Posts by Mark Darwin
Oil ends week higher as investors take stock of Fed rate cuts
Oil prices settled lower on Friday (Sep 20) but recorded a second straight week of gains, garnering support from a US interest rate cut and a dip in US supply. Brent futures settled down 39 US cents or 0.52 per cent at US$74.49 a barrel. US WTI crude futures settled down 3 cents or 0.4…
Read MoreUS dollar firms against yen after BOJ cautious tone over rate hikes
THE US dollar strengthened against the yen on Friday (Sep 20) after the Bank of Japan left interest rates unchanged and indicated that it was not in a hurry to hike them again. The BOJ could afford to spend time eyeing the fallout from global economic uncertainties, governor Kazuo Ueda said in a press conference…
Read MoreFed’s relaxed bank-capital plan faces bipartisan FDIC pushback
A PLAN to dial back US regulators’ landmark bank-capital proposal is running into a wall of resistance at the Federal Deposit Insurance Corp (FDIC). At least three of five FDIC directors oppose the latest overhaul previewed by the Federal Reserve last week, according to people familiar with their thinking. Democrat Rohit Chopra has joined the…
Read MoreUS: Wall St slips at open as investors pause after rate-cut driven surge
Wall Street’s main indexes opened slightly lower on Friday (Sep 20) as investors held back after a jump in the previous session that was sparked by an oversized interest rate cut by the Federal Reserve. The Dow Jones Industrial Average fell 65.8 points, or 0.16 per cent, at the open to 41,959.43. The S&P 500…
Read MoreMarsh, Tokio Marine Kiln launch port disruption insurance amid shipping chaos
BROKER Marsh and Lloyd’s underwriter Tokio Marine Kiln (TMK) have set up business interruption insurance for ports to provide cover against growing trade disruption risks such as threats to shipping in the Red Sea, executives said. Ports acround the world are dealing with multiple issues that are disrupting the flows of goods, such as attacks…
Read MoreIndia’s Solar Energy to invest 180 billion rupees in renewables by 2030, mulls IPO
STATE-OWNED Solar Energy Corporation of India (SECI) on Friday (Sep 20) pledged to invest 180 billion rupees (S$2.9 billion) in equity for renewable capacity expansion by 2030, and announced plans to go public in the next one to two years. Large power producers in India have been investing heavily in renewables and committing to expand…
Read MoreThai rice exports to exceed target this year but decline in 2025, association says
Thailand’s rice exports could exceed target and reach 8.5 million metric tons this year, before falling to 6.5 million tons in 2025 as the strength of the baht weighs on demand, its rice exporters association said on Friday (Sep 20). The association had targeted 8.2 million tons of rice exports this year and about 5.7…
Read MoreTokyo Metro, Rigaku set stage for US$3 billion Japan IPOs as listings gather pace
JAPAN’S Tokyo Metro and Rigaku on Friday (Sep 20) kicked off the processes to launch a combined US$3.1 billion in initial public offerings (IPOs) next month, according to term sheets, as the local capital markets emerge as a global hotspot for investors. Tokyo Metro will aim to raise 320 billion yen (S$2.9 billion) – making…
Read MoreMalaysia’s king to seek funds for high-speed rail on China visit
Malaysia’s king is planning to seek funding from Chinese investors for a multibillion dollar high-speed rail project between the South-east Asian country and Singapore, according to people familiar with the matter. Sultan Ibrahim Iskandar is looking for investment from a Chinese state-owned company, the people said, asking not to be identified because the information is…
Read MoreAussie shares hit record high close, log best week in a month on US rate cut cheer
Australian shares notched a record closing high for the fifth straight session on Friday (Sep 20) and logged their biggest weekly rise in a month, as global optimism in the aftermath of an oversized US interest rate cut overshadowed concerns over domestic jobs report. The S&P/ASX 200 index closed 0.2 per cent higher at 8,209.50…
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