Posts by Stephanie Irvin
Gold heads for weekly dip as strong dollar, US data weighs
[BENGALURU] Gold was flat in early Asian trade on Friday (Jul 18), heading for a weekly fall, weighed down by an overall stronger US dollar and solid US economic data. Spot gold was steady at US$3,339.22 per ounce, as at 0038 GMT. US gold futures were flat at US$3,344.70. Bullion is down 0.5 per cent…
Read MoreFood Empire partners AirAsia to launch ready-to-drink beverages
The tie-up kicks off with a Vietnamese iced-coffee product to be sold on board the airline’s flights [SINGAPORE] Mainboard-listed Food Empire will partner low-cost airline AirAsia to co-develop and launch a new range of ready-to-drink beverages. The memorandum of understanding was signed between Food Empire’s unit Empire International and AirAsia’s Santan Food Services, said the…
Read MoreStocks to watch: OCBC, Singtel, Wilmar, Food Empire, Telechoice
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Jul 18): OCBC, Singtel: The bank will partner the three local universities on research to develop quantum technology applications in derivative pricing, fraud detection and data security. On Thursday, it inked 12-month long collaboration agreements with the National University…
Read MoreWells Fargo suspends China travel after employee exit ban: source
[NEW YORK] Wells Fargo has suspended all travel to China after a banker was blocked from leaving the country, a source familiar with the matter told Reuters on Thursday (Jul 16), causing broader anxiety about the risks of travel in the country. The US banking giant’s Chenyue Mao was subjected to an exit ban after…
Read MoreOil jumps US$1 after further drone attacks on Iraq oil fields
[HOUSTON] Oil prices rose US$1 on Thursday (Jul 16) after drones struck Iraqi Kurdistan oil fields for a fourth day, pointing to continued risk in the volatile region. Brent crude futures settled at US$69.52 a barrel, up US$1.00, or 1.46 per cent. US West Texas Intermediate crude futures finished at US$67.54 a barrel, up US$1.16,…
Read MoreAmazon’s AWS cloud computing unit cuts jobs
Published Thu, Jul 17, 2025 · 11:57 PM [SAN FRANCISCO] Amazon cut jobs in its Amazon Web Services cloud computing unit on Thursday (Jul 17), a spokesperson confirmed following a Reuters inquiry. “We’ve made the difficult business decision to eliminate some roles across particular teams in AWS,” the spokesperson said in an emailed statement. “These…
Read MoreChina’s WeRide secures LTA approval to run driverless bus without safety officer in Sentosa
[SINGAPORE] China-based WeRide has secured approval from Singapore’s Land Transport Authority (LTA) to operate a driverless bus in Sentosa without an on-board safety officer. This will be the first autonomous vehicle (AV) in South-east Asia to run without such personnel on board, the company said in a press release on Thursday (Jul 17). Called the…
Read MoreSamsung chairman Lee’s long legal saga ends with acquittal
[SEOUL] Samsung Electronics executive chairman Lee Jae-yong was cleared of all charges related to accounting fraud and stock manipulation by South Korea’s Supreme Court, marking a major legal victory for the billionaire head of the world’s largest electronics empire. The top court on Thursday (Jul 17) upheld a Seoul High Court ruling that acquitted Lee…
Read MoreNo let-up in India’s private market boom as investors continue to shun China
[SINGAPORE] A surge in the value of private equity (PE) deals signed in India in the first half of this year, coupled with the inking of the country’s biggest private credit transaction, are adding fuel to a hot private market. With investors still keeping away from China, traditionally the largest Asian private market, the strong…
Read MoreWilmar to acquire up to 20% of Mumbai-listed joint venture with Adani
[SINGAPORE] Agri-specialist Wilmar International has agreed to acquire up to 20 per cent of the shares held by India’s Adani Commodities in the two companies’ joint venture (JV), for 275 rupees per share. Wilmar’s wholly owned unit Lence will purchase a maximum of 259.9 million shares in the Mumbai-listed JV, AWL Agri Business (formerly known…
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