Posts by Yurie Miyazawa
US dollar gains after stronger-than-expected services sector data
THE US dollar rose on Wednesday (Jun 5) after data showed that the services sector in the world’s largest economy rebounded in May after a contraction the month before, highlighting uncertainty surrounding the expected start of the Federal Reserve’s easing cycle later this year. The Institute for Supply Management (ISM) said that its non-manufacturing purchasing…
Read MoreBank of Canada cuts rates for first time in four years
The Bank of Canada (BOC) on Wednesday (Jun 5) trimmed its key policy rate by 25 basis points to 4.75 per cent, its first cut in four years, and said more easing was likely if inflation continued to ease. After keeping interest rates at a more than two-decade high of 5 per cent for almost…
Read MoreYangzijiang Financial enters JV with Alpha Omega Marine to acquire vessel
YANGZIJIANG Financial : YF8 0% announced on Wednesday (Jun 5) that its maritime fund entered into a joint venture with Alpha Omega Marine, a Singapore-based equity-investment vehicle specialising in maritime opportunities, to acquire a dry-bulk vessel. Christened One and Only, the 40,000 deadweight tonne Handymax vessel is scheduled for delivery in July. Such vessels typically…
Read MoreElliott pushes Softbank to buy back shares after taking stake
ELLIOTT Management has built a sizable stake in SoftBank Group and is pushing the Japanese investment firm to launch a US$15 billion buyback, according to people familiar with the matter. The US activist investor has amassed a stake worth more than US$2 billion and engaged with SoftBank executives in recent months, the people said.…
Read MoreOCBC takes HNWI banking to next level as clients grow ‘more cosmopolitan and sophisticated’: Helen Wong
AS ASIAN wealth increases, more high-net-worth individuals (HNWIs) in Asean are becoming interested in preserving their wealth across generations, said OCBC : O39 0% group chief executive Helen Wong. “HNWIs have become more cosmopolitan and sophisticated in the way that they run their investments and manage their wealth,” said Wong on the sidelines of OCBC’s…
Read MoreThai government eyes tighter grip on central bank after spat
THAI Prime Minister Srettha Thavisin’s administration is discussing ways to exert more control over the country’s central bank after repeatedly clashing with the monetary authority on economic policy, according to people familiar with the matter. One of the measures under discussion focuses on the Bank of Thailand’s (BOT) board chairman role, which will open up…
Read MoreIndia bonds still a ‘buy’ for foreign investors despite post-election policy uncertainty
India’s government bonds will continue to attract foreign flows even as a narrower-than-expected victory margin for Prime Minister Narendra Modi-led alliance could prompt a shift in policy, fund managers said. Foreign investors have piled on bonds this year and remained on the buying side on Tuesday (Jun 4), despite the unexpected election outcome hitting stocks,…
Read MoreEMA, Korea Gas Corporation ink MOU to collaborate on LNG procurement, supply chain management
SINGAPORE’S Energy Market Authority (EMA) signed a memorandum of understanding (MOU) with Korea Gas Corporation to collaborate on liquefied natural gas (LNG) procurement and supply chain management for Singapore and South Korea. As part of the partnership, the duo will “share best practices and knowledge” on procuring and managing LNG supplies. Both parties will…
Read MoreIndonesia designs agricultural commodities digital tracker in sustainability push
INDONESIA plans to set up a digital dashboard by August to track its agricultural commodities, its economics ministry said, as the world’s top palm oil exporter looks to monitor US$6.5 billion worth of products that face a new EU anti-deforestation rule. The dashboard aims to increase the transparency of the supply chain of agriculture commodities…
Read MoreSingapore April retail sales miss forecasts, fall 1.2%
SINGAPORE’S retail sales fell 1.2 per cent year on year in April, reversing from the 2.8 per cent growth posted in the month before, with most industries recording declines in sales. April’s result was below estimates by private-sector economists, who expected retail sales to grow 1.9 per cent year on year in a Bloomberg poll.…
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