Posts by Mark Darwin
Income should walk away from Allianz
The cooperative-turned-corporation should come up with its own programme to improve its profitability and expand at home and abroad THE bombshell announcement last week that the government would block the proposed purchase of a majority stake in Income Insurance by Allianz has raised a number of questions. Many of these relate to projections by the…
Read MoreBrent eyes volatile Q4 2024 and underwhelming 2025 balance
BRENT crude oil futures have experienced significant volatility this year. After reaching a peak of US$90 per barrel in April, prices tumbled to around US$70 by September. This decline was fuelled by weaker-than-expected Chinese demand and broader economic uncertainties, alongside fears of oversupply despite production cuts by the Organization of the Petroleum Exporting Countries and…
Read MoreCash-strapped UK squeezes troubled companies for unpaid taxes
The UK tax office is taking a tougher approach to clawing back debts, insolvency specialists said, in a bid to squeeze £5 billion (S$8.5 billion) in extra revenue that is adding to pressure on firms going out of business. The move by HM Revenue & Customs (HMRC) to recoup owed taxes from collapsing businesses –…
Read MoreCNMC, Travelite, Noel Gifts and LMS Compliance directors raise stakes
INSTITUTIONS were net sellers of Singapore stocks over the five trading sessions spanning Oct 11 to Oct 17, with S$144 million of net institutional outflow, partially reversing the preceding 10 sessions of S$251 million net inflow. This has brought net institutional flow in the 2024 year to Oct 17 back to a net outflow of…
Read MoreCanada firms can request temporary relief from tariffs on China EVs, metals
CANADIAN firms can request a temporary remission of tariffs on the imports of Chinese electric vehicles (EVs), steel and aluminium products, the finance ministry said on Friday (Oct 18). The ministry said that relief would be granted under specific and exceptional circumstances. The measure is designed to help firms adjust their supply chains to cope…
Read MoreIndonesia’s Prabowo Subianto targets growth spurt with big projects
INDONESIAN President Joko Widodo leaves office on Sunday (Oct 20) with high approval ratings thanks to strong economic growth, but his successor Prabowo Subianto has bigger ambitions, including an eye-catching US$28 billion free meal plan for students. While the country regularly enjoys about five per cent annual expansion, the former general has pledged to capitalise…
Read MoreChinese drone maker DJI sues Pentagon for military designation
SZ DJI Technology said it has sued the US Department of Defense for adding the Shenzhen-based drone maker to a list that designates it as a Chinese military company. DJI had unsuccessfully attempted to engage with the defence department for more than 16 months on the issue, a spokesperson for the world’s largest maker of…
Read MoreFDA approves Astellas’ gastric cancer therapy
THE US Food and Drug Administration (FDA) approved Astellas’ therapy to treat a type of gastric cancer, the health regulator’s website showed on Friday (Oct 18). The therapy, branded as Vyloy, was approved to be used in combination with a type of chemotherapy for patients with a type of cancer which begins in the gastroesophageal…
Read MoreHong Kong regulators move to speed up company listings
HONG Kong’s bourse and securities regulator on Friday (Oct 18) moved to shorten the approval time for company listings, the latest effort to boost the attractiveness of Hong Kong as a global venue for initial public offerings (IPO). Hong Kong Exchanges and Clearing (HKEX) said it would communicate closely with the Securities and Futures Commission…
Read MoreWestern Digital owes US$315.7 million for infringing data security patent, US jury says
DATA storage provider Western Digital must pay US$315.7 million in damages for violating a patent owner’s rights in data security technology, a jury in California federal court said on Friday (Oct 18). The jury determined that several Western Digital self-encrypting hard drive products infringe a Spex Technologies patent covering data encryption innovations, a Spex attorney…
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