Posts by Stephanie Irvin
Oil posts weekly losses as US set to impose tariffs on Canada, Mexico
Oil prices eased on Friday (Jan 31) and closed the week lower as investors awaited 25 per cent tariffs by the US on Canada and Mexico, expected on Saturday. Brent crude futures for March, which expire on Friday, settled down 11 cents at US$76.76 a barrel. The more actively traded second month futures were down…
Read MoreVeteran bankers Eric Tham and Tan Jeh Wuan to join board of Raffles Medical’s insurance unit
VETERAN bankers Eric Tham and Tan Jeh Wuan have been designated to the board of Raffles Health Insurance as non-executive and independent directors, with effect from Feb 1, 2025. Commenting on their appointments, Raffles Medical Group executive chairman Loo Choon Yong said, “Their vast experience in the banking and financial sector will contribute positively to…
Read MoreCrazy Tax Write-offs That Actually Worked
Ever thought about what you can write off on your taxes? Some folks have taken it to a whole new level with some pretty wild claims. From feeding stray cats to buying racehorses, people have found some unusual ways to get a tax break. Here’s a look at some of the most bizarre tax deductions…
Read MoreCapitaLand Ascott Trust acquires two freehold hotels in Japan for 21 billion yen
CAPITALAND Ascott Trust (Clas) has acquired two freehold limited-service hotels in Japan – ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae – for 21 billion yen (S$178.5 million). The acquisition is part of Clas’ portfolio reconstitution strategy to enhance the quality of its portfolio and deliver stable returns to its stapled securityholders, said Serena…
Read MoreIndia central bank injects US$5.10 billion via FX swap to ease cash crunch
INDIA’S central bank injected US$5.10 billion through a foreign-exchange swap auction, using the tool for the first time in five years to ease a severe cash crunch plaguing the financial system. The infusion takes the amount poured into India’s banking system to US$7.3 billion in the past two days and is part of the Reserve…
Read MoreSembcorp to enter the Philippines renewable energy market via acquisition
The proposed deal’s total consideration is about S$105 million and is expected to be completed in H2 2025 SEMBCORP Industries announced in a bourse filing on Friday (Jan 31) that its wholly owned subsidiary has signed a share purchase agreement with CleanCurrent Renewable Energy in the Philippines for a 100 per cent stake in Puente…
Read MoreMarkets price in fewer rate cuts as Fed holds on tariff uncertainty, persistent inflation
Industry watchers expect that lack of clarity over Trump’s policies will continue to weigh on US central bank’s movements GLOBAL markets are pricing in fewer rate cuts for the year as the US Federal Reserve unsurprisingly kept rates on hold on Wednesday (Jan 29). In the first Federal Open Market Committee meeting of the year,…
Read MoreNissan, Honda to announce direction of possible integration by mid-February, Nissan says
NISSAN Motor will aim to announce the direction of its possible integration with Honda Motor by mid-February, a company spokesperson said on Friday, pushing back the plan from the end of January. The two Japanese automakers have been in talks to explore a merger by 2026, in a historic pivot for Japan’s auto industry that…
Read MoreSingapore shares rise at Friday’s open; STI up 1.1%
SINGAPORE shares started trading in positive territory on Friday (Jan 31), mirroring activities in global markets. As at 9.01 am, the Straits Times Index (STI) opened 1.1 per cent or 42.16 points higher at 3,843.23. Across the broader market, gainers outnumbered losers 99 to 33 after 54.2 million securities worth S$121.5 million changed hands. Among…
Read MoreUS Steel posts muted quarterly results amid Nippon deal snag
US STEEL reported fourth-quarter loss and revenue that matched Wall Street estimates on Thursday, dented by price declines and a bumpy demand environment. The industry has been struggling, as distributors have refrained from purchasing material in excess of their inventory amid a supply glut fueled by domestic production and imports. US Steel is attempting to…
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