Posts by Stephanie Irvin
Air cargo cost from China to US poised to sink with Trump change
THE cost to fly goods to the US from China is poised to fall as much as 50 per cent after President Donald Trump cut off a key tariff exemption used by Chinese e-commerce giants including PDD Holdings’s Temu and Shein, according to Zvi Schreiber, chief executive officer of Freightos Group, a leading air-freight booking…
Read MoreBain is said to near 500 billion yen deal for Mitsubishi pharma unit
BAIN Capital is nearing a deal to buy Mitsubishi Chemical Group’s pharmaceutical unit, sources familiar with the matter said, adding to a dealmaking boom in Japan. The US-based private equity firm and Mitsubishi are finalising details of a transaction that could be announced as soon as Friday (Feb 7), the sources said, asking not to…
Read MoreBlackRock to list Bitcoin exchange-traded product in Europe
BLACKROCK, the world’s largest asset manager, is preparing to list an exchange-traded product (ETP) tied directly to Bitcoin in Europe, following on from the success of its US$58 billion US exchange-traded fund (ETF) tracking the cryptocurrency. The fund will likely be domiciled in Switzerland, according to sources familiar with the plans who were not authorised…
Read MoreSaudi Aramco boosts prices to Asia as Middle Eastern crude soars
SAUDI Arabia hiked the price of its flagship crude to Asia by the most in more than two years as the kingdom responds to surging premiums for Middle Eastern crude and improving refinery margins. State producer Saudi Aramco raised the price for its Arab Light oil to Asia for March by US$2.40 a barrel, according…
Read MoreSingapore shares rise as tariff concerns fade; STI up 0.4%
Across the broader market, gainers beat losers 352 to 186, after 1.3 billion securities worth S$1.1 billion change hands BUOYED by fading concerns about the economic threat posed by US President Donald Trump’s tariffs along with an overnight Wall Street rally, Singapore shares closed higher on Thursday (Feb 6). The benchmark Straits Times Index (STI)…
Read MoreUS Federal Reserve releases its Wall Street bank stress-test plans
THE US Federal Reserve released hypothetical scenarios for its annual stress tests, which seek to evaluate the resilience of big banks and ensure they can keep lending even in a severe recession. This year, 22 banks will be tested against a global recession with heightened stress in both commercial and residential real estate markets, in…
Read MoreSonos cuts 12% of workers in bid to improve product organisation
Sonos said it’s cutting about 12 per cent of its staff, or 200 workers, in a bid to make its product teams “flatter, smaller and more focused”. Santa Barbara, California-based Sonos, maker of high-end speakers and audio equipment, announced the cuts on Wednesday (Feb 5) in a companywide call, saying that employees will be informed…
Read MoreCoffee soars to record US$4 mark as supply fears power rally
ARABICA coffee topped US$4 per pound in New York for the first time, as concerns over tight global supplies fuel a dizzying rally that’s doubled prices over the past year. The move stands to accelerate the fallout for consumers as ever-pricier beans feed through into more expensive brews at retail. The run-up has already hurt…
Read MoreParkway Life Reit H2 DPU falls 1.3% to S$0.0738 on enlarged unit base
PARKWAY Life Real Estate Investment Trust (Reit)‘s distribution per unit (DPU) for the second half ended Dec 31, 2024 was S$0.0738, sliding 1.3 per cent from S$0.0748 in the corresponding year-ago period, said its manager in a bourse filing on Wednesday (Feb 5). This fall comes amid the healthcare Reit’s enlarged unit base, following the…
Read MoreCapitaLand Malaysia Trust to buy three freehold industrial properties in Johor-Singapore SEZ for RM72 million
CAPITALAND Malaysia Trust (CLMT), a subsidiary of CapitaLand Investment, on Wednesday (Feb 5) signed a conditional agreement to acquire three freehold industrial properties for a cash consideration of RM72 million (S$22 million) from Rainbow Entity, a subsidiary of Bursa Malaysia-listed Gromutual. The properties are located in Senai Airport City, an industrial and manufacturing hub in…
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