Posts by Mark Darwin
Boeing strike leaves Asian airlines sweating on plane deliveries
THE Seattle factory strike crippling production at Boeing is triggering delays to 737 Max deliveries across Asia, a region that’s already home to some of the biggest order backlogs for the flagship aircraft. The US manufacturer is due to hand over 981 Max jets to carriers in Asia, led by Air India and Indonesia’s Lion…
Read MoreOil falls on easing Libya supply concerns, lingering China demand worries
OIL prices slumped over 2 per cent on Wednesday as worries over supply disruptions in Libya eased and demand concerns continued despite China’s latest stimulus plans. Still, falling crude inventories in the United States and rising tensions in the Middle East provided some support. Brent crude futures fell US$1.71, or 2.27 per cent, to settle…
Read MoreBold moves will support market makers and broaden indices, not incremental changes
THE Straits Times Index (STI) touched a 17-year high on Monday (Sep 23), hitting 3,638.54 points in intraday trading. Securities trading volume has been healthy lately, led by inflows of institutional money. How can Singapore quickly unfurl its sails to catch the wind at its back? At the recent corporate governance conference organised by the…
Read MoreRolls-Royce sees demand for bespoke cars offsetting China slump
ROLLS-ROYCE Motor Cars’ chief executive officer said rising demand for personalised vehicles is helping the British luxury-car maker counter weakening sales in China. The luxury market in the world’s second-largest economy “is experiencing some more challenging times,” CEO Chris Brownridge said on Wednesday (Sep 25). He added that the BMW-owned manufacturer can manage because of…
Read MoreFirst Sponsor raises S$244 million from oversubscribed rights issue
It intends to use net proceeds to fund expansion plans, strengthen financial position and capital base MAINBOARD-LISTED property developer First Sponsor Group on Wednesday (Sep 25) said it raised gross proceeds of about S$244 million from its recently concluded rights issue. A total of 225,910,315 Series 3 convertible securities were available for subscription, but the…
Read MoreUS firm SI Group to shutter chemical manufacturing facility on Jurong Island
The company will continue supplying alkylphenol with other manufacturing facilities in Europe and the Americas CHEMICALS company SI Group will close its alkylphenol manufacturing facility on Jurong Island in the second half of 2025, it said in a media release on Wednesday (Sep 25). The company attributed the closure to high costs in Singapore and “substantial…
Read MorePerennial opens four hotels at its S$1 billion Tianjin development
PERENNIAL marked the official opening of its hospitality cluster and the construction completion of its medical cluster at its transit-oriented development in Tianjin on Wednesday (Sep 25). The S$1 billion project, located in the Chinese municipality, spans more than 3.5 million square feet (sq ft), and integrates eldercare, medical and hospitality facilities. It sits adjacent…
Read MoreGoogle complains to EU over Microsoft cloud practices
ALPHABET unit Google filed a complaint to the European Commission on Wednesday (Sep 25) against what it said were Microsoft’s anti-competitive practices to lock customers into Microsoft’s cloud platform Azure. Google, whose biggest cloud computing rivals are Microsoft and Amazon Web Services, said Microsoft was exploiting its dominant Windows Server operating system to prevent competition. …
Read MoreUber partners with China’s WeRide to offer robotaxi rides in UAE
UBER Technologies is partnering with Chinese autonomous car company WeRide to expand its robotaxi offering to the United Arab Emirates. Users of the Uber app in Abu Dhabi will be able to book a ride in a robotaxi from later this year, the companies said in a statement on Wednesday (Sep 25). Uber has…
Read MoreTraders flock to China’s five-year bonds on lower intervention risk
The downward trend in China rates may not reverse unless there is a meaningful step-up in fiscal stimulus to stabilise consumption and the property market, a strategist says TRADERS are snapping up China’s five-year government bonds, attracted by the lower risk of central bank intervention for this maturity. Yields declined nearly five basis points to…
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