Posts by Mark Darwin
China’s solar giant Longi says it will adjust production amid ‘complex’ environment
CHINA’S Longi Green Energy Technology, one of the world’s largest solar panel manufacturers, said on Tuesday (Jun 4) it would “adjust” production amid a “complex industry environment”, but remains optimistic about the sector’s future. The photovoltaic industry has been hit by various factors including price changes and trade policy adjustments this year, Longi said in…
Read MoreAlibaba considering convertible bond sale, following JD.com
Alibaba Group Holding is considering selling convertible bonds to raise about US$5 billion, people familiar with the matter said, following a US$1.75 billion offering by rival Chinese online retailer JD.com this week. Alibaba has spoken with investment banks about selling bonds that can be converted into US-listed stock, the people said, asking not to be…
Read MoreGlobal Invacom, Keong Hong, Green Build Technology added to SGX watch list
SATELLITE communications equipment provider Global Invacom : QS9 0%, construction player Keong Hong : 5TT 0% and green-energy solutions provider Green Build Technology : Y06 0% will be put on the watch list of the Singapore Exchange Regulation (SGX RegCo) from Wednesday (Jun 5). SGX RegCo undertakes a review of all mainboard-listed companies every six…
Read MoreSubsidiary, chairman of EC World Reit’s sponsor liable for US$11.3 million after loan default
AN application has been filed against Forchn International (FIPL) and the chairman of its parent company for an order that they are jointly and severally liable to pay US$11.3 million to Franklin Medici Alternative Investment. Forchn Holdings Group, the parent company of FIPL, is also the sponsor of EC World Real Estate Investment Trust (Reit).…
Read MoreAustralia’s Qantas back Boeing to bounce back from crisis
AUSTRALIAN airline Qantas on Tuesday (Jun 4) backed Boeing to bounce back from an unprecedented crisis that has led to an overhaul of the American planemaker’s management and drawn scrutiny and criticism from some of its biggest customers. Boeing is searching for a new chief executive after announcing that Dave Calhoun would step down by…
Read MoreAirbus in talks to sell more than 100 widebody jets to China
Airbus is negotiating a major sale of A330neo aircraft to China, with talks gaining momentum since President Xi Jinping visited his French counterpart Emmanuel Macron last month. The largest Chinese airlines are considering buying more than 100 of the upgraded A330 models, according to people familiar with the matter. The terms are still being discussed,…
Read MoreSwiss financial regulator wants to be able to name and shame banks
SWISS financial regulator Finma wants to be able to name and shame banks which breach its rules, Chief Executive Stefan Walter told newspaper NZZ in an interview published on Tuesday (Jun 4). The call is one of Finma’s demands for increased powers after the authority came under fire over its handling of Credit Suisse’s collapse…
Read MoreIndia shares plunge as Modi’s likely weaker win leads to policy worries
Indian stocks suffered their worst intraday fall since March 2020 on Tuesday (Jun 4), as vote counting trends in the general election suggested Prime Minister Narendra Modi’s alliance was unlikely to win the overwhelming majority predicted by exit polls. With about half the votes counted, Modi’s own Bharatiya Janata Party (BJP) looked unlikely to secure…
Read MoreVietnam expands massive bank rescue effort on deposit exodus, document shows
VIETNAM’S central bank lent another US$1.2 billion to ailing Saigon Joint Stock Commercial Bank (SCB) over the last two months, according to a bank document seen by Reuters, taking the total to US$24.5 billion as part of its efforts to rescue depositors. The massive bailout of SCB’s depositors has so far cost the central bank…
Read MorePhilippine central bank rejects rate-cut call that weakened peso
PHILIPPINE central bank governor Eli Remolona pushed back against the rate cut outlook given by the country’s finance chief, describing it as “too aggressive”. Finance Secretary Ralph Recto last week said the central bank could deliver 150 basis points in rate reductions to 2025. But Remolona said at a forum in Manila on Tuesday (Jun…
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