Posts by Yurie Miyazawa
IEA sees ‘major’ oil supply surplus emerging by 2030
The world is likely to have a “major surplus” of oil by 2030 as production is ramped up while the clean energy transition tempers demand, the International Energy Agency (IEA) said in an annual report published on Wednesday (Jun 12). Global demand is expected to “level off” at 106 million barrels per day (bpd) towards…
Read MoreSouth Korean AI chip developers Rebellions and Sapeon to merge
SOUTH Korean AI chip developers Rebellions and Sapeon Korea are pursuing a merger, Sapeon parent SK Telecom said on Wednesday (Jun 12), in the latest attempt in South Korea to challenge global AI chip leader Nvidia as a boom in artificial intelligence continues. The consolidation is aimed at winning the global AI semiconductor market within…
Read MoreJohor Plantations, Kulim eye biggest Malaysian IPO in two years
MALAYSIAN palm oil producer Johor Plantations Group (JPG) and a shareholder expect to raise about RM735 million (S$211 million) in an initial public offering (IPO), putting the group on track to execute the country’s biggest listing in over two years. JPG kicked off its IPO on Wednesday (Jun 12) with an offering of up to…
Read MoreAustralian wine exports to China rocket after Beijing drops tariffs
AUSTRALIAN wine makers shipped wine worth A$86 million (S$77 million) to China in the month after Beijing lifted tariffs and should be confident of bumper sales going forward, the trade minister said on Wednesday (Jun 12). Australia exported wine worth US$800 million to China in the year to November 2020, when Beijing blocked imports, collapsing…
Read MoreAsia: Markets stutter as investors fret ahead of US releases
WORRIES about upcoming US inflation data and the Federal Reserve’s outlook for interest rates permeated Asian trading floors on Wednesday, while the euro continued to struggle owing to political uncertainty in Europe fuelled by shock EU election results. While a surge in Apple helped Wall Street reach another record, investors are growing increasingly nervous that…
Read MoreGold dips on firmer dollar; US inflation data, Fed policy eyed
GOLD prices edged lower on Wednesday (Jun 12), weighed down by a stronger US dollar, as investors awaited key US inflation data and the Federal Reserve’s updated interest rate projections due later in the day. Spot gold was down 0.2 per cent at US$2,311.80 per ounce, as at 0128 GMT. US gold futures rose 0.1…
Read MoreSouth Korea’s jobs growth cools to slowest pace since 2021
SOUTH Korea’s labour market showed signs of cooling in May as employment growth slowed to its slowest pace in more than three years, a weak outcome that may support the case for authorities to consider adjusting policy. The number of new jobs increased by 80,000 in May, compared with 261,000 a month earlier, according to…
Read MoreGoogle to test anti-theft AI feature for phones in Brazil
ALPHABET’S Google said on Tuesday (Jun 11) that Brazil will be the first country to test an anti-theft feature for Android phones that uses artificial intelligence (AI) to identify when a phone has been stolen and lock the device’s screen. Three types of lock will be available in the initial test phase. In one of…
Read MoreTesla shareholder sues Musk to return billions in alleged unlawful profits
ELON Musk made billions of dollars by selling Tesla stock using insider information, an institutional shareholder accused in a lawsuit filed on Tuesday, asking the court to direct the Tesla CEO to return “unlawful profits.” The lawsuit comes two days before a critical vote by Tesla shareholders on whether to reinstate Musk’s US$56 billion pay…
Read MoreNFTs fail to regain appeal as investors turn to new Ether ETFs
MANY investors are betting that Bitcoin and Ether will set fresh highs this year, but there’s one corner of the cryptocurrency market that is getting the cold shoulder: non-fungible tokens (NFTs). The tokens, better known as NFTs, which can be digital artwork of apes or other collectibles recorded on blockchains, are losing even more of…
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