Posts by Mark Darwin
Bank Indonesia ready to stabilise rupiah as Trump leads
BANK Indonesia (BI) said it stands ready to act to steady the rupiah from excessive volatility as Donald Trump’s early lead in the US presidential race spurs US dollar strength. “BI will always monitor the exchange rate movement of the rupiah and other currencies, and will certainly make various efforts to stabilise the exchange rate…
Read MoreNintendo’s next console will play current Switch games
NINTENDO said its next console will be compatible with current Switch games, allaying fears about the company’s ability to ride on the ageing machine’s past success. Backwards compatibility in the next-generation console is a key consideration for players trying to decide on further purchases of content in the waning months of the Switch. Nintendo’s next…
Read MoreAramco cuts oil prices to Asia for December after Opec+ delay
SAUDI Arabia lowered oil prices for buyers in Asia for December after members of the Opec+, which includes the Organization of the Petroleum Exporting Countries plus Russia and other allies, producers group said they will push back production increases by one month. State-run producer Saudi Aramco will sell its flagship Arab Light crude grade at…
Read MoreHSBC already fears new downsized London HQ will prove too small
HSBC Holdings is still two years away from a planned move to a smaller City of London headquarters, but executives are already concerned the space will not be big enough and are considering taking up more even before relocating. The bank is weighing whether it will need to lease additional space beyond the 570,000 square…
Read MoreMusk now says it’s ‘pointless’ to build a US$25,000 Tesla for human drivers
WHEN Reuters reported in April that Tesla had scrapped plans for a long-promised, next-generation US$25,000 electric vehicle (EV), the automaker’s stock plunged. Chief executive Elon Musk rushed to respond on X, his social media network. “Reuters is lying,” he posted, without elaborating. Tesla’s stock recovered some of its losses. Six months later, Musk appears to…
Read MorePBOC head vows to boost China countercyclical monetary measures
CHINA’S central bank chief pledged to maintain an accommodative monetary policy stance and to double down on countercyclical adjustments to support the country’s economic growth. In a report on the nation’s financial work to China’s top legislative body, the National People’s Congress (NPC) Standing Committee, People’s Bank of China (PBOC) governor Pan Gongsheng on Tuesday…
Read MoreApple to face first EU Fine under bloc’s Digital Markets Act
APPLE is set to face the first-ever fine under the European Union’s new digital antitrust rules for Big Tech, representing an escalation of a clash with regulators over the dominance of its hugely profitable App Store. Watchdogs are readying the penalty after the iPhone maker failed to allow app developers to steer users to cheaper…
Read MoreFrasers Hospitality Trust’s sudden lurch to a higher tax rate in Australia serves as a cautionary tale
S-Reits may lose the capital support of strategic investors due to the limit on foreign individual ownership THE news that Frasers Hospitality Trust’s (FHT) wholly owned Australian subsidiary, FHT Australia Trust, will be subject to a higher effective tax rate probably came as a rude shock to its unitholders. The managers of the Singapore-listed real…
Read MoreFrasers Hospitality Trust’s hit by sudden jump in Aussie tax rate serves as a cautionary tale
S-Reits may lose the capital support of strategic investors due to the limit on foreign individual ownership THE news that Frasers Hospitality Trust’s (FHT) wholly owned Australian subsidiary, FHT Australia Trust, will be subject to a higher effective tax rate probably came as a rude shock to its unitholders. The managers of the Singapore-listed real…
Read MoreUS: Wall St opens higher as Americans head to polls
US STOCK indexes opened higher on Tuesday (Nov 5), as voting began in a tightly contested presidential election, with traders girding up for volatile trading over the next few sessions until a winner is declared. The Dow Jones Industrial Average rose 40.9 points, or 0.10 per cent, at the open to 41835.49. The S&P…
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