Posts by Stephanie Irvin
Swiss National Bank cuts interest rate to zero in effort to stop franc inflows
[ZURICH] The Swiss National Bank (SNB) cut its interest rate to zero, seeking to deter investors from pushing up the franc. The quarter-point reduction on Thursday (Jun 19) is the sixth consecutive move by officials, and was forecast by most of the economists surveyed by Bloomberg after the currency’s strength caused consumer prices to drop…
Read MoreSingPost puts up 10 HDB shophouses for S$50 million in sale-and-leaseback bid
[SINGAPORE] National postal service provider Singapore Post (SingPost) has put up 10 Housing & Development Board (HDB) shophouses for sale and leaseback, The Business Times understands. These properties, distributed across the HDB heartlands, are expected to fetch S$50 million in total. The Teban Gardens Road shophouse has the lowest asking price of S$2.4 million, while…
Read MoreHong Kong Monetary Authority says outlook for local currency uncertain
The city’s de-facto central bank has made the comments in response to the US Federal Reserve’s overnight decision to keep rates unchanged Published Thu, Jun 19, 2025 · 02:13 PM [HONG KONG] The Hong Kong Monetary Authority (HKMA) said on Thursday (Jun 19) the outlook for the direction of the Hong Kong dollar and for…
Read MoreLatest Singapore six-month T-bill cut-off yield falls to 2%
It is the seventh consecutive issuance since Mar 26 for which yields have declined [SINGAPORE] The cut-off yield on Singapore’s latest six-month Treasury bill (T-bill) inched down to 2 per cent, based on auction results released by the Monetary Authority of Singapore on Thursday (Jun 19). This was a slight decrease from the 2.05 per…
Read MoreUS recovers US$225 million stolen in crypto scam
Published Thu, Jun 19, 2025 · 12:15 PM [NEW YORK] The US government said on Wednesday it recovered US$225 million in the largest seizure yet of money stolen in a cryptocurrency confidence scam. The FBI and the US Secret Service used blockchain analyses and other investigative techniques to determine that these millions came from the…
Read MoreBank of Japan’s gloomy projections suggest no rate hike this year: ex-top economist
[TOKYO] The Bank of Japan is likely to hold off raising interest rates this year unless a dramatic, positive turn of events in US tariffs allows it to overhaul gloomy projections made in May, its former top economist Seisaku Kameda said. In a quarterly outlook report released on May 1, the BOJ cut its price…
Read MoreAustralia: Shares hit 2-week low as miners, gold stocks fall; Fed holds rate
Published Thu, Jun 19, 2025 · 10:09 AM AUSTRALIAN shares hit a two-week low in early trade on Thursday, weighed down by miners and gold stocks as the US Federal Reserve’s cautious tone on rate cuts and softer commodity prices dampened investor sentiment. The S&P/ASX 200 index was down 0.2 per cent at 8516.2 by…
Read MoreMalaysia FX reserves at three-year high to aid ringgit stability
[KUALA LUMPUR] Malaysia’s increasing currency reserves are bolstering its defences against market volatility. The country’s net foreign exchange (FX) reserves rose to US$94.7 billion at the end of April, according to the latest central bank data, the most since June 2022. Strong foreign inflows into local bonds and a weaker greenback, which enabled Bank Negara…
Read MoreChipmaker Wolfspeed nears bankruptcy deal with lenders including Apollo
[WASHINGTON] Struggling chipmaker Wolfspeed will be taken over by creditors including Apollo Global Management under a proposal that would put it into bankruptcy just long enough to slash billions of US dollars in debt, according to sources familiar with the plan. The company will soon announce a deal with lenders for a so-called prepackaged bankruptcy,…
Read MoreNike delays launch of women’s brand in partnership with Kim Kardashian’s Skims
The new brand is set to be called NikeSKIMS, and is expected to include training apparel, footwear and accessories for women Published Thu, Jun 19, 2025 · 06:26 AM [NEW YORK] Nike’s launch of a new women’s activewear brand in the US through a partnership with Kim Kardashian-owned shapewear label Skims has been delayed, the…
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