Posts by Mark Darwin
71% of large Singapore listcos aim for net zero emissions by 2050, but more interim targets needed: study
SOME 71 per cent of billion-dollar issuers on the Singapore Exchange (SGX) have set a target to hit net-zero emissions by 2050 or earlier, shows a study released on Monday (Jul 8). However, many have not disclosed the interim milestones towards achieving their targets, said the study by the Accounting and Corporate Regulatory Authority (Acra)…
Read MoreTokyo faces tight power supply on scorching heat, outages
A hot start to summer across the Northern Hemisphere threatens to boost power demand and tighten global supplies of fuel like gas and coal Hotter-than-normal summer temperatures are stretching the Tokyo grid, prompting the metropolitan region’s utility to urge consumers to use electricity efficiently. The day-ahead spot price for the Tokyo region spiked to 21.9…
Read MorePrudential appoints new group chief agency officer
Pankaj Banerjee will take the lead in driving the insurer’s technology-powered distribution strategy PRUDENTIAL has appointed Pankaj Banerjee as its new group chief agency officer, it said on Monday (Jul 8). Banerjee will assume the role on Sep 30 and report to Lilian Ng, managing director of Prudential’s strategic business group. In his new role,…
Read MoreHow Singapore’s port relates to your portfolio
In this issue:
Read MoreTSMC shares up 3% on expectations of tight 2025 supply
Taiwan’s stock market rose by more than 300 points to close at a fresh high on Monday (Jul 8) on the back of strong performances by chipmaker Taiwan Semiconductor Manufacturing Co (TSMC) and iPhone-assembler Hon Hai Precision Industry. Market sentiment improved as investors witnessed major indexes for the US markets hit record highs at the…
Read MoreMalaysia’s Petronas adds three new LNG vessels ahead of LNG Canada start-up
MALAYSIAN state energy firm Petroliam Nasional Berhad (Petronas) on Monday (Jul 8) said it would add three energy-efficient liquefied natural gas (LNG) vessels to its North American operations. The addition of the vessels, which brings the total number in Petronas’ fleet in North America to six, comes ahead of the start-up of LNG Canada’s gas-export…
Read MoreBattery maker LG Energy’s profit sinks on global EV slowdown
BATTERY maker LG Energy Solution’s second-quarter profit missed analyst estimates, as sales of electric vehicles (EVs) continued to slow. Operating profit for three months ended Jun 30 dropped 58 per cent from a year earlier to 195.3 billion won (S$191 million), the Seoul-based company said Monday. That was lower than estimates of 282 billion won,…
Read MoreChina’s central bank takes more control over rates by adding temporary repos
CHINA’S central bank will conduct temporary bond repurchase or reverse repurchase operations in the afternoon, in addition to its traditional morning operations, tightening its control over short-term interest rates. The People’s Bank of China (PBOC) said it will conduct such operations “depending on the market situation” between 4 pm and 4.20 pm each working day,…
Read MoreOil little changed as investors eye impact of storm Beryl on Texas
OIL prices were little changed as investors eyed energy supply disruption, with the largest ports in Texas shut before Tropical Storm Beryl likely strengthens into a hurricane and makes landfall on Monday. Brent crude futures inched up 11 cents, or 0.1 per cent, to US$86.65 a barrel as at 0042 GMT after closing down 89…
Read MoreHawkish RBNZ seen unswayed by signs of deepening economic slump
NEW Zealand’s central bank will likely reiterate this week that interest rates need to stay high for a sustained period, even as households hunker down amid signs of a deepening economic downturn. The Reserve Bank of New Zealand (RBNZ) will keep the Official Cash Rate (OCR) at 5.5 per cent for an eighth straight meeting…
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