Posts by Mark Darwin
IMF warns of dim outlook for world economy hit by rolling shocks
The global economy is expected to grow by 3.2% this year, up from 3% predicted in July [WASHINGTON] The International Monetary Fund warned that the global economy is showing signs of strains from sweeping US tariffs and protectionism – even though it has held up better than expected. The global economy is expected to grow…
Read MoreIndonesia considers further liquidity injection for state banks
Finance minister says government still assessing impact of 200 trillion rupiah liquidity boost for state banks [JAKARTA] Indonesia is considering injecting more liquidity into the country’s state banks, its finance minister said on Monday (Oct 13) after a meeting with economists, bankers and brokerage executives. Purbaya Yudhi Sadewa did not specify the amount, adding that…
Read MoreApple sued over use of copyrighted books to train Apple Intelligence
A separate group of authors sue the company last month for allegedly misusing their work in artificial intelligence training APPLE was hit with a lawsuit in California federal court by a pair of neuroscientists who say that the tech company misused thousands of copyrighted books to train its Apple Intelligence artificial intelligence model. Susana Martinez-Conde…
Read MoreGold’s record run creates new rulebooks for investors
Its soaring run comes as investors bet heavily on US rate cuts and concern grows about the greenback’s role as the world’s top reserve currency [LONDON] Investors are testing well-established views about gold, which is surging to new records, as an artificial-intelligence-driven stocks rally and red-hot Bitcoin force a rethink of what is driving one…
Read MoreChina’s state banks ramp up US dollar buying to stabilise renminbi: sources
The combined actions of the lenders mark a reversal from last year’s efforts to defend the weakening renminbi [SHANGHAI/BEIJING] China’s major state-owned banks ramped up US dollar buying in the onshore foreign exchange market in recent weeks, people with knowledge of the matter said on Friday (Oct 10), as analysts said the move was aimed…
Read MoreWhy BYD faces a raft of troubles
Since authorities earlier this year stepped up scrutiny of the bruising price war in China that helped fuel the group’s rise, its sales momentum has stalled BYD has spent the last five years racing ahead. In 2024, with the help of government support, aggressive pricing and overseas expansion, the Chinese carmaker surpassed Tesla to become…
Read MoreComfortDelGro’s quiet tech play and why it’s not sweating GrabCab
Grab says it won’t poach rival drivers, but its entry may intensify Singapore’s tight market [SINGAPORE] Within just a decade, Grab has gone full circle from an entrant challenging incumbent taxi companies to becoming one itself. In July, three months after getting a street-hail license in Singapore, it launched its own taxi service GrabCab. With…
Read MoreDelta electronics shares slump in Bangkok due to exchange curbs
The stock has more than tripled in price from its April low, boosted by optimism over its role as maker of components for artificial-intelligence data centres [BANGKOK] Delta Electronics (Thailand) shares slide the most in four months after the stock exchange imposed market surveillance measures on the securities following their record-breaking rally. The stock declined…
Read MoreStocks to watch: Seatrium, Thakral, Fu Yu, Capital World
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Oct 10):
Read MoreWho is the CEO of Verizon?
Do you have Verizon? If you never heard of it or live under a rock, Verizon is a well-known brand of telecommunications that is used all over the world by many countries. But, how much do you know of the history and the CEO of Verizon? Perhaps there is a lesson in there to be…
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