Posts by Stephanie Irvin
Seatrium loses appeal to block US$126.6 million rig contract payment
The group will continue with arbitration to resolve dispute and seek recovery of payment [SINGAPORE] Seatrium on Friday (Sep 12) said its appeal in the Singapore court to block a US$126.6 million standby letter of credit payment related to a rig contract with a customer has been dismissed. The offshore and marine energy solutions company…
Read MoreECB policymakers keep rate options open amid uncertain outlook
Another cut is entirely possible, says French central bank governor Francois Villeroy [FRANKFURT] European Central Bank (ECB) policymakers were keeping their options open on Friday (Sep 12) about possible future interest rate cuts, flagging an uncertain outlook for trade, energy prices and foreign exchange rates. The European Central Bank left interest rates unchanged on Thursday…
Read MoreIn surprise twist, Armani’s will instructs heirs to gradually sell fashion brand or seek listing
The late designer has left instructions for a 15% stake to be sold within 18 months [MILAN] Late designer Giorgio Armani in his will instructed heirs to gradually sell the fashion brand he created 50 years ago or seek a stock market listing, marking a surprising turn for a company highly protective of its independence…
Read MoreJapan’s Nikkei ends at record high as chip-related shares gain on Wall Street boost
[TOKYO] Japan’s Nikkei share average ended at a closing high for a second straight session on Friday (Sep 12), as chip-related stocks tracked Wall Street’s strong finish overnight. The Nikkei rose 0.89 per cent to 44,768.12, after gaining as much as 1.16 per cent to a record intraday high of 44,888.02 earlier in the session.…
Read MoreSGX to launch index that tracks non-STI listcos: Chee Hong Tat
The STI comprises the 30 largest companies by market capitalisation, but represents only a portion of SGX’s listed companies [SINGAPORE] The Singapore Exchange (SGX) will be launching an index that tracks listed companies that are not constituents of the Straits Times Index (STI), as part of the regulator’s efforts to showcase its broader equity market,…
Read MoreMeituan launches AI agent to boost food delivery business
[HONG KONG] Meituan has launched a new artificial intelligence (AI) agent app that aims to boost its food delivery and local services business, as its battle with Alibaba Group Holding for Chinese consumers heats up. The Xiaomei agent, powered by Meituan’s own LongCat-model, allows users to order meals via voice command and help them book…
Read MoreStocks to watch: CapitaLand Investment, CapitaLand China Trust, Frasers Hospitality Trust, TalkMed, Low Keng Huat, IReit Global
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Sep 12): CapitaLand Investment (CLI) ; CapitaLand China Trust (CLCT) : CapitaLand Commercial C-Reit’s (CLCR) public offer was 535.2 times subscribed, said CLI on Friday. CLCR also achieved a subscription coverage of 254.5 times from institutional investors during the…
Read MoreApple analyst sentiment hits five-year low after two downgrades
[NEW YORK] Apple was hit with a pair of downgrades on Thursday (Sep 11), in the latest sign of caution towards the iPhone maker, which has sharply underperformed its large-cap tech peers this year. With the downgrades, Apple’s recommendation consensus – a proxy for the ratio of buy, hold, and sell ratings – has dropped…
Read MoreECB holds rates unchanged, offers no clues about next move
The ECB halved its key rate to 2% in the year to June but has been on hold ever since [FRANKFURT] The European Central Bank left interest rates unchanged on Thursday (Sep 11) as expected but offered no clues about its next move, even as investors continue to bet that more support will be needed…
Read MoreChinese carmakers may keep price advantage despite Mexico levies
[MEXICO CITY] Mexico’s plan to levy tariffs of up to 50 per cent on vehicles from China may not unduly impact the Asian nation’s auto manufacturers whose inherently lower production costs mean their cars are still competitive. BYD, the world’s biggest maker of electric cars based in Shenzhen, sells its Dolphin Mini, a small hatchback…
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