Posts by Mark Darwin
Resorts World Sentosa’s casino licence renewed
THE authorities have renewed the casino licence of Resorts World Sentosa (RWS), an integrated resort operated by Genting Singapore, for another two years, beginning Feb 6 next year. In a bourse filing on Monday (Nov 18), the casino operator said that the renewal was granted after RWS was deemed to be suitable to manage and…
Read MoreUK creates new businesses at slowest rate since 2010
BRITONS started new businesses last year at the slowest rate since 2010, a potential warning sign for longer-term economic growth and productivity, according to official data published on Monday (Nov 18). The number of new businesses started in the United Kingdom fell to 316,000 in 2023 from 337,000 in 2022, the Office for National Statistics…
Read MoreXiaomi Q3 revenue soars 30.5% as sales of its first electric car surge
CHINESE electronics maker Xiaomi Corp posted a 30.5 per cent jump in third-quarter revenue as consumers clamoured for its first electric vehicle, the SU7 sedan. Xiaomi launched the car, which draws styling cues from Porsche, in March, entering a crowded China EV market with an attention-grabbing price tag – under US$30,000 for the base model,…
Read MoreSingapore stocks fall after Wall Street sell-off; STI down 0.3%
SINGAPORE equities ended their three-day winning streak to finish Monday (Nov 18) lower, after a sell-off on Wall Street last Friday as investors turned cautious amid inflation worries under a second Donald Trump presidency. The benchmark Straits Times Index (STI) was down 0.3 per cent or 12.15 points at 3,732.55. Across the broader market, gainers…
Read MoreChina EV makers push self-driving as Tesla threat looms
AUTONOMOUS driving and artificial intelligence are the buzzwords at this week’s Guangzhou auto show – the last major gathering of Chinese carmakers for the year. With Elon Musk’s Tesla aiming to bring what it markets as full self-driving to China in the first quarter of next year, pending regulatory approval, domestic electric car manufacturers…
Read MoreCrypto exchange OKX launches Singapore dollar funds transfer service for local customers
CRYPTOCURRENCY exchange OKX said on Monday (Nov 18) it would offer instant Singapore dollar-denominated deposits and withdrawals to customers in the city-state, taking a step towards deeper integration with Singapore’s traditional financial system as trading and interest in cryptocurrencies surge. The funds transfer service will be facilitated by Singapore’s biggest bank DBS Group and done…
Read MoreUOB payment services restored after intermittent issues on Monday
UOB credit and debit card payment services have been fully restored after facing intermittent issues in the morning, said the lender in a Facebook post on Monday (Nov 18). “We apologise for any inconvenience caused and we thank our customers for their patience,” it added. The update came about an hour after the bank reported…
Read MoreSingapore shares open flat on Monday
SINGAPORE stocks began Monday (Nov 18) trading in negative territory as markets abroad experienced losses over the weekend. As at 9.01 am, the Straits Times Index (STI) inched down 0.15 point at 3,744.55. Across the broader market, losers equalled gainers at 54 after 23.2 million securities worth S$34.1 million changed hands. Marine aquaculture specialist Oceanus…
Read MoreFrasers Property to redevelop Robertson Walk assets with Sekisui House
The 999-year leasehold site is envisioned to feature ‘a luxury 348-unit residential enclave with an exciting mix of dining and entertainment options’ FRASERS Property’s apartment hotel Fraser Place Robertson Walk and its adjoining commercial area, Robertson Walk, will be redeveloped into a mixed-use project with 348 residential units. On Monday (Nov 18), Frasers Property said…
Read MoreTiming of DBS share buyback announcement and its CEO’s share sales was not a good look
One solution is to prohibit share sales by top executives during share buybacks; another is to disclose valuations at which buybacks would make sense SOME investors may have had mixed feelings about DBS chief executive Piyush Gupta selling 300,000 shares earlier this month, right after the banking group reported strong financial results for Q3 2024…
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