Oil rises after US says it seized tanker off the coast of Venezuela
NEW YORK, Dec 10 : Oil prices rose on Wednesday after officials said the U.S. seized an oil tanker off the coast of Venezuela, adding to prompt supply concerns.Brent crude futures rose 33 cents, or 0.5 per cent, to $62.27 a barrel by 2:21 p.m. ET. U.S. West Texas Intermediate crude futures rose 28 c ...
Oil drops as US reports smaller than expected fall in crude stocks
NEW YORK, Dec 10 : Oil prices fell on Wednesday as the U.S. government reported a smaller than expected draw in crude stocks last week, while investors watched for progress in Russia-Ukraine peace talks and awaited a decision on U.S. interest rates.Brent crude futures were down 49 cents, or 0.8 per ...
Airbus CEO concedes likely defeat to Boeing in order race this year
The planemaker remains ahead of its US rival in deliveries and the pipeline of outstanding orders
3 Keppel subsidiaries put up for voluntary liquidation
Chloe Lim - The wholly owned units are Keppel Enterprise FinHub, Keppel Enterprise Services and Keppel People Services
HG Metal to acquire stake in Malaysian steel manufacturer Eden Flame for RM18 mil
Nicole Lim - HG Metal Manufacturing has entered into a subscription agreement for 18,000,000 Class B Preference Shares in Eden Flame for RM1 per share, amounting to RM18 million ($5.68 million). Eden Flame is a Malaysian steel manufacturer with a plant in Pasir Gudang, Johor Bahru. It is targeted to commence ope ...
SGX’s November securities turnover value up 18%, driven by index stocks and Reits
Derryn Wong - Volume is 4% higher year on year, at 29.3 billion shares
Daily Debrief: What Happened Today (Dec 10)
Stories you might have missed
Air India admits compliance culture needs overhaul after flying Airbus without permit
The report is a stark admission from the airline whose Boeing Dreamliner crash in June killed 260 people
Rex International reports 10,417 boepd in Nov from Norway, Oman and Germany
Nicole Lim - Rex International has reported a production of 10,417 barrels of oil equivalent per day (boepd) in November from Norway, Oman and Germany. The group’s indirect subsidiary Lime Petroleum reported 9,408 boepd for the month. Similarly, the group’s other indirect subsidiary Masirah Oil announced a g ...
Airbus wins €50 million contract to deploy French military AI
Dec 10 - Airbus has agreed a 50 million euros ($58 million) contract to incorporate artificial intelligence developed by the French Ministerial Agency for Defence AI (AMIAD) into weapons and information systems used by the French armed forces.The contract's initial phase will focus on upgrading ...
SGX Group’s bellwether STI gain 2.2% m-o-m in Nov; y-t-d calendar gains at 19%
Nicole Lim - The Singapore Exchange Group (SGX) saw the bellwether Straits Times Index (STI) gaining 2.2% m-o-m, taking y-t-d calendar gains to 19% and total returns to 25% for November. In the month, turnover surged 18% y-o-y to $35.5 billion, the best traded value since April, according to the group. The excha ...
Coupang CEO resigns over historic South Korean data breach
The company faces a potential fine of up to one trillion won
Singapore stocks inch down ahead of Fed policy decision
Benjamin Cher - The STI ends the day flat; the iEdge Singapore Next 50 Index is 0.1% lower
Singapore stocks close flat ahead of Fed interest rate decision
Benjamin Cher - The STI ends the day flat; the iEdge Singapore Next 50 Index is 0.1% lower
ComfortDelGro obtains M1 AV licences for Punggol trial
Felicia Tan - ComfortDelGro has obtained the Milestone testing regime level 1 (M1) license for autonomous vehicles (AVs) on public roads, says the company on Dec 10. The license will enable CDG’s AVs to be able to conduct trials for its Punggol route. CDG, on Sept 20, said its autonomous shuttle service, Zig Dr ...
Another Chinese rare earth producer obtains streamlined licence for magnet exports
BEIJING, Dec 10 : Ningbo Jintian said on Wednesday it had obtained a streamlined licence to export rare earth magnet products.The new general licences are designed to allow more exports under year-long permits for individual customers, Reuters reported in early November.Reuters reported last week th ...
