Posts by Stephanie Irvin
AI model is better at pricing currencies than humans: ING
ING Groep is starting to use artificial intelligence to price currencies, replacing a job traditionally performed manually by the bank’s traders. The Dutch lender’s new AI model employs “reinforcement learning” – a technique that mimics the trial-and-error process humans use – to make pricing decisions to keep up with market volatility, said Simon Bevan, its…
Read MoreChina cuts another key interest rate to boost economy
CHINA’S central bank lowered the cost of its medium-term loans to banks on Wednesday in a move consistent with broad policy easing measures announced a day earlier to shore up a flailing economy. The People’s Bank of China (PBOC) said it cut the rate on 300 billion yuan (S$54.7 billion) worth of one-year medium-term lending…
Read MoreChina’s shadowy crypto brokers lure US$75 billion as economy toils
CHINA’S over-the-counter (OTC) cryptocurrency brokers are attracting unprecedented inflows, a study shows, reflecting a hunger for alternative investments amid weak equity and property markets in a struggling economy. The inflows topped US$20 billion in each of the three quarters to June – a record streak in data going back to 2021 – for a cumulative…
Read MoreStocks to watch: Silverlake Axis
THE following company saw new developments that may affect trading of its securities on Wednesday (Sep 25): Silverlake Axis: E2I’s voluntary unconditional offer to take the enterprise technology company private at S$0.36 per share in cash is final and there is no intention to raise the price, said the offeror. The offer will be open…
Read MoreMicrosoft to spend US$1.3 billion in Mexico on cloud, AI tech
TECH giant Microsoft will invest US$1.3 billion over the next three years to build up its infrastructure in Mexico for cloud computing and artificial intelligence (AI), the company announced on Tuesday (Sep 24). “We are doubling down on bringing more capacity to Mexico,” chairman and CEO Satya Nadella said. The investment will go towards improving…
Read MoreEU-China EV talks to continue even if bloc approves tariffs
THE European Union and China will continue negotiations to find an alternative solution to tariffs even if member states vote in the coming days to impose levies on electric vehicles (EVs), according to sources familiar with the matter. A provision to allow talks to keep going will be added to draft legislation that member states…
Read MoreUS: Stocks end at records despite tepid consumer data
THE Dow and S&P 500 edged to fresh records on Tuesday as investors shrugged off lackluster consumer data while welcoming aggressive stimulus measures announced by China. The Conference Board’s consumer confidence index fell sharply to 98.7 in September from a revised 105.6 last month, with the drop attributed to concerns about the labour market. But…
Read MorePowering the future with green bonds
AS THE world confronts the urgent challenge of climate change, the financial sector has become a key player in steering the global shift towards a low-carbon economy. Green bonds and other sustainable finance tools have quickly moved into the spotlight, evolving from niche products to essential parts of both ethical investments and long-term financial strategies.…
Read MoreUS: Wall St opens higher, China stimulus boosts miners
Wall Street’s main indexes opened slightly higher on Tuesday (Sep 24), as investors scoured for clues on what the Federal Reserve’s next policy move might be, while commodity stocks got a boost after China unveiled a bumper stimulus package. The Dow Jones Industrial Average rose 110.3 points, or 0.26 per cent, at the open to…
Read MoreBoeing expects disruption 2 to 3 weeks beyond end of strike, says Ryanair
Ryanair had been assured by Boeing that the timing of the delivery of 30 737 MAX jets due by next June would not be affected if the strike ended within three to four weeks Boeing has told major customer Ryanair that production is likely to be disrupted for two to three weeks after the end…
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