US: S&P 500, Nasdaq end at fresh records after solid jobs data
[NEW YORK] Wall Street stocks surged higher on Thursday following US jobs data that topped estimates as President Donald Trump’s massive tax cut measure...
Commentary: Trump’s ‘Great Deal’ with Vietnam is no trade agreement
It’s impossible to assess the impact of President Donald Trump’s “great deal of cooperation” with Vietnam right now, beyond its clear message of the US desire for increasing decoupling from China, says US politics expert Steven R Okun.
Are China’s financial markets dead?
Daryl Guppy - Market indexes hide a multitude of errors and opportunities because they average the performance of stocks in one way or another. The fabled Dow tracks just 30 stocks. The S&P 500 is more representative, tracking 500 stocks selected based on market capitalisation, liquidity, profitability and th ...
Newly spotted comet is third interstellar object seen in our solar system
WASHINGTON :Astronomers are tracking a newly spotted comet hailing from parts unknown, only the third time such an interstellar object has been observed visiting our solar system.According to U.S. space agency NASA, the interloper - named 3I/ATLAS - was first spotted on Tuesday by an Asteroid Terres ...
US Treasury chief sees 100 countries getting 10% reciprocal tariff
WASHINGTON :About 100 countries are likely to see a reciprocal tariff rate of 10 per cent, U.S. Treasury Secretary Scott Bessent said on Thursday, adding that he expects "a flurry" of trade deals announced before a July 9 deadline that could see tariff rates increase sharply."We' ...
Trump eyes simple tariff rates over complex talks, says letters going out Friday
US President Donald Trump said he preferred to notify most countries of a specific tariff rate, skipping detailed negotiations.
Stocks hit record, US dollar strengthens after jobs data
NEW YORK :Global stocks climbed to a record for a second straight session on Thursday and the dollar rallied after a stronger than expected U.S. payrolls report indicated the labor market may not be deteriorating rapidly. The Labor Department said nonfarm payrolls increased by 147,000 jobs last mont ...
Sutskever to lead Safe Superintelligence after Meta poaches CEO Gross in AI talent war
Ilya Sutskever has taken over the reins of Safe Superintelligence (SSI), the artificial intelligence startup he launched last year, after losing CEO Daniel Gross to an intensifying talent war in the industry.Gross has joined Meta Platforms to lead its AI products division, sources told Reuters.The d ...
Retiring The Edge Singapore’s global portfolio
Thiveyen Kathirrasan - Slightly more than five years and five months ago, we recommended 10 global stocks to our readers in 10 global picks in an ‘unloved’ bull run (Issue 917, Jan 24, 2020), adding to our yearly tradition of picking local stocks for the Lunar New Year. The inception date for The Edge Singapore’s gl ...
Singapore’s energy vulnerability paradox: How board directors must navigate hidden energy risks
Lee Ooi Keong - In December 2022, Jinjja Chicken’s managing director stared at an electricity bill that had quintupled to $10,654 in a single month. His stark reaction was: “There goes all my profit.” The remark captured the existential reality facing Singapore businesses during the 2021–2022 energy crisis ...
Capital Group turns attention to global value plays
Samantha Chiew - Despite widespread investor unease and conflicting data points, Capital Group economist Jared Franz believes the US economy remains on solid footing, at least for now. However, structural challenges and inflationary pressures are starting to emerge, prompting the asset manager to shift portfolio str ...
Briefs: STI closes above 4,000 points for the first time; Trump announces Vietnam trade deal with 20% import tariff
Quoteworthy: "I don’t know, we’ll have to take a look" –— US President Donald Trump on whether he would deport billionaire Elon Musk. STI closes above 4,000 points for the first time The Straits Times Index (STI) closed above 4,000 points for the first time in history, ending July ...
US tariffs here to stay, Europe unleashes fiscal firepower: UBP
Samantha Chiew - The global economic order is undergoing a strategic reset, demanding that investors adapt. According to Norman Villamin, group chief strategist at Union Bancaire Privée (UBP), US tariffs have evolved from a trade tactic into a central pillar of Washington’s fiscal strategy. This shift has signifi ...
Government raises seller’s stamp duties on residential properties to curb rise in ‘flipping’
Jessie Lim - Duty raised to 16% for holding of 1 year or less, and drops by 4 percentage points for each additional year; SSD...
Government raises seller stamp duties on residential properties to curb rise in ‘flipping’
Jessie Lim - [SINGAPORE] The government moved to curb rising speculative buying in Singapore’s residential property market, increasing the seller’s stamp duty (SSD) rates by...
Stocks are approaching manic levels, but advisers say it's not too late to buy
Claire Ballentine / Bloomberg - In a matter of weeks, market sentiment has moved from panic to nearly manic. Back in April, recession odds were more than 50% and the stock market was in free fall. But after fears concerning the president’s trade wars and economic policy eased, stocks have return to all-time highs in record time. ...
Robotaxis are going global, with Asia their next stop
Assif Shameen - Billionaire Elon Musk’s pioneering electric vehicle (EV) maker, Tesla Inc, launched its first robotaxi service in Austin, Texas, with its Model Y on June 22. Yet, robotaxis is old news. Google’s owner, Alphabet Inc’s Waymo, has been operating driverless cabs in San Francisco, Silicon Valley an ...
