Posts by Stephanie Irvin
Gold falls on easing trade war concerns; US data awaited
Published Tue, Apr 29, 2025 · 10:47 AM [BENGALURU] Gold prices fell on Tuesday (Apr 29) as easing trade tensions between the US and its trading partners dented the metal’s safe-haven appeal, while investors awaited US economic data to assess the Federal Reserve’s policy path. Spot gold fell 0.3 per cent to US$3,332.99 an ounce…
Read MoreChina’s CICC eyes Middle East, South-east Asia in global push
[NEW YORK] China International Capital Corporation (CICC), one of the nation’s largest brokerages, is seeking to tap the growing demand for cross-border financial services in the Persian Gulf and South-east Asia as the firm pushes its global expansion. Beijing-based CICC is gearing up to open a new branch in Dubai to target sovereign wealth funds…
Read MoreUOI Q1 profit before tax dips 3% to S$7.8 million on lower non-underwriting income
The fall is attributed to lower non-underwriting income, which dropped 12% to S$3.7 million [SINGAPORE] United Overseas Insurance (UOI), the general insurance arm of UOB, posted a profit before tax of S$7.8 million for the first quarter of FY2025, down 3 per cent from the S$8 million logged in the previous corresponding period. The fall…
Read MoreIBM to invest US$150 billion in US over next five years to aid quantum push
[BENGALURU] IBM will invest US$150 billion in the US, including on facilities for quantum computer production, over the next five years, the latest American technology company to back the Trump administration’s push for local manufacturing. The company’s announcement on Monday (Apr 28) follows similar pledges by tech giants such as Nvidia and Apple, both of…
Read MoreThree Abu Dhabi giants plan stablecoin backed by UAE’s currency
Growing popular worldwide, stablecoins are typically pegged to traditional currencies, which makes them less vulnerable to price volatility like other digital tokens, such as Bitcoin Published Tue, Apr 29, 2025 · 06:38 AM [CAIRO] Three major Abu Dhabi entities, including a sovereign wealth fund, plan to launch a stablecoin fully regulated by the central bank…
Read MoreChina’s Sinopec partners with Saudi Aramco’s unit in 28.8 billion yuan JV
Published Mon, Apr 28, 2025 · 08:32 PM [BENGALURU] China’s state-run Sinopec said on Monday (Apr 28) it had signed an agreement with a unit of Saudi Aramco to establish a joint venture company with a registered capital of 28.80 billion yuan (S$5.2 billion). The agreement was signed by Sinopec, its unit Fujian Petroleum Chemical…
Read MoreStoneweg European Reit Q1 DPU falls 3.7% to 3.374 euro cents
[SINGAPORE] The distribution per unit (DPU) of Stoneweg European Real Estate Investment Trust (SERT) declined 3.7 per cent to 3.374 euro cents for the first quarter ended Mar 31, from 3.505 euro cents in the year-ago period. This was despite a 2.4 per cent increase in net property income to 33.5 million euros (S$49.9 million),…
Read MoreLMIRT Q1 net property income dips 2.4% to S$29.2 million
[SINGAPORE] Lippo Malls Indonesia Retail Trust (LMIRT) on Monday (Apr 28) posted a 2.4 per cent decline in net property income to S$29.2 million for the first quarter ended Mar 31, from S$29.9 million a year prior. This came amid a 3.4 per cent depreciation of the rupiah to the Singapore dollar, said the trust’s…
Read MoreSingapore stocks close lower on Monday; STI falls 0.3%
The biggest decliner on the index is UOB, and the top gainer is Yangzijiang Shipbuilding [SINGAPORE] Shares on the Singapore market ended lower on Monday (Apr 28), after the city-state’s central bank sounded a cautious note about the economy’s growth outlook. The Republic’s latest employment report also cast more pessimism, with the government forecasting further…
Read MoreLatest NZ$2.80-per-share offer by CDL unit still ‘too low and inadequate’: M&C New Zealand
[SINGAPORE] The independent directors of Millennium & Copthorne Hotels New Zealand (MCK) do not recommend shareholders of MCK to accept the increase of CDL Hotels Holdings New Zealand’s (CDLHH NZ) offer price to NZ$2.80 per ordinary share. “While the independent directors welcome the increase in the offer, we believe it is still too low and…
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