Posts by Yurie Miyazawa
Evergrande EV warns of losing key assets as local governments demand subsidy repayment
CHINA Evergrande New Energy Vehicle Group faces the risk of losing assets such as land and equipment, the company said on Tuesday (Jun 11), as local administrative bodies demand repayment of 1.9 billion yuan (S$354.4 million) in subsidies by its units. The local bodies last month sent a letter of demand asking unit Evergrande Automotive…
Read MoreSabana Reit’s tenant in Tuas Avenue 8 placed under provisional liquidation
THE tenant of Sabana Industrial Real Estate Investment Trust : M1GU 0% (Sabana Reit) at 30 and 32 Tuas Avenue 8 has been placed in provisional liquidation. The Reit’s manager said in a bourse filing on Tuesday (Jun 11) that the tenant in question, biotechnology company GDMC, accounted for about 2.4 per cent of the…
Read MoreSingapore’s Tolaram to buy Diageo’s shareholding in Guinness Nigeria
SINGAPORE-BASED consumer group Tolaram on Tuesday (Jun 11) agreed to buy Diageo’s 58.02 per cent shareholding in Guinness Nigeria and enter into long-term licence and royalty agreements, the Nigerian brewer said in a statement. Diageo, which makes Johnnie Walker Scotch and Smirnoff vodka, would retain ownership of the Guinness brand, which it will licence to…
Read MoreECB must neither rush nor dally after decisive cut, Villeroy says
THE European Central Bank (ECB) should neither rush nor procrastinate over future interest-rate cuts after a “decisive orientation” to start loosening last week, Bank of France Governor Francois Villeroy de Galhau said. With uncertainty reigning over the ECB’s next steps after its widely expected reduction to borrowing costs last week, the French central banker’s tone…
Read MoreUS plans to award US$23.9 million to Rocket Lab to boost chips for satellites, spacecraft
THE US Commerce Department said on Tuesday (Jun 11) it planned to award Rocket Lab US$23.9 million to dramatically boost compound semiconductors used in satellites and spacecraft. The award for Rocket Lab unit SolAero Technologies “would help create a more robust and resilient supply of space-grade solar cells that power spacecrafts and satellites,” the department…
Read MoreDaiwa Securities to buy Aozora Bank stake from activist fund
DAIWA Securities Group said it will increase its stake in Japan’s unprofitable Aozora Bank. The brokerage’s shares tumbled 4.6 per cent. Daiwa will buy 9.1 per cent of the bank from City Index Eleventh, a fund linked to Yoshiaki Murakami, Japan’s best-known activist investor, and Aya Nomura, who is Murakami’s daughter. Combined with an…
Read MoreSiemens Energy eyes biggest wind turbine to rival China
SIEMENS Energy has told customers it plans to produce its biggest wind turbine, potentially towards the end of the decade, as the company seeks to maintain its lead in one of the fastest-growing energy sectors. The firm aims to roll out an offshore generator that can produce around 21 megawatts of power, overpowering the biggest…
Read MoreAustralian dance teacher on board SQ321 left paralysed from chest down
AN AUSTRALIAN dance teacher on board Singapore Airlines flight SQ321 will never be able to dance again after suffering severe spine injuries on the turbulence-hit aircraft. Kerry Jordan, 52, also told Adelaide-based newspaper The Advertiser that she cannot do all “the basic things” with her hands, such as feeding herself, brushing her teeth, changing TV…
Read MorePhilippine central bank wants inflation firmly settled near target midpoint, governor says
THE Philippine central bank wants inflation firmly settled near the middle of its 2.0 to 4.0 per cent target range, its governor said on Tuesday. “We are hawkish, but less than before,” Governor Eli Remolona told the Reuters Global Markets Forum. Remolona said the central bank is happy where inflation is going, adding policymakers were…
Read MoreBank of Japan expected to weigh bond buying cuts as rate hike timing nears
THE Bank of Japan (BOJ) is broadly expected to discuss cutting bond purchases at a policy meeting ending on Friday (Jun 7), with some investors expecting the central bank to also lay the groundwork for raising interest rates next month. Governor Kazuo Ueda and his fellow board members will keep the policy rate in a…
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