Robust dry bulk market drives ship recycling to decade-low
Tay Peck Gek - ONLY 45 dry bulk ships have been recycled between January and August 2024 – 42 per cent lower year on year and the second-lowest level in 16 years, according to trade group Bimco.
Singapore’s semicon sector should embrace AI, sustainability; prepare for quantum future
Renald Yeo - SINGAPORE’S semiconductor industry is being shaped by two major trends: the rise of artificial intelligence (AI) and the nation’s push for sustainability, said Desmond Tan, senior minister of state in the prime minister’s office.
US: Wall St opens higher as markets anticipate Fed's first rate cut in four years
WALL Street’s main indexes opened slightly higher on Wednesday (Sep 18), as the Federal Reserve was widely expected to deliver its first interest rate cut in more than four years, with most investors betting on a 50-basis point reduction.
DBS launches new award that supports businesses tackling ageing issues with S$1m in funding
The new award will hand out S$1 million each to three businesses that have the most innovative solutions for issues associated with ageing populations.
Creative Technology appoints Tan Jok Tin as non-executive and independent director
Ashley Lo - Creative Technology has appointed Tan Jok Tin as a non-executive and independent director of the group, with effect from 18 Sept. Prior to his appointment, Tan presently serves as an independent director of SuSing Fund Management, which he was appointed on Aug 23, 2023. Tan also holds the role o ...
US mortgage rates drop to two-year low ahead of Fed rate cut
US MORTGAGE rates declined last week to the lowest level since September 2022 in anticipation of Federal Reserve interest-rate cuts, stoking an influx of applications for home purchases and refinancing.
New Silkroutes ex-director jailed over market-rigging scheme allegedly masterminded by Goh Jin Hian
A FORMER finance director of Singapore-listed New Silkroutes Group was sentenced to 12 weeks in prison on Monday (Sept 16) after pleading guilty to manipulating its share prices to allow its shares to be used as consideration for corporate deals.
Google urges tribunal to throw out $9.3 billion UK lawsuit over search 'dominance'
LONDON : Google parent Alphabet on Wednesday asked a London tribunal to throw out a mass lawsuit that accuses the tech giant of abusing its dominance in the online search market.The lawsuit – valued at up to 7 billion pounds ($9.3 billion) – is the latest case focusing on the business practices ...
Flagging investor interest may make 2024 a fine vintage year for private markets
Joan Ng - WEAKER sentiment has lowered asset valuations in some parts of the private markets, suggesting that now is a good time to invest. Experts caution, however, that because of the way private market funds call capital and invest it, a consistent allocation strategy works better than trying to time the m ...
Singapore Institute of Advanced Medicine Holdings to release its results by Oct 29
Ashley Lo - Singapore Institute of Advanced Medicine Holdings has been granted an extension by the Singapore Exchange S68 Regulation (SGX RegCo), in a bourse filing dated Sept 18. On Aug 16, the group filed an application for the extension, through its Continuing Sponsor, PrimePartners Corporate Finance, to t ...
US dollar cedes ground to yen ahead of Fed decision
THE US dollar surrendered some of its overnight gains against the yen on Wednesday (Sep 18), as investors tweaked their positions ahead of a policy meeting expected to initiate a US easing cycle.
More family offices deploy into risk assets on rising optimism: Citi
Tan Nai Lun - MORE family offices (FOs) worldwide are shifting their portfolios to risk assets from cash, amid optimism about the outlook for their one-year portfolio performance.
Family offices in Asia Pacific record the highest shift towards public equity: Citi report
Cherlyn Yeoh - There have been significant portfolio shifts from cash to risk assets this year among family offices (FOs), with 68% of those in Asia Pacific increasing their allocations into public equity, the highest percentage compared to other regions. According to Citi’s Global Family Office Survey 2024, FOs ...
How 7-Eleven can get a big price from Circle K
Chris Hughes - EVERYONE agrees the takeover battle for the Japanese owner of 7-Eleven is a watershed moment that could prove the Tokyo market is now open to foreign acquirers. But for that to happen, the fate of Seven & i Holdings should be determined by the price of any bid, not the politics. And the convenience ...
ZICO Capital appointed as IFA for Dyna-Mac's offer
Ashley Lo - ZICO Capital has been appointed as the independent financial advisor for Hanwha Group's offer for Dyna-Mac, according to a bourse filing on Sept 18. On Sept 11, Hanwha made an offer of 60 cents for the shares it does not own in Dyna-Mac. The offer price represents a 21.2% premium to the Mainb ...
Eurozone inflation not where ECB wants it to be, Bundesbank chief says
EUROZONE inflation is still not as low as the European Central Bank would like, so interest rates need to remain sufficiently high to resolve price pressures, Bundesbank president Joachim Nagel said on Wednesday (Sep 18).
