Posts by Mark Darwin
Citigroup is looking to hire talent in Hong Kong in wealth push
CITIGROUP plans to add talent in Hong Kong as it’s bullish on the city and its links with the surrounding Greater Bay Area in mainland China, according to its wealth chief. “What you are going to see is us looking to add talent on a selective basis,” Andy Sieg said in a Bloomberg Television interview…
Read MoreGold prices edge higher on prospect of steeper US rate cuts
GOLD prices inch higher on Monday (Sep 16), supported by a weaker US dollar and on the prospect of a more aggressive rate reduction by the US Federal Reserve at its upcoming policy meeting. Spot gold was up 0.2 per cent at US$2,580.81 per ounce, as at 0020 GMT. Bullion rose to a record high…
Read MoreSabana Reit’s EGM to vote on proposed internal manager directors to be postponed: trustee
THE trustee of Sabana Industrial Real Estate Investment Trust (Sabana Reit) has asked to postpone the trust’s extraordinary general meeting (EGM) to vote on the proposed internal manager directors. This came weeks after it asked the requisitionists to amend their resolutions and obtain approval from the Monetary Authority of Singapore (MAS) on the proposed candidates.…
Read MoreWorld braces for Fed easing amid 36-hour rate rollercoaster
THE world economy’s tectonic plates will shift this week when a US easing cycle begins, just as officials from Europe to Asia set policy against a backdrop of brittle markets. A 36-hour monetary rollercoaster will start with the US Federal Reserve’s probable decision to cut interest rates on Wednesday (Sep 18), and finish on Friday…
Read MoreBMW took two years to find extent of defect behind recall
IT TOOK BMW more than two years to discover the extent of a braking system fault that is expected to cost the carmaker nearly one billion euros (S$1.4 billion) to fix. Customers and dealers began complaining to the German auto manufacturer about faulty brakes in June 2022, according to a recall document seen by Bloomberg…
Read MoreAustralia’s plan to scrap AT1 bonds unlikely to affect Singapore banks
SINGAPORE banks are unlikely to face any near-term impact from a proposal by Australia’s banking regulator to phase out the use of additional tier-1 (AT1) bonds, analysts said. The local banks will only be affected if Singapore’s regulators follow suit, but analysts said this is unlikely to happen given the nature of investors in Singapore…
Read MoreBaltic Exchange Shipping Insights
Capesize The Capesize market experienced a mixed week, beginning with positive sentiment but gradually facing increasing pressure. It was a slow start, although optimism remained as the BCI 5TC rose by $400 to $28,232, driven by limited but stronger Pacific fixtures. However, cargo volume and market momentum began to wane, particularly in the Pacific, leading…
Read MoreSmall markets steal limelight as global equities rally broadens
After being sidelined by investors for much of this year, some smaller equity markets are suddenly winning favour. The trend is particularly evident in Asia, where Thailand, Singapore and New Zealand rank as the top performers in September. Their benchmarks have risen at least 3 per cent each so far, even as MSCI’s gauge of…
Read MoreTemasek said to near stake purchase in Blackstone-owned VFS
Temasek Holdings is nearing a deal to buy a significant minority stake in VFS Global, according to people familiar with the matter, a transaction that could value the visa outsourcing and technology services firm at about US$7 billion including debt. The Singapore state-owned investor is poised to acquire about 20 per cent in closely held…
Read MoreTemasek said to be near stake purchase in Blackstone-owned VFS
Temasek Holdings is nearing a deal to buy a significant minority stake in VFS Global, according to people familiar with the matter, a transaction that could value the visa outsourcing and technology services firm at about US$7 billion including debt. The Singapore investment company is poised to acquire about 20 per cent in closely held…
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