Posts by Mark Darwin
Asian markets cheer over China’s stronger-than-expected GDP data; STI up 0.4%
SINGAPORE shares ended higher on Friday (Oct 18), tracking gains on regional bourses after China’s third-quarter economic growth exceeded market expectations. The benchmark Straits Times Index (STI) was up 0.4 per cent or 14.94 points at 3,640.19. Across the broader market, gainers outnumbered losers 360 to 194, after 1.1 billion securities worth S$1.1 billion changed…
Read MoreVolvo’s earnings drop as freight, construction demand wanes
VOLVO’S earnings have declined in the third quarter as the truckmaker struggled with slowing demand for heavy-duty rigs across most markets. Adjusted operating profit slipped to 14.1 billion Swedish kronor (S$1.8 billion) due to lower freight and construction activity, the company said on Friday (Oct 18), below a projection by analysts of about 15.1 billion…
Read MoreBCA, IMDA to update Green Mark certification for data centres from March 2025
THE Building and Construction Authority (BCA) and the Infocomm Media Development Authority (IMDA) will update the Green Mark for data centres on Friday (Oct 18). On BCA’s website, it states that the updated Green Mark certification, which is currently in a “beta”, or pre-release state, will replace the existing certification from Mar 1, 2025. The…
Read MoreTSMC stock hits new high after posting forecast-beating earnings
TAIPEI-LISTED shares in Taiwan Semiconductor Manufacturing Company (TSMC) hit a record high on Friday (Oct 18) after the chipmaker posted forecast-beating third-quarter earnings and predicted a rosy outlook on strong artificial intelligence (AI) demand. Shares jumped 6 per cent shortly after opening to reach TN$1,100, surpassing the previous record of NT$1,080 hit on Jul 11.…
Read MoreGold tops US$2,700 for first time to extend record-breaking run
GOLD topped US$2,700 an ounce for the first time, as concerns over escalating conflicts in the Middle East and a tight US election race prompt investors to flock to safety. Bullion climbed as much as 0.7 per cent to US$2,711.99 an ounce, beating the all-time high set in the previous session. Markets are focused on…
Read MoreLove, Bonito lays off 29 employees globally, including 14 in Singapore
HOME-GROWN fashion retailer Love, Bonito has laid off 29 employees globally, 14 of whom are from Singapore. This accounts for 6.9 per cent of the company’s total workforce. Affected employees will receive a support package in line with local regulations, said Dione Song, chief executive of Love, Bonito. “This includes a payout based on length…
Read MoreKeppel DC Reit Q3 DPU up 0.4% at S$0.02501
KEPPEL DC Reit posted a distribution per unit (DPU) of S$0.02501 for the third quarter ended Sep 30, up 0.4 per cent from S$0.02492 in the previous corresponding period. Distributable income rose 1.9 per cent on the year to S$44.7 million, from S$43.9 million. The higher distributions came amid increased rent from strong reversions,…
Read MoreRay-Ban maker EssilorLuxottica misses sales expectations as China slows
FRANCO-ITALIAN eyewear maker EssilorLuxottica, opens new tab missed third-quarter revenue expectations on Thursday (Oct 17), dented by a slowdown in consumer spending in China. Group revenue for the three months ended Sep 30 came in at 6.4 billion euros (S$9.1 billion), below analysts’ forecasts of 6.58 billion euros, according to a Visible Alpha consensus cited…
Read MoreDollar jumps as retail sales confirm strong US economy
THE US dollar jumped to an 11-week high on Thursday (Oct 17) after data showed that US retail sales increased slightly more than expected in September, boosting confidence that the US economy remains strong. It followed a relatively muted currency reaction to the European Central Bank’s decision to cut rates by 25 basis points, as…
Read MoreUniCredit in court limbo over ECB’s Russia demands: sources
UNICREDIT is still awaiting a court decision over whether it must immediately reduce its Russia business to comply with an order by the European Central Bank (ECB), months after filing an objection, people familiar with the situation told Reuters. The near four-month wait for a decision increases pressure on the lender to show it is…
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