Posts by Stephanie Irvin
Qatar Airways looking to buy up to 20% stake in Virgin Australia
This comes as carriers challenge dominant airline Qantas for more market share in Australia QATAR Airways is in talks to buy up to a 20 per cent stake in Bain Capital-owned Virgin Australia, the Australian Financial Review reported on Wednesday (Jun 26). This comes as carriers fight for more market share in the country against…
Read MoreHDB’s June BTO exercise draws keen interest with application rate over 3 times
IN THE last exercise before the classification of Housing and Development Board (HDB) Build-To-Order (BTO) flats changes, the number of applicants in June jumped by more than 100 per cent compared with the previous application in February. As at 5 pm on Wednesday (Jun 26), there were 21,827 applicants vying for the 6,938 new flats…
Read MoreNomura executive earns a record US$12 million, tripling CEO’s pay
The pay boost came after soaring fixed-income trading and resurgent markets in Japan NOMURA Holdings gave Christopher Willcox the highest ever pay for an executive officer at Japan’s biggest brokerage after the company returned to profit growth. Willcox, who heads the Tokyo-based firm’s trading and investment banking, got US$12 million in compensation for the…
Read MoreSingapore stocks inch up on Wednesday as May factory output beats forecasts
SINGAPORE stocks ended slightly higher on Wednesday (Jun 26), as the city-state’s factory output data beat forecasts in May. The benchmark Straits Times Index (STI) rose 0.2 per cent or 5.42 points to 3,331.7. Across the broader market, gainers outnumbered losers 270 to 214, after one billion securities worth S$874.9 million changed hands. Singapore’s factory…
Read MoreChina’s 10-year yield down to lowest since 2002 on growth worry
The bonds have staged a sizzling rally on the back of China’s lacklustre economic growth, dovish monetary policy and ample liquidity in the banking system The yield on China’s benchmark bond fell to a more than two decade low as investors continued to flock to the notes amid lingering concerns about the domestic economy and…
Read MoreValueMax associates launch Well Chip IPO
WELL Chip Group has launched its RM172.5 million (S$49.6 million) initial public offering (IPO). Based on the indicative timeline released on Wednesday (Jun 26), the closing of applications for the IPO is slated for Jul 10, while the balloting of applications is set to take place on Jul 12. The IPO shares will be allotted…
Read MoreVietnam wants China’s help for high-speed railway development
VIETNAM is looking for China’s support with the development of the country’s high-speed railway networks including cross-border lines that would promote trade between the two countries. Prime Minister Pham Minh Chinh told Lou Qiliang, chairman of China Railway Signal Information, on the sidelines of the World Economic Forum in Dalian that Vietnam needs Chinese assistance…
Read MoreAustralia’s faster inflation raises risk of RBA rate hike
AUSTRALIA’S inflation accelerated faster than expected in May, sending the currency higher as traders boosted bets the Reserve Bank of Australia (RBA) will resume raising interest rates at its next meeting. The monthly consumer price indicator (CPI) climbed 4 per cent from a year earlier, exceeding economists’ estimate of 3.8 per cent, data from the…
Read MoreSouth Korea kicks off 26 trillion won of chip loans, funds from July
SOUTH Korea will begin awarding aid to chipmakers from July, kicking off a 26 trillion won (S$25 billion) package of financial support pledged towards boosting a critical industry. Seoul will begin with an 18 trillion won package of measures including preferential loans and investment capital. Starting next month, eligible firms can tap a 17 trillion…
Read MoreCash-strapped Stability AI raises US$80 million with new CEO and board
STABILITY AI said on Tuesday (Jun 25) it has raised funds and appointed industry veteran Prem Akkaraju as its top boss, months after the exit of founder and CEO Emad Mostaque compounded troubles at the cash-strapped generative artificial intelligence (AI) startup. The firm has raised about US$80 million in funding, according to a source familiar…
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