Posts by Mark Darwin
Stocks to watch: OCBC, Great Eastern, Wing Tai, Yoma, No Signboard
THE following companies saw new developments that may affect trading of their securities on Friday (Jun 28): OCBC, Great Eastern: The bank will take its insurance arm private only if the “conditions are acceptable and in the interests of OCBC and its shareholders”. Responding to queries from the Securities Investors Association (Singapore), or Sias, OCBC said…
Read MoreHuawei’s Harmony aims to end China’s reliance on Windows, Android
PACKED into a small room, a drone, bipedal robot, supermarket checkout and other devices showcase a vision of China’s software future – one where an operating system developed by national champion Huawei has replaced Windows and Android. The collection is at the Harmony Ecosystem Innovation Centre in the southern city of Shenzhen, a local government-owned…
Read MoreEuropean shares subdued ahead of economic data, French elections; H&M plunges
EUROPEAN shares slipped on Thursday (Jun 27) on investor caution ahead of crucial global economic data and the first round of French elections, while retailer H&M sank after missing quarterly profit forecasts. The pan-European Stoxx 600 closed 0.4 per cent lower, extending losses for the third straight sessions. Retail stocks led sectoral declines with a…
Read MoreIndonesia’s auto sales slump as savings erode and borrowing costs rise
Carmakers pin hope on fresh incentives to boost sales as economic woes take their toll [JAKARTA] Indonesia’s ambitions to become a key player in the electric vehicle (EV) industry are challenged by an automotive sector still struggling to recover from the pandemic, with national car sales dropping 21 per cent year on year in May…
Read MoreSaudi Aramco to buy 10% stake in Renault, Geely auto JV
The transaction is set to value Horse Powertrain at around 7.4 billion euros with Renault and Geely keeping roughly 45 per cent each SAUDI Aramco is poised to take a stake of about 10 per cent in a powertrain joint venture with Renault and China’s Zhejiang Geely Holding Group, according to people familiar with the…
Read MoreUS: Wall St opens lower after economic data; Micron dents chip stocks
US main stock indexes slipped at the open on Thursday (Jun 27) as a slump in Micron after a lacklustre forecast weighed on some semiconductor stocks, while investors parsed a string of economic data ahead of this week’s crucial inflation report. The Dow Jones Industrial Average fell 20.70 points, or 0.05 per cent, at the…
Read MoreGovernment cuts industrial land supply on confirmed list by 30% in H2
The five confirmed sites are in Jalan Papan, Lok Yang Way, Tuas Bay Drive, Kaki Bukit and Tukang Innovation Drive THE government has launched five sites on the confirmed list and another five sites on the reserve list with a total site area of 13 hectares under its Industrial Government Land Sales programme for the…
Read MoreUBS revamps how it sells private asset funds as demand booms
It will combine the bank’s fund selection of its Global Wealth Management division and its institutional asset management business UBS Group is seeking to cement its position as top-five player among global limited partners, by pooling all of the bank’s private-markets offerings into one unit. The business, Unified Global Alternatives (UGA), will combine the bank’s…
Read MoreMercedes-Benz spending more than previously planned on combustion engines
MERCEDES-BENZ is investing more than previously planned in combustion engine technology, including 14 billion euros (S$20.3 billion) this year on its passenger cars, its chief executive told German publication Wirtschaftswoche. The premium carmaker was investing in factories and in research and development, reworking the drive train of its hybrid cars so that it “lasts well…
Read MoreSpaceX tender offer said to value company at record US$210 billion
SPACEX will sell insider shares at US$112 apiece in a tender offer, a higher-than-expected price that boosts the value of Elon Musk’s space and satellite company closer to US$210 billion, according to sources familiar with the matter. The company was last valued at US$180 billion in a transaction in December, Bloomberg News reported. The world’s…
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