Posts by Yurie Miyazawa
BOE reserves enter UK election debate as politicians chase cash
UK politicians are mulling changes to the way the Bank of England (BOE) pays out interest to commercial banks as they look for ways to generate more fiscal headroom ahead of elections next month. The most radical proposal came from Nigel Farage’s right-wing populist party Reform UK, which over the weekend advocated scrapping payments entirely,…
Read More‘Door open’ for multiple cuts this year despite Fed’s move to hold rates steady
DESPITE the US Federal Reserve dialling back on its forecast for cuts following its latest policy meeting, analysts say that the “door is open” for two cuts this year, with most expecting the first to come as early as September. They also expect the Asian equity market and bonds to remain attractive to investors despite…
Read MoreChina urges EU to reverse ‘wrong direction’ on EV tariffs
BEIJING hopes the European Union will reconsider tariffs on Chinese electric vehicles and stop going further in the “wrong direction” to shield its auto industry from competition, according to state news agency Xinhua. The reaction from China and others embroiled in the dispute, including European and Chinese carmakers, points to clear opposition to the EU…
Read MoreHong Kong central bank keeps key rate steady, tracking Fed move
THE Hong Kong Monetary Authority (HKMA) left its base rate through the overnight discount window unchanged at 5.75 per cent on Thursday (Jun 13), tracking a move by the US Federal Reserve to leave rates unchanged. The Federal Reserve held interest rates steady on Wednesday and pushed out the start of rate cuts to perhaps…
Read MorePhilippines rate cut likely after fed, finance chief says
THE Philippine central bank will “most probably” lower its key interest rate after the Federal Reserve’s own policy easing, according to Finance Secretary Ralph Recto who sees more than one cut this year. The Bangko Sentral ng Pilipinas (BSP) will consider inflation and the spread of Fed rates over domestic rates before cutting, Recto, a…
Read MoreDBS partners Future Supplier Initiative to decarbonise fashion sector
DBS partnered the Future Supplier Initiative to offer a collective financing model to support apparel suppliers’ decarbonisation, the bank announced on Thursday (Jun 13). The initiative aims to reduce financial risks and responsibilities of transitioning to renewable energy sources in Tier 1 and Tier 2 garment and textile factories. Facilitated by The Fashion Pact, the…
Read MoreFintech giant Ant Group spends record 21.2 billion yuan on research
ANT Group spent a record 21.2 billion yuan (S$4 billion) on research last year as the fintech giant increased its investment in technology including artificial intelligence. The affiliate of Alibaba Group Holding has been boosting its research and development investment over the past three years, according to its 2023 sustainability report released on Thursday (Jun…
Read MoreBoeing faces deadline to rebut possible US prosecution
BOEING faces a Thursday deadline to respond to a US Department of Justice determination that the planemaker can be prosecuted for violating a 2021 deal that allowed it to escape criminal prosecution over two fatal 737 MAX crashes. The embattled aviation giant delivered its official response on Wednesday contesting the Justice Department’s assessment, Bloomberg News…
Read MoreSingapore shares rise at Thursday’s open; STI up 0.6%
SINGAPORE equities began trading in positive territory on Thursday (Jun 13), as global sentiment remained upbeat after data showed US consumer prices were unexpectedly unchanged in May. As at 9.01 am, the Straits Times Index (STI) opened 0.6 per cent or 18.89 points higher at 3,326.33. Across the broader market, gainers outnumbered losers 96 to…
Read MoreBroadcom boosts revenue forecast from AI chips, unveils stock split
BROADCOM raised its annual forecast for revenue from chips that help in artificial intelligence (AI) work by 10 per cent on Wednesday (Jun 12) and announced a stock split to take advantage of a rally in its shares this year. Shares of the Palo Alto, California-based chipmaker surged 12 per cent in extended trading. The…
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