Posts by Stephanie Irvin
Oil prices rise 3% on support from US-China trade hopes
[NEW YORK] Oil prices rose around 3 per cent on Thursday (May 8), buoyed by hopes of a breakthrough in looming trade talks between the US and China, the world’s two largest oil consumers. Brent crude futures settled up US$1.72, or 2.8 per cent, at US$62.84 a barrel. US West Texas Intermediate crude rose US$1.84,…
Read MoreFar East Orchard Q1 net profit more than doubles to S$17.3 million
[SINGAPORE] Hospitality and student housing player Far East Orchard’s net profit more than doubled to S$17.3 million for the first quarter ended Mar 31, 2025, from S$6.9 million the previous corresponding period, the company announced on Thursday (May 8). The significant rise in its Q1 net profit was driven by a one-off gain of S$9.2…
Read MoreWeakening US dollar expected to yield mixed impact for Singapore companies with significant exposure
[SINGAPORE] Asian currencies have rallied against the US dollar on the back of concerns that US President Donald Trump’s tariff war will hurt the world’s largest economy. But market watchers warn that the Singapore dollar’s strength against the greenback could cut both ways for companies here. This week, the Singapore dollar rose to trade at…
Read MoreWeakening greenback to benefit Singapore firms with significant exposure to debts, costs in US dollar
[SINGAPORE] Asian currencies have rallied against the US dollar on the back of concerns that US President Donald Trump’s tariff war will hurt the world’s largest economy. But market watchers warn that the Singapore dollar’s strength against the greenback could cut both ways for companies here. This week, the Singapore dollar rose to trade at…
Read MoreBank 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…
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