Posts by Stephanie Irvin
Singapore’s STI, Asia markets rise after US court blocks Trump’s reciprocal tariffs
[SINGAPORE] Singapore stocks rose on Thursday (May 29) morning, after a US trade court on Wednesday blocked US President Donald Trump’s “Liberation Day” tariffs from going into effect. As at 9.12 am, the Straits Times Index (STI) opened 0.2 per cent or 7.56 points higher at 3,919.48. Across the broader market, gainers outnumbered losers 106…
Read MoreHong Kong, Saudi bourses seek deeper ties to spur trading volume
[HONG KONG] Hong Kong and Saudi Arabia are ramping up efforts to boost trading activity as inflows to their exchange-traded funds (ETFs) wane and cross-listings fail to materialise. Hong Kong Exchanges & Clearing (HKEX) chief executive officer Bonnie Chan and Mohammed Al-Rumaih, her counterpart at the Tadawul stock exchange, are poised to address the co-hosted…
Read MoreChina’s Honor developing humanoid robots in US$10 billion AI plan
The company is building its own agentic AI services that will be integrated into its software for smartphones and other devices Published Thu, May 29, 2025 · 07:27 AM HONOR Device, the smartphone maker spun out from Huawei Technologies, is developing humanoid robots as part of its push into China’s crowded artificial intelligence (AI) arena.…
Read MoreFactory that symbolised Nissan’s rise may become victim of its decline
[YOKOSUKA, Japan] When Nissan’s Oppama plant opened in 1961, it was one of Japan’s first large-scale auto factories and a symbol of the company’s global ambitions. Sixty-four years and millions of cars later, the storied plant now faces possible closure as Nissan sinks deeper into crisis. New chief executive Ivan Espinosa unveiled sweeping cost cuts…
Read MoreOil gains on supply concerns, investors await July Opec+ output decision
[NEW YORK] Oil prices gained more than 1 per cent on Wednesday on supply concerns as Opec+ agreed to leave their output policy unchanged and as the US barred Chevron from exporting Venezuelan crude. Investors previously anticipated members of Opec+ would agree to a production increase later this week. Brent crude futures settled up 81 cents,…
Read MoreRGE, TotalEnergies to develop solar power plant with battery storage in Indonesia
[SINGAPORE] RGE and TotalEnergies on Wednesday (May 28) have signed a co-investment agreement to jointly develop a solar power plant with battery energy storage system in Riau Province, Indonesia. The utility-scale project will be developed through their equally owned joint venture Singa Renewables. As part of the Singapore-Indonesia electricity import framework, it will provide both…
Read MoreIndonesia antitrust agency finds risk of monopoly from TikTok’s Tokopedia takeover
The agency says it found rising market concentration and warned of possible post-acquisition price hikes due to increased dominance Published Wed, May 28, 2025 · 08:17 PM [JAKARTA] Indonesia’s antitrust agency on Wednesday (May 28) said last year’s takeover of the country’s biggest e-commerce platform Tokopedia by TikTok carried a risk of monopoly. TikTok, owned…
Read MoreCDL, MCL Land marketing Piccadilly Galleria retail podium for sale at lower price of S$67.5m
[SINGAPORE] Piccadilly Grand’s retail podium is up for sale for S$67.5 million, at a lower price after an earlier expression of interest exercise closed in November 2024. The ground-floor retail podium, known as Piccadilly Galleria, is part of a 99-year leasehold integrated development developed by City Developments Ltd (CDL) and MCL Land. The project is…
Read MoreNissan offers buyouts to US workers, halts global pay rises, internal emails show
[TOKYO] Japan’s Nissan has started offering buyouts to US workers and has suspended merit-based wage increases worldwide, internal emails reviewed by Reuters showed, as the automaker expands cost cuts amid weak performance in key markets. CEO Ivan Espinosa announced a new round of cost cuts this month that include closing seven production sites globally and…
Read MoreUK’s Thames Water fined £122.7 million over sewage and dividend breaches
[LONDON] Britain’s Thames Water, on the brink of financial collapse, will have to pay a record £122.7 million (S$213.3 million) fine for breaching its legal obligations over sewage treatment and dividend payments, regulator Ofwat said on Wednesday (May 28). The watchdog, which had previously issued a £104.5-million-penalty, added an additional £18.2 million to the fine…
Read More