Posts by Stephanie Irvin
US curbs on Chinese EV software tech risk spreading much further
A US plan that would further limit Chinese electric vehicles (EVs) with software and hardware curbs may have ramifications beyond the car industry and could result in retaliation against US businesses in China, some analysts said. US officials are set to unveil a proposal to ban the use and testing of Chinese and Russian technology…
Read MoreChina Resources Beverage aims to launch up to US$1 billion Hong Kong IPO in October: sources
DRINKS maker China Resources Beverage is aiming to launch its Hong Kong initial public offering to raise up to US$1 billion in October, according to two sources with direct knowledge of the matter, in a deal that could be the largest new share offering in the city this year. The sources could not be named…
Read MoreIndonesia leader inaugurates miner Amman Mineral’s 21 trillion rupiah copper smelter
INDONESIAN President Joko “Jokowi” Widodo inaugurated Amman Mineral Internasional’s 21 trillion rupiah (S$1.8 billion) copper smelter in the West Nusa Tenggara province on Monday (Sep 23) saying he wanted global customers to turn to Indonesia for copper products. The smelter has an input capacity of 900,000 tonnes of copper concentrate per year. It is expected…
Read MoreCommerzbank warns UniCredit merger is threat to German businesses: FT
COMMERZBANK’S management has warned the German government that a potential multibillion euro merger with Italy’s second-largest bank UniCredit is a threat to businesses that make up the backbone of Europe’s biggest economy, the Financial Times (FT) reported on Monday (Sep 23). Earlier this month, UniCredit took a 9 per cent stake in Commerzbank, catching German…
Read MoreCommerzbank warns UniCredit merger is threat to German businesses, FT reports
COMMERZBANK’S management has warned the German government that a potential multibillion euro merger with Italy’s second-largest bank UniCredit is a threat to businesses that make up the backbone of Europe’s biggest economy, the Financial Times reported on Monday. Earlier this month, UniCredit took a 9 per cent stake in Commerzbank, catching German authorities off guard.…
Read MoreMorgan Stanley’s SK Hynix sell order reviewed by South Korea watchdog
SOUTH Korea’s financial watchdog is looking into Morgan Stanley’s order to sell SK Hynix shares before research analysts at the bank cut their recommendation on the stock, another sign of the country’s increased scrutiny of global banks and hedge funds. The Financial Supervisory Service (FSS) has asked Morgan Stanley Seoul to submit documents for an…
Read MoreOil edges up following US rate cut move, geopolitical concerns
OIL prices gained slightly during early trade on Monday, boosted by concerns conflict in the Middle East may impact supply in the key producing region and expectations the US interest rate cut last week will support demand. Brent crude futures for November were up 20 cents, or 0.3 per cent at US$74.69 a barrel at 0045…
Read MoreSingapore Exchange targets Dubai expansion to follow hedge funds
SINGAPORE Exchange is eyeing expansion into Dubai, drawn by the surge of hedge funds that have settled in the United Arab Emirates. An influx of the firm’s clients settling in the emirate is strengthening the case for opening a new office, complementing its operations in nine other countries, Lee Beng Hong, head of wholesale markets…
Read MoreSGX appoints Daniel Koh as new CFO
He succeeds current CFO Ng Yao Loong, who is taking on the position of head of equities THE Singapore Exchange (SGX) named Daniel Koh as its new chief financial officer (CFO). He will begin his role as CFO-designate from Oct 1, before transiting into his role as CFO from Dec 1. Koh was previously with…
Read MoreApollo to offer multibillion-dollar investment in Intel
APOLLO Global Management has offered to make a multibillion-dollar investment in Intel, according to sources familiar with the matter, in a move that would be a vote of confidence in the chipmaker’s turnaround strategy. The alternative asset manager has indicated in recent days it would be willing to make an equity-like investment of as much…
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