Posts by Stephanie Irvin
UOL-SingLand JV to acquire 50% stake in Sydney commercial building for A$460 million
PROPERTY developers UOL Group and Singapore Land Group (SingLand) are acquiring a 50 per cent interest in a freehold Grade A commercial building in Sydney’s central business district for A$460 million (S$404.7 million). This will be done through an 80/20 joint-venture between UOL and SingLand. The remaining interest for the property at 388 George Street…
Read MoreCitic Securities is the first firm to tap China’s 500 billion yuan swap facility, media reports
CHINA’S Citic Securities has been given the nod to obtain 10 billion yuan (S$1.8 billion) in liquid assets from a new swap facility set up to aid the stock market, becoming the first firm do so, financial media outlet 21jingji.com said on Friday. Other major securities firms including China International Capital Corp (CICC) have also…
Read MoreNoontalk Media takes steps to ensure working capital until mid-2025
NOONTALK Media said on Friday (Oct 11) that it would have sufficient working capital and financial resources to meet its liabilities up to mid-2025, through various measures aimed at boosting its finances. The entertainment company had total liabilities of S$2.8 million as at end-June 2024, up from S$2.4 million in the previous corresponding period. The…
Read MoreNoontalk Media to ensure working capital until mid-2025
NOONTALK Media said on Friday (Oct 11) it would have sufficient working capital and financial resources to meet its liabilities up to mid-2025, through various measures aimed at increasing finances. The entertainment company had total liabilities of S$2.8 million as at end-June 2024, compared with S$2.4 million in the previous corresponding period. The measures…
Read MoreGold drifts higher after data supports US rate-cut bets
GOLD prices edged higher on Friday (Oct 11) after recent data supported bets for a US Federal Reserve interest rate cut next month, while market participants focussed on the US Producer Price Index (PPI) report for further direction. Spot gold rose 0.3 per cent to US$2,636.13 per ounce by 0153 GMT but was down about…
Read MoreTesla’s Musk to unveil robotaxis amid fanfare and scepticism
TESLA is set to unveil its long-promised robotaxi in Hollywood late on Thursday (Oct 10) and update investors on artificial intelligence (AI) projects, efforts CEO Elon Musk has bet will drive the electric vehicle (EV) maker’s long-term growth. Enthusiasm around the event has been on display across social media, with screenshots of invites and speculation…
Read MoreStocks to watch: Top Glove, FLCT
THE following companies saw new developments that may affect trading of their securities on Friday (Oct 11): Top Glove: The glove manufacturer on Thursday reported significantly narrower fourth quarter net loss of RM3.6 million (S$1.1 million), as opposed to its RM461.7 million net loss a year prior. This was attributed to higher sales volume as…
Read MoreOil prices jump 4% on US storm and Israel-Iran fears
OIL prices jumped about 4 per cent on Thursday (Oct 10) on a spike in US fuel use before Hurricane Milton barrelled across Florida, Middle East supply risks and signs that demand for energy could grow in the US and China. Brent futures rose US$2.82, or 3.7 per cent, to settle at US$79.40 a barrel,…
Read MoreEurope: Stocks end lower after US inflation data; French budget in focus
EUROPEAN shares closed lower on Thursday (Oct 10), with defence and industrial stocks leading losses, after data showed US inflation ticked higher, while investors waited for France to unveil its 2025 budget. The pan-European Stoxx 600 index fell 0.2 per cent, with defence, industrials and technology each losing over 1 per cent. Yields on the…
Read MoreProfit margins from autonomous driving will take years to grow: Uber CEO
UBER Technologies has been prioritising safety over profits, as the company develops its autonomous driving fleet. “The most important factor is, ‘Can we make this technology safe? Can we build trust for riders, for example, in markets where we offer autonomous, half of our riders say, no thank you?’” said chief executive officer Dara Khosrowshahi.…
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