Posts by Mark Darwin
Stoneweg Europe Stapled Trust divests office asset in Italy for 34 million euros
Following the divestment, the trust’s exposure to Italy will fall from 18% to 17% [SINGAPORE] The managers of Stoneweg Europe Stapled Trust (Sert) on Friday (Dec 19) said that it has entered an agreement to sell a non-core office property in Italy – Amba Aradam Rome (Maxima) – for a consideration of 34 million euros…
Read MoreNike’s China conundrum deepens as turnaround stagnates
Nike’s stock is down 13% so far this year, on track for a fourth straight year of declines [NEW YORK] Nike is running out of time to prove its China playbook works. The US sportswear giant’s sixth straight quarterly sales decline in the country – including a 20 per cent drop in footwear – underscores…
Read MoreWall Street opens higher as inflation eases; forecast boosts Micron
[NEW YORK] Wall Street’s main indexes opened higher on Thursday (Dec 18) after softer-than-expected inflation data boosted expectations for more interest rate cuts by the Federal Reserve, while chipmaker Micron’s blowout forecast briefly eased worries about tech-sector valuation. The Dow Jones Industrial Average rose 215.2 points, or 0.45 per cent, at the open to 48,101.18.…
Read MoreBank of England lowers rates after tight vote but signals caution about further cuts
Five MPC members vote to lower the benchmark rate for the fourth time in 2025 to 3.75% [LONDON] The Bank of England (BOE) cut interest rates on Thursday (Dec 18) after a narrow vote by policymakers but it signalled that the already gradual pace of lowering borrowing costs might slow further. After a sharp drop…
Read MoreChina solar industry’s losses narrowing on overcapacity push, association says
[BEIJING] Losses in China’s slumping solar sector narrowed in the third quarter, data presented by an industry group official revealed, as the government’s war on industrial overcapacity targeted manufacturers. The solar industry’s capacity reached levels capable of satisfying global demand roughly twice over, figures from earlier this year showed, making it a focus of Beijing’s…
Read MoreIndia insurance move opens pension firms to 100% foreign holding
The move comes amid a surge in foreign investment in Indian banks and deeper reliance on Indian tech hubs [NEW DELHI] India’s move to lift investment caps on the insurance industry also applies to the US$177 billion pension fund sector, paving the way for 100 per cent foreign ownership, according to the industry regulator. The…
Read MoreOCBC users hit by short-lived mobile and online log-in error
Subsequent checks show an error message that says OCBC is working to resolve the issue [SINGAPORE] OCBC digital users were unable to log-in to the mobile and online banking on Thursday (Dec 18) morning. About 900 outage reports were lodged on tracking site Downdetector from around 12 pm, mostly citing mobile and online banking issues.…
Read MoreOptus’ September outage independent review flags urgent process gaps
OPTUS, Australia’s second-largest telecommunications provider, said on Thursday that an independent review into its September outage found gaps in process, accountability, and escalation and information protocols that need urgent attention. A technical failure at Optus on Sep 18 had disrupted emergency call services, impacting 600 people and leaving four people dead. REUTERS Decoding Asia newsletter:…
Read MoreWall Street subdued at open as investors eye policy outlook; Oracle slides
[NEW YORK] Wall Street’s main indexes were subdued at the open on Wednesday (Dec 17) as investors searched for fresh clues to gauge the outlook for monetary policy, while caution lingered following reports of funding hurdles for Oracle’s data centre plans. The Dow Jones Industrial Average rose 13.8 points, or 0.03 per cent, at the…
Read MoreChinese chip firms line up for Hong Kong listings in coming weeks
[HONG KONG] At least six Chinese companies related to artificial intelligence are set to go public in Hong Kong in the coming weeks, people familiar with the matter said, building on the strong recent listings on the mainland. Among them are Shanghai-traded chip firms Montage Technology and GigaDevice Semiconductor, each aiming to raise as much…
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