Posts by Stephanie Irvin
Thai medical tycoon wanted for alleged fraud flees to China
THAI hospital tycoon Boon Vanasin, who allegedly lured some 7.5 billion baht (S$294 million) of investments in fake medical projects, has fled to China, prompting the police to issue a warrant for his arrest. Police have received some 520 complaints since December last year involving about 247 people, Nopasin Poolsawat, deputy commissioner of the Metropolitan…
Read MoreGold near three-week high on softer US dollar, geopolitical concerns
Gold prices ticked higher on Monday (Nov 25), nearing a three-week high, supported by a weaker US dollar and safe-haven demand amid rising geopolitical tensions, as investors awaited more data to gauge the US Federal Reserve’s policy outlook. Spot gold rose 0.2 per cent to US$2,719.19 per ounce as at 0014 GMT and was set…
Read MoreSTI falls despite Asia gains and RHB upgrading Singapore banking stocks
SINGAPORE stocks closed lower on Monday (Nov 25), even as most regional markets closed in positive territory. The benchmark Straits Times Index (STI) shed some earlier gains, slipping 0.4 per cent or 14.63 points to 3,731.39 at the close. Across the broader market, gainers outnumbered losers 280 to 271, after 1.6 billion securities worth S$2.9…
Read MoreReturning capital is often not the only reason companies buy back their shares in the market
Some firms conduct share buybacks purely to support the vesting of awards under their share-based remuneration schemes This column received some negative feedback last week, following its take on DBS chief executive Piyush Gupta unloading shares right after the bank reported strong Q3 2024 earnings and unveiled a S$3 billion share buyback programme. While some…
Read MoreUsed cooking oil the new black gold as it rides biofuel demand, limited supply
Europe is the largest consumer of the feedstock globally, but regulatory uncertainty in US, Europe still a hurdle GLOBAL demand for used cooking oil (UCO), a feedstock for biofuels such as sustainable aviation fuel (SAF), is expected to continue to rise, despite regulatory uncertainty in major importing regions such as the United States and Europe.…
Read MoreFed survey finds inflation fading as a risk next to debt, trade wars
PRESIDENT-elect Donald Trump may have campaigned hard against high inflation, but by the time of his Nov 5 election victory financial professionals had moved on from rising prices and begun worrying about rising US debt, possible recession, and risks to global trade as among the top threats to the stability of the financial sector, according…
Read MoreDollar climbs, euro weakens to two-year low after PMI data
THE euro slumped to a two-year low while the dollar gained on Friday (Nov 22) after gauges of business activity were released in each region, while bitcoin again hit a record high as it continued its march toward the US$100,000 mark. Hamburg Commercial Bank’s preliminary composite eurozone Purchasing Managers’ Index, compiled by S&P Global, sank…
Read MoreUS: Wall Street closes higher after business activity data
WALL Street closed higher on Friday (Nov 22), with all three major indexes posting weekly gains, as investors took comfort from data pointing to robust economic activity in the world’s biggest economy. A measure of business activity raced to a 31-month high in November, boosted by hopes for lower interest rates and more business-friendly policies…
Read MoreCDL and joint ventures post S$611.1 million in Q3 sales, driven by Kassia launch
CITY Developments Limited (CDL) and its joint venture associates recorded S$611.1 million in sales for the third quarter ended Sep 30, 2024, from 321 units sold, up from S$325 million and 183 units in the same period last year. Sales were primarily bolstered by the launch of Kassia, a 276-unit freehold development located off Upper…
Read MoreNear-term volatility drives SGX to 17-year peak on higher turnover
SGX is benefiting from the 15.7% advance in the Singapore stock market so far this year SHARES of Singapore Exchange (SGX) charged to their highest since December 2007, driven by near-term volatility as turnover and trading volumes advance. As at 12 pm on Friday (Nov 22), the bourse operator gained as much as 1.9 per…
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