Posts by Mark Darwin
China faces first FX test of 2025 with yuan’s red line in focus
THE offshore yuan’s year-end slide to its weakest since 2022 is set to put the China’s daily reference rate for the currency in focus as the market assesses policymakers’ potential red line for defence. The offshore yuan fell as much as 0.7 per cent to 7.3695 per US dollar in the last session of 2024,…
Read MoreBillionaire Li Ka-shing’s Hutchmed in US$608 million health unit stake sales
HUTCHMED (China), controlled by tycoon Li Ka-shing, is selling stakes in its health subsidiary for around US$608 million as the billionaire and his flagship conglomerate look to ramp up capital and pivot towards core operations at the drugmaker. Hutchmed will sell a total 45 per cent stake in Shanghai Hutchison Pharmaceuticals to Chinese firms GP Health…
Read MoreSingPost says all contracts have clauses that cover delivery failure in dangerous situations
ALL Singapore Post (SingPost) contracts with its customers include clauses to cover situations where it is too dangerous for SingPost to render its services, a spokesman for the company said. “All our contracts have a force majeure clause to cover situations where it is too dangerous to deliver, and customers are aware of these conditions,”…
Read MoreBYD chalks up new record as it narrows EV sales gap with Tesla
CHINA’S BYD enjoyed a year-end surge to push total sales to 4.25 million passenger cars last year, narrowing its gap with Tesla as the two vie for the crown of top-selling electric-vehicle (EV) maker of 2024. The Shenzhen-based carmaker, which stopped making vehicles entirely powered by fossil fuels in 2022, hit a new monthly sales…
Read More‘Bleisure’ accommodation and more – 4 travel trends to watch in 2025
THE global tourism sector is approaching a full recovery to pre-pandemic levels, but some demand for travel could taper off. Still, there are some bright spots in tourism as certain themes could take hold this year. The latest tourism data from United Nations agency UN Tourism, titled World Tourism Barometer, indicated that tourist arrival numbers…
Read MoreFast Company Discusses the Future of AI
The fear surrounding artificial intelligence in design feels eerily familiar. As a designer who witnessed the transition from drafting tables to digital workstations, I’ve seen this pattern before. The same arguments against AI today mirror those made against computers 40 years ago – concerns about losing soul, craft, and artistry in design work. Fast Company…
Read MoreWorld’s 500 richest people surpass US$10 trillion in wealth in 2024
THE world’s 500 richest people got vastly richer in 2024, with Elon Musk, Mark Zuckerberg and Jensen Huang leading the group of billionaires to a new milestone: A combined US$10 trillion net worth. An indomitable rally in US technology stocks played a key role in turbocharging the trio’s wealth, as well as the fortunes of…
Read MoreSingapore-flagged ship collides with Japan-flagged ship in Chinese waters
A SINGAPORE-FLAGGED ship collided with a Japan-flagged ship in Chinese waters on Dec 30. Singapore bulk carrier Yangze 22 collided with Japanese bulk carrier Vega Dream in the Changjiang River at about 10 pm, said the Maritime and Port Authority of Singapore (MPA) on Dec 31. No injuries to the crew on either ship were reported, said…
Read MoreCitigroup, BofA exit global climate-banking alliance
CITIGROUP and Bank of America said they are leaving a global climate-banking group, becoming the latest Wall Street lenders to exit the coalition in the past month. In a statement, Citigroup said while it remains committed to achieving net zero emissions, it is exiting the Net-Zero Banking Alliance (NZBA). Bank of America said separately on…
Read MoreGold heads for biggest gain since 2010 in mixed year for metals
GOLD is heading for its biggest gain in 14 years, with a 27 per cent advance fuelled by US monetary easing, sustained geopolitical risks and a wave of purchases by central banks. While bullion has ticked lower since Donald Trump’s sweeping victory in November’s US presidential election, its gains over 2024 still outstrip most other…
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