Posts by Mark Darwin
ADB says AI investments to drive developing Asia growth
SURGING global investments in artificial intelligence and easing inflation give developing Asia a launch pad for sustained economic growth in 2024 and 2025, the Asian Development Bank said Wednesday. With goods exports jumping 8.0 per cent in July, the Manila-based lender slightly raised its 2024 economic growth forecast for the region to 5.0 per cent…
Read MoreRBC bankers fear layoffs as pledge to keep HSBC staff nears end: sources
SOME Royal Bank of Canada (RBC) employees who joined when the bank acquired HSBC Canada worry they could lose their jobs when RBC’s six-month guarantee to keep them expires this month, according to six sources familiar with the situation. The Canadian lender agreed with the government to keep about 3,000 former corporate HSBC staff employed…
Read MoreOpec boosts long-term oil demand outlook, driven by developing world growth
OPEC raised its forecasts for world oil demand for the medium and long term in an annual outlook, citing growth led by India, Africa and the Middle East and a slower shift to electric vehicles and cleaner fuels. The Organization of the Petroleum Exporting Countries, in its 2024 World Oil Outlook published on Tuesday, sees demand growing for a…
Read MoreCatalytic capital is key to emerging markets badly in need of decarbonisation funding
Managers are courting catalytic capital – investment willing to accept a lower return – so as to bring more investors to the table BILLIONS of dollars are being raised to build solar plants and wind farms, but capital is flowing to where returns are highest – not where needs are greatest. Catalytic capital is crucial…
Read MoreECB started issuing fine notices to banks not meeting climate expectations
THE European Central Bank has started issuing fine notices to lenders not meeting its long-defined expectations on disclosing and managing climate risk, Irene Heemskerk, the head of the ECB’s climate change centre, told Reuters on Tuesday (Sep 24). The ECB has long complained that banks are not meeting its supervisory expectations on climate issues and…
Read MoreRaspberry Pi rally bucks trend of London IPO disappointments
It is the only counter with a stock price higher than its offering, of the companies that raised at least US$100 million over the past three years and are still trading RASPBERRY Pi shares rallied after reporting a jump in sales, cementing the personal-computer (PC) maker’s status as the only winner from a recent wave…
Read MoreLenders line up more than 10 billion euros for Sanofi health unit buyout
BANKS and other lenders are lining up more than 10 billion euros (S$14.3 billion) of debt to back a buyout of Sanofi’s consumer health division, as one of the most highly anticipated sales of the year reaches its final stages. A core group of banks signed funding commitments over the weekend for 7.5 billion to…
Read MoreIndonesia to launch central counterparty clearing house next week
INDONESIA will launch a central counterparty clearing house (CCP) next week for foreign exchange and money market transactions, its central bank said on Tuesday (Sep 24), as it aims to deepen the capital markets of South-east Asia’s largest economy. The CCP should help integrate Indonesia’s currently fragmented and segmented money and foreign exchange markets, facilitating…
Read MoreKKR, GIC hire banks to sell stakes in US$3.2 billion Metro Pacific Health, sources say
The two hold an 80% stake in the private hospital group, and Metro Pacific Investments owns the rest GLOBAL investment company KKR and Singaporean sovereign wealth fund GIC have appointed Bank of America, Jefferies and UBS to sell their majority stake in the Philippines’ Metro Pacific Health in a deal that could value the company…
Read MoreHong Kong, Shanghai lead markets rally after China stimulus
HONG Kong and Shanghai stocks led gains across Asia and Europe on Tuesday (Sep 24) after China unveiled fresh stimulus measures as the country’s leaders struggle to kickstart growth in the world’s number two economy. After a string of weak data that has fanned worries about the financial health of the country, the central bank…
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