Posts by Mark Darwin
Court hears of nickel trading accused’s lavish purchases, including million-dollar diamond ring
[SINGAPORE] Alleged nickel fraudster Ng Yu Zhi had “five families” – his wife, ex-wife and three girlfriends – one of his former employees told the High Court on Wednesday (Apr 16). This prosecution witness, Shen Xuhuai, also testified that Ng had asked her to help him buy a 20.25-carat yellow diamond ring for US$965,000. It…
Read MoreUS: Wall Street falls, Nvidia drops after new US chip export curbs
Published Wed, Apr 16, 2025 · 09:44 PM [NEW YORK] Wall Street fell on Wednesday (Apr 16), with the Nasdaq leading declines after Nvidia flagged steep charges from new US controls on chip exports to China, the latest flashpoint in an escalating global trade war. Shares of Nvidia dropped 6.5 per cent. The Dow Jones…
Read MoreNam Cheong bags RM317.1 million in regional vessel charter deals
[SINGAPORE] Sarawak-based offshore marine firm Nam Cheong has secured vessel charter contracts worth up to RM317.1 million (S$94.5 million) from regional oil majors. The multi-year agreements have a firm charter period of up to two years, with options for further extension, the company said in a bourse filing on Wednesday (Apr 16). Seven anchor handling…
Read MoreASML warns of tariff risks, maintains forecast as AI race accelerates
ASML, the world’s biggest supplier of computer chip-making equipment, said on Wednesday (Apr 16) that tariffs were increasing uncertainty around its outlook for 2025 and 2026, but stood by its annual guidance as the race for AI rages on. CEO Christophe Fouquet said his conversations with customers supported ASML’s expectations that 2025 and 2026 would…
Read MoreHong Kong stocks drop on trade war anxiety, China inches higher
[HONG KONG] Hong Kong shares fell on Wednesday (Apr 16), dragged by technology stocks, after the US restricted Nvidia chip sales to China, raising concerns of an intensifying trade war. Meanwhile, Chinese shares rose marginally following better-than-expected economic growth data and on reports that state-backed investors bought shares in the afternoon session. The Hang Seng…
Read MoreMalaysia’s Petronas secures extra gas supply after hit from Putra Heights pipeline fire
Published Wed, Apr 16, 2025 · 04:27 PM [KUALA LUMPUR] Malaysian oil and gas giant Petroliam Nasional said on Wednesday (Apr 16) it has secured additional gas supplies to minimise supply disruptions caused by the huge fire at the Putra Heights pipeline earlier this month. PETRONAS Energy & Gas Trading (PEGT) has procured an extra…
Read MoreHeineken’s Q1 sales slightly beat forecasts
“…we are performing within the range of expectations,” says CEO Dolf van den Brink
Read MoreAmerican shoppers flock to Chinese apps on tariff fears
[NEW YORK] Americans are scouring Chinese e-commerce apps for cheap handbags, yoga pants and wallets as shoppers fear homegrown platforms will hike prices due to tariffs. Viral videos touting the high quality, and cheap prices, of goods available on Chinese services have spurred Americans to download apps such as DHgate, which climbed to second place…
Read MoreChina Southern is said to mull Hong Kong IPO of cargo unit
The deal may be coming at a tricky time for the company, which relies on Chinese exports that are under threat because of the country’s trade war with the US Published Wed, Apr 16, 2025 · 12:15 PM [HONG KONG] China Southern Airlines is exploring a Hong Kong initial public offering (IPO) for its cargo…
Read MoreHermes’ market value surpasses that of former suitor LVMH
[PARIS] Hermes’ market capitalisation surpassed that of rival LVMH, the conglomerate which tried to buy the maker of the coveted Birkin bag in a stealth raid that shocked the French corporate world 15 years ago. Hermes International’s valuation reached almost 249 billion euros (S$371 billion) at the close of trading in Paris on Tuesday (Apr…
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