Posts by Mark Darwin
Singapore’s May air freight jumps 20%; port’s box throughput highest this year
THE congestion at sea has benefited air transport, with Singapore’s Changi Airport reporting a 20 per cent year-on-year jump in air freight handled to 170,000 tonnes in May, from 142,000 tonnes. Meanwhile, container throughput at Singapore’s port in May also reached the highest level this year, at 3.5 million 20-foot-equivalent units (TEUs, referring to the…
Read MoreThai central bank chief warns against inflation target reset
THAILAND’S central bank governor warned that any move to raise the monetary authority’s inflation target may unanchor expectations and result in quickening price gains, which carries risks for economic growth. “The current inflation target range is appropriate for the circumstances and it has worked well,” governor Sethaput Suthiwartnarueput said on Tuesday (Jun 18). Raising…
Read MoreSingapore-based Trafigura tops inaugural Fortune 500 ranking for S-E Asia
COMMODITY trader Trafigura has come in first on the inaugural South-east Asian edition of the Fortune 500 list, a ranking of the largest companies by revenue. On Tuesday (Jun 18), Fortune said that Trafigura dominated the ranking with sales of US$244 billion. “The privately held commodity trader in minerals, metals and energy had the fewest…
Read MoreAustralia will launch ‘holistic’ payments review under new remit
AUSTRALIA’S central bank is working with the government to modernise the country’s regulatory framework for retail payments, following which it will launch a “holistic review” of the sector, a senior official said. “There are many interesting policy issues to explore, including the cost and transparency of payment services and how we can promote competition that…
Read MoreUS Surgeon General calls for social media warning labels to protect adolescents
US SURGEON General Vivek Murthy on Monday called for a warning label to be added to social media apps as a reminder that those platforms have caused harm to young people, especially adolescents. In an op-ed in the New York Times, Murthy wrote that a warning label alone will not make social media safe for…
Read MoreUS: Nasdaq, S&P 500 close at new record highs
WALL Street stocks began the week on a strong note, with both the S&P 500 and Nasdaq finishing at fresh records spurred by continued enthusiasm over artificial intelligence. The tech-rich Nasdaq Composite Index led the major indices, climbing 1.0 per cent to 17,857.02, a closing record for the sixth straight day. The Dow Jones Industrial…
Read MoreApple to discontinue ‘buy now, pay later’ service in US as it plans new loan programme
APPLE on Monday (Jun 17) said it will discontinue its “buy now, pay later” (BNPL) service in the United States as it launches a new loan programme. Users will be able to access instalment loans offered through credit, debit cards and lenders when checking out with Apple Pay, starting later this year, Apple said. “This…
Read MoreSerial Achieva seeks access to capital markets to grow regional IT distribution business
IN its bid to grow in South-east Asia, IT products and computer peripherals distributor Serial Achieva is seeking access to capital markets through a reverse takeover (RTO) transaction with Catalist-listed Axington Inc. Serial Achieva mainly distributes consumer products, but chairman Sean Goh sees an opportunity for the company to move towards serving the enterprise space.…
Read MoreSabana Reit manager, trustee deny allegations that bond issuance impedes internalisation or is ‘highly abnormal’
THE manager and trustee of Sabana Industrial Real Estate Investment Trust (Sabana Reit) have hit back at claims that its upcoming sustainability-linked bond issuance could put the Reit in “financial jeopardy” or “complicate and impede” its internalisation process. They were responding to allegations made by activist investor Quarz Capital in a letter dated Jun 14.…
Read MoreUBS begins major share buyback programme
UBS has begun a share buyback programme announced earlier this year, and repurchased 44.8 million Swiss francs (S$67.9 million) worth of shares last week, the Swiss bank said on Monday (Jun 17). UBS has said the buyback programme would be worth up to US$1 billion this year. Share buybacks and dividends are seen by analysts…
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