LVMH warns Chinese are curtailing travel, overseas spending
Angelina Rascouet / Bloomberg - LVMH’s deputy chief executive officer said Chinese customers have been pulling back on travel and consumer spending, indicating that a slump in demand for luxury goods may still have some way to run. “For the past three months, Chinese tourists have been travelling less and buying less” when o ...
Phillip Securities initiates coverage on dividend-focused Reit ETF trading at ‘attractive’ valuation
Young Zhan Heng - Pareits offers stable income and trades at a 20% discount to book value, says analyst
JPMorgan sees Asia deals on the horizon in volatile markets
Manuel Baigorri / Bloomberg - Dealmaking in Asia Pacific is looking pretty buoyant as companies assess the best places to allocate capital in volatile times, according to JPMorgan Chase & Co.’s head of investment banking in the region, Paul Uren. While the veteran banker and his team are measured in the outlook for transac ...
Sony says spinoff will give financial arm its own fundraising capabilities
It is the first partial spinoff by a company in Japan with a direct listing – the first in Japan in more...
Dollar rises after Trump's tariffs face court roadblock
LONDON :The dollar rose against its major peers on Thursday after a court blocked U.S. President Donald Trump from imposing import tariffs on other countries, providing some relief for the currency that has struggled this year due to trade uncertainty.The greenback gained a third of a percent agains ...
Dollar firm but rally fades after US tariff court roadblock; fiscal worries bubble
LONDON :A relief rally in the dollar faded on Thursday, with the greenback holding on to only minor gains against major peers after rallying on news that a court blocked U.S. President Donald Trump from imposing import tariffs on other countries.The initial boost to the dollar from the court ruling ...
Dollar drops as investors prepare for court battle on tariffs
NEW YORK :The dollar fell on Thursday as investors prepared for U.S. President Donald Trump to battle a U.S. trade court ruling on Wednesday that blocked most of his proposed tariffs.Senior Trump administration officials on Thursday downplayed the ruling's impact, expressing confidence it would ...
US Fed disbands climate groups studying financial stability risks
Alastair Marsh / Bloomberg - The US Federal Reserve has disbanded a number of internal groups set up to help the US central bank identify and respond to financial stability threats posed by climate change. Among those dismantled are the Supervision Climate Committee and the Financial Stability Climate Committee, which were esta ...
iWow subsidiary bags $1 mil prize funding from DBS Foundation’s inaugural eldercare innovation award
Jovi Ho - A subsidiary of Catalist-listed Internet of Things (IoT) solutions firm iWow Technology has received $1 million in prize funding from DBS Foundation under its inaugural Impact Beyond Award. The subsidiary, Buddy of Parents (BOP), offers smart home solutions that leverage artificial intelligence and ...
Sony says financial arm spin-off will secure fundraising capabilities
TOKYO: Sony's CEO said on Thursday (May 29) the spin-off of the financial services arm will secure that business its own fundraising capabilities. "It is significant that, through the spin-off, Sony (Financial Group) will secure its own fundraising capabilities while continuing to use the ...
Japan's NTT takes 8.91% stake in SBI Holdings under capital alliance deal
TOKYO :Japan's Nippon Telegraph and Telephone will invest about 110 billion yen ($755.49 million) in SBI Holdings to acquire an 8.91 per cent stake, as the two companies aim to integrate their digital technology and financial services.Under the deal, SBI said it will issue 27 million new shares ...
Nikkei ends at two-week high on US tariff relief, chip rally
[TOKYO] Japan’s Nikkei ended trade on Thursday (May 29) at the highest point in more than two weeks after a US court...
Global government issuance of US dollar debt tumbling in 2025, data shows
Governments in Asia and Europe are raising far less debt in U.S. dollars than usual, preferring to issue at home as they avoid exposure to rising U.S. yields, currency volatility and broader concerns about U.S. government finances.According to Dealogic data, issuance of dollar bonds by non-U.S. sove ...
M&S food sales show resilience despite cyberattack, says NielsenIQ
LONDON :British retailer Marks & Spencer's food business saw food sales increase 10.8 per cent over the 12 weeks to May 17 year-on-year despite the fallout from a cyberattack last month denting availability, industry data showed on Thursday.Researcher NielsenIQ said M&S' share of t ...
CLAR's $700 million acquisition is a 'fair price' with room for further rental growth
The Edge Singapore - Lock Mun Yee and Li Jialin of CGS International have kept their "add" call and $3.10 target price on CapitaLand Ascendas REIT(CLAR) after its $700 million acquisition of two properties. The first property, 9 Tai Seng Drive, is a data centre with a total NLA of 6,968 sq m and is 100% occupi ...
As listcos head for the door, are private markets the answer for investors?
Chloe Lim - The MAS announces that a proposed framework for retail private market investment funds is in the works
MAS appoints NAC chairman and NTU president to board of directors
Felicia Tan - The Monetary Authority of Singapore (MAS) has appointed Goh Swee Chen and Professor Ho Teck Hua to its board of directors. They will serve for a term of three years from June 1 to May 31, 2028. Goh is the chairman of the National Arts Council and the Nanyang Technological University (NTU) board of t ...
