Posts by Yurie Miyazawa
Asia: Markets rise ahead of Fed chief’s Congress testimony
ASIAN markets rose on Tuesday following gains in US stocks and ahead of Fed chief Jerome Powell’s testimony to Congress which will be closely watched for any hints on the timing of rate cuts. The US central bank has held interest rates at the highest levels in more than two decades to bring inflation down…
Read MoreHong Kong unveils plan to regulate Uber 10 years after launch
HONG Kong outlined long-anticipated plans to regulate ride-hailing services, potentially limiting the scope of Uber Technologies in a city known for its poor taxi services. Authorities intend to license platforms such as Uber and adopt tougher penalties for rule breaking, the Transport and Logistics Bureau said in a paper published on Monday (Jul 8). Taxi…
Read MoreCharting a Hi-P return to the Singapore bourse, backed by a S$100m cash injection from Temasek-linked firm
ADVANCED manufacturing service provider Hi-P has secured a S$100 million investment from Temasek-backed 65 Equity Partners, likely with a view to a listing on the Singapore Exchange. The capital injection was through the Local Enterprise Fund, a joint S$1 billion fund with the Singapore government to develop local companies. Hi-P and 65 Equity Partners will…
Read MoreFood manufacturers struggle to cut down plastic packaging
WHEN Costco tried to cut down on its plastics use earlier this year, putting its popular rotisserie chicken in a thin bag instead of a bulkier clam shell, some chicken lovers were displeased. The bags were leaky, they said, and risked making a greasy mess. Their edges were prone to splitting open. “Chicken juice spilled…
Read MoreMalaysian palm oil grower ready for tougher ESG rules with IPO
JOHOR Plantations Group (JPG) will use funds raised in its RM735 million (S$211 million) initial public offering (IPO) to build a palm oil operation powered by clean energy, as it navigates increasingly tough regulations in key markets such as Europe. The mid-sized palm oil producer is confident about appealing to European consumers thanks to its…
Read MoreStocks to watch: Tan Chong International, CapitaLand Investment
THE following companies saw new developments that may affect trading of their securities on Tuesday (Jul 9): Tan Chong International: The car distributor said it is expecting an 86.6 per cent fall in profit after tax to HK$25 million (S$4.3 million) in the first half of 2024, from HK$187 million in the previous corresponding period.…
Read MoreMicrosoft to offer Apple devices to employees in China, cites absence of Android services
MICROSOFT intends to offer Apple’s iOS-based devices to its employees in China to access authentication apps, a company spokesperson said on Monday (Jul 8), citing the absence of Google’s Android services in the country. Microsoft has been under increased scrutiny after a series of security breaches, the latest being that of Russian hackers who spied…
Read MoreRetail investors’ leveraged bets threaten Japan chipmaker stocks
WHILE Japan’s broad Topix index reclaimed its historic high on Thursday (Jul 4), a large build-up of margin buying positions by individual traders is looming as a potential headwind for semiconductor makers, power companies and some growth stocks. Outstanding margin buying positions are near an 18-year peak, despite a small reduction in data published last…
Read MoreUS airlines cancel over 1,300 flights due to Hurricane Beryl
Airlines in the United States cancelled more than 1,300 flights and delayed over 1,000 flights on Monday (Jul 8) as Hurricane Beryl intensified and made landfall in Texas. A total of 1,361 flights were cancelled and 1,014 flights were delayed as of 9.06 am ET, according to the flight tracking website FlightAware. United Airlines led…
Read MoreNo light at end of tunnel for Indonesia’s IPO market after dismal H1
[JAKARTA] Indonesia – last year’s global leader in initial public offerings (IPOs) – is bracing for a sharp drop in both the number and value of IPOs for the remainder of 2024 due to global economic uncertainty and high interest rates, according to Schroders Indonesia.
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