Posts by Mark Darwin
Trump baffles with sudden U-turn on China buying Iranian oil
[WASHINGTON] US President Donald Trump on Tuesday (Jun 24) appeared to undermine years of US sanctions on Iran, giving its biggest customer, China the green light to carry on buying its oil as he seeks to bolster a ceasefire with Israel. The announcement on social media, which surprised both oil traders and officials in his…
Read MoreTrump baffles with sudden U-turn on China buying Iranian oil
[WASHINGTON] US President Donald Trump on Tuesday (Jun 24) appeared to undermine years of US sanctions on Iran, giving its biggest customer, China the green light to carry on buying its oil as he seeks to bolster a ceasefire with Israel. The announcement on social media, which surprised both oil traders and officials in his…
Read MoreTesla sales skid in Europe in May despite EV rebound
The EU aims to end sales of new internal combustion engine cars in 2035, but high prices and a perceived lack of charging infrastructure have given consumers pause Published Wed, Jun 25, 2025 · 01:09 PM [PARIS] Tesla missed out on Europe’s rebounding electric vehicle (EV) sales last month as the political activities of its…
Read MoreAsia: Stocks rally as Iran-Israel ceasefire holds, oil claws back some losses
[HONG KONG] Most equities extended a global rally on Wednesday (Jun 25) after Iran and Israel agreed to a ceasefire that ended more than a week of hostilities, while the US dollar struggled to recover from a sharp drop stoked by bets on a US interest rate cut. However, wariness over the agreement by the…
Read MoreST Engineering divests entire equity interest in US-based construction player LeeBoy for US$290 million
[SINGAPORE] Singapore Technologies Engineering (ST Engineering) on Tuesday (Jun 24) announced that it will be selling its entire equity interest in ST Engineering LeeBoy, a US-based construction equipment manufacturer, for an estimated US$290 million. The net proceeds from the sale will amount to around US$246 million, and will be used for debt repayment, resulting in…
Read MoreLabubu’s Pop Mart share tumble does not faze analysts, who flag company’s growth story
[SINGAPORE] Analysts are still bullish on Chinese toy company favourite – Pop Mart International Group – despite its recent share price plunge, in view of its sustained popularity as an intellectual property (IP)-centric company. The Labubu craze has sent Pop Mart’s shares up by more than 170 per cent since the start of the year.…
Read MoreChina’s wealth fund pulls plug on US$1 billion private equity sale
[BEIJING] China’s sovereign wealth fund has pulled its planned sale of US$1 billion in US fund stakes tied to some of the biggest names in private equity. Earlier this year, China Investment Corporation (CIC) looked to offload fund positions with firms including Carlyle Group, KKR, and TPG to reduce its US exposure. Months later, it…
Read MorePing An builds HK$180 billion stake in China banks on dividend bet
[HONG KONG] Ping An Insurance Group, as well as other Chinese insurers, have ramped up investments in the nation’s biggest banks on a bet that the dividend yields will outweigh headwinds of narrower margins and earnings pressure. Ping An has since late 2024 boosted its holdings of Hong Kong-listed stocks in some of the nation’s…
Read MoreBlackBerry raises annual revenue forecast on robust demand for cybersecurity services
The Waterloo-based company’s expects revenue between US$234 million and US$244 million for the unit, from its prior forecast of US$230 million to US$240 million Published Wed, Jun 25, 2025 · 07:05 AM [MEXICO CITY] Canada’s BlackBerry raised its annual revenue forecast on Tuesday (Jun 24), anticipating steady demand for its cybersecurity services amid growing online…
Read MoreUS: Wall St indexes open higher after Trump’s Israel-Iran ceasefire announcement
Published Tue, Jun 24, 2025 · 09:43 PM [NEW YORK] Wall Street’s main indexes opened higher on Tuesday (Jun 24) as President Donald Trump announced a ceasefire between Israel and Iran, calming investor nerves after the 12-day conflict hurt global risk assets and fanned inflation concerns. The Dow Jones Industrial Average rose 225.3 points, or…
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