Posts by Yurie Miyazawa
Singapore port congestion shows global ripple impact of Red Sea attacks
CONGESTION at Singapore’s container port is at its worst since the Covid-19 pandemic, a sign of how prolonged vessel re-routing to avoid Red Sea attacks has disrupted global ocean shipping – with bottlenecks also appearing in other Asian and European ports. Retailers, manufacturers and other industries that rely on massive box ships are again battling…
Read MoreFTX customers to vote on multi-billion US dollar repayment plan
FTX customers will be asked in the coming weeks to vote on the failed crypto exchange’s multi-billion US dollar plan for compensating victims whose assets have been locked on the platform since it collapsed. Judge John Dorsey said on Tuesday (Jun 25) he will authorise FTX bankruptcy advisers to begin soliciting creditor votes on a…
Read MoreOil prices dip as investors fret over demand outlook
CRUDE oil prices fell 1 per cent on Tuesday as weak US consumer confidence data fed worries about the economic outlook and fuel demand after a slow start to the US summer driving season. Brent futures for August settled down US$1, or 1.2 per cent, at US$85.01 a barrel. US crude futures settled at US$80.83, down 80…
Read MoreVolkswagen invests US$5 billion in EV startup Rivian to form joint venture
VOLKSWAGEN (VW) will invest US$5 billion to form a joint venture with electric vehicle (EV) maker Rivian Automotive, throwing a lifeline to the struggling startup and giving the German automaker access to the American EV company’s technology. VW said in a release that it will invest US$1 billion immediately in Rivian and an additional US$4…
Read MoreKeppel Infrastructure Trust unit obtains S$612.5 million green loan
It will make payment of approximately equal debt-servicing amounts (principal and interest) every six months KEPPEL Infrastructure Fund Management said that a subsidiary of Keppel Infrastructure Trust has obtained a sustainability-linked loan of S$612.5 million, and the proceeds will be used to refinance a loan. According to the bourse filing the trustee-manager of Keppel Infrastructure…
Read MoreBybit is now the world’s second-largest crypto exchange
BYBIT surpassed Coinbase in March to become the world’s second-largest cryptocurrency exchange after Binance, according to a report from crypto research firm Kaiko. The launch of spot Bitcoin exchange-traded-funds in the US helped Bybit double its market share to 16 per cent in March from 8 per cent in October 2023. Coinbase did not…
Read MoreUS: Nasdaq, S&P 500 open higher after Nvidia and other AI-linked stocks selloff
The Nasdaq and the S&P 500 opened higher on Tuesday (Jun 25) as Nvidia and some other AI-linked stocks rose after bruising selloffs, while investors awaited further cues on monetary policy path based on remarks by Federal Reserve officials and economic data this week. The Dow Jones Industrial Average fell 12.42 points, or 0.03 per…
Read MoreNissan to start producing EVs for Dongfeng Motor by year-end: Nikkei
NISSAN Motor will produce electric vehicles for its Chinese joint-venture partner Dongfeng Motor at its Wuhan factory by year-end, the Nikkei newspaper reported on Tuesday (Jun 25), a sign of pressure on the automaker’s China business. By producing EVs for Dongfeng, Nissan aims to reduce fixed costs and increase the operating rate of the factory,…
Read MoreLufthansa raises ticket prices to meet environmental requirements
Lufthansa will not be able to bear additional costs resulting from regulatory requirements in the next few years Lufthansa will increase ticket prices on all flights departing from EU countries, Britain, Norway and Switzerland by between 1 euro (S$1.45) and 72 euros (S$104.48)) as environmental costs rise, the company said on Tuesday (Jun 25). The…
Read MoreUS dollar’s dominance secure, Brics see no progress on de-dollarisation: report
THE US dollar remains the world’s primary reserve currency, and neither the euro nor the so-called Brics countries have been able to reduce global reliance on the US dollar, a new study by the Atlantic Council’s GeoEconomics Center shows. The group’s “US dollar Dominance Monitor” said the US dollar continued to dominate foreign reserve holdings,…
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