Indonesia, Britain sign collaboration agreement on critical minerals
JAKARTA : Britain on Wednesday signed a memorandum of understanding to collaborate on critical minerals with Indonesia, home to some of the world's largest mineral resources, the UK's embassy in Jakarta said.The agreement will support policy dialogue, sharing of technical knowledge and exp ...
Taiwan’s US$4 billion takeover battle hits snag with rejection of financial firm’s bid
SHARES of Taiwan’s CTBC Financial Holding gained and Shin Kong Financial Holding’s fell after a bid to create the island’s biggest financial group was blocked.
Bridgewater’s Dalio and Singapore’s GIC chief cautious on global outlook
RAY Dalio, founder of the world’s largest hedge fund, and Lim Chow Kiat, the boss of Singapore’s sovereign wealth fund GIC, are increasingly cautious on the year ahead due to political risk and uncertain global growth prospects.
LMIRT enters rental scheme agreements to expand on-grid PV solar power installation
Ashley Lo - The manager of Lippo Malls Indonesia Retail Trust D5IU (LMIRT) has announced that the REIT has entered into rental scheme agreements with PT Investasi Hijau Satu, a renewable energy company specialising in rooftop solar photovoltaic (PV) panels in Indonesia. Under these agreements, on-grid PV solar ...
Proposals on the way to tackle manpower, regulatory and other challenges hobbling Singapore businesses
Renald Yeo - AS SINGAPORE’S businesses struggle with manpower shortages, uncertain land leases, and complex regulatory frameworks, a public-private partnership is working to tackle these challenges – with a report outlining recommendations set to be released by the end of the year.
Meta closes deal to buy up to 3.9 million carbon credits in Latin America
SAO PAULO : Facebook owner Meta agreed to buy up to 3.9 million carbon offset credits from Brazilian investment bank BTG Pactual's forestry arm through 2038, the companies said on Wednesday in a statement. They did not disclose the value of the deal. The average price for forestry carbon offse ...
Singpost clarifies reports on potential sale of its Australian business
Ashley Lo - Singapore Post Limited (Singpost) has issued a clarification on articles regarding a potential sale of its Australian business, as reported in the Australian press. On June 21, the group announced that Singpost appointed Merrill Lynch Markets Australia as financial advisor to formulate optionaliti ...
Daily Debrief: What Happened Today (Sep 18)
Stories you might have missed
Boeing and striking union to resume talks on Wednesday
CONTRACT talks between Boeing and its largest union restart on Wednesday (Sep 18), with federal mediators present, the International Association of Machinists and Aerospace Workers said.
Boeing, striking union set to resume contract talks on Wednesday
CONTRACT talks between Boeing and its largest union will restart on Wednesday (Sep 18), with federal mediators present, the International Association of Machinists and Aerospace Workers said.
Fund giants aim to bring private markets to retail investors – but mind the risks
Genevieve Cua - OVER the past couple of years, the private lending segment of unlisted assets has garnered much attention, along with the rest of private assets. What’s not to like? At a time when banks are constrained in their lending, private debt can be a lifeline for companies.
Singapore stocks break seven-day winning streak; STI ends flat
Yong Jun Yuan - SINGAPORE shares fell very slightly on Wednesday (Sep 18), on the eve of an expected cut to interest rates by the Federal Reserve.
Metech appoints former Keppel Land president Ng Ooi Hooi as independent director
Ashley Lo - Catalist-listed Metech International V3M has appointed Ng Ooi Hooi as independent director of the group, with effect from Sept 18. Additionally, Ng will also be appointed as the Chairman of the remuneration committee, as well as a member of the audit committee and nominating committee, according ...
EU court trims Qualcomm fine to 238.7 million euros
AN EU court on Wednesday (Sep 18) largely upheld an antitrust fine against US chip making giant Qualcomm but reduced the penalty slightly to 238.7 million euros (S$343.8 million).
UOB is positive on quality global stocks, says investors should seek opportunities beyond mega-cap US tech
Cherlyn Yeoh - Investors need to consider their investment horizon and risk tolerance level in order to determine the right mix of assets in their investment portfolio, says Abel Lim, UOB head of wealth management advisory and strategy. One’s investment horizon can be determined by an investors’ financial goal ...
Market Focus Daily: Wednesday, September 18, 2024
Job market worsens for retrenched workers, but Singapore’s overall labour market remains robust in Q2; Vietnam seeks Singapore’s help as more firms here found linked to convicted tycoon Truong My Lan; Indonesia’s central bank delivers surprise 25 bps rate cut.
Disney’s India unit seeks US$940 million in damages from Zee Entertainment
WALT Disney’s Indian unit has sought US$940 million in damages from Zee Entertainment, after the Mumbai-based broadcaster defaulted on payment for TV rights of cricket matches.
Singapore banks to implement Singpass face verification for digital token setup
Nurdianah Md Nur - Singapore's major retail banks will gradually introduce Singpass Face Verification (SFV) for the digital token setup process over the next three months. SFV will be activated in high-risk cases to bolster existing authentication methods for digital token setup, according to a joint press releas ...
