Posts by Yurie Miyazawa
BYD to use Huawei’s advanced autonomous driving system in off-road EVs
CHINESE electric vehicle (EV) giant BYD has signed an agreement with Huawei to use the Chinese tech conglomerate’s advanced autonomous driving system in its off-road Fangchengbao EVs, Huawei said on Tuesday (Aug 27). The Bao 8 SUV under the Fangchengbao lineup will be the first BYD model to sport Huawei’s Qiankun intelligent driving system and…
Read MoreAviation regulators press for global efforts to tackle turbulence
AVIATION officials from Asia are making a case for global action to reduce injuries from turbulence, with recent high-profile incidents driving calls to improve forecasting across borders at a Montreal gathering of regulators starting on Monday (Aug 26). While turbulence does not frequently cause fatalities, it is the leading cause of accidents, according to data…
Read MorePetroChina’s strong drilling leads to record first half
PETROCHINA posted record earnings for the first half of the year as high drilling output and strong oil prices helped it weather weakening fuel demand in China. China’s largest oil and gas driller said output rose to 905.5 million barrels of oil equivalent in the period. Beijing has pushed its state-owned oil giants to invest…
Read MoreSilverlake Axis jumps 23.3% on privatisation offer
After calling for a trading halt on Monday, the company announced it had received a voluntary unconditional offer to privatise at S$0.36 in cash per share SHARES of Silverlake Axis surged above a one-year high after the enterprise technology company resumed trading on Tuesday (Aug 27) morning, following news of a privatisation offer from a…
Read MoreGold drifts near record high amid Fed rate-cut optimism, geopolitical woes
GOLD prices held steady on Tuesday (Aug 27), lingering near record highs, as safe-haven demand from rising geopolitical tensions in the Middle East and increasing bets on a US Federal Reserve interest rate cut in September provided support. Spot gold was flat at US$2,515.83 per ounce by 0027 GMT. Bullion hit a record high of…
Read MoreTemasek’s SeaTown raises over US$1.3 billion for private credit fund
The fund targets a net return in the mid-teens, along with a double-digit distribution yield to investors SEATOWN Holdings, an investment manager indirectly owned by Temasek, has announced the final close of SeaTown Private Credit Fund II with over US$1.3 billion in capital commitments. This is more than total commitments of US$1.2 billion secured for…
Read MoreStocks to watch: Thomson Medical, Silverlake Axis, RE&S
THE following companies saw new developments that may affect trading of their securities on Tuesday (Aug 27): Thomson Medical: The healthcare provider on Monday posted a net profit of S$13.4 million for the second half of its 2024 fiscal year ending Jun 30, down 2.5 per cent year on year. This came as higher revenue…
Read MoreBHP annual profit rises 2%, says open to higher debt for acquisitions
BHP Group reported a better-than-expected annual underlying profit on Tuesday due to growth at its iron ore and copper businesses and said it was comfortable with raising its debt target for any potential acquisitions. “We are comfortable to move above our net debt target temporarily to execute value accretive opportunities in the portfolio,” said the…
Read MoreParamount explores sale of 12 local TV stations
PARAMOUNT Global is moving ahead with asset disposals to raise cash, sources familiar with the matter said, amid the ongoing takeover saga involving the media company. The CBS parent has hired a bank to help it explore options, including a potential sale of a dozen TV stations that it considers non-core, the sources said. These…
Read MoreS-Reit DPUs weighed down by interest rates in H1, but tide to turn in H2
HIGHER interest rates and financing costs remained “the biggest villains” for Singapore-listed real estate investment trusts, or S-Reits, weighing down on their distributions in the first half of 2024. However, interest rate cuts, which appear to be increasingly likely, will “turn the tide” for S-Reits in the second half of this year, said market watchers.…
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