Posts by Stephanie Irvin
Europe: Chip stocks slip, keeping shares muted ahead of data-heavy week
EUROPEAN shares were broadly flat in quiet trading on Monday, with semiconductor stocks leading the technology sector lower as investors looked ahead to several key economic data releases this week for more clues on the path of monetary policy. Stocks of European semiconductor stocks slipped as focus turned to second-quarter results from US-listed artificial-intelligence leader Nvidia, due…
Read MoreValue creation in banking ecosystems goes beyond transactional partnerships: DBS’ P’ing Lim
She says she found her purpose in being able to avail financial services to everyone CREATING value for every player is crucial in building a successful ecosystem, said P’ing Lim, head of ecosystem and cross-border transfers for DBS’ regional consumer banking business. Lim – whose role involves seamlessly integrating banking services into customers’ lives –…
Read MoreReits climb post-Jackson Hole speech; STI gains 0.2%
SINGAPORE stocks ended higher on Monday (Aug 26), after Federal Reserve chair Jerome Powell’s Jackson Hole comments indicated that the US central bank is ready to cut rates in September. The benchmark Straits Times Index (STI) rose 0.2 per cent or 8.04 points to 3,396.03. Across the broader market, gainers beat losers 350 to 230,…
Read MoreIndia markets regulator issues notice to Paytm founder, Moneycontrol reports
INDIA’S markets regulator has issued show-cause notices to Paytm founder Vijay Shekhar Sharma and other board members who held roles during the firm’s November 2021 IPO over alleged misrepresentation of facts, Moneycontrol reported on Monday (Aug 26). The notice addressed Sharma’s non-compliance with shareholder classification norms said the report, which cited two people aware of…
Read MoreNorway sovereign wealth fund commits 900 million euros to renewable energy fund
NBIM committed the sum to CIP’s fifth flagship fund CI V, which invests in offshore and onshore wind, solar farms, grid and distribution Norway’s sovereign wealth fund said on Monday (Aug 26) it will commit 900 million euros (S$1.3 billion) to the latest renewable energy fund of investment firm Copenhagen Infrastructure Partners (CIP). Norges Bank…
Read MoreChina’s Didi in talks to sell smart auto assets to state-backed NavInfo’s unit: sources
CHINA’S Didi Global is in advanced talks to sell its smart driving and cockpit assets to state-backed digital mapping firm NavInfo’s unit, as the ride-hailer focuses on its core business after a bruising regulatory crackdown, two sources said. Didi plans to sell the assets to AutoAi, a provider of intelligent cockpits-related software and hardware, in…
Read MoreBitcoin flirts with US$65,000 on Powell pivot, streak of ETF flows
It rose 1.2% to US$65,030 on Monday (Aug 26) before dipping back to US$64,000 as of 1.35 pm in Singapore Bitcoin touched US$65,000 for the first time in about three weeks, aided by reviving demand for dedicated US exchange-traded funds amid signs that the Federal Reserve is set to loosen monetary policy. The largest digital…
Read MoreUS industry seeks easing of steep Biden-Harris China tariff hikes
THE Biden-Harris administration this week is expected to announce final implementation plans for steep tariff increases on certain Chinese imports, and if US industry gets its way, many of the planned duties would be softened. Manufacturers from electric vehicles (EVs) to electric utility equipment have asked for the higher tariff rates to be reduced, delayed…
Read MorePBOC holds policy rate steady after warning on bond rally
CHINA’S central bank left a key interest rate unchanged, keeping a lid on a bond frenzy as it stays patient in supporting the economy. The People’s Bank of China (PBOC) kept the rate on its one-year policy loans, or the medium-term lending facility (MLF), at 2.3 per cent, after a slashing the rate by 20…
Read MoreFederal Reserve’s dovish shift a mixed blessing for Bank of Japan rate hike plan
THE US Federal Reserve’s dovish shift will likely give the Bank of Japan some respite in its battle to tame a weak yen, but could complicate its efforts to raise interest rates if the two central banks’ diverging policy paths keep markets jittery. At an annual symposium in Jackson Hole, Wyoming, Fed Chair Jerome Powell…
Read More