Posts by Mark Darwin
SIAEC in the cross hairs of Malaysian ire highlights aviation MRO sector’s deepening woes
Skilled worker and spare parts shortages causing challenges and friction, including unfounded allegations of staff poaching THE recent woes at Malaysia’s national carrier have put Singapore-listed SIA Engineering Company (SIAEC) in the cross hairs of Malaysian politicians. The maintenance, repair and overhaul (MRO) arm of Singapore Airlines (SIA) has been accused by some Malaysian opposition…
Read MoreCiti CFO expects investment banking fees to rise 20% in third quarter
CITIGROUP’S investment banking fees are expected to jump 20 per cent in the third quarter from a year earlier, chief financial officer Mark Mason told investors at a conference in New York on Monday (Sep 9). The gains are being driven by a good pickup in activity across debt capital markets and mergers and acquisitions,…
Read MoreUS: Wall St opens higher on soft landing optimism
Wall Street’s main indexes opened higher on Monday (Sep 9) following heavy losses last week, as investors remained optimistic about soft landing prospects for the US economy ahead of a crucial inflation report later in the week. The Dow Jones Industrial Average rose 209.7 points, or 0.52 per cent, at the open to 40,555.11. The…
Read MoreUS dollar recovers as traders scale back bets of big Fed rate cut
THE US dollar rallied against the yen and other major currencies on Monday (Sep 9) as investors looked ahead to US inflation data after Friday’s mixed payrolls report sparked uncertainty about the size of a Federal Reserve rate cut next week. The yen weakened more than 1 per cent to 143.56 per dollar, retreating from…
Read MoreChina plans to include steel, cement and aluminium in its carbon market in 2024
CHINA is seeking public feedback on a plan to include cement, steel and aluminium production in its carbon emissions trading scheme by the end of the year, the Ministry of Ecology and Environment said on Monday (Sep 9). Including these three additional sectors could bring the greenhouse gas covered by the exchange to around 60…
Read MoreAsian Development Bank says president Asakawa to leave in early 2025
THE Asian Development Bank (ADB) said on Monday (Sep 9) its president, Masatsugu Asakawa, announced his intention to step down from his position, effective Feb 23, 2025. The Yomiuri newspaper reported earlier on Monday that Japan is set to back former top financial diplomat Masato Kanda as a candidate for the next ADB president. A…
Read MoreSingapore’s STI lifted by three banks, ends up 1.2% on Monday
THE Straits Times Index ended Monday (Sep 9) at 3,496.53 points, up 1.2 per cent or 42.06 points, thanks to upward movements at all three local banks. OCBC was the biggest winner, rising 2.5 per cent or S$0.37 to close the day at S$15. DBS closed up 1.8 per cent or, S$0.66, at S$37.19. UOB…
Read MoreChinese car sales fall for fifth straight month
PASSENGER vehicle sales in China fell in August for the fifth straight month, industry data showed on Monday (Sep 9), though sales of all-electric and plug-in hybrid models rose, helped by subsidies for drivers trading in more polluting vehicles. Sales fell 1.1 per cent from the same month a year earlier to 1.92 million vehicles,…
Read MoreCenturion unit to set up JV companies to retrofit, manage China residential housing
ACCOMMODATION assets operator Centurion Corporation’s indirect wholly owned subsidiary, Centurion China Investments, will set up two joint venture companies with Xiamen City Home Apartment Management. The companies will retrofit, renovate and/or manage and operate Build-To-Rent residential accommodation in Xiamen, China for working professionals. This marks Centurion’s first foray into the Build-To-Rent accommodation market…
Read MoreChina’s Midea Group launches HK$26.97 billion share offering in Hong Kong
CHINESE home appliance maker Midea Group on Monday (Sep 9) launched a share offering of about HK$26.97 billion (S$4.5 billion) in Hong Kong, according to its filings, in the city’s largest listing in more than three years. The company, listed in Shenzhen, has allotted around 492.1 million shares for the Hong Kong offering, the filing…
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