Posts by Mark Darwin
Bank of England’s Bailey says interest rates are gradually heading downwards
THE Bank of England should be able to lower interest rates gradually as it gains confidence that inflation will remain close to its 2 per cent target, governor Andrew Bailey said in an interview published on Tuesday (Sep 24). Bailey said he was “very encouraged” by the downward path of inflation since it peaked at…
Read MoreChina’s Leapmotor and Stellantis open orders in Europe for budget EVs
CHINA’S Leapmotor is set to start taking orders in Europe for a city car and an SUV, the automaker and its partner Stellantis said on Tuesday (Sep 24) as they expand their budget electric vehicle (EV) offering in the region. Stellantis holds a 51 per cent stake in their Leapmotor International joint venture and has…
Read MoreAsia-Pacific investors eye more exposure to fixed income: survey
MORE investors across Asia-Pacific (Apac) are looking to increase their allocations to fixed income assets in the region, according to a report by State Street Global Advisors (SSGA). The survey released on Tuesday (Sep 24) found that Apac investors plan to allocate nearly 46 per cent of their assets to fixed income over the next…
Read MoreRBA holds key rate at 12-year high, defying global easing
AUSTRALIA’S central bank held its key interest rate at a 12-year high on Tuesday (Sep 24) as it tries to subdue stubborn price pressures that are preventing it from joining a global easing cycle. The Reserve Bank of Australia (RBA) – as expected – kept its cash rate at 4.35 per cent for a seventh…
Read MoreReserve Bank of Australia holds key rate at 12-year high, defying global easing
AUSTRALIA’S central bank held its key interest rate at a 12-year high on Tuesday (Sep 24) as it tries to subdue stubborn price pressures that are preventing it from joining a global easing cycle. As widely expected by many observers, the Reserve Bank of Australia (RBA) kept its cash rate at 4.35 per cent for…
Read MoreChina to boost capital at mega banks for first time in a decade
CHINA is planning to recapitalise its biggest commercial lenders for the first time in more than a decade, seeking to strengthen the industry battling with record low margins, sinking profits and rising bad debt. At a rare press conference on Tuesday (Sep 24), authorities flagged they will increase the core tier 1 capital at its…
Read MoreChina unleashes stimulus blitz in push to hit annual growth goal
CHINA’S central bank unleashed a blitz of policy support for the economy, as policymakers make their broadest push so far to hit this year’s annual growth target of about 5 per cent. People’s Bank of China (PBOC) governor Pan Gongsheng announced a series of stimulus measures at a rare briefing on Tuesday (Sep 24) in…
Read MoreSingapore shares open higher on Tuesday; STI up 0.2%
SINGAPORE stocks began Tuesday (Sep 24) trading in positive territory, mirroring overnight gains in global markets. As at 9.01 am, the Straits Times Index (STI) climbed 6.26 points or 0.2 per cent to 3,644.8. Across the broader market, gainers outnumbered losers 74 to 35, after 46.5 million securities worth S$35.8 million changed hands. Subsea and…
Read MoreCalifornia sues ExxonMobil over global plastic pollution
CALIFORNIA and several environmental groups sued ExxonMobil on Monday and accused the oil giant of engaging in a decades-long campaign that helped fuel global plastic waste pollution. Speaking at an event during Climate Week in New York City, California Attorney General Rob Bonta said the state sued ExxonMobil after concluding a nearly two-year investigation that he said showed Exxon was…
Read MoreBoeing crisis sparks US regulator to revamp safety programmes
THE US Federal Aviation Administration (FAA) is working to overhaul its internal processes for identifying and addressing aviation safety risks in the wake of a mid-air blowout on a Boeing jet, the agency’s top official plans to tell lawmakers on Tuesday (Sep 24). The changes underway are intended to strengthen oversight across the agency, FAA…
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