Posts by Yurie Miyazawa
Singapore stocks buck the trend in region’s sea of red; STI rises 0.5%
SINGAPORE shares closed higher on Tuesday (Sep 3), even as most regional indices ended in the red. The benchmark Straits Times Index (STI) rose 0.5 per cent or 17.26 points to 3,480.34. Across the broader market, gainers outnumbered losers 302 to 226, after 1.1 billion shares worth S$1 billion were traded. The biggest gainer on…
Read MoreMAS issues 5-year prohibition order against ex-RHB representative for false trading
THE Monetary Authority of Singapore (MAS) on Tuesday (Sep 3) issued a five-year prohibition order against a former representative of RHB Securities, following his conviction for false trading. Effective from Tuesday, Chong Yew Mun Alan is prohibited from taking part in the management, acting as a director, or becoming a substantial shareholder of any…
Read MoreTesla plans six-seat Model Y, production slated for 2025 in China, sources say
TESLA plans to produce a six-seat variant of its Model Y car in China from late 2025, two people with direct knowledge of the matter said, as the US automaker strives to increase the appeal of its best-selling yet aging electric vehicle (EV). Tesla has asked suppliers to prepare accordingly for a double-digit increase of…
Read MoreCathay cancels 48 flights, including for HK-Singapore route, as 15 Airbus planes need new engine parts
HONG Kong carrier Cathay Pacific said on Tuesday (Sep 3) that 15 of its Airbus A350 jets needed new engine parts after inspecting its entire fleet, which was grounded following a “first of its type” engine component failure. Cathay, one of the largest operators worldwide of the A350 jet, had grounded its 48-plane fleet of…
Read MoreBYD’s dominance is taking a toll on smaller Chinese EV rivals
CHINESE electric car maker BYD’s relentless growth is squeezing out smaller rivals, with Li Auto joining fellow upstart Xpeng in releasing disappointing earnings. In a stark highlight of their contrasting fortunes, BYD on Wednesday (Aug 28) posted a 33 per cent jump in second-quarter profit, while around the same time Li Auto posted a bigger-than-estimated…
Read MoreGlobalWafers must go global as tariffs rise worldwide, CEO says
GLOBALWAFERS is actively building out manufacturing overseas in anticipation of rising tariffs on chip materials, underscoring growing expectations that tit-for-tat trade measures will disrupt the semiconductor supply chain in the coming years. The world’s third-largest provider of silicon wafers is expanding its factories in six of the nine countries where it operates, including two factories…
Read MoreSingapore shares open higher on Tuesday; STI up 0.2%
Heavily traded counters include Suntec Real Estate Investment Trust and Genting Singapore SINGAPORE shares started trading in positive territory on Tuesday (Sep 3) despite the European market ending little changed the previous day. As at 9.02 am, the Straits Times Index (STI) opened 0.2 per cent or 5.76 points higher at 3,468.84. Across the broader market,…
Read MoreElon Musk to celebrate Giorgia Meloni as Italy eyes space sector investment
WHEN Italian Prime Minister Giorgia Meloni visits New York later this month to receive a global citizenship award, Elon Musk will be the one to hand her the prize. The Tesla chief executive and X owner will present Meloni with the Atlantic Council’s Global Citizen Award at a ceremony on Sep 23, according to sources…
Read MoreEurope: Stoxx 600 treads water at start of data-intensive week; Germany stocks notch record close
EUROPEAN shares were little changed on Monday, as investors analysed economic data for clues on the European Central bank’s policy trajectory, while Germany’s DAX index hit a record close, even as populist wins in state elections injected uncertainty. The pan-European Stoxx 600 index was little changed at 524.94 points, still hovering around its record highs touched last week after…
Read MoreTotalEnergies deepens ties with India’s Adani Green with US$444 million JV
PLANS for French oil major TotalEnergies to form a new joint venture with India’s Adani Green Energy took a step forward on Monday (Sep 2), as the Indian company’s board voted to approve a deal with a US$444 million investment on Total’s side. The pair had announced in September 2023 that they would form a…
Read More