Posts by Mark Darwin
Booking.com’s price curbs on hotels may hinder competition: EU top court
ONLINE travel provider Booking.com’s restrictions against hotels offering lower rates on their websites or on rival sites are unnecessary and could reduce competition, the European Union’s top court said on Thursday (Sep 19) in a ruling. However, the court added the practices were not anti-competitive under EU law. Known as parity clauses and inserted into…
Read MoreUS dollar slips after Fed; Sterling, Aussie, Norwegian krone outperform
THE US dollar dropped on Thursday (Sep 19) after the Federal Reserve cut its interest rate by 50 basis points and revised its monetary policy outlook, with sterling, the Australian dollar and the Norwegian krone outperforming their peers. Expectations had drifted towards a dovish outcome in the days before the Fed’s decision on Wednesday, with…
Read MoreIndia IPO frenzy continues as state power firm’s unit plans 100 billion rupees listing
THE renewable-energy arm of India’s state-run power producer NTPC is seeking to raise as much as 100 billion rupees (S$1.5 billion) in its initial public offering, underscoring how the world’s busiest market for listings is now attracting bigger deals. NTPC Green Energy plans to use the proceeds to invest in its subsidiary, capitalising on India’s…
Read MoreSingapore stocks rise to 2007-level highs, cheered by US rate cut; STI up 1.1%
THE Singapore stock market was buoyant on Thursday (Sep 19) after the US Federal Reserve announced a 50-basis-point cut to the federal funds rate overnight. The Straits Times Index (STI) rose to its highest level since November 2007, rising 1.1 per cent or 40.76 points to 3,633.18. Of the 30 counters on the STI, just…
Read MoreSwiss watch industry warns of weakness even as exports rise
SWISS watchmakers warned of a worsening outlook for the industry, even as exports rose last month on demand for expensive timepieces made of precious metals. Exports increased 6.9 per cent by value to about two billion Swiss francs (S$3.1 billion) in August from a year earlier, the Federation of the Swiss Watch Industry said in…
Read MoreJapan walkie-talkie maker says investigating after Lebanon blasts
JAPANESE firm Icom said on Thursday (Sep 19) that it was investigating after media reported that two-way radio devices bearing its logo exploded in Lebanon. “Earlier today in worldwide media, there have been reports that two-way radio devices bearing the Icom logo have exploded in Lebanon,” the company said in a statement. “We are currently…
Read MoreIndonesia’s tax agency probes alleged personal data breach
The breach affects millions of Indonesians, including President Joko Widodo, his ministers and his two sons Indonesia’s tax agency is investigating an alleged data breach that exposes the taxpayer identification numbers of millions of Indonesians, including President Joko “Jokowi” Widodo, his ministers and his two sons, an official said. A series of cyber-attacks have hit…
Read MoreWaymo in talks with Hyundai Motor to produce self-driving taxis: report
ALPHABET’S Waymo is in talks with South Korea’s Hyundai Motor to outsource manufacturing of its self-driving vehicles, South Korean newspaper, Electronic Times, reported. Officials at Waymo and Hyundai Motor have met more than three times to discuss a plan to use Hyundai’s Ioniq 5 electric vehicles (EVs) for Waymo’s sixth-generation self-driving technology, the report said,…
Read MoreMeta and Spotify blast EU decisions on AI
A GROUP of companies including Meta and Spotify blasted the European Union on Thursday for its “fragmented and inconsistent” decision-making on data privacy and artificial intelligence (AI). The firms along with several researchers and industry bodies signed an open letter claiming that Europe was already becoming less competitive and risked falling further behind in the…
Read MoreChina says will negotiate ‘until the last minute’ on EU EV probe
CHINA’S commerce minister said on Wednesday (Sep 18) that Beijing will continue to negotiate “until the last minute” on the European Union’s electric vehicle (EV) probe, with the investigation undermining confidence of Chinese companies investing in Europe. Wang Wentao was speaking in Brussels at a China-Europe Electric Vehicles event where around 30 top executives of…
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