12,000 Marriott suppliers in Singapore, Malaysia, Indonesia to get same-day invoice financing by OCBC
Lee U-Wen - The partnership gives the hospitality group’s SME suppliers quick and seamless access to capital, and enables them to be more sustainable
HSBC set to pay about US$300 million to settle French criminal case
The full agreement would cover the fine to end the PNF case as well as the tax bill
Wingtech invites Nexperia custodians to Beijing for talks on control of the company - source
AMSTERDAM, Dec 10 : Wingtech, the Chinese parent company of Netherlands-based chipmaker Nexperia, has invited the court-appointed custodians of its Dutch unit to Beijing for talks on control of the company, a source familiar with the dispute said on Wednesday.A spokesperson for Nexperia BV confirme ...
Wingtech invites Nexperia custodians to talks on control of the company
AMSTERDAM: Wingtech, the Chinese parent company of Netherlands-based chipmaker Nexperia, said on Wednesday (Dec 10) it has invited the court-appointed custodians of the Dutch firm for talks on control of the company, a possible first step toward easing relations.Nexperia's European arm has
Nintendo sheds US$14 billion value after chip squeeze fears grow
The gaming pioneer faces rising memory costs, which threaten to impair margins for its Switch 2 console
Yen edges up after three-day losing streak, Fed meeting in focus
Dec 10 : The yen was set to snap a three-day losing streak on Wednesday after being pressured by wide interest rate differentials between Japan and the rest of the world even as its central bank is widely expected to tighten policy next week.The dollar dropped slightly ahead of a Federal Reserve de ...
US dollar retreats amid overall caution ahead of Fed decision
MILAN/NEW YORK, Dec 10 : The U.S. dollar weakened on Wednesday, erasing two days of gains, as investors trimmed positions in anticipation of an expected third consecutive interest rate cut of a quarter of a percentage point by the Federal Reserve.Investors expect the policy-setting Federal Open Mark ...
US dollar edges down vs euro and yen before Fed policy meeting
Dec 10 : The U.S. dollar edged down versus the euro and the yen on Wednesday as investors awaited the Federal Reserve policy meeting later in the day which is expected to deliver a so-called hawkish rate cut.Investors expect Chair Jerome Powell to provide some sort of restrictive guidance after anno ...
Analysts upbeat on Singapore’s office Reits, naming one ‘uniquely leveraged’ to tap rental upside
Shikhar Gupta - They name a few buy-rated stocks, and expect core CBD rents to rise
Analysts upbeat on Singapore’s office Reits, naming one ‘uniquely positioned’ to tap rental upside
Shikhar Gupta - They name a few buy-rated stocks, expecting core CBD rents to rise
Hopes are for impact investing to fill funding gaps in Asia – but less attractive returns are an obstacle
Vivien Ang - Barriers to growth in the region’s sector include fragmented deal flow and the perception of high risks
US plans to mandate social media checks for visa-free visitors, including those from Singapore
The plan is the latest in a series of measures from the Trump administration aimed at restricting entry
US plans to mandate social media checks for visa-free visitors
The plan is the latest in a series of measures from the Trump administration aimed at restricting entry
Intel loses challenge against EU antitrust ruling but wins reduced fine
BRUSSELS, Dec 10 : U.S. chipmaker Intel lost its challenge against a 376 million euros ($438 million) EU antitrust fine imposed two years ago for thwarting rivals but gained some solace as Europe's second-highest court slashed the penalty by a third on Wednesday.The European Commission, which a ...
EU court cuts Intel's EU antitrust fine
BRUSSELS, Dec 10 : Europe's second-highest court on Wednesday rejected U.S. chipmaker Intel's challenge against a 376 million euros ($438 million) EU antitrust fine imposed two years ago for thwarting rivals, but cut the fine by 140 million euros."An amount of 237,105,540 euros is a m ...
Indonesia pushes back on Bali’s plan to ban Airbnb rentals
Regulators will instead encourage owners of villas and guest houses to get proper licences
South Korea to require advertisers to label AI-generated ads
SEOUL: South Korea will require advertisers to label their ads made with artificial intelligence technologies from next year as it seeks to curb a surge of deceptive promotions featuring fabricated experts or deep-faked celebrities endorsing food or pharmaceutical products on social media.Following ...
Asian utilities slow to confront climate risk
Kenneth Lim - ASIA might need to grow up when it comes to protecting its power sector against climate-related loss and damage, a new report...
