Posts by Stephanie Irvin
LMIRT’s gearing exceeds 45% amid currency changes
LIPPO Malls Indonesia Retail Trust’s (LMIRT) aggregate leverage ratio is estimated to have reached 45.2 per cent, up from the last disclosed 43.7 per cent as at end-March 2024. This came mainly as the rupiah appreciated by a significant 3.5 per cent against the Singapore dollar, reducing the value of LMIRT’s assets after translation into…
Read MoreChina’s retail outlook dims after mid-year shopping festival flop
RETAILERS in China face a daunting near-term future after a disappointing mid-year online shopping festival that has also clouded the recovery prospects of the world’s second-largest economy. E-commerce sales declined for the first time during the so-called 618 festival that ended last week, reports said, reflecting the pressures building up on retailers who are already…
Read MoreEuropean airport pollution threatens health of 52 million people: NGO
HIGH concentrations of tiny particles released when aviation jet fuel is burnt pose a health risk to 52 million people living around Europe’s busiest airports, NGO Transport & Environment warned Tuesday. Ultrafine particles (UFPs), which are approximately 1,000 times smaller than a human hair, are released during a plane’s takeoff and landing. Their minuscule size…
Read MoreOil prices rise on fuel demand expectations, easing US dollar
OIL prices rose about 1 per cent on Monday, spurred by the prospect of strong summer driving demand and as tensions in the Middle East and drone attacks on Russian refineries led to concerns about supply. An easing US dollar added to the crude price strength. Brent futures for August delivery settled at US$86.01 a barrel,…
Read MoreAirbus cuts guidance as supply-chain snags continue to bite
AIRBUS cut its earnings and aircraft-delivery goals for the year as persistent supply-chain issues continue to deprive the European planemaker of vital components, dealing a setback to the company at a time when demand for its jets is at a record. The company now expects to hand over 770 aircraft this year, down from a…
Read MoreBest World’s exit offer ‘fair and reasonable’, says independent financial adviser
Evolve Capital Advisory pegs the estimated value of each Best World share at between S$1.36 and S$2.69 THE exit offer by has been deemed “fair and reasonable” by an independent financial adviser, said an offer circular filed on Monday (Jun 24). The adviser, Evolve Capital Advisory, has thus recommended through the board’s independent directors that…
Read MoreUS: Nasdaq drops as Nvidia, chips drag; inflation data in focus
The Nasdaq opened lower on Monday (Jun 24) after Nvidia and some other chip stocks remained under selling pressure, with investors on tenterhooks as a key inflation print this week is set to further shape bets over the timing and quantum of rate cuts this year. The Dow Jones Industrial Average rose 34.16 points, or…
Read MoreUK government snubs GSK in favour of rival RSV shot from Pfizer
The decision is a blow to GSK, which is locked in fierce competition with Pfizer to corner the new market to protect against respiratory syncytial virus GSK has lost out to Pfizer on a contract to supply millions of doses of its blockbuster RSV vaccine to the UK in a setback for the local pharma…
Read MoreUS dollar slips; yen briefly jumps as intervention worries linger
THE US dollar was slightly weaker on Monday (Jun 24) but remained close to an almost eight-week high, while the yen briefly jumped as it languished near the 160 level, which had earlier drawn verbal warnings from Japanese authorities. The yen weakened to 159.94 per dollar in early trade, its lowest since Apr 29, when…
Read MoreApple charged with breaching EU tech rules, faces another probe
European Union antitrust regulators charged on Monday (Jun 24) that Apple breached the bloc’s tech rules, a charge that could result in a hefty fine for the iPhone maker, which also faces another investigation into new fees imposed on app developers. The European Commission, which is also the EU’s antitrust and technology regulator, said it…
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