Posts by Yurie Miyazawa
China’s Sinochem plans to exit US shale JV with Exxon: sources
CHINESE state-backed oil and chemicals company Sinochem is planning to sell its 40 per cent stake in a US shale joint venture (JV) with oil major ExxonMobil, valued upwards of US$2 billion, people familiar with the matter told Reuters. Sinochem in recent weeks hired investment bankers at Barclays to advise it on the potential sale…
Read MoreUS: Wall Street opens higher after July inflation data
Wall Street’s main indexes opened higher on Friday (Aug 30) after a key inflation report reiterated price pressures were moderating, cementing bets for an interest-rate cut at the Federal Reserve’s September meeting. The Dow Jones Industrial Average rose 31.11 points, or 0.08 per cent, at the open to 41,366.16. The S&P 500 opened higher by…
Read MoreSingtel raises S$1.48 million for students with special needs
SINGTEL, on Friday (Aug 30), raised S$1.48 million in its annual charity golf event to support students with special needs across six adopted special education (Sped) schools. This marks a record amount raised from the telco’s charity event, surpassing the previous one of S$1.28 million set in the previous year. The donations will go to…
Read MoreCountry Garden delays 2023 annual results again
CHINA’S largest property developer Country Garden on Friday (Aug 30) further delayed the release of its 2023 financial results, as it needed more time amid an ongoing debt restructuring. The firm had previously delayed the results in March, saying it needed more time to collect information for making appropriate accounting estimates and judgements. “The group…
Read MoreChina’s top airlines post losses, hit by slow international travel and domestic oversupply
CHINA’S leading state-owned airlines posted losses in the first half of the year, weighed down by a slower-than-expected international travel rebound, domestic oversupply and more intense competition as aviation capacity returns globally. Its top three airlines – Air China, China Southern Airlines and China Eastern Airlines – last reported annual net profits in 2019, before…
Read MoreMHA seeks feedback on orders to restrict banking transactions of scam targets
THE Ministry of Home Affairs (MHA) is seeking feedback from the public on a proposed Bill that will give police the power to temporarily restrict the banking transactions of targets of ongoing scams. In a press release published on Friday (Aug 30), the ministry said that the police will exercise the power on those who…
Read MoreYuan hits strongest in more than a year as flows offset fundamentals
THE Chinese currency extended a recent advance to levels unseen in more than a year, as traders mulled signs of corporate buying amid broad US dollar weakness. The offshore yuan gained 0.3 per cent to 7.0752 per US dollar, its strongest since June 2023. In August, the currency has surged around 2 per cent to…
Read MoreDBS consumer banking head Jeremy Soo to succeed UOB’s Susan Hwee as Nets chair
NETWORK for Electronic Transers (Nets) has appointed Jeremy Soo, DBS’ head of consumer banking and managing director, as its chairman, effective Sunday (Sep 1). He succeeds UOB’s Susan Hwee, who has been Nets chairman since September 2021. UOB previously announced that Hwee will head its group retail business, also from Sep 1, relinquishing her current…
Read MoreSingapore shares open higher on Friday; STI up 0.4%
SINGAPORE shares rose on Friday (Aug 30) morning, after US indices were mixed and Europe’s main stock index closed higher overnight. The Straits Times Index (STI) was up 13.54 points or 0.4 per cent at 3,418.01 as at 9.03 am. Across the broader market, gainers outnumbered losers 75 to 37, after 55 million securities worth…
Read MoreStocks to watch: SIA, GuocoLand, Tan Chong International, Cordlife, IHH Healthcare
THE following companies saw new developments that may affect trading of their securities on Friday (Aug 30):
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