Posts by Mark Darwin
Gold prices heads for quarterly rise; spotlight on inflation data
GOLD prices edged lower on Friday (Jun 28) but were headed for their third consecutive quarterly rise, while investors looked towards key US inflation data due later in the day that could throw some light on the Federal Reserve’s stance on interest rate cuts. Spot gold was down 0.3 per cent at US$2,321.39 per ounce,…
Read MoreTesla’s design changes confuse drivers and undercut EV quality
TESLA no longer stands above other electric vehicles (EVs) in quality because head-scratching design changes on its cars, such as removing turn-signal stalks, have frustrated its owners and lowered its score in a bellwether quality survey. Long the EV quality leader, Tesla now is on par with rivals such as Rivian Automotive and the battery-powered…
Read MoreStocks 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…
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