Posts by Yurie Miyazawa
Yen’s six-day slump highlights risk of Japan intervention
THE yen capped its longest losing streak since March and closed at a 34-year low, ramping up the risk that Japanese officials will once again step in to prop up the currency. On Thursday, the yen fell for a sixth-straight session, the worst stretch of losses in three months, to end the day trading just…
Read MoreOil prices rise on US crude draw; jobs data feeds rate cut hopes
OIL futures climbed on Thursday after the US Energy Information Administration (EIA) reported a draw on crude oil and data showing a cooling jobs market that stoked hopes the Federal Reserve could cut interest rates soon. Brent crude futures settled at US$85.71 a barrel, up 64 cents or 0.75 per cent. The session high of…
Read MoreNestle, Coke take cautious approach to catering to Ozempic users
NESTLE’S new food brand for people taking weight-loss drugs like Wegovy will note that the meals are high in protein, fibre and nutrients, but will not name the blockbuster medications, a company executive told Reuters. The world’s largest food maker is keeping the names of the drugs off the packaging due to regulatory concerns, Tom…
Read MoreBiden to ban US sales of Kaspersky software over ties to Russia: source
THE Biden administration on Thursday (Jun 20) will announce plans to bar the sale of Kaspersky Lab’s antivirus software in the United States, a person familiar with the matter said, citing the firm’s large US customers including critical infrastructure providers and state and local governments. The company’s close ties to the Russian government were found…
Read MoreUS: S&P 500, Nasdaq open higher on Nvidia boost
The S&P 500 and the Nasdaq opened higher on Thursday (Jun 20), propelled by a rally in Nvidia, while investors assessed the recent batch of economic data and commentary from US Federal Reserve officials to firm up bets on interest rate cuts this year. The Dow Jones Industrial Average fell 30.13 points, or 0.08 per…
Read MoreChina says EU mandated its EV firms turn over ‘unprecedented’ amounts of data
THE European Commission sought an unprecedented amount of detailed information on Chinese automakers’ supply chains during its investigation into the country’s subsidised electric vehicle imports, China’s commerce ministry said on Thursday (Jun 20). The Commission, which oversees trade policy for the 27-nation strong European Union, last week slapped extra duties on imported Chinese EVs following…
Read MoreParagon Reit to divest The Rail Mall for S$78.5 million
Divestment to be completed in H2 2024, and is not expected to affect net asset value or distribution per unit for FY2024 PARAGON Real Estate Investment Trust has entered into a sale-and-purchase agreement for the divestment of The Rail Mall for a cash consideration of S$78.5 million. The Reit manager said in a bourse filing…
Read MoreSTI dips 0.1% on Thursday as regional central banks hold rates steady
SINGAPORE shares fell on Thursday (Jun 20) as central banks in the region maintained their benchmark lending rates. The People’s Bank of China left its one-year loan prime rate at 3.45 per cent, and its five-year rate at 3.95 per cent. Meanwhile, Bank Indonesia maintained its interest rate at 6.25 per cent. It also left…
Read MorePassenger car COE premiums bounce back after previous round’s drop
CERTIFICATE of Entitlement (COE) prices for the two passenger car categories in June’s second round of bidding have bounced back after a significant drop in the previous round. But unlike June’s first round of bidding, which saw COE premiums for all categories fall, results were mixed this time around. Premiums for motorcycles saw a small…
Read MoreChina orders small banks to curtail wealth management business, sources say
The latest instruction also requires some small banks to reduce their wealth management business activities by the end of this year China’s banking regulator has given small banks a 2026 deadline to stop selling wealth management products unless they have a separate wealth subsidiary in a bid to curb financial risks, three people with knowledge…
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