Posts by Stephanie Irvin
ECB is working to ease significant risk transfers for banks
THE European Central Bank (ECB) is planning to make it easier for banks to use a popular type of credit insurance in a move that could ultimately allow them to make more loans. The watchdog and the European Banking Authority (EBA) are working on a proposal to simplify reporting requirements for lenders seeking approval for…
Read MoreADNOC weighs possible bid for Australian gas company Santos
Abu Dhabi National Oil Company (ADNOC) is in the preliminary stages of exploring a possible bid for Australian gas supplier Santos, two people with knowledge of the plans said, speaking on condition of anonymity. Santos, which supplies natural gas and LNG, had been in merger talks with Woodside Energy to create a US$52 billion global…
Read MoreUS: S&P 500, Nasdaq extend gains, closing at records again
THE S&P 500 and Nasdaq again finished at fresh records on Wednesday, extending a positive run following mixed economic data in a quiet holiday-shortened session. US private-sector hiring came in a bit below expectations for June, while a report from the Institute for Supply Management showed a surprise contraction in services industry activity. Markets are…
Read MoreWegovy, Ozempic linked with sight-threatening eye disorder in study
PATIENTS using Novo Nordisk’s wildly popular weigh-loss drug Wegovy and its similar medicines for type two diabetes may be at increased risk for a sight-threatening eye condition, according to data from a study published on Wednesday (Jul 3). Wegovy and Novo’s diabetes drugs Ozempic and Rybelsus all contain the same active ingredient, semaglutide, and belong…
Read MoreUS: Stocks tread water ahead of data, Fed minutes
WALL Street’s main indexes were steady at the start of a holiday-shortened trading session, as investors assessed data pointing to an easing labour market while looking ahead to more data and the Federal Reserve’s June policy meeting minutes. The Dow Jones Industrial Average rose 27.10 points, or 0.07 per cent, at the open to 39,358.95. …
Read MoreVodafone agrees new Virgin Media O2 tie-up to ease competition concerns
The deal, along with a proposed merger, could establish a reliable third competitor in the market, says Vodafone’s CEO of European markets BRITAIN’S Vodafone and Virgin Media O2 have agreed to extend their network-sharing deal to the mid-2030s, including a spectrum shift that could help Vodafone to win regulatory approval for its tie-up with mobile…
Read MorePentagon has a Huawei dilemma Congress doesn’t want to solve
THE Pentagon has a problem: How does one of the world’s largest employers avoid doing business with companies that rely on China’s Huawei Technologies, the world’s largest telecommunications provider? So far, the Defense Department is saying that it can’t, despite a 2019 US law that barred it from contracting with anyone who uses Huawei equipment.…
Read MoreBoustead unit partners Evotion Labs to deploy Singapore’s first EV motorcycle battery swop stations
A UNIT of engineering and technology group Boustead Singapore has signed a memorandum of understanding (MOU) with local electric vehicle (EV) solutions provider Evotion Labs to deploy Singapore’s first battery charge and swop stations for electric motorcycles. Under the MOU, Boustead Funds Management (BFM) – a real estate business unit under Boustead Singapore – will…
Read MoreIndonesia launches first EV battery plant
Indonesia launched its first electric vehicle battery plant on Wednesday (Jul 3), President Joko Widodo said, as South-east Asian countries move to gain a foothold in the emerging industry. The country, which is the region’s largest economy and home to the largest nickel reserve in the world, has been seeking to position itself as a…
Read MoreWorld Bank backs Thai central bank in keeping rate steady
The World Bank said Thailand should wait for a clearer picture of the economy before easing monetary conditions, effectively backing the central bank’s interest-rate policy against the government’s calls for early easing. Prime Minister Srettha Thavisin has been embroiled in an escalating feud with the Bank of Thailand (BOT) which has defied pressure from the…
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