Stocks, dollar rally as Trump tariffs hit court roadblock
SYDNEY: Asian shares and Wall Street futures jumped in Asia on Thursday (May 29) after a United States federal court blocked President Donald Trump's "Liberation Day" tariffs from going into effect, send
Bitcoin ETFs pull in US$9 bil as investors ditch gold holdings
Sidhartha Shukla / Bloomberg - A divergence is emerging in US exchange-traded funds as investors move from gold to its so-called digital counterpart, Bitcoin. Over the past five weeks, US Bitcoin ETFs have attracted more than US$9 billion in inflows, led by BlackRock Inc.‘s iShares Bitcoin Trust ETF (IBIT). Meanwhile, gold-back ...
Musk says Tesla testing driverless Model Y cars in Austin, aiming June delivery
Tesla has been testing driverless Model Y cars in Austin, Texas and aims to deliver the first unit in June, CEO Elon Musk said on Thursday, amid buzz of an imminent robotaxi launch.Musk had said earlier this year that such a launch would start with 10 or 20 Model Y vehicles. "A month ahead of s ...
Tesla to deliver first self-driving Model Y car in June, Musk says
Tesla will deliver its first self-driving Model Y car in June, CEO Elon Musk said on Thursday.Musk said in a post on X that the electric vehicle maker has been testing self-driving Model Y cars on public streets in Austin, Texas for the past several days "with no incidents."
Toyota sales hit second monthly record on US demand, tariff rush
Japanese carmakers are heavily reliant on the US auto market and could suffer as much as a US$19 billion impact from the...
OCBC trims Seatrium's fair value to $2.76; cadence of order wins slowing
The Edge Singapore - OCBC Investment Research's Ada Lim has kept her "buy" call on Seatrium after its 1QFY2025 business update earlier this morning. While no revenue and earnings figures were provided, Seatrium allowed that margins are moving in the "right direction", says Lim, citing the manage ...
OCBC raises fair value for Boustead Singapore to $1.46 following FY2025
The Edge Singapore - Ada Lim of OCBC Investment Research has kept her "buy" call on Boustead Singaporefollowing its FY2025 earnings that was in line with expectations. While the company flagged wider economic uncertainties in the near term, Lim believes that the company is disciplined in managing costs and imp ...
NIE, Amazon Web Services set up AI-focused innovation hub for edtech research
Isabelle Chong - The two organisations have signed a three-year memorandum of understanding
Hong Kong, Saudi Arabia may approve more cross-border financial products
HONG KONG/SYDNEY :Hong Kong and Saudi Arabia are considering allowing more cross-border financial products, authorities said on Thursday, as the two markets seek to deepen financial ties amid rising trade uncertainties.An exchange-traded fund tracking bonds issued by the Saudi government started tra ...
Foxconn to soon announce second Japanese auto partner, chairman says
The Apple supplier’s interest in working with Japanese car makers comes as they face growing competition from Chinese brands
Aramco boss will keep borrowing even as oil slump cuts cash flow
Joumanna Bercetche and Anthony Di Paola / Bloomberg - Saudi Aramco is targeting more borrowings to finance growth and better leverage its balance sheet, CEO Amin Nasser said, as the world’s biggest oil exporter raised US$5 billion in bonds this week. The Saudi state oil producer needs funds to plug a gap in finances as declining free cash flow amid w ...
Google begins direct online sales of Pixel phones in India
Google on Thursday began direct online sales of its popular hardware devices in India, including Pixel phones, watches and earbuds, ahead of an anticipated launch of its first physical stores in the South Asian nation.The Alphabet-owned firm said it has for the first time enabled direct online purch ...
Sembawang EC site and mega Hougang mixed-use plot launched for tender; sites can take over 1,000 homes
Chong Xin Wei - Bids of S$600-700 psf ppr expected for EC plot; Hougang plot, with allowable GFA of over 1 million sq ft, could fetch...
Sembawang EC site and mixed-use site in Hougang launched for tender
Chong Xin Wei - Top bids to range from S$600-700 psf ppr for the EC site, and S$800-900 psf ppr for the Hougang plot
Sembawang exec condo site and mixed-use site in Hougang launched for tender
Chong Xin Wei - Top bids to range from S$600-700 psf ppr for the EC site, and S$800–900 psf ppr for the Hougang plot
Gold as a hedge against the US dollar increases with central bank buying
Goola Warden - The volatility in the 80-year-old global order caused by the Trump administration is leading the world to question the primacy of the US dollar (USD) and investors are turning increasingly into a centuries-old store of value — gold. In a report dated May 26, David A Meier, economist at Julius Baer ...
Aramco CEO will keep borrowing even as oil slump cuts cashflow
Riyadh has led a push by the biggest Opec+ producers to unwind supply cuts at a faster-than-scheduled pace, at a time when...
