Posts by Stephanie Irvin
Google’s latest data centre raises its investment in Singapore to S$6.7 billion
GOOGLE has increased its investment in infrastructure in Singapore to S$6.7 billion with the completion of its fourth data centre here. This is up from US$850 million in 2022 when its third data centre in the Republic was launched. This was announced on Jun 3 during an event at Google’s office in Mapletree Business City…
Read MoreGameStop shares double as Keith Gill’s post shows US$116 million bet
GAMESTOP Corp shares more than doubled after the Reddit account that drove the meme-stock mania of 2021 posted what appeared to be a US$116 million position in the game retailer. The Jun 2 screenshot by Keith Gill, who goes by DeepF– Value on Reddit, shows five million shares bought at US$21.27 apiece. It was the…
Read MoreIndia stocks hit record, rupee gains as polls predict Modi win
India’s stocks surged to a record, while the rupee and sovereign bonds climbed after exit polls signalled an emphatic victory for Prime Minister Narendra Modi’s ruling party. The NSE Nifty 50 Index rallied as much as 3.6 per cent, after most polls showed the Bharatiya Janata Party-led alliance securing a comfortable majority in general elections…
Read MoreAustralia orders Chinese investors to sell down stake in rare earths miner
Australian Treasurer Jim Chalmers has ordered several China-linked investors to dispose of shares in rare earths miner Northern Minerals on national interest grounds, a spokesperson said on Monday (Jun 3). Northern Minerals is developing the Browns Range heavy rare earths project in Western Australia, at a time when the sector has become increasingly strategic for…
Read MoreGlobal airlines raise 2024 profit outlook as travel soars
Global airlines on Monday (Jun 3) raised their profit forecast for 2024 and projected industry-wide revenues just shy of US$1 trillion as a record number of travellers board flights. The International Air Transport Association (Iata) said it expected the worldwide industry to generate US$30.5 billion of profit this year, higher than an upwardly revised US$27.4…
Read MoreBank of Singapore names former GIC executive for newly created role
THE Bank of Singapore (BOS) named Owi S Ruivivar as its chief portfolio strategist, a new role to lead the development of a “systematic, robust and risk-based multi-asset allocation framework that will guide clients as they build long-term investment portfolios”. Ruivivar joins the OCBC : O39 0% subsidiary from GIC, where she served as managing…
Read MoreECB to start rate cuts but sticky inflation clouds path ahead
THE European Central Bank (ECB) is expected to begin cutting eurozone interest rates from historic highs this week, but sticky inflation means the move is unlikely to kickstart a rapid easing cycle. Policymakers are poised to reduce eurozone borrowing costs by a quarter percentage point on Thursday (Jun 6), taking the key deposit rate to…
Read MoreSeatrium inks MOU with M1 to explore 5G connectivity in yards
Seatrium has signed a memorandum of understanding (MOU) with M1 to enhance yard operations with 5G network. This is part of Seatrium’s digital strategy, which aims to establish a smart yard equipped with “future-proof ultra-high-speed connectivity”, said the offshore and marine group on Monday (Jun 3). The partnership aims to explore 5G connectivity within Seatrium’s…
Read MoreWomen directorships highest on record across three sectors in 2023
THE proportion of women appointed to board leadership roles across Singapore Exchange (SGX) -listed companies, statutory boards and institutions of public character (IPCs) in 2023 is the highest it has ever been, the Council for Board Diversity announced in an annual study published on Monday (Jun 3). Women directors took up 17 per cent of…
Read MoreNew sponsors of Ara H-Trust, Cromwell E-Reit unlikely to quickly lift their depressed valuations
INVESTORS may have mixed feelings about the recently announced sale of ARA US Hospitality Trust (ARA H-Trust) and Cromwell European Real Estate Investment Trust (Cromwell E-Reit) by their respective sponsor groups. On the one hand, the change in control of these property trusts could mark the beginning of a new phase of their growth and…
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