Posts by Stephanie Irvin
Fed chair Powell to headline next week’s Jackson Hole meet
FEDERAL Reserve chair Jerome Powell is scheduled to deliver remarks on the economic outlook next Friday (Aug 23), the first full day of the Kansas City Fed’s annual economic symposium in Jackson Hole, Wyoming. The annual gathering of global central bankers offers Powell a chance to give an updated assessment of the US economic trajectory…
Read MoreOil rises nearly 2% on upbeat US economic data, geopolitical tension
OIL prices gained more than US$1 a barrel on Thursday (Aug 15) after United States economic data allayed fears of recession in the world’s biggest economy, although the rally was limited by concerns of slower global demand. Brent crude futures settled up US$1.28, or 1.6 per cent, at US$81.04 a barrel. US West Texas Intermediate…
Read MoreAlibaba’s revenue misses estimates in a blow to revival effort
ALIBABA Group Holding posted a disappointing 4 per cent rise in revenue, after aggressive promotions and new shopping features failed to drive spending in a patchy Chinese consumer environment. The domestic e-commerce leader reported revenue of 243.2 billion yuan (S$44.8 billion) in the June quarter, versus the average projection for about 249.9 billion yuan. Net…
Read MoreDavid Yong from Netflix’s ‘Super Rich in Korea’ handed fourth fraud charge, granted S$1 million bail
DAVID Yong, chief executive of Evergreen Group Holdings, was on Thursday (Aug 15) slapped with a new charge under Section 477A of the Penal Code, related to falsification of papers that inflated the profit of an entity under the group. Yong, also known as Yong Khung Lin, is alleged to have abetted an individual called…
Read More💕 When love meets money
💬 We need to talk Money can’t buy love but it can break relationships. Okay, it’s a bit of a pessimistic start to this week’s issue but there’s some truth to the adage. About half of the couples who see therapist Glenn Woo face differences in their views on money. While it may not always…
Read MoreSri Trang Gloves Q2 profit surges more than 20 times to 378.4 million baht
GLOVE manufacturer Sri Trang Gloves (Thailand) reported earnings of 378.4 million baht (S$14.2 million) for the three months ended Jun 30, a jump of more than 20 times from the 15.2 million baht booked in the previous corresponding period. On a per-share basis, earnings per share rose to 0.13 baht, from 0.01 baht a year…
Read MoreRBNZ aims to lower cash rate at measured pace, governor says
NEW Zealand’s central bank intends to reduce interest rates towards a more neutral setting at a measured pace, now that it has begun its easing cycle, Reserve Bank of New Zealand (RBNZ) governor Adrian Orr said. The RBNZ cut the Official Cash Rate by a quarter-percentage point to 5.25 per cent yesterday and forecast it…
Read MoreSingapore, Sichuan companies ink five MOUs as bilateral trade grows
FIRMS from Singapore and China’s western province of Sichuan have signed five agreements across a range of sectors to boost bilateral trade. The memorandums of understanding (MOUs) signed at the 24th Singapore-Sichuan Trade and Investment Committee meeting on Aug 14 included businesses in utilities, healthcare and commodities trading, as well as those focusing on exchange…
Read MoreCisco gives upbeat sales forecast even as it cuts jobs
CISCO Systems, the biggest maker of computer networking equipment, gave a bullish revenue forecast for the current period thanks to a rebound in orders, but also announced plans to cut jobs as part of a strategy shift. Sales will be US$13.7 billion to US$13.9 billion in the fiscal first quarter, which ends in October, the…
Read MoreLow-carbon hydrogen: Timely for Singapore to deepen research
SINGAPORE is deepening research on low-carbon hydrogen as an energy source – a timely move even with mixed sentiment around the fuel. On Aug 6, the Energy Market Authority called for a study on developing laws and policies related to hydrogen fuel, The Straits Times reported. The study could touch on aspects such as hydrogen…
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