Posts by Mark Darwin
Philippine central bank cuts banks’ reserve requirement ratios from Oct 25
The reserve requirement ratios (RRR) for universal and commercial banks will be cut by 250 basis points to 7% The Philippine central bank said on Friday (Sep 20) it will reduce the amount of reserves that commercial banks are required to hold by 250 basis points from October 25, and said the inflation outlook meant…
Read MoreChina dairy farms swim in milk as fewer babies, slow economy cut demand
CHINA is awash in unwanted milk as falling birth rates and cost-conscious consumers have cut demand even as dairy farms expanded in recent years, forcing smaller farmers out of business and squeezing shipments into the world’s top importer. China’s milk surplus illustrates the unintended consequences of Beijing’s food security-driven efforts to boost its dairy sector…
Read MoreSats, Sinotrans to collaborate on strategic projects in ground, cargo handling
The collaboration will extend across their respective networks and include setting up gateway hubs for Sinoair SATS will collaborate with Chinese logistics company Sinotrans Air Freight (Sinoair) in ground and cargo-handling services across their respective networks, said the ground handler and in-flight caterer on Friday (Sep 20). The two companies are also in talks for…
Read MoreAsia: Markets track Wall Street record to extend global rally
ASIAN markets built on Friday on the latest global rally after a jumbo US interest rate cut, while the yen edged up as focus turns to the Bank of Japan policy decision later in the day. Traders have been put in a bullish mood by the Federal Reserve’s decision to go big on its first…
Read MoreGold hovers near record high as traders navigate Fed’s giant rate cut
GOLD prices steadied near record highs on Friday (Sep 20) and were poised for a weekly gain, as markets adjusted to the US Federal Reserve’s recent super-sized interest rate reduction and signs that further cuts were on the horizon. Spot gold held its ground at US$2,586.98 per ounce, as at 0028 GMT, and has climbed…
Read MoreSingapore shares open lower on Friday; STI down 0.1%
SINGAPORE stocks began Friday (Sep 20) trading in negative territory, despite gains in global equities overnight. As at 9.03 am, the Straits Times Index (STI) dropped 4.72 points or 0.1 per cent to 3,628.46. Across the broader market, gainers outnumbered losers 69 to 57, after 60.5 million securities worth S$98.1 million changed hands. Offshore and…
Read MoreStocks to watch: OUE Reit, TalkMed
THE following companies saw new developments that may affect trading of their securities on Friday (Sep 20): OUE Real Estate Investment Trust (OUE Reit): The Reit priced S$180 million in fixed-rate green notes due 2031 at 3.9 per cent, said the manager on Thursday. Net proceeds from this issuance will refinance or fund eligible green…
Read MoreMercedes slashes outlook in latest blow to German industry
MERCEDES-BENZ Group cut its financial forecast for the year as the luxury-car maker cited a rapid deterioration of its business in China, marking the latest blow to Germany’s struggling industrial sector. Mercedes-Benz Cars now expects its adjusted return on sales to be between 7.5 per cent and 8.5 per cent, compared with a prior forecast…
Read MoreFedEx slumps on quarterly profit miss, narrowed 2025 outlook
FEDEX cut the top end of its full-year profit outlook and reported quarterly earnings below expectations on softer demand for package deliveries. In what chief executive officer Raj Subramaniam called “a challenging quarter”, the Memphis-based company said it was hurt by lower demand for priority services as customers traded down to cheaper shipping options. …
Read MoreGermany eyes Uniper IPO after historic energy crisis bailout
GERMANY’S government took a first step towards privatising Uniper, the utility it nationalised at the peak of Europe’s energy crisis in 2022 after Russia curbed gas flows to the region. The nation’s finance ministry said an initial public offering is its preferred option for selling the company, according to a statement. It’s also considering off-market…
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