Posts by Mark Darwin
Citadel posts worst return since 2018 as natural gas bets falter
This is partly due to erratic swings triggered by geopolitical turmoil, making trades hard to stick to [NEW YORK] Ken Griffin’s Citadel is on track for its worst annual return since 2018 after wagers on natural gas – previously a major driver of the hedge fund’s profits – fizzled. The flagship fund gained 9.3 per…
Read MoreMaersk completes first Red Sea voyage in nearly two years
The shipping company says it has no plans to fully reopen the route but may gradually resume sailing via Suez and the Red Sea [COPENHAGEN] Danish shipping company Maersk said on Friday (Dec 19) that one of its vessels successfully navigated the Red Sea and Bab el-Mandeb Strait for the first time in nearly two…
Read MoreSias calls on Singapore Paincare to clarify actions after failed privatisation bid
[SINGAPORE] The Securities Investors Association (Singapore), or Sias, called on medical services company Singapore Paincare to clarify its actions after its privatisation bid failed earlier this month. The move is in light of the impact the collapsed deal has on minority shareholders and Sias called on the board of directors of Singapore Paincare to provide greater…
Read MoreGoldman, JPMorgan see India’s record IPO boom extending to 2026
Fundraising expected to hit US$25 billion in 2026, and for the next few years to reach above US$20 billion [MUMBAI] India’s proceeds from initial public offerings (IPO) in 2026 may hit a record for a third year, with a strong pipeline and buoyant investor demand supporting momentum, said top investment bankers. Kotak Mahindra Capital and…
Read MoreNidec founder and chairman Nagamori quits board after spate of accounting issues
The 81-year-old has voluntarily resigned his post, the world’s largest maker of mini-motors says [TOKYO] Nidec said its founder Shigenobu Nagamori will step down from his position as chairman of the board, following the discovery of a series of accounting issues dating back years. The 81-year-old has voluntarily resigned his post, the world’s largest maker…
Read MoreOpenAI inks deals with US colleges, seizing early lead in education market
The company has sold more than 700,000 ChatGPT licences to about 35 public universities [NEW YORK] OpenAI has established a beachhead at many US colleges, overcoming university administrators’ wariness of artificial intelligence and giving ChatGPT a headstart on becoming the go-to assistant for the next generation of workers. The company has sold more than 700,000…
Read MoreBank of Japan hikes interest rates to 30-year-high of 0.75%
THE Bank of Japan on Friday hiked interest rates to 0.75 per cent, marking the first increase since January and its highest level in 30 years. The bank decided by a unanimous vote to raise its main rate from 0.5 per cent, it said in a statement. AFP Decoding Asia newsletter: your guide to navigating…
Read MoreBaht soars to 3-year high against Singdollar as it climbs on gold spike, yuan strength
Thai currency’s rise is fuelled by a soft US dollar, recent Fed easing and sharp acceleration in gold prices [SINGAPORE] The baht’s rally has pushed it to hit records and outshine regional peers as Asia’s second-best performing currency for 2025, sparking fears of the impact on the country’s export-driven economy, as well as highlighting tourism…
Read MoreStoneweg Europe Stapled Trust divests office asset in Italy for 34 million euros
Following the divestment, the trust’s exposure to Italy will fall from 18% to 17% [SINGAPORE] The managers of Stoneweg Europe Stapled Trust (Sert) on Friday (Dec 19) said that it has entered an agreement to sell a non-core office property in Italy – Amba Aradam Rome (Maxima) – for a consideration of 34 million euros…
Read MoreNike’s China conundrum deepens as turnaround stagnates
Nike’s stock is down 13% so far this year, on track for a fourth straight year of declines [NEW YORK] Nike is running out of time to prove its China playbook works. The US sportswear giant’s sixth straight quarterly sales decline in the country – including a 20 per cent drop in footwear – underscores…
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