Posts by Stephanie Irvin
US: Wall Street opens higher on jobs data optimism; Tesla rebounds
Published Fri, Jun 6, 2025 · 09:42 PM [NEW YORK] US stock indexes opened higher on Friday (Jun 6) after a strong jobs report calmed worries over the health of the labour market, while Tesla shares rebounded on signs of cooling tensions between CEO Elon Musk and US President Donald Trump. The Dow Jones Industrial…
Read MoreSasseur Reit receives up to 508 million yuan from sponsor for refinancing
[SINGAPORE] Sasseur Real Estate Investment Trust’s (Reit) said a wholly owned subsidiary of its sponsor has entered into an unsecured sponsor loan agreement of up to 508 million yuan (S$91.1 million). The proceeds from the sponsor loan will help to repay existing offshore bank loans, due in March 2026. As the sponsor loan is denominated…
Read MoreProcter & Gamble’s job cuts raise questions over possible impact on Singapore operations, new facility plans
[SINGAPORE] Procter & Gamble (P&G) has so far stayed silent about how its planned reduction of about 15 per cent of its global non-manufacturing workforce over the next two years will affect its operations in Singapore. The consumer goods giant had on Thursday (Jun 5) announced at a Deutsche Bank conference in Paris that it…
Read MoreModi launches US$5.4 billion rail project in Jammu and Kashmir
[NEW DELHI] India’s Prime Minister Narendra Modi inaugurated the world’s tallest railway bridge connecting the restive Kashmir valley with the rest of the country on Friday (Jun 6), marking his first visit to the region after days of missile and drone attacks with Pakistan brought the two nuclear-powered nations close to a war. Along with…
Read MoreDigital token service providers need licence to solely serve overseas customers: MAS
[SINGAPORE] Digital token service providers (DTSP) will need a licence to serve overseas customers only, said the Monetary Authority of Singapore (MAS) on Friday (Jun 6). The regulator has clarified the scope of the new DTSP regulations, saying that the risks of money laundering are higher in such business models and if most of their…
Read MoreMAS, SPF to block website access to unlicensed trading platforms Octa and XM from Jun 20
[SINGAPORE] The websites of unlicensed trading platforms Octa and XM will be blocked for Singapore residents with effect from Jun 20, said the Monetary Authority of Singapore (MAS) and the Singapore Police Force in a joint statement on Friday (Jun 6). “Consumers with active accounts with Octa and XM will not be able to access…
Read MoreCordlife collection rates still under pre-incident levels, but resumed Singapore operations are ‘encouraging’
[SINGAPORE] Cordlife said that the full resumption of its Singapore operations is an “encouraging step” in restoring client confidence and regaining operational momentum, even though collection rates have not recovered to average levels from before a storage lapse in December 2023. The cord blood bank resumed operations earlier this year after the Ministry of Health…
Read MoreIndonesia sovereign wealth fund interested in Grab-GoTo deal: Bloomberg
[SINGAPORE] Indonesia’s sovereign wealth fund Danantara is considering a stake in the Grab acquisition of GoTo for US$7 billion, reported Bloomberg. The sovereign wealth fund is said to be in preliminary discussions with GoTo to acquire a minority stake in the combined entity. The Indonesian government owning a slice of the Grab-GoTo entity could assuage…
Read MoreGold rises as weak US data offsets optimism from Trump-Xi call
GOLD rose on Friday and was set for weekly gains, as a spate of weak US economic data outweighed optimism from President Donald Trump’s call with his Chinese counterpart Xi Jinping, while investors awaited US payroll data. Spot gold was up 0.3 per cent at US$3,362.89 an ounce, as of 0152 GMT. Bullion is up 2.3 per cent…
Read MoreUS Treasury says Bank of Japan should continue to tighten policy
[TOKYO] The Bank of Japan should continue to proceed with monetary tightening, which would support a “normalisation of the yen’s weakness” and rebalancing of bilateral trade, the US Treasury Department said on Thursday. “BOJ policy tightening should continue to proceed in response to domestic economic fundamentals including growth and inflation, supporting a normalisation of the…
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