Posts by Stephanie Irvin
Rate cut a plus for some commodities, but demand and supply forces will still be key
Rate cut priced into gold prices, and won’t offset weak China economy weighing on oil market 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 US dollars. However, the…
Read MoreGermany’s slump in EV sales drags on Europe’s auto market
GERMANY, hit by bad economic news in recent weeks, led a drop in European car sales last month as demand for electric vehicles (EVs) cratered. EV deliveries in the region’s biggest car market plunged 69 per cent during August to just over 27,000 vehicles, the European Automobile Manufacturers’ Association said on Thursday (Sep 19). The…
Read MoreST Engineering opens ‘smart yard’ to support marine business, replace Tuas Yard
ST Engineering has opened a “smart” shipyard to replace its Tuas Yard when the latter’s lease expires at the end of the year. Gul Yard, at 55 Gul Road, is twice the size of Tuas Yard and employs technology to support yard operations, workplace safety and eco-friendly practices. Spanning a site area of 141,000 square…
Read MoreChina’s CDB Leasing to buy 50 Boeing max jets in second major order
CHINA Development Bank (CDB) Financial Leasing agreed to buy 50 Boeing 737 Max jets, the company’s second major order in as many weeks as it adds newer, more fuel-efficient planes to its fleet. The 737-8s are due to be delivered between 2028 and 2031, CDB said in a statement on Wednesday (Sep 18). CDB Leasing,…
Read MoreFed may have prematurely declared victory over inflation after super-sized rate cut move
If consumer prices resume rising rapidly in the coming months, the world will blame its former economic saviour, Powell THE US stock market soared not long after the Federal Reserve fulfilled the bulls’ wildest dreams and cut its benchmark rate by half a percentage point, a move that most major brokers deemed improbable just a…
Read MoreSingapore shares open almost flat on Thursday; STI up 0.02%
SINGAPORE stocks started Thursday (Sep 19) on a muted note, after US indices and Europe’s main stock index fell overnight. As at 9.01 am, the Straits Times Index (STI) rose 0.76 points or 0.02 per cent to 3,593.18. Across the broader market, gainers outnumbered losers 69 to 28, after 17.8 million securities worth S$24.3 million changed hands.…
Read MoreStocks to watch: Sabana Reit, Oiltek International
THE following companies saw new developments that may affect trading of their securities on Thursday (Sep 19): Sabana Industrial Real Estate Investment Trust (Sabana Reit): The Reit’s requisitionists have rejected the trustee’s proposal to postpone the extraordinary general meeting to vote on the proposed internal manager directors. On Wednesday, the requisitionists noted that it will not…
Read MoreBitcoin fluctuates after Fed cuts for first time in four years
BITCOIN was little changed after the US Federal Reserve reduced borrowing rates for the first time since the Covid pandemic paralysed the economy more than four years ago and helped cryptocurrencies break into the mainstream. The US central bank lowered its benchmark interest rate by a half percentage point. Projections released following their two-day meeting…
Read MoreCommerzbank is speeding up CEO succession after UniCredit move
COMMERZBANK is looking to speed up the process to replace chief executive officer Manfred Knof as it contends with a possible takeover approach by rival UniCredit. Chief financial officer Bettina Orlopp is still viewed as a strong candidate to succeed Knof, although the bank will also vet external candidates with the help of headhunter Egon…
Read MoreUS: Stocks end modestly lower after big Fed interest rate cut
WALL Street stocks finished modestly lower on Wednesday after the Federal Reserve announced an interest rate cut of half a percentage point, ending days of speculation about the size of the move. Major US stock indices moved in and out of positive territory after the Fed decision, with the Dow Jones Industrial Average finishing down 0.3 per cent at…
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