Posts by Yurie Miyazawa
Indonesia’s move to control coal prices faces Chinese pushback
THE Indonesian government’s plan to regulate the price of coal exports is facing pushback from its largest customer, as firms in China baulk at paying higher costs as other suppliers lower their rates. Indonesian Energy Minister Bahlil Lahadalia this week issued a regulation forcing coal exporters from Mar 1 to use the official pricing standard,…
Read MoreAsian chip shares tumble on Nvidia earnings, tariff fears
A POOR market reception of Nvidia’s earnings and the spectre of additional US tariffs have knocked down Asian chip stocks, dragging Japan’s tech-heavy Nikkei average down to its lowest level since September. A Bloomberg gauge of 25 Japanese chip-related stocks sank as much as 4.5 per cent, the biggest intraday fall since September, led by…
Read MoreBank of Japan vows to keep tapering bond buying despite rise in yields
THE Bank of Japan (BOJ) will keep tapering its government bond purchases despite recent rises in yields, deputy governor Shinichi Uchida said on Friday (Feb 28), stressing its huge bond holdings continue to exert a strong stimulus effect on the economy. Uchida also reiterated the central bank’s readiness to continue raising short-term interest rates if…
Read MoreGold set for first weekly drop in nine; focus on US inflation data
GOLD edged higher on Friday (Feb 28) but was set to snap an eight-week winning streak on a stronger US dollar, while investors turned their focus to a key US inflation data for cues into the Federal Reserve’s monetary policy trajectory. Spot gold was up 0.1 per cent at US$2,879.09 an ounce, as at 0030…
Read MoreSingapore hedge fund with 33% gain bets big on Suzuki Motor
Suzuki’s shares have more than doubled since a 2022 low, beating the MSCI world auto benchmark’s 2.9 per cent rise A SINGAPORE-BASED hedge fund that beat the market with a 33 per cent return last year said Suzuki Motor’s robust India strategy will help shelter its portfolio from global trade risks. The Japanese automaker’s limited…
Read MoreZheneng Jinjiang H2 profit surges over 26 times to 411.6 million yuan; S$0.023 cash dividend per share proposed
CHINA-BASED waste treatment group Zheneng Jinjiang Environment reported a net profit of 411.6 million yuan (S$76.2 million) for the second half ended Dec 31, rising more than 26 times the 15.3 million yuan it posted the prior corresponding period. This translated to an earnings per share (EPS) of 0.2838 yuan for the half-year period, up…
Read MoreAutodesk to cut jobs as it targets higher profits
AUTODESK is planning to cut about 1,350 employees as part of a broader focus on profitability following pressure from investors including activist Starboard Value. The reductions will amount to about 9 per cent of the workforce, the company said on Thursday (Feb 20). Bloomberg had earlier reported on the planned job cuts. The positions are…
Read MoreMeta in talks to raise US$35 billion for data-centre financing led by Apollo
APOLLO Global Management is in talks to lead a roughly US$35 billion financing package for Meta Platforms to help develop data centres in the US, according to sources with knowledge of the matter. The alternative asset manager has discussed providing a major part of the financing, said the sources, who asked not to be identified…
Read MoreEurope: Carmakers drive shares lower after Trump’s tariff threats on EU
EUROPEAN shares retreated from record highs on Thursday (Feb 27), with automakers leading declines as investors evaluated the impact of US President Donald Trump’s potential tariffs on the European Union. The pan-European Stoxx 600 index closed down 0.5 per cent, after touching a record high on Wednesday. An index of European autos and component makers…
Read MoreWho is Catherine Wu, the adviser highlighted in the CDL board tussle?
CDL group chief executive Sherman Kwek says the “primary reason” for the ongoing dispute at the property behemoth relates to “a very serious issue of corporate governance” involving Dr Wu CITY Developments Ltd (CDL) group chief executive Sherman Kwek highlighted a Dr Catherine Wu on Thursday (Feb 27) in his latest response in the “attempted…
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