Posts by Mark Darwin
China’s state banks ramp up US dollar buying to stabilise renminbi: sources
The combined actions of the lenders mark a reversal from last year’s efforts to defend the weakening renminbi [SHANGHAI/BEIJING] China’s major state-owned banks ramped up US dollar buying in the onshore foreign exchange market in recent weeks, people with knowledge of the matter said on Friday (Oct 10), as analysts said the move was aimed…
Read MoreWhy BYD faces a raft of troubles
Since authorities earlier this year stepped up scrutiny of the bruising price war in China that helped fuel the group’s rise, its sales momentum has stalled BYD has spent the last five years racing ahead. In 2024, with the help of government support, aggressive pricing and overseas expansion, the Chinese carmaker surpassed Tesla to become…
Read MoreComfortDelGro’s quiet tech play and why it’s not sweating GrabCab
Grab says it won’t poach rival drivers, but its entry may intensify Singapore’s tight market [SINGAPORE] Within just a decade, Grab has gone full circle from an entrant challenging incumbent taxi companies to becoming one itself. In July, three months after getting a street-hail license in Singapore, it launched its own taxi service GrabCab. With…
Read MoreDelta electronics shares slump in Bangkok due to exchange curbs
The stock has more than tripled in price from its April low, boosted by optimism over its role as maker of components for artificial-intelligence data centres [BANGKOK] Delta Electronics (Thailand) shares slide the most in four months after the stock exchange imposed market surveillance measures on the securities following their record-breaking rally. The stock declined…
Read MoreStocks to watch: Seatrium, Thakral, Fu Yu, Capital World
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Oct 10):
Read MoreWho is the CEO of Verizon?
Do you have Verizon? If you never heard of it or live under a rock, Verizon is a well-known brand of telecommunications that is used all over the world by many countries. But, how much do you know of the history and the CEO of Verizon? Perhaps there is a lesson in there to be…
Read MoreUS: Wall Street subdued at open after Powell offers no rate clues
[NEW YORK] Wall Street’s main indices posted subdued gains at Thursday’s (Oct 9) open, after Federal Reserve chair Jerome Powell offered no fresh policy signals, leaving investors to rely on older data to shape sentiment. The Dow Jones Industrial Average rose 20.5 points, or 0.04 per cent, to 46,622.31 at the open. The S&P 500…
Read MoreLaunch of knowledge hub aims to beef up AI use among financial institutions: Chee Hong Tat
[SINGAPORE] The Monetary Authority of Singapore (MAS) has launched an artificial intelligence (AI) knowledge hub to help the city-state’s financial institutions strengthen their capabilities in the implementation of AI. The resources of the hub, accessible to more than 80 financial institutions, include successful AI use cases curated by industry participants in key areas such as…
Read MoreFerrari lifts the hood on EV tech in maiden electric car
The unveiling offers a glimpse into the brand’s EV future, marking a major milestone in the auto industry’s shift from combustion to battery power [MARANELLO] Ferrari has unveiled the technology which will power its hotly-anticipated first electric car, the Elettrica, as the 78-year-old luxury Italian sportscar maker looks to add battery power to its hybrid…
Read MoreUniqlo owner Fast Retailing posts record profit for fourth year
The apparel maker beats its own forecast, with operating profit jumping to 564.3 billion yen [TOKYO] Japan’s Fast Retailing, owner of global clothing brand Uniqlo, booked its fourth consecutive year of record profit on Thursday (Oct 9), citing strong sales in Japan and results in the US that compensated for higher tariffs. Operating profit jumped…
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