Posts by Mark Darwin
Oil finishes down on possible OPEC+ output hike
[HOUSTON] US crude futures fell on Friday (May 30) as traders expected Opec+ would decide on Saturday to boost oil output for July beyond previous forecasts. Brent crude futures settled down 25 cents, or 0.39 per cent, at US$63.90 a barrel. US West Texas Intermediate crude finished down 15 cents, or 0.25 per cent, at…
Read MoreUS: Wall St opens lower as Trump says China violated tariff terms
Published Fri, May 30, 2025 · 09:40 PM [NEW YORK] Wall Street’s main indexes opened lower on Friday (May 30) as trade worries deepened after US President Donald Trump accused China of violating a tariff agreement, while investors assessed the latest inflation data. The Dow Jones Industrial Average fell 23.4 points, or 0.06 per cent,…
Read MoreOlam secures US$1.85 billion loan
The first tranche is a US$1.6 billion conventional loan, while the remaining US$250 million will be issued as an Islamic loan [SINGAPORE] Agribusiness giant Olam has secured a US$1.85 billion loan for general corporate purposes, said the company on Friday (May 30) via a bourse filing. The loan, which was taken by Olam Agri –…
Read MoreSingapore stocks fall as Trump tariffs resume for now; STI retreats 0.6%
[SINGAPORE] Local equities ended Friday (May 30) lower, after an appeals court in the United States paused a ruling that blocked President Donald Trump’s sweeping tariffs. The benchmark Straits Times Index declined 0.6 per cent or 22.23 points to 3,894.6. Across the broader market, decliners beat gainers 248 to 209, as 1.3 billion securities worth…
Read MoreEMA grants conditional licence to RGE, TotalEnergies’ Indonesian solar project to import electricity to Singapore
[SINGAPORE] The Energy Market Authority (EMA) on Friday (May 30) granted a conditional licence to Singa Renewables, a joint venture (JV) between RGE and TotalEnergies, to import 1 gigawatt (GW) of low-carbon electricity from Indonesia to Singapore. This is the sixth electricity import project to be awarded a conditional licence, after EMA in September 2024…
Read MoreEnergy Market Authority chairman Richard Lim to step down; ex-perm sec Tan Ching Yee to assume role
[SINGAPORE] Energy Market Authority (EMA) chairman Richard Lim, 71, will step down in September after leading the board for five years. Lim will relinquish his appointment on Sep 30, the Ministry of Trade and Industry (MTI) said on Friday (May 30). He will be succeeded by former permanent secretary of the Prime Minister’s Office for…
Read MoreIHH Healthcare revenue could soften on medical inflation measures
[SINGAPORE] IHH Healthcare will likely face “some softening of (patient admissions) and revenue” from measures the group has implemented to combat medical inflation in Malaysia, but the situation has “improved considerably”, said its group chief executive Dr Prem Nair on Friday (May 30). The group is now negotiating directly with insurers, offering more packages and…
Read MoreAsia: Markets reverse as appeals court gives Trump tariffs reprieve
[HONG KONG] Asian shares fell on Friday after a US appeal court gave Donald Trump’s sweeping tariffs a temporary reprieve, fanning uncertainty a day after judges had ruled the controversial measures were unconstitutional. The losses reversed a rally across world markets the previous day as analysts warned that the legal wrangling could compound volatility and…
Read MoreJardine Matheson Holdings names Lincoln Pan as CEO-designate ahead of group managing director John Witt’s retirement
[SINGAPORE] Hong Kong-based conglomerate Jardine Matheson Holdings on Thursday (May 29) announced the appointment of Lincoln Pan as chief executive-designate, as group managing director John Witt will retire from the company in late-November. Pan is a partner, co-head of private equity and member of the group executive committee at alternative investment business PAG. He assumes…
Read MoreUS asks judge to dismiss criminal charge over Boeing 737 Max crashes
Published Fri, May 30, 2025 · 08:40 AM THE US Justice Department asked a federal judge in Texas to dismiss its criminal case against Boeing over two fatal crashes of its 737 Max jets more than six years ago, despite objections of family members of some crash victims. The move disclosed on Thursday in a court filing…
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