Nvidia set to become world’s most valuable company in history
The company is now worth more than the combined value of the Canadian and Mexican stock markets
Q&M Dental launches inaugural $130 mil notes prices at 3.95% due 2028
Nicole Lim - Q&M Dental Group has launched its inaugural offering of its multicurrency debt issuance programme at a price of 3.95% due 2028 for $130 million notes. The series 001 notes were established on Dec 5, 2017, and are expected to be issued on July 10, 2025. The notes will be issued in registered form ...
Nvidia set to become world's most valuable company in history
Nvidia was on track to become the most valuable company in history on Thursday (Jul 2), with the chipmaker's market capitalisation reaching US$3.92 trillion as Wall Street doubled down on optimism about artificial intelligence. Shares of the leading designer of high-end AI chips were up 2.2 per ...
Mermaid Maritime raises $56.1 mil from rights issue of up to 807.62 mil shares
Nicole Lim - Mermaid Maritime Public Company has raised net proceeds of about $56.1 million from its non-renounceable non-underwritten rights issue of up to 807,616,489 new ordinary shares. The company first announced that it would be conducting a rights issue on Feb 28, 2025, for 11.8 cents for each rights shar ...
Emerging markets rise amid shifting global dynamics
Derrick Irwin and Gary Tan - Emerging markets are gaining prominence amid shifting global dynamics, presenting compelling opportunities for investors in the second half of 2025 and beyond. Factors such as a potential US-China trade deal, a weakening dollar and structural tailwinds like demographic shifts and digital transformat ...
Thoma Bravo to buy Olo in deal valuing restaurant tech firm at $2 billion
Investment firm Thoma Bravo has agreed to acquire Olo in an all-cash deal valuing the restaurant software provider at about $2 billion, the company said on Thursday. Olo shareholders will receive $10.25 per share in cash under the terms of the deal, representing a 65 per cent premium to the stock ...
Ambiq Micro files for US IPO as generative AI fuels chip demand
Chip designer Ambiq Micro on Thursday reported a 16.1 per cent rise in 2024 net sales in its filing for a U.S. initial public offering, as growing demand for generative AI fuels spending on semiconductor technology. Strong investor demand for AI-focused tech stocks is helping revive the IPO market, ...
Ambiq Micro files for US stock market listing amid AI-focused IPO revival
Chip designer Ambiq Micro filed for a U.S. stock market listing on Thursday, as strong investor demand for AI-focused technology stocks helps revive the IPO market.The move comes as the market shows signs of recovery, with investors once again warming to high-growth tech startups they had largely av ...
Dollar advances against peers following stronger-than-expected jobs data
NEW YORK :The U.S. dollar advanced against major currency pairs including the yen, euro and Swiss franc on Thursday after data showed that the U.S. economy created more jobs than analysts estimated, signaling that the Federal Reserve might take longer to cut interest rates.The dollar strengthened ...
How digital public infrastructure can help tackle our climate challenge
Yushi Nagano and Varad Pande - From scorching heatwaves to devastating floods, the climate crisis is not a distant prophecy but a lived reality for millions. The urgency demands not isolated interventions but scalable, precise solutions — fast. How do we deliver swift, targeted support to communities battered by escalating disa ...
Code of practice to help firms comply with AI rules may apply end 2025, EU says
BRUSSELS :A code of practice designed to help thousands of companies comply with the European Union's landmark artificial intelligence rules may only apply at the end of 2025, the European Commission said on Thursday.Alphabet's Google, Meta Platforms, European companies such as Mistral and ...
Code of practice to help companies with AI rules may come end 2025, EU says
BRUSSELS :Key guidance to help thousands of companies comply with the European Union's landmark artificial intelligence rules may come at the end of the year, the European Commission said on Thursday, marking a six-month delay."On the AI Act's GPAI rules, the European AI Board is disc ...
Amundi warns US stablecoin policy could destabilise global payments system
LONDON :Europe's largest asset manager has raised concerns that a boom in dollar-backed stablecoins in the wake of the United States' GENIUS Act could cause a major shift in money flows that destabilises the global payment system. The U.S. Senate passed the GENIUS Act a bill last month to ...
Indonesia says US$34 bil in trade, investment MOU with US in pipeline
Grace Sihombing / Bloomberg - The US and Indonesia will sign trade and investment pacts worth US$34 billion ($43.3 billion) as part of efforts to secure a deal on tariffs ahead of a July 9 deadline. Indonesia plans to invest in the US as well as buy agricultural goods and US$15.5 billion worth of energy products from the US unde ...
Brazilian tech services company C&M resumes operations after cyberattack
BRASILIA :Brazilian technology services provider C&M Software has resumed operations with clearance from the central bank, it said on Thursday, after reporting a cyberattack on its systems the previous day.C&M serves financial institutions lacking connectivity infrastructure. The central ban ...
Food Empire’s strong growth ahead not fully appreciated: CGSI
The Edge Singapore and Felicia Tan - Year to date, Food Empire Holdings has gained over 80% as at July 1, but William Tng of CGS International expects further upside to this stock. As a consumer staples company whose main product is three-in-one instant coffee, Food Empire is poised for stronger earnings growth with the opening of vari ...
India's ONGC signs deal with Japan's Mitsui OSK to build ethane carriers
India's Oil and Natural Gas (ONGC) said on Thursday it has signed an agreement with Japan's second-largest shipping company, Mitsui O.S.K. Lines (MOL), to build and operate two ethane carriers.