EU to impose 3 euro duty on small e-commerce parcels from July 2026
BRUSSELS, Dec 12 : European Union finance ministers agreed on Friday to set a 3 euro ($3.52) custom duty on low-value parcels arriving in the bloc, part of an attempt to crack down on cheap Chinese e-commerce imports such as from online retailers Shein and Temu.The duty will apply from July 1, 2026, ...
Pakistan allows Binance, HTX to start process of applying for crypto exchange licences
KARACHI, Dec 12 : Pakistan has given initial clearance for Binance, one of the world's largest crypto exchanges, and HTX, a digital-asset platform, to register with regulators, set up local subsidiaries and begin preparing full exchange licence applications, the virtual assets authority said on ...
Pakistan to allow Binance to explore 'tokenisation' of up to $2 billion of assets
KARACHI, Dec 12 : Pakistan has signed a memorandum of understanding with crypto exchange Binance to explore the "tokenisation" of up to $2 billion in sovereign bonds, T-bills and commodity reserves to boost liquidity and attract investors, the finance ministry said on Friday.Separately, Pa ...
Analysis:Oracle-Broadcom one-two punch hits AI trade, but investor optimism persists
NEW YORK, Dec 12 : The red-hot trade backing artificial intelligence-related stocks has taken a bruising from back-to-back troubling updates from Oracle and Broadcom, reigniting concerns about frothy valuations and an AI bubble.Still, investors say reasons for optimism about AI remain intact, and ma ...
Analysis:Oracle's stumble hits AI trade, but many remain bullish
NEW YORK, Dec 12 : The red-hot trade backing artificial intelligence-related stocks has taken a bruising from a disappointing report from Oracle, reigniting concerns about frothy valuations and an AI bubble.Still, investors say reasons for optimism about AI remain intact, and many are wary about cal ...
Analysis:Musk's Mars mission adds risk to red-hot SpaceX IPO
WASHINGTON, Dec 12 : Investors eyeing SpaceX's potential blockbuster IPO may need to brace themselves as CEO Elon Musk balances his risky quest to reach Mars with growing the revenue-rich Starlink satellite broadband business that would offer more reliable shareholder returns. SpaceX, which tr ...
Daily Debrief: What Happened Today (Dec 12)
Stories you might have missed
OUE Reit secures S$100 million unsecured loan facility
Derryn Wong - Proceeds will be used for capital expenditure, working capital and general funding purposes
Singapore stocks gain more ground on Friday; STI up 1.5%
Benjamin Cher - Jardine Matheson is top performer on benchmark index, rising 4.9% to US$69.94
Analysts flag risks for Strategy at Nasdaq's 100 index reshuffle
Dec 12 : Bitcoin hoarding giant Strategy may be at risk of being removed from the Nasdaq 100 index at its annual reshuffle on Friday, amid questions over its business model that have weighed on its share price, some analysts flagged this week. After a sizzling rally that pushed its market capitaliza ...
Analysts flag risks for Strategy at Nasdaq 100 index reshuffle
(Refiles to say Nasdaq 100, not Nasdaq's 100, in headline)By Shashwat ChauhanDec 12 : Bitcoin hoarding giant Strategy may be at risk of being removed from the Nasdaq 100 index at its annual reshuffle on Friday, amid questions over its business model that have weighed on its share price, some an ...
US dollar edges higher after recent losses; sterling falls after GDP data
LONDON/NEW YORK, Dec 12 : The U.S. dollar drifted higher against major currencies on Friday after falling in recent sessions, but was still set for its third straight weekly drop amid the prospect of interest rate cuts by the Federal Reserve next year.Sterling also eased after data showed the UK eco ...
Dollar rises as traders digest Fed meeting, sterling eases after GDP
LONDON, Dec 12 : The dollar edged higher on Friday but was still set for its third straight weekly drop, hurt by the prospect of rate cuts next year, while sterling eased after data showed the UK economy unexpectedly shrank in the three months to October.The dollar index, which measures the U.S. cur ...
Dollar set for weekly decline after Fed meeting, sterling steadies as economy shrank
LONDON, Dec 12 : The dollar steadied on Friday but was still set for its third straight weekly drop, hurt by the prospect of rate cuts next year, while sterling was also unchanged after data showed the UK economy unexpectedly shrank in the three months to October.The dollar index, which measures the ...
US dollar advances after recent fall; sterling dips after GDP data
NEW YORK, Dec 12 : The U.S. dollar rose against major currencies on Friday after falling in recent sessions, but was still on track for its third straight weekly drop amid the prospect of interest rate cuts by the Federal Reserve next year.Sterling also eased after data showed the UK economy unexpec ...
Singapore government gazettes site at 38 Oxley Road as a national monument
Sharon See - Founding prime minister Lee Kuan Yew’s former residence is owned by his youngest son, Lee Hsien Yang, who had submitted a written...
