Posts by Mark Darwin
AT&T, Verizon say networks now clear after Salt Typhoon hack
AT&T and Verizon Communications acknowledged that they’d been hit by the China-linked Salt Typhoon hacking operation but that their networks were now clear from the intrusion. The hackers attempted to gain information about foreign intelligence, Dallas-based AT&T said on Saturday (Dec 28). New York City-based Verizon said in a separate statement that “a small number…
Read More10 Singapore stocks to watch in 2025
There is a tinge of excitement in the air as global markets head into 2025. Investors have plenty to keep an eye on, with the return of Donald Trump to the White House expected to fuel volatility even as interest rates ease. Watch these companies in the year ahead, as The Business Times believes they’re…
Read MoreHong Kong IPO market stages comeback after dismal 2023
INVESTORS in the Hong Kong initial public offering (IPO) of Chinese cosmetics firm Mao Geping Cosmetics received an early Christmas present on Dec 10 when the company made its trading debut – the shares rose as much as 92 per cent before closing the day 77 per cent higher. It was the best first-day performance…
Read MoreUS dollar eyes best year in almost a decade
The US dollar is headed for its best year in almost a decade as US economic strength reins in expectations for the Federal Reserve’s rate-cutting cycle and president-elect Donald Trump’s threats of harsh tariffs underpin bullish bets on the currency. The Bloomberg Dollar Spot Index rose more than 7 per cent so far this year,…
Read MoreUS plans more actions against China over telecom hack
A WHITE House official said on Friday (Dec 27) that the US identified a ninth telecommunications company impacted by a wide-ranging Chinese espionage effort and that further steps are planned to curb cyberattacks from Beijing. As the Biden administration learns about the scope and scale of the so-called Salt Typhoon breach which it attributed to…
Read MoreChina plans dam near India that could be world’s biggest
CHINA is pressing ahead with plans to construct a mega-dam near its contested border with India, a colossal undertaking that could generate three times as much power as the Three Gorges Dam. The Chinese government approved the construction of “a hydropower project” in the lower reaches of the Yarlung Tsangpo river in Tibet, the official…
Read MoreTaiwan’s science ministry warns spending cuts could hit chips, AI funding
TAIWAN’S science ministry warned on Friday (Dec 27) that funding for areas such as semiconductors, artificial intelligence (AI) and aerospace could be reduced by NT$20 billion (S$828 million) for next year after opposition parties passed laws requiring cuts to economic and technology spending. Taiwan’s opposition parties, which hold a majority in parliament, passed legislation last…
Read MoreBezos’ Blue Origin gets FAA license for its first New Glenn rocket launch
THE Federal Aviation Administration (FAA) said on Friday (Dec 27) that it has issued a commercial space launch license for Blue Origin’s – Jeff Bezos’ rocket company – New Glenn launch. Blue Origin entered into a highly competitive area it has long sought to join, as the US Department of Defense picked the company, along…
Read MoreOil settles up over 1% on large draw from US crude stocks
OIL prices settled more than 1 per cent higher on Friday (Dec 27) and recorded a weekly gain in low trading volume ahead of year-end, buoyed by a larger-than-expected drawdown from US crude inventories last week. Brent crude futures rose 91 US cents, or 1.2 per cent, to settle at US$74.17 per barrel. US West…
Read MoreSingapore market unlikely to repeat 2024’s high; moderate returns expected for 2025
IT HAS been “a year of two halves” for the Singapore market in 2024. While the local market remained relatively stable in the first half of this year, it saw a sharp rally in the second half, with the Straits Times Index (STI) posting its best performance since 2017. The benchmark index is up…
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