Posts by Stephanie Irvin
Ping An Insurance raises US$1.5 billion from convertible bonds
[HONG KONG] Ping An Insurance (Group) of China has sold HK$11.8 billion (S$1.9 billion) in bonds that can be converted into shares listed in Hong Kong, marking the insurance giant’s second such offering in under a year. The convertible bonds carry a zero coupon and are due in 2030, according to a company filing in…
Read MoreGlobal carriers pile on India capacity as US-Europe traffic drops
[LONDON] The skies above India are about to get a lot busier as international carriers add more routes to the world’s most-populated nation to make up for tepid transatlantic demand that’s come under pressure from global economic uncertainties. Foreign airlines and the biggest Indian operators announced a range of plans at the International Air Transport…
Read MoreVirgin Australia returns to stock market with launch of A$685 million IPO
[SYDNEY] Virgin Australia is set to return to the stock market after a five-year absence, with the Bain Capital-owned airline launching a A$685 million (S$572 million) initial public offering on Wednesday (Jun 4) amid a rebound in domestic tourism. The offering, Australia’s largest for the year so far, will see Bain’s stake drop to 39.4…
Read MoreNio records US$949.6 million net loss for Q1
[SINGAPORE] Chinese electric vehicle maker Nio posted a net loss of US$949.6 million for its first quarter of 2025 ended March, representing a 31.1 per cent increase from the year-ago period and a 3.4 per cent decrease from the previous quarter. This comes despite the group recording higher total revenue for the quarter, at US$1,658.4…
Read MoreStoneweg E-Reit announces strategic stapling to form stapled trust
On completion of the proposed stapling, the stapled entity will be named ‘Stoneweg Europe Stapled Trust’ or Sert for short [SINGAPORE] The manager of Stoneweg European Real Estate Investment Trust (Stoneweg E-Reit) on Wednesday (Jun 4) announced that the Reit will be converted into a stapled group. Each unit of Stoneweg E-Reit will be stapled…
Read MoreUS steel, aluminium tariff hikes to take effect on Wednesday: White House
[WASHINGTON] The United States will double its tariffs on imported steel and aluminium starting on Wednesday, according to the White House, as it published an order signed by President Donald Trump. The move marks a latest salvo in Trump’s trade wars, bringing levies on both metals from 25 per cent to 50 per cent. But…
Read MoreFed’s Bostic wants more progress on inflation, in no rush to cut
[NEW YORK] US Federal Reserve Bank of Atlanta president Raphael Bostic said he’s in no rush to move interest rates, adding he wants to see “a lot” more progress on inflation despite recent encouraging price data. “There’s still a ways to go in terms of the progress that we are going to need to see,”…
Read MoreUS: Stocks advance on hopes of China trade deal
Published Wed, Jun 4, 2025 · 06:09 AM [WASHINGTON] Wall Street stocks bounced on Tuesday as investors hoped for upcoming trade deals to cool tensions from US President Donald Trump’s punishing global tariffs. The Dow Jones Industrial Average closed 0.5 per cent higher at 42,519.64 while the broad-based S&P 500 gained 0.6 per cent to 5,970.37. The…
Read MoreUS: Wall Street opens mixed as investors await trade negotiations
Published Tue, Jun 3, 2025 · 09:46 PM [NEW YORK] Wall Street’s main indices opened mixed on Tuesday (Jun 3) as investors awaited possible negotiations between the United States and its trading partners for more clarity on the tariff war that has roiled financial markets for months. The Dow Jones Industrial Average opened flat at…
Read MoreThailand and Indonesia could be growth laggards in Asean: Nomura
[SINGAPORE] Thailand and Indonesia are expected to be growth laggards within Asean, noted Euben Paracuelles, chief Asean economist at Nomura at the Nomura Investment Forum Asia press conference held at The Ritz-Carlton, Millenia Singapore on Tuesday (Jun 3). In the case of Thailand, he pointed to the 36 per cent tariff threat it faces from the…
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