Posts by Stephanie Irvin
IReit Global inks lease contract with Premier Inn to reposition Berlin Campus into mixed-use space
EUROPE-FOCUSED real estate investment trust (Reit) IReit Global has signed a lease contract with UK hotel chain Premier Inn for 10,348 square metres or 12 per cent of net lettable space in its Berlin Campus asset. The Reit’s manager said on Thursday (Nov 28) that the lease agreement is for a long lease period of…
Read MoreUS Fed’s favoured inflation gauge picks up, backs cautious approach
THE US Federal Reserve’s preferred measure of underlying inflation accelerated in October from a year ago, helping explain policymakers’ more cautious approach to lowering interest rates. The so-called core personal consumption expenditures (PCE) price index, which strips out volatile food and energy items, increased 2.8 per cent from October last year and 0.3 per cent…
Read MoreHong Kong opens third airport runway with marginal gain in landing slots
HONG Kong’s third airport runway officially starts operating on Thursday (Nov 28), but there will be hardly any additional flight capacity for at least another year. Aircraft movement will grow only up to 4 per cent next summer season – March to October 2025 – according to documents published by the city’s Civil Aviation Department.…
Read MoreGenting Singapore’s luck may turn in 2025
The renewal of its casino licence for a shorter two-year term adds to the uncertainties at the integrated resort operator, but a turnaround could come RESORTS World Sentosa (RWS) broke ground on Nov 15 for a major new waterfront development that will include hotels, more retail and dining offerings and even an “immersive, experiential mountain…
Read MorePEC says it has been approached by a third party over a possible share deal
SHARES of engineering company PEC have been on a tear lately and a possible reason for that has emerged. The company said in a bourse filing on Wednesday (Nov 27) that it had been approached by a third party “on a possible transaction” in relation to its shares. However, it noted: “No decision has…
Read MoreSingapore banks, insurers in ‘good position’ to withstand severe macrofinancial shock: MAS
Most investment funds also have enough liquidity to meet redemption shocks, its liquidity stress-simulation tests have found SINGAPORE’S banks and insurers have sufficient capital and liquidity buffers to withstand potential downside risks arising from severe macrofinancial stresses, said the Monetary Authority of Singapore (MAS) in a report on Wednesday (Nov 27). In its annual Financial…
Read MoreDemand rises on latest Singapore Savings Bond, with 10-year average return of 2.81%
The December tranche receives S$164.8 million in applications, for the S$600 million on offer THE latest Singapore Savings Bond (SSB), allotted on Wednesday (Nov 27), recorded a rise in the number of applications as yields rose from those of the previous tranche. The December tranche of the Singapore government-backed bonds received a total of S$164.8…
Read MoreMost Singapore companies able to service debt despite higher interest expense: MAS
DESPITE higher interest expenses, most companies in Singapore have been able to generate enough earnings to service their debt, said a report by the Monetary Authority of Singapore (MAS) on Wednesday (Nov 27). The majority of listed companies are also resilient to interest rate and earnings shocks amid macroeconomic and financial uncertainties, although external-oriented and…
Read MoreApple misses out on big 2024 smartphone market rebound: study
GLOBAL smartphone sales rebounded strongly in 2024 after two successive years of decline, but Apple barely managed growth, an independent study showed, underscoring the speed with which Android-based rivals are gaining ground in China and emerging markets. Apple and its rivals will ship 6.2 per cent more phones or an estimated 1.24 billion units in…
Read MorePhilip Ng raises stake in Vitasoy, prompting speculation of takeover
CEO Roberto Guidetti says it’s ‘open’ to potential business collaboration as company’s shares jumped the most on record VITASOY International Holdings is “open” to potential business collaboration opportunities, chief executive officer Roberto Guidetti said, as the beverage maker’s shares jumped the most on record after a Singapore tycoon raised his stake in the firm. “We…
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