Posts by Yurie Miyazawa
Wall Street bets on new riches ahead in markets all-in on Trump
ALL year, a slew of Wall Street pros have questioned the durability of an indiscriminate risk rally that has fattened stock prices by trillions of dollars, sent Bitcoin soaring, fueled a credit bonanza, and more. All year, besides a short-lived market wobble in the summer, they have been dead wrong. Now with Donald Trump storming…
Read MoreUS dollar on track for weekly gain after Trump election win
The greenback rose on Friday (Nov 8) and was heading for a weekly gain as investors evaluated the likely impact on the American economy of Tuesday’s election of Republican Donald Trump as US president. Analysts expect Trump’s policy proposals – including more trade tariffs, a clampdown on illegal immigration, lower taxes and business deregulation –…
Read MoreOil settles down 2% on receding hurricane risk, lacklustre China stimulus
OIL prices settled more than 2 per cent lower on Friday (Nov 8) as traders grew less fearful of prolonged supply disruptions from a hurricane in the US Gulf of Mexico, while China’s latest economic-stimulus packages failed to impress some oil traders. US West Texas Intermediate futures led the decline and settled at 70.35 per…
Read MoreDelivery Hero’s Talabat to launch over US$1 billion Dubai IPO next week: sources
TALABAT, the Middle East business of Delivery Hero, plans to launch its Dubai initial public offering next week, three people familiar with the plans told Reuters, in one of the UAE’s biggest IPOs this year. The deal, set by the German parent for the fourth quarter, could start as soon as Monday (Nov 11), two…
Read MorePierre Cardin to be hit with EU antitrust fine for cross-border sales curbs: sources
FRENCH fashion house Pierre Cardin is set to be fined in the coming weeks for licensing and distribution deals with German clothing maker Ahlers in breach of European Union rules on online and cross-border sales, people familiar with the matter said. The move by the European Commission, which acts as the EU competition enforcer, followed…
Read MoreSBS Transit Q3 earnings 1.7% higher at S$18.2 million in spite of lower operating profit
LISTED bus and train operator SBS Transit’s net profit inched up 1.7 per cent year on year to S$18.2 million for the third quarter of FY2024 to September. This is in spite of a reduced operating profit but a lower tax expense helped to cushion the hit. In its business update filed to the Singapore…
Read MoreUMS Integration Q3 profit slumps 32% to S$10.4 million
SEMICONDUCTOR manufacturer UMS Integration on Friday (Nov 8) reported a 32 per cent decline in profit to S$10.4 million for the three months ended Sep 30, from S$15.3 million in the same period a year prior. Earnings per share for the quarter was S$0.0146, compared with S$0.0229 year on year. The fall in profit was…
Read MoreVenture Corp’s Q3 net profit falls 4.7% to S$60.6 million
TECHNOLOGY company Venture Corporation reported a 4.7 per cent quarter-on-quarter (qoq) fall in net profit to S$60.6 million for the third quarter of 2024, from S$63.5 million in the previous quarter. Revenue was down 3.9 per cent qoq at S$689.7 million, from S$717.5 million in Q2. This was largely due to softer demand in the…
Read MoreSingapore banks lead STI rally; index closes up 1.4%
THE Straits Times Index (STI) continued to rally on Friday (Nov 8), hitting a 10-year high. It was up 1.4 per cent or 50.88 points at 3,724.37. Across the broader market, advancers outnumbered decliners 297 to 283, after two billion securities worth S$2.3 billion changed hands. The trio of local banks hit new record…
Read MoreChina’s car sales jump in October as automakers rush to meet annual goals
CHINA’S passenger vehicle sales jumped 11.2 per cent in October year on year, the second straight monthly rise and the fastest growth since January, led by domestic champion BYD as automakers raced to meet annual sales targets. Sales in the world’s largest auto market totalled 2.28 million vehicles last month and increased 3 per cent…
Read More