Posts by Yurie Miyazawa
Bruised yen mired near 1986 low with eye on intervention
The yen languished near a 38-year low on the weaker side of 160 per dollar on Thursday (Jun 27), keeping traders on alert for any signs of intervention from Japanese authorities to prop up the currency. In the broader market, the dollar pared some of its gains from the previous session as US Treasury yields…
Read MoreBank of England repo demand climbs to record £21 billion
British banks received a record £21.347 billion (S$36.64 billion) in funds from the Bank of England at its weekly short-term repo on Thursday (Jun 27), marking the 11th time in the past 14 repos that usage has set a fresh record high. Usage of the repo, which allows banks to temporarily borrow cash from the…
Read MoreGreat Eastern to delist only if in our interests and conditions acceptable: OCBC
GREAT Eastern’s offeror OCBC will only take the insurer private if the “conditions are acceptable and in the interests of OCBC and its shareholders”, said the bank in response to questions from the Securities Investors Association (Singapore) or Sias. In the written statement published on the Singapore Exchange on Thursday (Jun 27), OCBC cleared the…
Read MoreWing Tai subsidiary bags 99-year residential site in River Valley
WING Tai’s wholly owned subsidiary has been awarded a 99-year leasehold residential site in River Valley at the tender price of about S$464 million, and plans to build over 400 apartments there. Winchamp Investment’s win, located at the junction of River Valley Green and River Valley Road, has a permissible gross floor area of 32,527…
Read MoreAsia: Yen gains after hitting 38-year low, traders on intervention watch
THE yen edged back slightly on Thursday after hitting a 38-year low against the dollar, putting investors on alert for a possible intervention by Japanese authorities, while investors awaited US inflation data that could spark another round of volatility. The Japanese unit’s latest retreat came as uncertainty surrounded the Federal Reserve’s timetable for cutting interest…
Read MoreHitachi to deploy Singtel platform for industrial AI solutions
HITACHI Digital, a subsidiary of Japanese multinational conglomerate Hitachi, will be utilising Singtel’s Paragon platform at its US facilities as part of a new collaboration. Paragon is an all-in-one orchestration platform for 5G, edge computing and cloud. It enables connectivity to the 5G network for the secure deployment of edge computing and artificial intelligence (AI) on telco…
Read MoreAustralian dollar saved by rate hike bets, bonds hammered
THE Australian dollar fell back against a strong US dollar on Thursday but held at 17-year highs on the battered yen, while domestic bonds were hammered by risks of a rate hike this year. The Aussie also jumped on the kiwi to the highest in a month as the rate outlook for their respective central…
Read MoreSingapore stocks fall at Thursday’s open; STI down 0.1%
SINGAPORE shares were trading lower at the opening bell on Thursday (Jun 27) after global equities ended mixed overnight. As at 9.01 am, the Straits Times Index (STI) fell 3.75 points or 0.1 per cent to 3,327.95. Across the broader market, losers outnumbered gainers 64 to 31 after 42.9 million securities worth S$68 million changed…
Read MoreBoeing resuming widebody airplane deliveries to China: source
BOEING is resuming widebody jet deliveries to China which were halted in recent weeks due to a Chinese regulatory review, according to a source familiar with the matter. Orders of widebody 777 and 787 planes are expected to be delivered in the coming days, the source said. Deliveries of Boeing‘s 737 MAX are set to resume as…
Read MoreBoeing faces whistleblower claims of lapses on some 787 jets
A MECHANIC who worked on Boeing’s 787 Dreamliner alleged he was retaliated against after raising concerns about a subcontractor’s work, according to a statement from attorneys representing him as a whistleblower. Mechanic Richard Cuevas claimed he observed “substandard manufacturing and maintenance practices” on the 787’s forward pressure bulkhead – a dome shaped piece located in…
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