Posts by Yurie Miyazawa
Grab’s deal to buy Singapore taxi firm might lessen competition, regulator says
Nasdaq-listed ride hailing company Grab’s deal to buy Singapore’s private taxi firm Trans-cab Holdings is likely to result in substantial lessening of competition in the local market, the city-state’s competition watchdog said on Thursday (Jul 11). South-east Asian firm Grab had in July 2023 agreed to buy Singapore’s third-largest taxi operator without giving out a…
Read MoreRolex, Patek watch prices fall even further behind equities
PRICES for the most sought-after luxury watches slipped on the secondary market again last month, extending a two-year decline as investors turn elsewhere after a pandemic-era rally fizzled. The Bloomberg Subdial Watch Index, which tracks the 50 most-traded watches by transaction value, declined less than 1 per cent in June. It’s fallen 8 per cent…
Read MoreUniqlo owner posts 29% jump in Q3 operating profit
The company raised its full-year profit forecast to 475 billion yen from 450 billion yen Japan’s Fast Retailing, the owner of clothing brand Uniqlo, said on Thursday (Jul 11) its third-quarter operating profit surged 29 per cent, buoyed by strong sales at home. Profit rose to 144.7 billion yen (S$1.2 billion) in the three months…
Read MoreApple’s Vision Pro won’t cross 500,000 sales this year, IDC says
APPLE’s biggest new product in years is not expected to shake off its slow sales start until the release of a cheaper model next year. The US$3,500 Vision Pro mixed-reality headset has yet to sell 100,000 units in a quarter since its launch in the United States in February, and it faces a 75 per…
Read MoreChina’s plan to save the economy comes at a cost to factories
THE pen squeaks as Jeff Pan sketches a chart on a white-board. He draws a black line signifying consumption that shoots up, then a blue line that edges higher in fits and starts, before ultimately overtaking the first. That, he explains, is supply. Pan, who manages a mid-sized copper processing plant in China’s manufacturing heartland,…
Read MoreSeatrium announces strategic partnership agreement with Teekay Australia
OFFSHORE and marine specialist Seatrium has secured a favoured customer contract agreement from Teekay Shipping (Australia). Also known as Teekay Australia, the company provides vessel operation services under contracts with the Australian government. Its first vessel under the contract agreement is scheduled for repairs in Seatrium’s Admiralty Yard in July 2024, with six more dockings…
Read MoreVietnam carrier becomes world’s best-performing airline stock
A SURPRISE return to profit has propelled Vietnam Airlines to become the world’s best-performing airline stock this year, shrugging off the risk of bankruptcy as the company ’s post-pandemic recovery finally picks up momentum. The state-owned carrier has rallied 179 per cent so far in 2024, lifted by a rebound in travel demand. That steered…
Read MoreChina announces more short-selling curbs to stabilise stocks
CHINA’S securities regulator on Wednesday (Jul 10) announced more curbs on short-selling and pledged tighter scrutiny of computer-driven programme trading in its latest effort to bolster a flagging stock market. Short-selling, involving the sale of borrowed shares, is often blamed in China by regulators and investors for exacerbating market declines. The China Securities Regulatory Commission…
Read MoreChina’s Leapmotor aims to take EVs global with Stellantis deal
CHINESE electric vehicle (EV) maker Leapmotor is little known outside its home country, and even there it is overshadowed by bigger players such as BYD and Tesla. But co-founder and chief executive officer Zhu Jiangming expects that to all change soon, after striking a potentially transformational deal with Stellantis – the maker of Chrysler, Fiat,…
Read MoreUK overhauls listing rules in bid to lure IPOs to London
UK REGULATORS overhauled their rules for companies looking to make their public debut in London, part of a concerted effort to draw more initial public offerings to the City. The new rules allow companies to carry out more activities without putting them to a shareholder vote, the UK’s Financial Conduct Authority (FCA) said on Thursday…
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