Author: Admin
TOKYO :The Bank of Japan will continue raising interest rates if economic and price developments move in line with its forecasts, BOJ Deputy Governor Shinichi Uchida said, reaffirming the bank’s stance of scrutinising data in making policy decisions.The remarks largely followed his comments this month reiterating that the business mood was improving in Japan, even as U.S. tariffs weigh on exports, a sign that conditions for another interest rate hike were falling into place.”If our economic and price forecasts materialise, we will continue to raise interest rates in accordance with improvements in economic and price conditions,” Uchida told a meeting…
[WASHINGTON] Microsoft is trying to get people to talk to their computers, betting that voice and artificial intelligence software is powerful enough to make such interactions as effective as a keyboard or mouse. The world’s largest software maker on Thursday (Oct 16) introduced a set of updates to its Windows operating system, including the ability to summon Microsoft’s Copilot assistant by saying “Hey, Copilot.” In addition to a mouse and keyboard, voice “will now become the third input mechanism,” Yusuf Mehdi, Microsoft’s consumer marketing chief, said on a call with reporters.The updates, which will start arriving for Windows 11 PCs…
[SINGAPORE] PayNow merchants are not allowed to impose surcharges on customers for making such transactions.But for years, Singapore Pools has been charging a 10-cent fee for each PayNow transaction.Deputy Prime Minister Gan Kim Yong, who is also the Minister for Trade and Industry and chairman of the Monetary Authority of Singapore, said the Association of Banks in Singapore (ABS), which owns the PayNow scheme, is engaging Singapore Pools to address this practice.DPM Gan revealed this in a written parliamentary reply on Oct 14 in response to a question by Alex Yeo (Potong Pasir).Yeo had asked whether the Government was aware…
Shares of Chinese electric-vehicle company Nio rebounded Friday (Oct 17) from sharp falls a day earlier after Singapore’s sovereign wealth fund GIC sued it for allegedly inflating its revenues.The lawsuit, filed in the Southern District of New York, alleged that Nio had issued misleading statements that artificially inflated the value of its securities, causing GIC to incur “significant losses”.Nio shares were up 2.86 per cent in Singapore and 2.48 per cent in Hong Kong after midday on Friday.Its stock had dropped as much as 9.8 per cent in Singapore and 13 per cent in Hong Kong on Thursday after the…
NEW ORLEANS — NEW ORLEANS (AP) — A Louisiana judge has tossed out a key permit for a liquefied natural gas facility that won approval from President Donald Trump’s administration, ordering a state review of how the facility’s planet-warming emissions would affect Gulf Coast communities vulnerable to sea-level rise and extreme weather. Last week, a judge from Louisiana’s 38th Judicial District Court effectively halted construction of Commonwealth LNG by ordering state regulators to analyze the facility’s climate change and environmental justice-related impacts, in conjunction with the broader LNG buildout in southwest Louisiana’s Cameron Parish.Three of the nation’s eight existing LNG…
Shares in Ray-Ban maker EssilorLuxottica hit an all-time high on Friday, surging over 10 per cent after the eyewear giant’s record quarter showed sales of its Ray-Ban Meta smart glasses gaining momentum.The Franco-Italian group reported on Thursday third-quarter sales growth of 11.7 per cent from a year ago to 6.9 billion euros ($8.1 billion), beating expectations and marking its best quarterly performance ever.The AI-powered glasses contributed over four percentage points to sales growth, said Chief Financial Officer Stefano Grassi, with demand prompting EssilorLuxottica to accelerate production capacity plans for the glasses ahead of schedule.EssilorLuxottica’s shares were up 11.7 per cent…
[HONG KONG] JPMorgan Chase is in talks to rent an office project in Hong Kong’s West Kowloon area, in what could be the biggest leasing deal in the city, according to local newspaper Sing Tao.The US bank is looking to move from its existing offices in the Central and Kwun Tong districts and occupy all three towers in the Artist Square Towers development, the newspaper said, citing unidentified sources. The project, spanning 672,000 square feet in office space, is located in the West Kowloon Cultural District near a high-speed railway station to mainland China. Developed by Sun Hung Kai Properties, Artist…
As the US probes an alleged scam network, the spotlight falls on tycoon Chen Zhi and his Prince Holding Group’s Singapore links[SINGAPORE] Prince Holding Group – accused by US authorities of running scam compounds across Cambodia – counts several Singaporeans among its top executives, and had previously engaged Temasek-owned consultancy Surbana Jurong (SJ Group) for a US$16 billion coastal development project in the kingdom.Prince Holding’s founder, Cambodian citizen Chen Zhi, was charged in New York on Tuesday (Oct 14) with wire fraud and money laundering conspiracies. US authorities allege that he led the conglomerate’s operation of forced-labour scam compounds across…
Shares of Ray-Ban maker EssilorLuxottica surged more than 9 per cent in early trading on Friday after the Franco-Italian group reported better than expected quarterly revenue a day earlier, helped by strong demand for its Meta AI glasses.The eyewear giant’s stock exceeded 300 euros per share in early Paris trading, its highest price ever.
A seat at the table could unlock investment opportunities in tourism, real estate, agriculture and renewables [SINGAPORE] Folklore tells of a boy who saved a stranded crocodile. In return, the creature carried him towards the rising sun, fulfilling his dream of seeing the world. It later promised the boy a forever home, transforming into an island named Timor.History tells a bleaker origin story.Fierce contestation between colonial powers in the 16th century split the isle into two: A western half ruled by the Dutch before becoming part of Indonesia; and the eastern half controlled by the Portuguese, until their sudden exit…