Posts by Stephanie Irvin
Nokia CEO makes world’s first ‘immersive’ phone call
NOKIA CEO Pekka Lundmark made a phone call using a new technology called “immersive audio and video” that improves the quality of a call with three-dimensional sound, making interactions more lifelike, the company said on Monday (Jun 10). “We have demonstrated the future of voice calls,” said Lundmark, who was also present in the room…
Read MoreFrench bank stocks drop after snap election called
FRENCH stocks fell on Monday (Jun 10) after President Emmanuel Macron dissolved the country’s lower house of parliament and called new legislative elections following a drubbing for his group in European voting on Sunday. BNP Paribas and Societe Generale tumbled more than 5 per cent. The move weighed on broader markets, with the Stoxx…
Read MoreCommonwealth Bank of Australia may exit Vietnamese bank after foreign investor cap vote
VIETNAM International Joint Stock Bank (VIB) shareholders will vote on Tuesday (Jun 11) to lower the cap on foreigners’ holdings, a move which sources said may lead to the exit of its main overseas investor, Commonwealth Bank of Australia (CBA). CBA, Australia’s largest lender, holds 19.8 per cent of VIB’s shares, according to VIB’s latest…
Read MoreNew option by Case and Law Society to resolve consumer-business disputes from Oct 1
CONSUMERS involved in disputes with businesses will soon have another avenue to resolve them. From Oct 1, those who are unable to reach a settlement through the Consumers Association of Singapore’s (Case) mediation centre can opt for a “non-binding neutral evaluation”, said the consumer watchdog and The Law Society of Singapore on June 10. A…
Read MoreBrokers’ take: Phillip Capital initiates ‘buy’ on Oiltek with S$0.70 target price
PHILLIP Capital initiated coverage on Oiltek International with a “buy” call on the company’s growing book orders and its belief that the company is currently riding multiple capital expenditure (capex) cycles. The research house set a price target of S$0.70 for Oiltek, which works out to a price-to-earnings ratio estimate of 15 times. This implies…
Read MoreStandard Chartered sets up first global fund management entity in Singapore
STANDARD Chartered has incorporated its first variable capital company (VCC) in Singapore, the banking group announced on Monday (Jun 10). Its new global fund management entity, Standard Chartered Funds VCC (SC Fund), will enable the group to launch a series of funds catered to its high-net-worth clients. The fund will offer such clients exclusive access…
Read MoreSu Jianfeng gets 17 months jail, the longest sentence among the ten money launderers
MONEY launderer Su Jianfeng, one of the 10 foreign nationals arrested in Singapore’s largest money laundering case, was handed a jail term of 17 months on Monday (Jun 10). This came after the 36-year-old Vanuatu national pleaded guilty to one count of money laundering under the Corruption, Drug Trafficking and Other Serious Crimes Act (CDSA)…
Read MoreBinance-linked token’s record cements founder Zhao as richest US inmate
THE BNB token, a cryptocurrency linked to Binance and its incarcerated co-founder Zhao Changpeng, surged to a record high in the first week of his four-month jail sentence in the US. Its rally underscores Zhao’s status as the richest person ever to do time in a US federal lock up. Zhao reported to a prison…
Read MoreWTI expected to extend losses following breakdown
WEST Texas Intermediate (WTI) oil prices have continued to decline from their highs since reaching a peak of US$87.60 per barrel in mid-April this year, falling to their lowest levels since February following the Organization of Petroleum Exporting Countries and allies (Opec+) meeting held at the start of this month. In the meeting, members signalled…
Read MoreMexican peso posts worst week in 4 years as traders rush for exit
The Mexican peso is wrapping up the worst week in four years as a surprise election outcome sent traders rushing to unwind one of the most crowded positions in global currency markets. The peso tumbled more than 7.5 per cent after the Morena ruling party’s unexpected landslide win in congressional races stoked fears that lawmakers…
Read More