Posts by Stephanie Irvin
Terraform Labs approved for bankruptcy wind-down after US SEC settlement
TERRAFORM Labs received court approval on Thursday (Sep 19) to wind down its operations in bankruptcy after agreeing to settle a US Securities and Exchange Commission (SEC) lawsuit accusing the company of defrauding cryptocurrency investors who lost an estimated US$40 billion when the TerraUSD and Luna tokens collapsed in 2022. US bankruptcy judge Brendan Shannon…
Read MoreBank of England hold rates, extends bond reduction plan
THE Bank of England held interest rates at 5 per cent on Thursday (Sep 19) and voted to run down its stock of British government bonds by another £100 billion (S$172 billion) over the coming 12 months, a move that could weigh on the government’s finances. The Monetary Policy Committee (MPC) voted 8-1 to keep…
Read MoreBritain needs finance sector strategy to tap foreign billions, report says
Britain needs to provide a “streamlined and organised system” led by a public-private council chaired by its finance minister Britain could attract up to £7.7 billion (S$13.2 billion) in additional foreign sovereign investment by 2030 if it pursues a long-term blueprint for enticing such funds, a report said. The City of London Corporation has repeated…
Read MoreOver 80% of business leaders cite sustainability skills and expertise gap: report
MORE than 80 per cent of business leaders say their organisations face a gap in sustainability-related skill sets and expertise, according to a report by NTUC LearningHub. This is despite employees perceiving knowledge and skills as necessary for workplaces to understand and implement sustainability initiatives, the Sustainability for Business Resilience Report 2024 released on Thursday…
Read MoreIndia to buy more second-hand vessels to raise container capacity
The move comes after talks with multiple ministries to cut transportation costs and increase exports India will purchase more second-hand vessels to add to the country’s container shipping capacity, two senior shipping officials said on Thursday (Sep 19) after talks with multiple ministries to cut transportation costs and increase exports. Discussions were held after Indian…
Read MoreUS Federal Reserve rate pivot expected to drive outsized gains in Asian assets
ASIAN assets could have better earnings prospects and more room to benefit from easing than their global peers, after the US Federal Reserve’s shift to interest rate cuts. The central bank’s decision to lower its benchmark by 50 basis points is less of a gloomy view about the US economy and more about providing greater…
Read MoreAlibaba accelerates AI push by releasing new open-source models, text-to-video
CHINESE technology company Alibaba released on Thursday (Sep 19) new open-source artificial intelligence models and text-to-video AI technology, intensifying its efforts to compete in the booming area of generative AI. The open-source models, numbering more than 100, come from Alibaba’s Qwen 2.5 family, its latest foundational large language model released in May. Chinese technology companies,…
Read MoreVietnam removes pre-funding rule for foreigners in bid for market upgrade
VIETNAM will remove a requirement for full pre-funding on equity transactions of foreign investors from Nov 2, its finance ministry said, the country’s latest effort to boost the chances to be reclassified as an emerging market. Currently, overseas investors must fully transfer funds before buying securities, a hurdle that has hampered for years the upgrade…
Read MoreBrookfield is adding to US$13 billion it has bet on India infrastructure
BROOKFIELD Asset Management plans to add to the US$13 billion it has already invested in Indian infrastructure, describing it as the “brightest spot” in emerging markets. “There’s no reason why we can’t keep up with that trajectory,” Arpit Agrawal, head of the Canadian investment firm’s India infrastructure business, said. Brookfield has ramped up spending in…
Read MoreMarket fundamentals moderate rate cut benefit to commodity prices; gold set to inch higher: analysts
On the oil market, rate cuts would only indirectly affect the prices as it secures the US economy’s soft landing THE commodity sector in general will be supported by the Federal Reserve’s 50 basis point cut as lower rates would reduce opportunity costs for the asset class, increase trading activities and support prices quoted in…
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