Posts by Stephanie Irvin
Tesla not keen on local production in India, minister says
Published Mon, Jun 2, 2025 · 04:20 PM [NEW DELHI] Tesla does not want to produce cars in India, a federal minister said on Monday (Jun 2), while adding that Mercedes-Benz and Volkswagen are among the foreign carmakers eyeing India’s new electric vehicle policy. Tesla has long wanted to sell in the world’s third-largest car…
Read MoreNio’s May deliveries up 13.1% as Firefly rolls out, but stock hovers near 52-week low
[SINGAPORE] Chinese electric vehicle (EV) maker Nio delivered 23,231 vehicles in May, marking a 13.1 per cent increase year on year, the company said in a regulatory filing on Sunday (Jun 1). This was, however, about 2.8 per cent fewer vehicles compared to Nio’s delivery of 23,900 vehicles in April. Of the deliveries made in…
Read MoreHSBC to inject US$4 billion into its private credit funds
Banks have been trying to muscle in, with some such as Citi and UBS partnering with existing players Apollo and General Atlantic Published Mon, Jun 2, 2025 · 01:20 PM [LONDON] Europe’s biggest bank HSBC will inject US$4 billion into its private credit funds, amid a wider push by banks into the booming market as…
Read MorePhilippines eyes India, Thailand rice to cut Vietnam reliance
[MANILA] The Philippines, the world’s top rice importer, plans to look beyond its dominant supplier, Vietnam, to ensure steady supplies and competitive prices at home. The agriculture department is in talks with private importers on purchases from producers such as India, Pakistan, Cambodia and Myanmar, Agriculture Secretary Francisco Tiu Laurel said on Friday (May 30).…
Read MoreFed’s Waller still open to cutting interest rates later this year
[NEW YORK] US Federal Reserve governor Christopher Waller said on Monday (Jun 2) that interest rate cuts remain possible later this year even with the Trump administration’s tariffs likely to push up price pressures temporarily. Given that a rise in inflation pressures tied to US President Donald Trump’s import tax increases is unlikely to be…
Read MoreGold prices climb on softer US dollar, Trump’s fresh tariff threat
Investors now see a 50-basis-point rate cut by the US Federal Reserve this year, starting in October Published Mon, Jun 2, 2025 · 10:01 AM [BENGALURU] Gold prices climbed on Monday (Jun 2)as US President Donald Trump threatened to double tariffs on imported steel and aluminium, while a weaker US dollar also supported greenback-priced bullion.…
Read MoreMorgan Stanley sees dollar falling 9% on slowing US growth bets
[SINGAPORE] The US dollar will tumble to levels last seen during the Covid-19 pandemic by the middle of next year, hit by interest rate cuts and slowing growth, according to predictions by Morgan Stanley. A popular gauge of the US dollar will fall around 9 per cent from current levels by around this time next…
Read MoreBig Tech is back in S&P 500 driver’s seat as profit engines hum
[SAN FRANCISCO] The same technology giants that helped drag the S&P 500 to the brink of a bear market in April are giving the recovery in US equities some legs. Nvidia put a bow on a better-than-expected earnings season for Big Tech last week by delivering a strong outlook for revenue, despite US restrictions on…
Read MoreOil advances as Opec+ supply boost vies with geopolitical risk
Published Mon, Jun 2, 2025 · 08:02 AM [SINGAPORE] Oil gained as a third straight production increase by the Organization of the Petroleum Exporting Countries and its allies (Opec+) vied with heightened geopolitical risk in Ukraine and Iran. Brent crude for August rose as much as 2.1 per cent to US$64.09 a barrel, after losing…
Read MoreAsia’s coal-reliant steel giants stall green transition: panellists
[SINGAPORE] Asia’s steel giants are slowing the global green transition, as top producers China and India drag their feet on decarbonisation amid high costs and weak market demand – stalling progress in one of the world’s top-emitting industries. During a panel discussion at Singapore International Ferrous Week last week, Claire Chong, senior analyst at shipbroker…
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