Posts by Stephanie Irvin
Reserve Bank of Australia bucks global easing cycle with experiment on steady rates
AUSTRALIA’S central bank is conducting a bold monetary experiment – by doing nothing. Where most developed-world peers are now well into their easing cycles, the Reserve Bank of Australia (RBA) has left interest rates at a 13-year high of 4.35 per cent since late 2023 and most economists expect that to remain the case until…
Read MoreLilly to boost obesity drug supply with US$3 billion expansion
ELI Lilly is spending another US$3 billion to build out its US manufacturing footprint as it ramps up production of its blockbuster diabetes and weight-loss drugs. The latest investment – the biggest outside the company’s home state of Indiana, will expand a newly acquired production plant in Wisconsin, with construction expected to begin next year,…
Read MoreLululemon raises annual forecasts betting on robust holiday sales
LULULEMON Athletica increased its full-year forecasts on Thursday (Dec 5), betting on resilient demand for its athletic wear in the US during the holiday shopping season and continued strength in its international business. The company’s shares rose about 8 per cent in extended trading, with Lululemon approving an increase of US$1 billion to its stock…
Read MoreUS: Wall Street opens muted with jobs data in focus
WALL Street’s main indexes opened subdued on Thursday (Dec 5) following record high closes for all three main indexes in the previous session, as investors awaited upcoming employment data later this week. The Dow Jones Industrial Average rose 24.4 points, or 0.05 per cent, at the open to 45038.44. The S&P 500 rose 2.5…
Read MoreST Telemedia sells majority stake in Malaysian telecom firm U Mobile
Singapore Technologies Telemedia said on Wednesday (Dec 4) Malaysia’s Mawar Setia will acquire a majority stake in the company’s U Mobile unit, a mobile and broadband service provider in Malaysia. Under a conditional share purchase deal, Mawar Setia will acquire the stake in U Mobile from Straits Mobile Investments, a unit of ST Telemedia, the…
Read MoreCredit Card Timeline: Application to Approval
If you’ve ever applied for a credit card, you might have wondered how long it takes to get approved. The approval process can vary widely, and understanding what happens behind the scenes can help you manage your expectations. In this article, we will explore the steps involved in the credit card approval process, factors that…
Read MoreSembcorp unit signs 10-year LNG supply deal with Chevron
The delivery of about 0.6 million tonnes of liquefied natural gas a year is expected to start in 2028 A SEMBCORP Industries wholly-owned subsidiary, Sembcorp Fuels, has signed a 10-year sale-and-purchase agreement with oil major Chevron Corp for about 0.6 million tonnes of liquefied natural gas (LNG) each year. Delivery is expected to commence in…
Read MorePraemia REIM is said to consider Singapore healthcare Reit IPO
FRANCE’S Praemia REIM is considering listing a healthcare real estate investment trust (Reit) in Singapore, according to people familiar with the matter, adding to a slew of potential deals that could revive the city-state’s anemic market for initial public offerings (IPOs). The hospital assets included in the Reit may be worth US$2 billion to US$3…
Read MoreHot stock: OKH Global surges 38.9% after proposed acquisition of Chip Eng Seng Construction
The company says the deal could help to revitalise the business and provide a strong financial footing for it to pursue future growth opportunities SHARES of OKH Global surged on Thursday (Dec 5) after the group announced that it plans to acquire Chip Eng Seng Construction for about S$118.5 million. The counter rose 38.9 per…
Read MoreFortunes of Apac billionaires outstripped global wealth growth last decade: report
ASIA-Pacific’s (Apac) ultra wealthy had the fastest growing fortunes among billionaires across the globe over the last decade, a UBS report found on Thursday (Dec 5). The wealth of Apac’s billionaires soared 141 per cent over the last 10 years, according to the 10th UBS Billionaire Ambitions Report. This outpaced the global wealth growth rate…
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