Posts by Yurie Miyazawa
Singapore stocks rise amid Fed rate-cut hopes; STI up 0.4%
SINGAPORE shares reversed earlier losses to close in the green on Thursday (Dec 12), with Asia-Pacific markets mostly in positive territory as mild inflation data from the United States fuelled expectations of a Federal Reserve interest rate cut this month. The Straits Times Index (STI) was up 0.4 per cent or 16.45 points at 3,809.27.…
Read MoreBlackstone keen to boost Nippon Life ties after Resolution deal
BLACKSTONE signalled that it’s eager to strengthen its relationship with Nippon Life Insurance following the Japanese firm’s US$8.2 billion purchase of Resolution Life Group Holdings. Nippon announced on Wednesday (Dec 11) that it plans to buy Blackstone-backed Resolution in a bid to expand globally. The private equity firm holds a small stake in Resolution and…
Read MoreIFC, HSBC ink US$1 billion risk-sharing facility to boost trade financing in emerging markets
The two will equally share the risk on a portfolio of trade-related assets held by emerging-market banks in 20 countries THE International Finance Corporation (IFC), the World Bank’s private finance arm, and HSBC Holdings announced on Thursday (Dec 12) the signing of a US$1 billion risk-sharing facility to help banks in emerging markets increase lending…
Read MoreApple working with Broadcom to develop AI chip: report
APPLE is working with Broadcom to develop its first server chip specially designed for artificial intelligence (AI) processing, the Information reported on Wednesday (Dec 11), citing sources with direct knowledge of the matter. The reported move would align the iPhone maker with other big technology companies that have developed their own chips to power compute-heavy…
Read MoreChina is urging EV firms to invest in South Africa, official says
CHINA is encouraging its electric vehicle (EV) manufacturers to invest in South Africa as it seeks to broaden ties between the two nations. “We encourage the Chinese companies to consider, very seriously consider, to move some of their assembly lines or value added in South Africa,” the Asian nation’s ambassador to South Africa Wu Peng…
Read MoreVolatility could roil base metal markets in 2025; analysts favour copper, tin amid energy transition
Potential headwinds include stronger US dollar, escalating trade tensions and China’s economic momentum BASE metal prices have been lifted this year by robust market fundamentals and a rise in green sentiment. But market watchers warn that the potential of a stronger US dollar and escalating trade tensions as Donald Trump returns to the White House…
Read MoreUS: Wall St opens higher after inflation data solidifies rate-cut bets
Wall Street’s main indexes opened higher on Wednesday (Dec 11) after an in-line inflation reading kept intact bets on the Federal Reserve cutting interest rates later this month. The Dow Jones Industrial Average rose 52.6 points, or 0.12 per cent, at the open to 44,300.41. The S&P 500 rose 25.2 points, or 0.42 per cent,…
Read MoreDel Monte Q2 net loss widens to US$22.2 million on subsidiary’s lower profit, higher interest expense
PHILIPPINE food-and-beverage manufacturer Del Monte Pacific on Wednesday (Dec 11) posted a net loss of US$22.2 million for the second quarter ended Oct 31, 2024, from a loss of US$8.5 million in the previous corresponding quarter. In a bourse filing on Wednesday (December 11), the company attributed the performance to a decrease in profit and…
Read MoreRon Sim and Osim send legal letter of demand to Trek 2000 International’s current and former chairmen
Ron Sim alleges fraudulent misrepresentations before he acquired shares of Trek 2000 in 2015 MASSAGE chair and appliance manufacturer Osim International and its founder Ron Sim have named the current and former chairmen of mainboard-listed technology company Trek 2000 International (Trek) in a legal letter of demand. In a bourse filing on Wednesday (Dec 11),…
Read MoreChina auto body seeks subsidy extension as EV exports take hit
CHINA’S biggest industry group for automobile makers urged the government to extend concessions for trading in older vehicles, as part of measures to spur domestic car sales amid a drop in electric vehicle exports. The vehicle trade-in policy, which offered a subsidy payment as high as 20,000 yuan (S$3,700), was credited for record high auto…
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