Posts by Mark Darwin
Singapore shares open higher on Wednesday; STI up 0.2%
SINGAPORE shares began Wednesday (Oct 23) trading in positive territory as overseas markets saw mixed results overnight. As at 9.01 am, the Straits Times Index (STI) was up 0.2 per cent or 5.71 points at 3,593.12. Across the broader market, gainers outnumbered losers 67 to 41 after 22.2 million securities worth S$33.8 million changed hands. …
Read MoreParkway Life Reit’s private placement closes at S$3.80 apiece
PARKWAY Life Real Estate Investment Trust’s (Parkway Life Reit) private placement to fund its acquisition of 11 nursing homes in France has closed at the issue price of S$3.80 per new unit. This represents the lowest end of the estimated issue price range of between S$3.80 and S$3.88 per new unit when the acquisition was…
Read MoreAir taxis take one step closer to reality with FAA rules
US AVIATION regulators released final safety rules for the nascent air taxi industry on Tuesday (Oct 22), crossing a key milestone for companies such as Joby Aviation and Archer Aviation to eventually begin commercial operations. The new rules lay out requirements for pilot training, as well as aircraft operations. Air taxi companies have been waiting…
Read MoreTexas Instruments forecasts fourth-quarter below estimates on weak chip demand in industrial markets
TEXAS Instruments (TI) forecast fourth-quarter revenue and profit below estimates on Tuesday (Oct 22) as the chipmaker navigates a buildup of inventory in some segments such as industrial, even as it indicated improving demand from China’s automotive market. The company forecast revenue in the range of US$3.7 billion to US$4 billion, compared with analysts’ average…
Read MoreTSMC told US of chip in Huawei device after TechInsights finding: source
TAIWAN Semiconductor Manufacturing Company (TSMC) notified the US a couple of weeks ago that one of its chips had been found in a Huawei device after a teardown by the tech research firm TechInsights, according to a person familiar with the matter. TechInsights informed TSMC about the chip in advance of publishing its findings in…
Read MoreOUE unit to issue S$50 million in fixed-rate green notes due 2029 at 4%
AN OUE subsidiary, OUE Treasury, has proposed to issue S$50 million in green notes due 2029 at a fixed rate of 4 per cent per annum, the property player said on Tuesday (Oct 22). The green notes are part of OUE’s S$3 billion multicurrency debt issuance programme, established in 2016. This issuance will be consolidated…
Read MoreBlackRock taps into AI frenzy with two new ETFs
ASSET management giant BlackRock on Tuesday (Oct 22) launched two new exchange-traded funds (ETFs) aimed at giving investors exposure to the booming market for artificial intelligence. Generative AI, designed to create human-like interactions by processing vast amounts of data, has taken the world by storm and is expected to be integrated into virtually all industries…
Read MoreMoody’s raises full-year profit forecast above estimates on strong product demand
RATINGS agency Moody’s raised its full-year adjusted profit forecast above Wall Street estimates and posted a nearly 31 per cent rise in third-quarter earnings on Tuesday (Oct 22), on strong demand for its research and analytics products. Growing expectations of a soft landing for the US economy as the Federal Reserve began its rate cut…
Read MoreUOI profit before tax down 2% to S$22.1 million amid fall in net insurance service and financial results
Its insurance revenue is 14% up to S$79.4 million; other income is 8% higher to S$10.3 million UNITED Overseas Insurance (UOI) posted a profit before tax of S$22.1 million for the nine months ended Sep 30, down 2 per cent from the S$22.5 million in the corresponding period last year. The dip came from a…
Read MoreASML chief sees US pressure building for more China restrictions
ASML Holding chief executive officer Christophe Fouquet expects pressure will grow from the US to further restrict sales of semiconductor technology to China, the biggest market for the Dutch producer of chipmaking machines. “If you look at the geopolitical landscape, I think it’s clear that the US will continue to apply pressure on their allies…
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