Australia unveils rescue bid for Rio Tinto's Tomago aluminium smelter
“If Australia doesn’t produce aluminium, then the knock-on effect in other industries is significant,” warns Prime Minister Anthony Albanese
China is set to deliver another lacklustre economic report card
The numbers to be released on Monday are expected to show retail sales rising 2.9% in November from a year earlier, matching...
From stealing electricity to heat shielding: Why some go to great lengths to mine Bitcoin
Deon Loke - In spite of its price swings, the digital currency remains attractive enough for some miners to break the law to obtain it
ST Engineering’s US subsidiary named in lawsuit over UPS plane crash
Young Zhan Heng - The lawsuit alleges negligence in maintenance checks by ST Engineering subsidiary VT San Antonio Aerospace
ST Engineering’s US unit named in lawsuit over UPS plane crash
Young Zhan Heng - Lawsuit alleges negligence in maintenance checks by ST Engineering subsidiary VT San Antonio Aerospace
ST Engineering’s US unit among defendants in UPS plane crash lawsuit
Young Zhan Heng - Lawsuit alleges negligence in maintenance checks by subsidiary VT San Antonio Aerospace
Five debt hotspots in the AI data centre boom
LONDON, Dec 12 : As AI fever has propelled global stocks to record highs, the data centres needed to power the technology are increasingly being financed with debt, adding to concerns about the risks.A UBS report last month said AI data centre and project financing deals surged to $125 billion so fa ...
Foxconn to invest US$510 million in Kaohsiung headquarters in Taiwan
[TAIPEI] Foxconn, the world’s largest contract electronics maker, said on Friday (Dec 12) it will invest US$509.94 million to build its Kaohsiung...
CGSI sticks with ‘add’ but cuts TP, JPMorgan downgrades to ‘neutral’ for SCI after Alinta deal
Lin Daoyi - CGS International (CGSI) analysts Lim Siew Khee and Meghana Kande are maintaining their ‘add’ call for Sembcorp Industries (SCI), albeit with a reduced TP of $7.77 from $8.02, after the company announced its acquisition of Australia’s Alinta Energy for A$5.6 billion ($4.8 billion). They believ ...
RHB maintains ‘buy’ call and 85 cents target price for HRnetGroup
Kwan Wei Kevin Tan - RHB Bank Singapore analyst Alfie Yeo has maintained his “buy” call and 85 cents target price for the Asia-based recruitment agency, HRnetGroup. According to Yeo, HRnetGroup is attractive because of its “strong cashflow generation abilities and net cash balance sheet.” “With growth anticipa ...
French Interior Ministry's e-mail servers hit by cyber attack, minister says
PARIS, Dec 12 : The French Interior Ministry's e-mail servers were the target of a cyber attack this week, Interior Minister Laurent Nunez said on Friday, adding an investigation was under way."There has been a cyber attack. An attacker was able to access a number of files ... there is no ...
Ringgit hits three-year high against Singdollar, four-year high versus greenback
Shikhar Gupta - It is Asia’s best-performing currency this year as Malaysia’s robust macro fundamentals drive optimism for unit
Foxconn to invest $510 million in Kaohsiung headquarters in Taiwan
TAIPEI, Dec 12 : Foxconn, the world’s largest contract electronics maker, said on Friday it will invest T$15.9 billion ($509.94 million) to build its Kaohsiung headquarters in southern Taiwan.That would include a mixed-use commercial and office building and a residential tower, it said. Constructi ...
Nippon Steel aims for 100 million tons annual global crude steel capacity by 2030
TOKYO, Dec 12 : Nippon Steel, Japan's biggest steelmaker, expects its global crude steel production capacity to rise to 100 million metric tons per year or more by 2030, it said on Friday.In June, Nippon Steel closed a $15 billion deal to buy U.S. Steel and pledged to invest $11 billion, to be ...
Exclusive-BOJ to pledge more rate hikes at next week's policy meeting, sources say
TOKYO, Dec 12 : The Bank of Japan will likely maintain a pledge next week to keep raising interest rates, but stress the pace of further hikes will depend on how the economy reacts to each increase, said three sources familiar with its thinking.Markets have almost fully priced in the chance of a rat ...
Broadcom shares fall as margin warning sparks AI payoff worries
Dec 12 : Broadcom shares fell nearly 6 per cent before the market open on Friday after the chipmaker warned growing sales of lower-margin custom AI processors were squeezing profitability, sparking worries that the business may be less lucrative.The warning on margin impact deepened investor jitters ...
AI bellwether Broadcom shares fall 5% a day after results
LONDON, Dec 12 : Broadcom shares dropped 4.7 per cent in Frankfurt on Friday a day after the company projected first-quarter revenue above Wall Street estimates, but said margins would fall due to a higher mix of AI revenue. That fall was broadly in line with its U.S. after-hours move. Broadcom ha ...
Broadcom falls as margin pressures add to AI payoff jitters
Dec 12 : Broadcom shares fell nearly 5 per cent before the market open on Friday after the chipmaker said its margins would fall due to a higher mix of AI revenue, adding to worries about the payout from AI.Investor optimism over the nascent technology has recently cooled amid bubble concerns, wipin ...
