Posts by Stephanie Irvin
US industrial production data jumps sharply in August
US industrial production surged in August as motor vehicle manufacturing bounced back after plummeting in July, the Federal Reserve said Tuesday (Sep 17), shortly before kicking off a two-day meeting on interest rates. Total industrial output exceeded expectations to rise by 0.8 per cent last month from a revised 0.9 decline in July, the US…
Read MoreGlobal defensive sector funds see surge in inflows on slowdown fears
GLOBAL defensive sector funds are in demand from investors as concerns about a slowdown in the US economy forces them to seek assets such as consumer staples and utilities stocks that can withstand weakness in labour markets and commodities. According to LSEG Lipper data, defensive sector funds such as consumer staples and utilities attracted substantial…
Read MoreChinese court rules two Sinochem refineries in Shandong bankrupt
A CHINESE court has ruled that two refineries owned by state oil and chemical group Sinochem were bankrupt after creditors failed to agree on restructuring plans, according to court documents. Shandong Huaxing Petrochemical Group and Zhenghe Group were declared bankrupt and reorganisation procedures of the two plants were ended, according to two separate rulings by…
Read MoreOpec+ faces a new problem: a Texas gas pipeline
NOW is the moment when common sense says the US shale industry should be slowing. With oil prices plunging 25 per cent over the last year, you’d expect companies would surely react by cutting drilling. Yet American oil output growth is about to reaccelerate.
Read MoreSGX CEO Loh Boon Chye’s pay up 2.7% to S$7.77 million
SINGAPORE Exchange (SGX) chief executive Loh Boon Chye earned total gross remuneration of S$7.77 million in financial year (FY) 2024, up 2.7 per cent from the previous year and more than 80 per cent higher than five years ago. Loh received more than double what he was paid in FY2016, his first year in service,…
Read MoreSGX CEO Loh Boon Chye paid S$7.57 million in FY2024
SINGAPORE Exchange (SGX) chief executive Loh Boon Chye’s total gross remuneration in financial year (FY) 2024 was S$7.57 million, almost unchanged from the previous year but more than 76 per cent higher than five years ago. (* see amendment note below) He received more than double what he was paid in FY2016, his first year…
Read MoreSingapore-listed Malaysian glove makers get a boost as US raises tariffs on China gloves
MARKET watchers are optimistic on the prospects of Malaysia’s glove making sector as the US looks to impose higher tariffs on Chinese gloves. This follows the United States Trade Representative’s decision on Friday (Sep 13) to raise tariffs for China-made medical and surgical gloves to 50 per cent by 2025 and 100 per cent by…
Read MoreRedas president calls for more financial support to green developments
THE Real Estate Developers’ Association of Singapore (Redas) is urging regulators and financial institutions to provide developers with more support in greening Singapore’s urban landscape. This could be in the form of tax reliefs, grants, incentives and consumer buy-in, said Redas president Tan Swee Yiow at the association’s Mid-Autumn Festival lunch on Tuesday (Sep 17). …
Read MoreSingapore shares open higher on Tuesday; STI up 0.2%
SINGAPORE stocks began Tuesday (Sep 17) trading in positive territory, although global equities fell overnight. As at 9.01 am, the Straits Times Index (STI) advanced 5.95 points or 0.2 per cent to 3,576.38. Across the broader market, gainers outnumbered losers 40 to 29, after 24.1 million securities worth S$29.4 million changed hands. CapitaLand Integrated Commercial…
Read MoreEuropean electric car sales to rebound in 2025: study
THE market share for electric cars should rebound strongly in 2025 as limits on emissions get stricter and manufacturers propose cheaper models, a study released on Tuesday said. Electric vehicles will represent as much as 24 per cent of new cars sold in Europe next year, according to a report by think tank Transport &…
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