Posts by Stephanie Irvin
UAE company plans nuclear power plant in Indonesia
UAE firm Emirates Global Aluminium (EGA) plans to build a nuclear power plant with a capacity of up to five gigawatts in Indonesia, the Indonesian economic affairs ministry said in a statement issued on Wednesday (Feb 12). The ministry also said high electricity prices and a lack of low-carbon electricity had delayed plans for EGA…
Read MoreSeatrium jumps 8.3% to S$2.49 after MOU with BP
SHARES of Seatrium surged on Thursday (Feb 13) after it announced its memorandum of understanding (MOU) with BP Exploration & Production, a subsidiary of multinational oil and gas company BP, for a floating production unit (FPU) in the US Gulf of America. At 11.31 am, it climbed to S$2.49, up 8.3 per cent or S$0.19…
Read MoreSeatrium jumps 12.6% to S$2.59 after MOU with BP
SHARES of Seatrium surged on Thursday (Feb 13) after it announced its memorandum of understanding (MOU) with BP Exploration & Production, a subsidiary of multinational oil and gas company BP, to conduct engineering works on a floating production unit (FPU) in the Gulf of Mexico. At 1.20 pm after the midday trading break, the counter…
Read MoreOsim overhauls product details after competition watchdog raises concerns
THE Competition and Consumer Commission of Singapore (CCCS) received a complaint in 2021 from a customer who purchased an Osim product and realised it was not suitable for use after opening the packaging and reading the manual. This was one of the concerns that the competition watchdog flagged on Thursday (Feb 13) over the transparency…
Read MoreOpec warns that US trade policy risks stoking market volatility
ORGANIZATION of the Petroleum Exporting Countries (Opec) warned that President Donald Trump’s trade policies risk stoking volatility in global markets. The new tariffs have “added more uncertainty into markets, which has the potential to create supply-demand imbalances that are not reflective of market fundamentals, and therefore generate more volatility”, the oil producers’ group said in…
Read MoreNissan and Honda set to update on relationship after merger talks stall
After backing away from merger talks, Nissan is now open to working with new partners, with Taiwan’s Foxconn seen as one candidate NISSAN and Honda are expected to lay out a new stage in their uncertain relationship on Thursday (Feb 13), one that is likely to see them formally call off a plan to merge…
Read MoreChevron to lay off up to 20% of global workforce
CHEVRON will lay off 15 to 20 per cent of its global workforce by the end of 2026, the US oil company said on Wednesday (Feb 12) as it seeks to cut costs, simplify its business, and complete a major acquisition. The No 2 US oil producer has faced production challenges including cost overruns and…
Read MoreEurope: Shares end at record peak on earnings boost; tariffs eyed
EUROPEAN shares eked out an all-time high on Wednesday (Feb 12), as investors cheered earnings reports from Heineken and ABN Amro, although some caution around US inflation data and trade policies prevailed. The pan-European Stoxx 600 index settled a choppy session up 0.1 per cent, with Germany’s benchmark also at a record peak. European…
Read MoreSorry, T-bills. It’s time to look elsewhere for yields
INTEREST in Singapore’s Treasury bills (T-bills) surged over the past two years, as rising interest rates elevated demand for yield and stable returns. T-bills also found favour as investors sought the safety of the government-backed, fixed-income instrument – which carry little to no default risk – amid heightened global macroeconomic uncertainty. But with yields gradually…
Read MoreChina launches new rocket crucial to challenging Musk’s Starlink
A NEW Chinese rocket took off on its debut mission, marking a major step in Beijing’s effort to catch up with Elon Musk’s Starlink. The first Long March 8A rocket launched from the Wenchang Space Launch Site in Hainan, the island province in the South China Sea, at 5.30 pm local time, state media reported. …
Read More