Posts by Stephanie Irvin
Bank Negara Malaysia holds rate at 3% amid output growth, flags tariff risks
[KUALA LUMPUR] Malaysia’s central bank kept its key interest rate steady at 3 per cent on Thursday (May 8), opting for policy stability amid resilient domestic demand and a better-than-expected rebound in industrial activity, even as clouds gather over global trade due to rising US tariffs and geopolitical tensions. Bank Negara Malaysia said the decision…
Read MoreMaersk cuts global container market outlook on tariff war
Maersk sees global container volume market in the range of 1% decline to growth of 4% this year Published Thu, May 8, 2025 · 03:18 PM [COPENHAGEN] AP Moller-Maersk, the Danish container giant, lowered its forecast for the global transport market rattled by Donald Trump’s trade war. Maersk sees global container volume market in the…
Read MoreToyota warns of profit drop as tariff chaos threatens carmakers
[TOKYO] Toyota Motor is bracing itself for a bumpy year, with the Japanese carmaker warning of a slump in profit as global manufacturers scramble to shield themselves from US President Donald Trump’s tariff turmoil. The company forecasts an operating income of 3.8 trillion yen (S$34.2 billion) for the year ending Mar 31, 2026, it said…
Read MoreUnless things take a turn for the worse, the Fed seems comfortable to keep rates on pause indefinitely
[SINGAPORE] The US Federal Reserve does not want any part of US President Donald Trump’s trade war, and it is determined to sit on the sidelines until the extent of the war’s casualties becomes clear. As widely anticipated, the Fed left its benchmark rate unchanged in a range between 4.25 per cent and 4.5 per cent.…
Read MoreThailand to shortlist central bank chief candidates by July 2, official says
[BANGKOK] A Thai selection committee plans to shortlist candidates to be the next central bank chief by Jul 2, an official said on Thursday (May 8), ahead of the end of incumbent Governor Sethaput Suthiwartnarueput’s five-year term in September. The new Bank of Thailand governor will face a tough task of steering the country’s underperforming…
Read MoreZombie oil supertanker in China points to Iran trade workarounds
[HONG KONG] After buckling under pressure from Beijing and Washington, the clandestine supply chain that carries Iranian crude to China is finding new workarounds. A tanker identifying itself as Global discharged about two million barrels of Iranian oil at a port managed by a Chinese provincial government in late April, ship-tracking data show. However, the…
Read MoreBank of Japan split over how US policies impact rate hikes: March minutes
Published Thu, May 8, 2025 · 09:30 AM [TOKYO] Bank of Japan policymakers were divided in March over how soon the central bank should raise interest rates again as uncertainty stemming from US tariff policies heightened, minutes of their meeting showed on Thursday. “Downside risks stemming from US policies had rapidly heightened and, depending on…
Read MoreSingapore stocks open weaker as Fed leaves rates unchanged; other Asian markets mixed
DBS up on Q1 results, dividend announcement; Reits among most actively traded counters fall in early trade [SINGAPORE] Singapore stocks opened weaker on Thursday (May 8) following the overnight announcement by the US Federal Reserve that it will be holding rates steady. While Fed chair Jerome Powell noted that the US economy had “continued to…
Read MoreBubble tea billionaire ranks swell after latest Hong Kong IPO
[HONG KONG] China’s bubble tea market is overflowing with rivals and fierce price clashes – yet it’s set to produce another billionaire couple. On Thursday (May 8), Auntea Jenny (Shanghai) Industrial is scheduled to start trading in Hong Kong, raising HK$273 million (S$46 million) with a listing price of HK$113.12, the top of the range.…
Read MoreGranite Asia’s first private credit fund hits US$250 million
[SINGAPORE] Granite Asia announced that it has secured over US$250 million from anchor investors for its first private credit fund, Libra Hybrid Capital Fund. In a press release on Thursday (May 8), the multi-asset platform said that anchor investors include top Asian sovereign wealth funds, as well as Granite Asia’s general partners and its network…
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