Posts by Yurie Miyazawa
Tesla poised for 1 billion euros windfall from EU’s emissions curbs
TESLA could collect more than 1 billion euros (S$1.4 billion) in compensation from rival automakers that need help meeting tougher pollution standards in the European Union this year, UBS Group analysts said. The US company will pool the fleet of electric vehicles it sells this year with at least five other manufacturers, led by Toyota…
Read MoreJapan flags foreign takeover of 7-Eleven owner as a national security issue
A POTENTIAL foreign acquisition of Japanese retail giant Seven & i would be “heavily related” to national security, Japan’s Economy Minister Ryosei Akazawa said on Wednesday (Jan 8). His public comment is the first by a senior Japanese official over security issues raised by a US$47 billion buyout offer by Canada’s Alimentation Couche-Tard. Seven &…
Read MoreiShares MSCI Asia ex-Japan Climate Action ETF crosses US$1.22 billion in AUM
IN over a year since its launch, the iShares MSCI Asia ex-Japan Climate Action ETF has surpassed US$1.22 billion in assets under management (AUM). This was buoyed by a recent investment worth US$708 million from Finnish pension fund Ilmarinen, said a release from asset manager BlackRock on Wednesday (Jan 8). Managed by BlackRock and anchored…
Read MoreGeopolitical conflicts cloud Singapore fund managers’ outlook for 2025: Imas survey
SINGAPORE fund managers are anticipating an escalation in geopolitical conflicts, which will leave a material impact on the global economy and financial markets. As a result, most do not foresee robust performance from Asian markets this year. This cautious perspective was highlighted in the Investment Management Association of Singapore (Imas) investment managers’ annual survey, where…
Read MoreChina renews car trade-in subsidy to boost hybrid, EV sales
CHINA has renewed a trade-in subsidy of up to 20,000 yuan (S$3,724) to help underpin sales of fuel-efficient vehicles, including electric cars and hybrids. Buyers who trade in an old car for a new electric vehicle (EV) or plug-in hybrid will receive a 20,000 yuan subsidy, while people who purchase a petrol car with an…
Read MoreJapanese chipmaker Renesas to cut less than 5% of global workforce
JAPANESE chipmaker Renesas Electronics will cut less than 5 per cent of its global workforce, amounting to fewer than 1,000 positions, as it grapples with sluggish demand for its chips. Renesas, whose customers include automakers Toyota and Nissan, has also cancelled salary increases including for executives planned for this spring. The company did not provide…
Read MoreCordlife’s Teo Tong Kooi resigns as chairman; Zhai Lingyun steps up
EMBATTLED cord-blood bank Cordlife Group announced on Wednesday (Jan 8) that Zhai Lingyun, the company’s non-independent non-executive director, has been appointed as its new chairman. This follows the resignation of Teo Tong Kooi, who stepped down from the position of chairman with immediate effect on Tuesday to “focus on other commitments”, the group said in…
Read MoreSTI ends up 1.5%; banks, Yangzijiang Shipbuilding lead gains
SINGAPORE shares ended higher on Wednesday (Jan 8), led by gains in the local banks and Yangzijiang Shipbuilding. The Straits Times Index (STI) expanded 1.5 per cent or 58.81 points to 3,886.98. On the local bourse, decliners outnumbered advancers 283 to 237, as 960 million shares worth S$1.4 billion changed hands. STI constituent Yangzijiang Shipbuilding,…
Read MoreSamsung Q4 profit outlook misses estimates by large margin as chip issues drag
SAMSUNG Electronics released on Wednesday a fourth-quarter operating profit estimate that missed analyst estimates by a large margin, as it lagged behind rival SK Hynix in supplying high-end chips to Nvidia. The world’s largest memory chip, smartphone and TV maker estimated an operating profit of 6.5 trillion won (S$6.1 billion) for the three months ended…
Read MoreSingapore engages Australia to study social media age limits
SINGAPORE’S government is open to instituting minimum-age laws for social media use and is in talks with counterparts in Australia over the matter, an official said on Tuesday (Jan 7). Australia in November passed legislation banning people younger than 16 from social networks such as Facebook, establishing some of the most stringent Internet usage restrictions…
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