Posts by Yurie Miyazawa
Strong momentum in India’s economic activity seen sustaining, says central bank chief
Strong momentum in India’s economic activity has continued in the first quarter of the new financial year that started in April, with private investment also picking pace, Reserve Bank of India governor Shaktikanta Das said on Tuesday (Jun 18). The RBI kept the key repo rate unchanged at 6.5 per cent for an eighth straight…
Read MoreBerkshire Hathaway boosts stake in Occidental Petroleum to nearly 29%
BILLIONAIRE Warren Buffett’s Berkshire Hathaway acquired another 2.95 million shares in Occidental Petroleum, a regulatory filing showed, bringing his stake in the US oil producer’s common stock to nearly 29 per cent. Berkshire disclosed in a US Securities and Exchange Commission filing on Monday (Jun 17) that it paid about US$176 million in three separate…
Read MoreHitachi to plan selling stake in Johnson Aircon JV
Hitachi is planning to sell its 40 per cent stake in an air-conditioning joint venture with Johnson Controls International, according to people familiar with the matter. Such a move would likely mean an outright sale of Johnson Controls-Hitachi Air Conditioning. Johnson, which owns the other 60 per cent, has for months been exploring a sale…
Read MoreMore central banks to increase gold reserves within 12 months
More central banks plan to add to their gold reserves within a year and more of them expect others to do so as well, due to ongoing macroeconomic and political uncertainty despite high prices for the precious metal, the World Gold Council (WGC) said in its annual survey. Demand for gold from central banks has…
Read MoreCapitaLand Investment adopts cooling-as-a-service at flagship Singapore properties
CapitaLand Investment (CLI) will adopt cooling-as-a-service (Caas) systems in Raffles City Singapore, Plaza Singapura and The Atrium@Orchard, the global real asset manager announced on Tuesday (Jun 18). This comes amid the company’s efforts to drive for sustainability and cost efficiency. The cooling systems across the three flagship properties will cover 4.8 million square feet (sq…
Read MoreBrokers’ take: Maybank downgrades Grab to ‘hold’ on monetisation hurdles
MAYBANK Securities downgraded its call on Grab to “hold” from “buy” and reduced its target price by 11.1 cent to US$4 from US$4.50. This came as the research house sees mild growth headwinds and monetisation hurdles for the Nasdaq-listed transportation and fintech platform, despite its scale advantages and structural growth drivers, it said in a…
Read MoreTroubled electric vehicle maker Fisker files for bankruptcy
ELECTRIC vehicle (EV) startup Fisker has filed for bankruptcy after discussions with a major automaker about an investment ended without a deal. Fisker listed assets of between US$500 million and US$1 billion and liabilities of between US$100 million and US$500 million in its bankruptcy petition filed on Jun 17 in Delaware. The filing protects Fisker…
Read MoreToyota shareholders re-elect chairman but question governance
AKIO Toyoda was reappointed as Toyota Motor’s chairman at its annual meeting, but the Japanese carmaker faced tough questions from shareholders over governance and an ongoing probe of vehicle safety certifications. Stockholders also voted against a motion urging Toyota, the world’s biggest auto manufacturer, to be more transparent about its lobbying activities, namely its pushback…
Read MoreAsia: Markets rise with Wall Street as traders eye latest US data
ASIAN equities rallied on Tuesday, tracking another tech-driven record on Wall Street, while investors awaited fresh US economic data to get a better handle on the outlook for inflation. With few major catalysts to drive business, the thoughts of Federal Reserve officials this week will be parsed for an idea about their plans for interest…
Read MoreBank of Japan may raise rates in July depending on data, says Governor Ueda
BANK of Japan Governor Kazuo Ueda said on Tuesday the central bank could raise interest rates next month, depending on economic and price data available at the time. “Our decision on bond-buying taper and interest rate hikes are two different things,” Ueda told parliament. “There’s a chance we could raise interest rates at our next…
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