Hoi Hup-Sunway joint venture tops bids for Tampines mixed-use site with S$668.3 million or S$1,004 psf ppr bid
Samuel Oh - A MIXED-USE site in Tampines saw firm interest from developers when a state tender closed on Thursday (Sep 19), with a Hoi Hup Realty-Sunway Developments joint venture putting in the highest bid of S$668.3 million or S$1,004 per square foot per plot ratio.
GenZero, Gold Standard, Rwanda sign collaboration agreement on Article 6 carbon credit projects
Jovi Ho - Temasek’s decarbonisation-focused investment subsidiary GenZero has signed a collaboration agreement with carbon credit certification body Gold Standard, the Rwanda Green Fund and the Rwanda Environment Management Authority (REMA) to work together on developing a pipeline of Article 6-compliant ca ...
China yuan closes at near 16-month high on rising stimulus hope
CHINA’S yuan recovered all intraday losses on Thursday (Sep 19) to close near a 16-month high against the US dollar, underpinned by rising market expectations that Federal Reserve’s easing offered Beijing leeway on its own monetary policy.
F1 may turbocharge SGX and S-REITs
Nirgunan Tiruchelvam - Christmas comes early to Singapore this year. The streets around the Padang are lined with barricades. This has been done to create a smooth flow for the Formula One (F1) drivers this weekend. Racing cars will not be the only thing that is flowing in Singapore. The privileged few that are attending ...
OCBC downgrades SIA to ‘hold’ with unchanged FV of $6.84 on ‘less attractive’ risk-reward
Douglas Toh - OCBC Investment Research’s Ada Lim has downgraded her call on Singapore Airlines C6L (SIA) from “buy” to “hold” at an unchanged fair value of $6.84. “We think that SIA is nearing the end of the runway for exceptionalism, given that passenger yields are likely to have peaked and are on a ...
'Size of cuts less important than end goal': JP Morgan on Fed rate cuts
Nicole Lim - The size of the interest rate cut is perhaps less important than the end goal, says JP Morgan’s global market strategist, Kerry Craig. Instead, the message from the US Federal Reserve (US Fed) in its Sept 19 decision to cut interest rates by 50 basis points (bps) is more about a cautious approac ...
IBF awards scholarships, honours industry veterans at 50th anniversary gala
Jovi Ho - Financial professionals in Singapore can look forward to more training in sustainable finance and generative AI (GenAI), as part of a refreshed suite of “future-enabled skills” launched by the Institute of Banking & Finance Singapore (IBF) and its industry workgroups. This will help compleme ...
Swiss watch industry warns of weakness even as exports rise
SWISS watchmakers warned of a worsening outlook for the industry, even as exports rose last month on demand for expensive timepieces made of precious metals.
Taiwan leaves interest rates unchanged, raises GDP forecast
TAIPEI: Taiwan's central bank held its policy interest rate unchanged while raising its growth estimate for the year on Thursday (Sep 19), asserting the need for vigilant monetary policy even as inflation gradually eases but remains a lingering concern. The central bank left the benchmark disco ...
CNA Explains: What does a Fed rate cut mean for you in Singapore?
The decision by the US Federal Reserve is set to have far-reaching implications beyond America, from influencing monetary policies, financial markets to consumer mortgages and saving rates around the world.
India to buy more second-hand vessels to raise container capacity
INDIA will purchase more second-hand vessels to add to the country’s container shipping capacity, two senior shipping officials said on Thursday (Sep 19) after talks with multiple ministries to cut transportation costs and increase exports.
US Federal Reserve rate pivot expected to drive outsized gains in Asian assets
ASIAN assets could have better earnings prospects and more room to benefit from easing than their global peers, after the US Federal Reserve’s shift to interest rate cuts.
US Federal Reserve rate pivot seen driving outsized gains in Asian assets
ASIAN assets could have better earnings prospects and more room to benefit from easing than their global peers, after the US Federal Reserve’s shift to interest rate cuts.
AlShaya Starbucks franchise stake sale talks on hold, sources say
DUBAI/LONDON : The sale of a stake in the Middle East, North Africa and central Asia Starbucks franchise operated by Kuwait's AlShaya Group is on hold, two people with knowledge of the process said. Boycotts and geopolitical unrest in the region continue to impact the franchise, hindering bidde ...
Green bonds aren’t driving new climate action in the US: study
Bloomberg - Almost all green bonds issued in the US fail to drive real action to tackle climate change, undermining the merits of a global market that’s grown to more than US$3 trillion ($3.88 trillion), according to a study. An analysis of the first green bonds sold by corporate and municipal issuers between ...
Japan walkie-talkie maker says investigating after Lebanon blasts
JAPANESE firm Icom said on Thursday (Sep 19) that it was investigating after media reported that two-way radio devices bearing its logo exploded in Lebanon.
BofA now expects Fed to go for 75-bp cut in Q4 after bumper rate reduction
BOFA Global Research raised its forecast for the Federal Reserve’s anticipated interest rate cuts for the remainder of this year to 75 basis points, after the US central bank kicked off a widely expected series of reductions on Wednesday (Sep 18).
