Posts by Mark Darwin
US spot ether ETFs see net inflows of US$106 million on first day
THE nine exchange-traded funds (ETFs) tied to the spot price of ether, the world’s second-largest cryptocurrency, scooped up net inflows of US$106 million on Tuesday (Jul 23) as they began trading on US stock exchanges, according to data from CF Benchmarks and several trading firms. The funds that pulled in most of those assets were…
Read MoreApac distressed credit and infrastructure top MSCI private asset Q1 performance rankings
DISTRESSED credit and infrastructure were the best-performing asset classes among Asia-Pacific private capital funds in Q1, according to data collated by MSCI. Pooled quarterly returns for distressed private credit hit 9.8 per cent for the quarter; private infrastructure returns came in at 4.2 per cent. The figures, which are not annualised, represent significant improvements from…
Read MoreChina banks trim deposit rates to bolster record-low margins
INDUSTRIAL & Commercial Bank of China (ICBC) and Agricultural Bank of China lowered rates on some deposit products, easing pressure on profit margins following earlier cuts to lending rates. ICBC cut rates on deposits of two years or more by 20 basis points to 1.45 to 1.8 per cent. Rates for time deposits of up…
Read MoreFord profits tumble on higher costs, hitting shares
FORD shares tumbled on Wednesday (Jul 24) after the automaker reported lower than expected profits on higher costs connected to product launches and warranty repairs for older model vehicles. Profits fell 4.5 per cent to US$1.8 billion, while revenues rose 6.3 per cent to US$47.8 billion. The results translated into per-share profits that lagged analyst…
Read MoreMichelin’s half-year operating margin increases despite instability in Europe
FRENCH tyre maker Michelin reported a 4.2 per cent drop in half-year sales on Wednesday (Jul 25), slightly below analysts’ expectations, citing an unstable economic environment in Europe and a weak performance in the French market. But the company managed to increase its segment operating margin thanks to its pricing policy. Europe is struggling to…
Read MoreMicrosoft aims to boost AI workload capacity with Lumen partnership
MICROSOFT will use Lumen Technologies’ network equipment to expand its capacity for AI workloads, the companies said on Wednesday (Jul 24), as the technology giant looks to meet growing demand at its data centres. Microsoft said in April that a shortage of data centre infrastructure needed to deploy AI models was hampering its ability to…
Read MoreFrasers Centrepoint Trust’s retail portfolio Q3 occupancy hits 99.7%
Its manager says the rise in shopper traffic and tenant sales comes from active asset and property management, and government support for spending THE manager of Frasers Centrepoint Trust (FCT) on Wednesday (Jul 24) announced that its committed occupancy for its retail portfolio grew 1 percentage point year on year to 99.7 in the third…
Read MoreUnited Overseas Insurance declares S$0.085 dividend per share on higher H1 2024 earnings
UNITED Overseas Insurance (UOI) reported an 18.8 per cent growth in its earnings for the first half of 2024 to S$14.2 million, from S$11.9 million in the first half of 2023. In a bourse filing on Wednesday (Jul 24), the insurer reported a 9.8 per cent rise in revenue for the first half to S$51…
Read MoreOUE Reit H1 DPU falls 11.4% despite higher revenue, net property income
OUE Real Estate Investment Trust (OUE Reit) reported a distribution per unit (DPU) of S$0.0093 for the first half of its fiscal year ended Jun 30, down 11.4 per cent from S$0.0105 in the corresponding year-ago period, its manager announced on Wednesday (Jul 24). This is even as its revenue and net property income (NPI)…
Read MoreDigital Core Reit 1H 2024 DPU falls due to divested properties
DIGITAL Core Real Estate Investment Trust (Reit) reported a 6.3 per cent fall in distribution per unit (DPU) to US$0.018 for the first half of 2024 from US$0.0192 in H1 2023. In a bourse filing on Wednesday (Jul 24), the data centre Reit’s manager announced that the Reit’s revenue for the same time period fell…
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