Posts by Mark Darwin
Chinese EV giant BYD ramps up hiring as Beijing prioritises employment
BYD has significantly ramped up hiring, increasing its workforce to more than 900,000 people as at Friday (Sep 13), a senior manager said, making the Chinese electric vehicle giant one of the largest employers in the country. The move comes as the Chinese government has been prioritising a push to create more jobs, for college…
Read MoreSTI closes at yet another high; ends the week up 3.1%
The index is up 10 per cent this year, putting it on track for its best year since 2017 THE Straits Times Index (STI) ended Friday (Sep 13) at 3,562.65 points, up 6.1 points or 0.2 per cent, and marking its fourth consecutive close at a 52-week high. Advancers beat decliners 346 to 189, with…
Read MoreIndonesia sees growing rate cut bets ahead of meeting next week
An increasing number of economists see a chance that Indonesia’s central bank could lower its policy rate as early as next week, sooner than the fourth quarter timeline that policymakers had signalled previously. Bank Indonesia could cut its key BI-rate by a quarter-point to 6 per cent when it meets on September 18, just hours…
Read MoreChina demand slump weighs on Moutai in trade before fall holiday
The liquor maker’s counter, which has slipped about 25% this year, is setting the company up for its worst annual performance since 2013 SHARES of Kweichow Moutai were set for their biggest-ever fall in trading for the day before the Mid-Autumn festival as China’s sluggish economy dented demand for its liquor and other premium goods.…
Read MoreBoeing workers going on strike after 96% vote for walkout
BOEING’S US West Coast factory workers will walk off the job after 96 per cent voted on Thursday (Sep 12) in favour of a strike, halting production of the planemaker’s strongest-selling jet as it wrestles with chronic output delays and mounting debt. The workers’ first strike since 2008 will start at midnight Pacific time (0700…
Read MoreTrump allies are working on plans to privatise Fannie and Freddie: WSJ
ALLIES of Republican US presidential candidate Donald Trump and bankers have been discussing plans on ending US government control of the mortgage-finance firms Fannie Mae and Freddie Mac if he wins the election, the Wall Street Journal reported on Thursday. Trump confidants including former National Economic Council director Larry Kudlow and former White house presidential…
Read MoreMalaysia says its tech boom will withstand US election ripples
MALAYSIA’S goal of boosting investments in its growing technology exports sector is unlikely to be affected by the results of the US election, according to Trade and Industry Minister Zafrul Aziz. “We built a strong ecosystem around the semiconductor industry and it has been a major part of our exports,” Zafrul said on Friday (Sep…
Read MoreGold prices hover near record peak with weekly gains in sight
GOLD prices hovered near an all-time high on Friday (Sep 13), and poised for a weekly gain due to a weaker US dollar, while investors focused on US economic data that could offer additional insights into the Federal Reserve’s policy decision. Spot gold was flat at US$2,558.19 per ounce, as at 0051 GMT, and has…
Read MoreGold hits successive record highs ahead of expected Fed rate cut
Gold rose to a record high, building on a surge of nearly 2 per cent on Thursday, as the dollar extended declines ahead of a widely expected Federal Reserve rate cut next week. Bullion climbed as much as 0.6 per cent to US$2,572.98 an ounce on Friday (Sep 13), putting it on track for a…
Read MoreSecond Chance loses free float; offeror to exercise right of compulsory acquisition
THE offerors of Second Chance Properties – chief executive Mohamed Salleh and his family – will be making a compulsory acquisition of all the shares of the company. As at 6 pm on Thursday (Sep 12), the total number of shares owned, controlled or agreed to be acquired by Salleh and his family, as well…
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