Posts by Swedan Margen
Stocks to watch: DBS, Singtel, ST Engineering, UOL, SGX, Food Empire, Prime US Reit, Soilbuild Construction
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jul 10): DBS, Singtel, ST Engineering: The Singapore bank, telecommunications giant and defence technology company, respectively, were among the top performers in Temasek’s Singapore-based portfolio companies in the past year. They were a key factor in boosting its net portfolio…
Read MoreHong Kong Jockey Club to unload US$1 billion in Blackstone, Warburg funds
[HONG KONG] The Hong Kong Jockey Club is divesting as much as US$1 billion in funds held with Blackstone and other buyout firms, offloading US assets amid escalating trade tensions that have intensified since Donald Trump’s presidency. The Jockey Club, which operates the finance hub’s horse racing monopoly and is one of the city’s biggest…
Read MoreAustralia takes another step toward a central bank digital currency
Published Thu, Jul 10, 2025 · 08:29 AM [SYDNEY] Australia’s central bank said on Thursday it was taking another major step toward a wholesale central bank digital currency (CBDC) with a range of industry partners pursuing projects using real money and assets for the first time. The Reserve Bank of Australia said its “Project Acacia”…
Read MoreBarclays hires sales trader in Hong Kong after pullback
[HONG KONG] Barclays hired Joseph Lee from HSBC Holdings as head of high-touch equity sales trading for Asia-Pacific as the UK bank ramps up staffing after exiting the business almost a decade ago. The senior move follows the addition of Paul Johnson from Goldman Sachs in January as head of equities for the region, and…
Read MoreAI chip startup Groq discusses US$6 billion valuation, The Information reports
Published Thu, Jul 10, 2025 · 07:37 AM US semiconductor startup Groq has spoken to investors about raising between US$300 million and US$500 million at a US$6 billion post-investment valuation, The Information reported on Wednesday, citing people with knowledge of the matter. The company is seeking the cash to fulfill a recently inked deal with…
Read MoreIndia plans to kickstart rare-earth output to cut China reliance
[NEW DELHI] A proposed plan by India to spur local production of rare-earth magnets has drawn initial interest from a clutch of large conglomerates, sources familiar with the matter said, as the country seeks to cut its reliance on China for these vital electric vehicle (EV) and wind turbine materials. The Indian government is planning…
Read MoreSamsung’s bet on foldable phones faces major test with slimmer new model
[SEOUL] Samsung Electronics on Wednesday unveiled thinner, lighter new foldable phones as it aims to fend off Chinese competition in the higher-margin, premium segment that remains untapped by arch rival Apple. The stakes are high. The South Korean company lost its global smartphone crown to Apple in 2023, and faces growing competition from Chinese rivals like Huawei…
Read MoreOpec bars five leading news organisations from oil conference
[LONDON] Organization of the Petroleum Exporting Countries (Opec) has excluded five of the world’s leading news organisations from covering its biennial oil seminar in Vienna, attended by the group’s ministers and senior industry executives. The Opec did not accredit Bloomberg News, despite repeated requests, and offered no explanation for its decision. The New York Times,…
Read MoreNvidia becomes first company to reach US$4 trillion in value
[NEW YORK] Nvidia became the first company to touch US$4 trillion in market value on Wednesday, a new milestone in Wall Street’s bet that artificial intelligence will transform the economy. Shortly after the stock market opened, Nvidia vaulted as high as US$164.42, giving it a valuation above US$4 trillion. The stock subsequently edged lower, ending…
Read MoreMicrosoft touts US$500 million AI savings while slashing jobs
[NEW YORK] Microsoft is keen to show employees how much artificial intelligence (AI) is transforming its own workplace, even as the company terminates thousands of personnel. During a presentation this week, chief commercial officer Judson Althoff said AI tools are boosting productivity in everything from sales and customer service to software engineering, according to a…
Read MoreOil steady on strong petrol demand, Red Sea attacks while Trump tariffs loom
[HOUSTON] Oil prices were steady on Wednesday as investors weighed strong US petrol demand data and attacks on shipping in the Red Sea, while US copper tariffs loomed. Brent crude futures settled up 4 cents, or 0.06 per cent, to US$70.19 a barrel. US West Texas Intermediate crude settled up 5 cents, or 0.07 per cent, to…
Read MoreEurope: Shares close at four-week high on banks boost; US trade talks in focus
EUROPEAN shares closed at a four-week high on Wednesday, with banks the biggest boost as investors awaited signs of progress on a trade accord between the United States and the European Union. The pan-European Stoxx 600 index rose 0.78 per cent to 549.96, its highest close since June 12. Italy’s bank-heavy benchmark jumped 1.6 per cent to its…
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