Posts by Stephanie Irvin
Global Invacom, Green Build Technology added to SGX watch list
SATELLITE communications equipment provider Global Invacom : QS9 0% and green energy solutions provider Green Build Technology : Y06 0% will be placed on the Singapore Exchange Regulation’s watch list from Wednesday (Jun 5), as the exchange commences its half-yearly review. According to the listing rules, a company will be placed on the watch list…
Read MoreUS dollar regains footing after sharp drop but yen keeps rallying
THE US dollar bounced on Tuesday (Jun 4) after falling to its lowest against the euro, sterling and Swiss franc since mid-March overnight as signs of a softening US economy boosted the case for earlier Federal Reserve interest rate cuts. Yet the yen powered 0.6 per cent higher for a second day of solid gains…
Read MoreVolvo to issue world’s first EV battery passport ahead of EU rules
VOLVO Cars is launching the world’s first EV battery passport recording the origins of raw materials, components, recycled content and carbon footprint for its flagship EX90 SUV, which is about to start production, the Swedish automaker told Reuters. The passport was developed by Volvo, which is owned by China’s Geely, in partnership with UK startup…
Read MoreHSBC opening 3 wealth centres in Singapore as part of pivot to wealth banking
HSBC plans to open three wealth centres in Singapore by the first quarter of 2025, as part of its strategy to build its international and wealth propositions. The bank is increasing its investments fivefold in its physical network, as it pivots its branches into wealth centres “to facilitate comprehensive wealth conversations with clients”, it…
Read MoreRio Tinto to develop US$143 million facility to test low-carbon iron-making process
Rio Tinto will spend US$143 million to develop a research and development facility in Western Australia to assess the effectiveness of its low-carbon iron-making process, the mining giant said on Tuesday (Jun 4). The process, BioIron, uses raw biomass and microwave energy instead of coal to convert iron ore to metallic iron, and has the…
Read MoreGermany to sell 2.5 billion euros in Deutsche Telekom shares
Germany sold a 2.5 billion euros (S$3.66 billion) stake in Deutsche Telekom, the latest in a series of moves by the cash-strapped government to divest from some of its corporate holdings. German state-owned bank KfW is offering institutional investors 110 million shares, the lender said late on Monday (May 3). The placement will bring the…
Read MoreIndian stocks, rupee drop as early count signals narrow Modi win
Indian stocks slid on Tuesday (Jun 4), erasing gains that had pushed key indexes to record highs, as initial tallies of the national election signalled only a narrow victory for Prime Minister Narendra Modi-led Bharatiya Janata Party. The NSE Nifty 50 Index tumbled as much as 4.2 per cent in Mumbai, the biggest intra-day drop…
Read MoreAsia: Markets in reverse as US data spark economy worries
ASIAN markets fell on Tuesday (Jun 4) as traders were spooked by signs of weakness in the US economy, even as the data boosted hopes the Federal Reserve will cut interest rates this year. The losses came as energy firms were weighed by a further drop in oil that came after the Organization of the…
Read MoreGold flat as spotlight shifts to US data
GOLD prices were flat in early Asian trading on Tuesday (May 4) after a sharp gain in the previous session, as investors strapped in for US economic data due later in the week that could offer more clues to the Federal Reserve’s interest rate path. Spot gold was unchanged at US$2,347.48 per ounce, as at…
Read MoreGoogle cuts at least 100 jobs across its cloud unit, CNBC reports
ALPHABET-OWNED Google is laying off at least 100 employees from several teams in its cloud unit, CNBC reported on Monday (Jun 3). Roles in sales, operations and engineering, consulting and “go to market” strategy were some of the positions cut, the report said, citing internal correspondence. “We continue to evolve our business to meet our…
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