Posts by Yurie Miyazawa
China test-flies biggest cargo drone as low-altitude economy takes off
CHINA flew its biggest-yet unmanned cargo aircraft designed for civilian use, as the world’s top drone-making nation steps up test flights of autonomous aerial vehicles (UAVs) that could ultimately ferry everything from takeouts to people. Packing a payload capacity of two tonnes, the twin-engine aircraft took off on Sunday (Aug 11) on an inaugural flight,…
Read MoreChinese bonds extend losses as PBOC warns about potential risks
CHINA’S 10-year bonds extended recent declines as the central bank warned about potential risks arising from the relentless rally in the debt market. The benchmark yield headed for its biggest one-day gain since February on a closing basis after the People’s Bank of China (PBOC) said in a quarterly monetary policy report published on Friday…
Read MoreShell, PetroChina to expand Surat coal seam gas project in Australia
SHELL and PetroChina have decided to expand the Surat coal seam gas project (SGP) in Queensland, the British oil and gas giant said on Monday (Aug 12), amid calls for more investment to boost local energy supply. The decision comes at a time when industry executives have been pushing for government measures to bring back…
Read MoreHindenburg accusation of Adani conflict denied by Sebi chief
HINDENBURG Research accused the head of India’s market regulator of having conflicts of interest that prevented a thorough examination of manipulation and fraud claims at the Adani Group, an allegation she denied. In a report published on Saturday (Aug 10), Hindenburg said Madhabi Puri Buch and her husband, Dhaval Buch, invested in offshore entities that…
Read MoreSingapore shares open lower on Monday; STI down 0.3%
SINGAPORE stocks started trading in the negative territory on Monday (Aug 12). This comes despite Wall Street regaining almost all of its losses from the steep dive on Aug 5. As at 9.02 am, the Straits Times Index (STI) opened 0.3 per cent or 9.78 points lower at 3,252.05. Across the broader market, gainers outnumbered…
Read MoreHo Bee Land sells 49% stake in Elementum for S$134 million to sovereign wealth fund
The company says the deal paves the way for broader collaboration, exploring new avenues for strategic growth and development HO BEE Land has agreed to sell a 49 per cent stake in its wholly owned subsidiary, HB Universal, at a consideration of S$134 million. Completion of the deal is slated for Aug 21, 2024. HB…
Read MoreSingapore banks keep guard against rate cuts, market volatility in Q2, but expect to remain strong
They have taken various measures to reduce their interest rate sensitivity, lower funding costs, and ensure enough capital SINGAPORE banks continue to shore up against market volatility and impending rate cuts, even as their earnings remain ahead of expectations. All three local banks – DBS, OCBC and UOB – reported strong second-quarter net profits, and…
Read MoreSolar generation 53% cheaper than fossil fuels in Peninsular Malaysia in 2023: report
The country could also benefit from integrating solar and battery energy storage systems SOLAR power generation costs in Peninsular Malaysia were 53 per cent lower than that of fossil fuels last year, shows a new report, in a sign of the renewable energy source’s improving economics. Costs for the renewable energy stood at US$0.029 per…
Read MorePSA International unit to buy majority stake in Polish intermodal operator
The 85 per cent stake in Loconi will be acquired from publicly traded Polish freight forwarder ATC Cargo TEMASEK-OWNED port operator PSA International, through its subsidiary PSA Baltics, signed an agreement to acquire an 85 per cent majority stake in Polish intermodal operator Loconi International. The Singapore-based port group announced in a bourse filing on…
Read MoreBrutal sell-off skims froth from Japan’s US$6 trillion stock market
Japanese equities shed US$1.1 trillion in value as they kicked off August with a record three-day loss. For bullish investors, that’s providing a fresh reason to buy what has been one of 2024’s hottest trades. The stocks that were hit the hardest are the ones that had soared the highest, bringing prices down to more…
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