Posts by Mark Darwin
Thai central bank may face more rate-cut pressure from new PM
THAILAND’S central bank is poised to keep the policy rate at a decade high this week as the economy gathers some steam but uncertainty about a US$14 billion handout may prompt a fresh wave of rate-cut pressure. Paetongtarn Shinawatra, the new prime minister and the third member of the Shinawatra clan to lead Thailand, has…
Read MoreOverseas funds return to Indonesian bonds on dovish Fed bets
INDONESIA’S bond market is set to erase its outflows for the year as overseas investors pile into rupiah debt amid imminent interest-rate cuts by the Federal Reserve. Global funds have bought almost US$1.1 billion of the nation’s government bonds this month, according to finance ministry data compiled by Bloomberg. That’s pared the net outflow from…
Read MoreChinese banks hold key lending rates after PBOC signals caution
CHINESE banks kept their benchmark lending rates unchanged for August, as profit margins come under pressure and policymakers focus on the health of financial institutions. The one-year loan prime rate (LPR) will stay at 3.35 per cent and the five-year rate, a reference for long-term credit including mortgages, remains at 3.85 per cent, according to…
Read MoreParamount likely to extend ‘go shop’ period if Bronfman bids
PARAMOUNT Global, which has agreed to merge with David Ellison’s Skydance Media, is likely to extend a deadline for rival takeover bids if Edgar Bronfman Jr makes an offer for the company before Wednesday (Aug 21) night, sources with knowledge of the matter said. Bronfman, a longtime media investor, is expected to make an offer…
Read MoreCocoa climbs as traders focus on crop prospects in West Africa
COCOA futures in New York rose to the highest price since late July, breaking out of last week’s largely rangebound trading. The most-active contract climbed as much as 7.2 per cent on Monday (Aug 19) as traders continued to parse prospects for production in key West African growers for the upcoming main crop season starting…
Read MoreUS: Wall St opens flat with focus on Jackson Hole
Wall Street’s main indexes opened flat on Monday (Aug 19) after clocking their best week of the year, while investors looked ahead to Federal Reserve Chair Jerome Powell’s speech at Jackson Hole for rate-cut indications. The Dow Jones Industrial Average rose 11.1 points, or 0.03 per cent, at the open to 40,670.83. The S&P 500…
Read MoreAMD to acquire server builder ZT Systems for US$4.9 billion in cash and stock
AMD on Monday (Aug 19) said it plans to acquire server maker ZT Systems for US$4.9 billion as the company seeks to expand its portfolio of artificial intelligence chips and hardware and battle Nvidia. AMD plans to pay for 75 per cent of the ZT Systems acquisition with cash and the remainder in stock. The…
Read MoreThai central bank to hold rates until Q2 2025, political turmoil risks early cut
THE Bank of Thailand (BOT) will keep interest rates unchanged on Wednesday (Aug 21) and through Q1 2025 to balance growth with inflation control while assessing the impact of ongoing political instability on the economy, a Reuters poll found. While inflation, at 0.83 per cent in July, remained below the BOT’s target range of 1…
Read MoreProperty groups should sell low-yielding investment properties, go slow in raising debt
ACCESS to debt appears fine for Singapore-listed property groups. Frasers Property announced in July that it had secured a sustainability-linked loan amounting to around S$904 million, comprising an Australian dollar tranche and a US dollar tranche. In early June, GuocoLand issued S$180 million of three-year notes at a fixed interest rate of 4.05 per cent…
Read MorePacific International Lines adds 5 LNG dual-fuel container vessels to fleet
SINGAPORE container carrier Pacific International Lines (PIL) is in the process of renewing its fleet, with an order for five liquefied natural gas (LNG) dual-fuel container vessels. Each one has a capacity of 13,000 twenty-foot equivalent units (TEU). PIL said on Monday (Aug 19) that the vessels are expected to be delivered progressively from end-2026.…
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