Posts by Mark Darwin
Singapore shares rise at Wednesday’s open; STI up 1%
SINGAPORE shares started trading in the positive territory on Wednesday (Aug 7) mirroring overnight gains in global markets. As at 9.01 am, the Straits Times Index (STI) opened 1 per cent or 31.29 points higher at 3,229.73. Across the broader market, gainers outnumbered losers 81 to 30 after 21 million securities worth S$36.5 million changed…
Read MoreStocks to watch: Venture, Riverstone, Dyna-Mac, Cromwell E-Reit, Elite UK Reit
THE following companies saw new developments that may affect trading of their securities on Wednesday (Aug 7):
Read MoreMicrosoft hits back at Delta in clash over system breakdown
MICROSOFT said Delta Air Lines turned down repeated offers for assistance following last month’s catastrophic system outage, echoing claims by CrowdStrike Holdings in an increasingly contentious conflict between the carrier and its technology partners. Microsoft employees reached out to Delta to give technical support every day from Jul 19 to Jul 23, and “each time…
Read MoreBoeing details production issues at 737 MAX 9 mid-air emergency hearing
THE US National Transportation Safety Board on Tuesday (Aug 6) is questioning key witnesses from Boeing, Spirit AeroSystems and the Federal Aviation Administration on the mid-air cabin panel blowout of an Alaska Airlines 737 MAX 9 door plug in January. During the start of its two-day investigative hearing, the board released 3,800 pages of factual…
Read MoreCSE Global H1 earnings up 36.4%, boosted by growth of electrification business
TECHNOLOGY solutions provider CSE Global reported a profit of S$15 million for the first half of FY2024, up 36.4 per cent from the corresponding period in 2023. Revenue for H1 was up 22.8 per cent to S$428.9 million, led by the growth of its electrification business segment. The electrification business segment grew 32.4 per cent…
Read MoreUS: Wall Street opens higher after global sell-off
WALL Street’s main indices opened higher on Tuesday (Aug 6) as investors hunted for bargains after a global stocks rout in the previous session, while dovish rate commentary from Federal Reserve officials also lifted the mood. The Dow Jones Industrial Average rose 1.16 points at the open to 38,704.43. The S&P 500 opened higher by…
Read MoreUS dollar rebounds broadly, yen weakens for first day this month
THE Japanese yen steadied on Tuesday (Aug 6), and the US dollar climbed against most currencies, as some of the more striking moves of recent days reversed somewhat, and a hint of calm returned to markets. The dollar was last at 144.75 yen, up 0.6 per cent on the day, the first day it has…
Read MoreUS to give SK hynix US$450 million for chip packaging hub
THE United States said on Tuesday (Aug 6) it has agreed to provide up to US$450 million to South Korean semiconductor firm SK hynix to help build a chip packaging plant in the US state of Indiana. The award is the latest from the US government as it looks to cement its lead in the…
Read MoreVenture Corp H1 profit down 11.7% to S$123.7 million on lower revenue, demand
TECHNOLOGY solutions provider Venture Corporation reported a net profit of S$123.7 million for the first half of the year ended Jun 30, down 11.7 per cent from S$140 million in the corresponding period a year ago. In a bourse filing on Tuesday (Aug 6), it proposed an interim dividend of S$0.25 per share, unchanged from…
Read MoreRiverstone H1 net profit up 54.6% as demand for gloves recovers
New production lines are expected to be progressively commissioned by the end of this year MALAYSIAN glovemaker Riverstone Holdings posted a 54.6 per cent increase in net profit to RM144.7 million (S$42.9 million) for the six months ended Jun 30, 2024, from RM93.6 million a year ago. Revenue was up 7.4 per cent to RM496.4…
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