Posts by Mark Darwin
iFast Global Bank should not be compared to local banks, says group’s CEO
THE iFast Global Bank (IGB) should not be compared to local lenders, said Lim Chung Chun, the chief executive officer of wealth management platform iFast Corporation, at a briefing on Monday (Oct 28). IGB’s regulatory ratios are well in excess of both official requirements and those of the three local banks – DBS, OCBC and…
Read MorePetroChina set to shut top north China refinery in 2025: sources
PETROCHINA is set to shut its largest refinery in north China’s Dalian around mid-2025, marking the first major closure at a state-run oil plant, part of a long-mooted project to replace it with a smaller facility at a new site, sources said. The planned shutdown of the entire 410,000 barrels per day (bpd) Dalian Petrochemical…
Read MoreIndia central bank’s rosy growth forecast baffles economists
THE Reserve Bank of India’s (RBI) upbeat growth estimates for the world’s fastest-growing major economy is causing both confusion and concern among economists. The central bank has stuck to its forecast that India’s economy will expand 7.2 per cent in the year ending March 2025 despite recent evidence showing activity is starting to taper off.…
Read MoreEli Lilly gets nod to launch blockbuster weight-loss drug in Hong Kong
ELI Lilly expects to start selling its highly popular weight-loss drug in Hong Kong as early as the end of this year, potentially making it the first of its kind to become available in the China region. The company has gained the Hong Kong government approval to sell its tirzepatide injections – branded as Mounjaro…
Read MoreLG Energy profits tumble 40% on waning battery-powered car sales
SLUGGISH demand for electric vehicles (EVS) haunted South Korean battery maker LG Energy Solution, dragging its profits down by almost 40 per cent from a year earlier. LG Energy’s operating profit for the three months ended Sep 30 was 448.3 billion won (S$426 million), according to a company statement on Monday (Oct 28). While that…
Read MoreSingapore shares open higher on Monday; STI up 0.1%
SINGAPORE shares began Monday (Oct 28) trading in positive territory as overseas markets clocked mixed results over the weekend. As at 9.03 am, the Straits Times Index (STI) was up 0.1 per cent or 2.85 points to 3,596.26. Across the broader market, gainers outnumbered losers 63 to 55 after 48.2 million securities worth S$52 million…
Read MoreStocks to watch: CapitaLand Ascendas Reit, UOL, Singapore Land, iFast, Q&M Dental
THE following companies saw new developments that may affect trading of their securities on Monday (Oct 28): CapitaLand Ascendas Reit (Clar): The business space and industrial Reit’s portfolio occupancy fell to 92.1% for its third quarter from 93.1 per cent in its previous quarter. Its portfolio rental reversions rose quarter-on-quarter to 14.4 per cent from…
Read MoreBoeing to raise up to US$19 billion in stock offering to shore up finances
BOEING on Monday (Oct 28) launched a stock offering that could raise up to US$19 billion as the planemaker looks to strengthen its finances squeezed by an over month-long worker strike and a year-long safety crisis. The company is offering 90 million in common stock and US$5 billion in depositary shares, that represent an interest…
Read MoreBoeing to raise up to US$22 billion to shore up finances, stave off downgrade
BOEING on Monday (Oct 28) launched a stock offering that could raise up to US$22 billion as the planemaker looks to strengthen its finances squeezed by an over month-long strike by its workers and preserve its investment-grade credit rating. The move will boost Boeing’s battered finances, which have worsened since roughly 33,000 of its workers…
Read MoreIndia beefs up defence production with Airbus plant in Gujarat
INDIA will open its first private military aircraft manufacturing facility on Monday (Oct 28) as the South Asian nation ramps up its local defence production to cut reliance on imports. The factory – a joint venture between Airbus and Tata Advanced Systems – will produce transport aircraft to replace the Indian military’s ageing fleet. Spanish…
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