Posts by Yurie Miyazawa
Gold edges higher as Fed backs September easing
GOLD prices ticked up on Monday (Aug 26), extending gains from the last session as Federal Reserve chair Jerome Powell’s dovish remarks solidified expectations of an interest rate cut next month. Spot gold rose 0.2 per cent to US$2,516.09 per ounce by 0027 GMT. US gold futures gained 0.2 per cent to US$2,551.30. The US…
Read MoreOil climbs on Middle East escalation fears, US rate cut expectations
OIL prices extended gains on Monday on fears a major spillover in fighting from the Gaza conflict into the Middle East could disrupt regional oil supplies, while imminent US interest rate cuts lifted the global economic and fuel demand outlook. Brent crude futures climbed 37 cents, or 0.5 per cent, to US$79.39 a barrel by…
Read MoreAustralia pension fund to acquire state’s Powerco stake: report
AUSTRALIAN Retirement Trust (ART), the nation’s second-largest pension fund, agreed to take majority ownership of New Zealand energy distributor Powerco, the Australian Financial Review reported, without saying where it got the information. The deal – expected to be inked this week – will see ART acquire a 33 per cent stake in the company in…
Read MoreEdgar Bronfman’s Paramount plans include partnership with big tech
EDGAR Bronfman Jr’s plans for Paramount Global include partnering with a technology stalwart such as Amazon.com or Apple to improve its streaming-TV business, according to people familiar with his thinking. The longtime media executive, who put in a last-minute bid for control of Paramount last week, does not believe any legacy media companies have really…
Read MoreFierce competition, narrow offerings stymie Malaysia’s digibank sector
Of the five digital banks granted licences, only three have begun operations; the other two have yet to launch their services [KUALA LUMPUR] Digital banks, once hailed as the next big thing in Malaysia’s financial landscape, are facing an uphill battle to live up to the initial hype, with progress slower than expected due to…
Read MoreTying executive pay to ESG: Singapore listcos see strategic role
Environmental, social and governance-linked pay can boost sustainability efforts, but metrics must be carefully designed AT LOCAL telco Singtel, top executives’ remuneration is not just based on hard financial metrics. Tackling issues such as climate change, digital inclusion and talent diversity also play a part in determining how they are compensated. Singtel is part of…
Read MoreNew dawn for S-Reits as Fed rate cuts get underway
Investors should not lose sight of the underlying fundamentals of various S-Reits, and the risk of more fundraising and acquisitions JEROME Powell left almost no doubt on Friday (Aug 23) that the Federal Open Market Committee will finally deliver its first rate cut next month. “The time has come for policy to adjust,” he said,…
Read MoreGood connections at Rotterdam but Wilmar faces green constraints at Europe’s busiest port
Chemicals transport company Eagletainer similarly faces supply chain disruptions and strict regulations [ROTTERDAM] Being near Europe’s busiest port gives a logistical edge – but the continent’s stricter green rules may hamper growth, as Singapore-listed agribusiness Wilmar International is discovering. Rotterdam, in the Netherlands, is home to Europe’s largest seaport and is a major transport hub.…
Read MoreIs PropertyGuru’s delisting good for South-east Asia’s tech scene?
PropertyGuru’s stint as a listed company might soon be coming to an end. Last week, Swedish private equity (PE) firm EQT offered to acquire the South-east Asian property listings portal for US$1.1 billion. Upon completion of the deal, which is expected to close in Q4 2024 or Q1 2025 and is subject to approval by…
Read MoreOpenAI taps former Meta executive to head strategic initiatives
OPENAI has hired former Meta Platforms executive Irina Kofman to head up strategic initiatives, continuing to beef up its staff with veterans of big technology companies. Kofman, who recently started at the artificial intelligence startup, is reporting directly to OpenAI chief technology officer Mira Murati and will focus on safety and preparedness initially, said a…
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