Posts by Mark Darwin
Oil prices jump US$1 on Gulf Coast storm, post selloff recovery
OIL futures jumped by a dollar in early trading on Monday as a potential hurricane system approached the US Gulf Coast, and as markets recovered from a selloff following weaker-than-expected US jobs data on Friday. West Texas Intermediate crude futures rose US$1, or 1.48 per cent, to US$68.67 a barrel by 0146 GMT. Brent crude futures…
Read MoreGold slips below US$2,500 mark, market awaits further Fed guidance
GOLD prices remained steady on Monday (Sep 9) and was trading slightly below the key US$2,500 an ounce level, as the market awaited August inflation data for further insights into the anticipated Federal Reserve interest rate cut this month. Spot gold was nearly unchanged at US$2,497.53 per ounce, as at 0021 GMT. US gold futures…
Read MoreDigital Core Reit proposes to raise stake in Frankfurt data centre by up to 40%
DIGITAL Core Reit has proposed to raise its stake in a data centre in Germany by 0.2 to 40 per cent, said the real estate investment trust’s (Reit) manager on Monday (Sep 9). It would own between 50.1 and 89.9 per cent if the latest proposed acquisition from a wholly owned subsidiary of the sponsor…
Read MoreMini-mart king hits billionaire status in Malaysia’s hot IPO market
LEE Thiam Wah’s first retail venture was selling snacks from a roadside stall in Malaysia. Several decades later, the entrepreneur has transformed that humble beginning into a sprawling retail empire of more than 2,600 convenience stores across the nation. Today, the 60-year-old will be minted as a billionaire after his company 99 Speed Mart Retail…
Read MoreApple’s iPhone 16 to put AI features in focus, Huawei’s new phone racks up pre-orders
APPLE on Monday (Sep 9) is set to unveil its iPhone 16, focusing on how its flagship device’s features are infused with artificial intelligence, but it could be upstaged by a triple-folding smartphone released by China’s Huawei hours earlier. Apple’s event at the tech giant’s Apple Park headquarters starts at 10 am PDT (1700 GMT).…
Read MoreCouche-Tard set to affirm Seven & i interest after rejection
ALIMENTATION Couche-Tard plans to tell Seven & i Holdings that it’s still keen to pursue an acquisition, even after the Japanese convenience store operator rejected its initial proposal, people with knowledge of the matter said. The Canadian convenience retailer plans to write to Seven & i in the coming days to reiterate its interest in…
Read MoreAustralian airports face costly fight against worst climate risk
ALMOST all of Australia’s major airports including Sydney and Brisbane are vulnerable to the worst impacts of climate change, according to new analysis that spells out the threats to the multibillion-dollar investments favoured by large pension funds. The travel hubs face significant fallout from storms, floods, heat waves and high winds in coming years, the…
Read MoreCICT’s big acquisition, fundraising exercise are signs of what’s to come as Fed finally cuts rates
Investors looking to ride the coming rate cuts with Reits should be prepared to be tapped for funds from time to time THE first message that appeared on my phone last Tuesday (Sep 3) was from a longtime investor in real estate investment trusts (Reits), complaining about the impact that CapitaLand Integrated Commercial Trust’s (CICT)…
Read MoreUS to propose bank capital rule revisions as soon as this month
The US Federal Reserve and other regulators are poised to unveil sweeping changes to a slate of proposed capital rules for banks as they seek to overcome tough resistance from the industry, according to people familiar to the matter. The revisions, which run up to 450 pages, may be unveiled as soon as Sep 19…
Read More7 injured, including 1 hospitalised, as Singapore-Guangzhou Scoot flight hits turbulence
Seven people were injured when a Scoot flight from Singapore to the Chinese city of Guangzhou hit turbulence on the morning of Sep 6. One person was taken to hospital. In response to queries, Scoot said the flight encountered turbulence as it was approaching Guangzhou, adding that the Boeing 787-9 Dreamliner aircraft landed uneventfully at…
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