Posts by Mark Darwin
Ontario cancels Starlink contract in latest Canadian tariffs protest
THE Canadian province of Ontario on Monday (Feb 3) announced it was cancelling a C$100 million (S$93.4 million) contract with Elon Musk’s Starlink, the latest retaliatory move against tariffs announced by US President Donald Trump. Ontario, the most populous of the 10 provinces and Canada’s industrial heartland, also said it was banning US companies from…
Read MoreUS: Wall St slides at open as Trump’s tariffs trigger risk aversion
Wall Street’s main indexes dropped at the open on Monday (Feb 3) as fears of a full-blown trade war and its impact on the global economy jolted markets around the world after President Donald Trump levied steep tariffs on Mexico, Canada and China. The Dow Jones Industrial Average fell 276.5 points, or 0.62 per cent,…
Read MoreChina Evergrande’s EV unit says struggling to attract investors amid liquidity crisis
CHINA Evergrande New Energy Vehicle said on Monday (Feb 3) it is struggling to attract strategic investors amid a severe liquidity crisis, which has hampered its operations and delayed essential audits for 2024. “The tough conditions under which the new energy vehicle in Mainland China is operating has certainly not facilitated this (securing a strategic…
Read MoreTrump’s meme coin made nearly US$100 million in trading fees, as small traders lost money
ENTITIES behind President Donald Trump’s crypto coin have accumulated close to US$100 million in trading fees in less than two weeks, according to estimates from three blockchain analysis firms, a large windfall from a venture that has seen tens of thousands of small traders lose money. The meme coin, known as $Trump, was launched by…
Read MoreGordon Tang and wife extend closing date of cash offer for Suntec Reit to Feb 7
THE closing date of the mandatory conditional cash offer made by property tycoon Gordon Tang and his wife Celine to acquire all units of Suntec Real Estate Investment Trust (Reit) has been extended to 5.30 pm on Feb 7. The offer had been slated to close on Monday (Feb 3), at 5.30 pm. In a…
Read MoreKKR, Gaw look to sell Tokyo Hyatt Regency for over 100 billion yen
KKR and Gaw Capital Partners are in talks to sell the Hyatt Regency hotel in Tokyo to Japan Hotel Reit Investment for more than 100 billion yen (S$879.3 million), according to people familiar with the matter. The two investment firms bought the hotel in the Shinjuku area for an estimated 60 billion yen less than…
Read MorePrivate healthcare players upbeat as China hospitals ease rules on foreign ownership
Significant investments are needed for these hospitals to make returns, observers say THE Chinese government’s recent move to allow foreign healthcare players to wholly own hospitals in certain regions will offer flexibility and more avenues to players hoping to harness growth in China. However, significant investment in areas such as funding and talent will be…
Read MoreBank of Japan debated weak-yen risk, scope for more rate hikes at January meeting, summary shows
BANK of Japan (BOJ) policymakers discussed the likelihood of raising interest rates further with some warning of upside inflation risks and the damage a weak yen could inflict on the economy, a summary of opinions at their January meeting showed on Monday (Feb 3). The debate highlights an increasing chance the central bank will continue…
Read MorePanama offers concessions to US after Marco Rubio meets president
PANAMA promised free passage for US warships through the Panama Canal and said it will withdraw from China’s signature lending programme after Secretary of State Marco Rubio blasted the government during his visit on Sunday (Feb 2). Rubio, echoing President Donald Trump’s complaints about Chinese influence over the waterway, warned that the US would “take…
Read MoreAsean’s data centre gold rush to get a boost from DeepSeek’s AI leap: Maybank
DEMAND for Asean data centres is likely to remain resilient as Chinese artificial intelligence (AI) DeepSeek is set to disrupt the industry and increase demand for it. The region is “still in the early stages of its data centre build cycle”, said Maybank analyst Hussaini Saifee on Friday (Jan 31). He expects more efficient large…
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