Dollar edges lower after Fed goes big on rate cut, Aussie jumps
:The U.S. dollar edged lower on Thursday after a larger than usual interest rate cut from the U.S. Federal Reserve that had been priced in by markets.The Fed on Wednesday kicked off its monetary easing cycle with a half-percentage-point rate cut that Chair Jerome Powell said was meant to show policy ...
Dollar edges lower in choppy trading after Fed rate cut
NEW YORK :The U.S. dollar edged slightly lower in choppy trading on Wednesday as markets grappled with the supersized 50 basis point interest rate cut as well as the switch to an easing monetary policy stance delivered by the Federal Reserve.Investor expectations had largely shifted towards a dovish ...
🚨 You’ve been PIP-ed! Now what?
Chloe Lim - Being put on a performance improvement plan (PIP) at work can feel like the end of the world to some. But the reality is that it doesn’t have to be so bleak.
Alibaba accelerates AI push by releasing new open-source models, text-to-video
CHINESE technology company Alibaba released on Thursday (Sep 19) new open-source artificial intelligence models and text-to-video AI technology, intensifying its efforts to compete in the booming area of generative AI.
HSBC cuts key Hong Kong rate for the first time since 2019
Bloomberg - HSBC cut its key benchmark rate in Hong Kong for the first time since 2019, a move likely to hit margins while bringing relief to homeowners and borrowers in the Asian financial hub. HSBC cut its best lending rate to 5.625% from 5.875% in Hong Kong, according to a statement. It was followed shortly ...
Indonesia's tax agency probes alleged personal data breach
INDONESIA’S tax agency is investigating an alleged data breach that exposes the taxpayer identification numbers of millions of Indonesians, including President Joko “Jokowi” Widodo, his ministers and his two sons, an official said.
What to buy as the Fed saves the day
Goola Warden - The local market already rallied in anticipation of a rate cut by the US Federal Reserve. At the Federal Market Open Committee meeting on Sept 18, the Fed announced a cut that shaves 50 basis points (bps) off the federal funds rate of 5.25%—5.5%. The 10-year US Treasury yield ended at 3.62% on Sep ...
Asian currencies hit 14-month high as US Fed slashes interest rates
Bloomberg - Asian currencies advanced to the strongest level in more than a year after the Federal Reserve kicked off policy easing and signaled further reductions this year. The Bloomberg Asia Dollar Index rose 0.2% on Thursday, bringing the gauge to the highest since July 2023. The Chinese offshore yuan, Kore ...
Fed’s rate pivot seen driving outsized gain in Asian assets
Bloomberg - The Federal Reserve’s shift to interest rate cuts bodes well for Asian assets as many are underowned, and have better earnings prospects and more room to benefit from easing than their global peers. Money managers and strategists say the central bank’s decision to lower its benchmark by 50 basis ...
Hong Kong probe finds Cathay Airbus defect could cause 'extensive' damage
AN ENGINE defect in the Airbus A350 plane that led to the cancellation of dozens of Cathay Pacific flights in early September could have escalated into “extensive damage”, according to the results of a Hong Kong probe released on Thursday (Sep 19).
What the US Fed rate cuts mean for your money
Bloomberg - Rotating away from technology stocks. Trimming cash. Peeking at opportunities in the housing market. This is some of the advice coming from financial advisers now that the Federal Reserve has lowered interest rates for the first time in more than four years, cutting its benchmark rate by a half perc ...
S’pore, US swap gap set to narrow as MAS policy shift nears
Bloomberg - Singapore’s unusual approach to monetary policy will give traders a chance to profit from a narrowing gap between the local currency and US dollar interest-rate swaps. The difference between two-year overnight indexed swap rates in the two currencies is near the tightest level in more than a year, ...
Waymo in talks with Hyundai Motor to produce self-driving taxis: report
ALPHABET’S Waymo is in talks with South Korea’s Hyundai Motor to outsource manufacturing of its self-driving vehicles, South Korean newspaper, Electronic Times, reported. Officials at Waymo and Hyundai Motor have met more than three times to discuss a plan to use Hyundai’s Ioniq 5 electric veh ...
Britain is back and ‘open for business’, says trade policy minister on boosting economic ties
Southeast Asia, in particular, is a “huge commercial market” for the UK, says British Trade Policy Minister Douglas Alexander.
Vietnam removes pre-funding rule for foreigner investors in bid for market upgrade
VIETNAM will remove a requirement for full pre-funding on equity transactions of foreign investors from Nov 2, its finance ministry said, the country’s latest effort to boost the chances to be reclassified as an emerging market.
Vietnam removes pre-funding rule for foreigners in bid for market upgrade
VIETNAM will remove a requirement for full pre-funding on equity transactions of foreign investors from Nov 2, its finance ministry said, the country’s latest effort to boost the chances to be reclassified as an emerging market.
Hong Kong probe reveals Cathay Airbus engine failure due to ruptured fuel hose
A probe by Hong Kong's aviation accident investigation agency revealed Cathay Pacific's Airbus A350 engine failed in-flight due to a damaged fuel hose which also showed signs of a fire, the agency's report stated on Thursday.Hong Kong's Air Accident Investigation Authority (AAIA) ...
