Virgin Australia raises capacity
(SYDNEY) Virgin Australia is boosting passenger capacity and enlisting the help of its airline partners to carry people stranded by the extraordinary grounding of Qantas’s fleet, it said yesterday.
S’pore online market to balloon to $4.4b in 2015
WITH more Singaporeans shopping online, the online market is expected to balloon to S$4.4 billion in 2015 – from S$1.1 billion last year.
Figuring out Samsung-Apple smartphone shipment race
(NEW YORK) For the first time, Samsung Electronics shipped more smartphones in the latest quarter than tech industry darling Apple. On the surface, this may look like a big upset in a world that gives the iPhone maker adulation and outsized expectations. The real reason, however, has more to do with timing and Samsung’s variety of offerings and prices.
MDA gives game makers new facility
THE video games development scene in Singapore got a boost on Friday, with the opening of a new facility to help developers build prototypes for games.
Coming to home screens soon: 3D TV sans glasses
IN another three to five years, 3D broadcasting will be the future, where 3D Television will be in everyone’s homes, says Alain Andreoli, chief executive of Grass Valley.
HP CEO to focus on hardware
(SAN FRANCISCO) Hewlett-Packard chief executive officer Meg Whitman, who scrapped a proposal to spin off the company’s personal-computer unit on Thursday, says she has split up operational duties with executive chairman Ray Lane.
This daredevil loves volatility
WALTER Lim entered the investing world at a dangerous time – in 2008 when the collapse of Lehman Brothers threatened to bring down the global economy, not to mention leaving millions of investors burnt.
What it takes to trade in currencies profitably
SEVERAL Asian currencies have soared against the US dollar in the course of the year, led by the Taiwan dollar, Malaysian ringgit and South Korea’s won.
Proceed with care in Asian investments
Q: Asian markets are at extremely cheap levels now. Do you think it is a good time for investors to enter this market?
Get started now
THINK you can forecast where the market’s headed? Then put your skills to the test and familiarise yourself with our local stock market index, the Straits Times Index (STI), now. Simply spot the weekly closing index rate and stand to win an Apple iPod nano (16 GB) each month!
China names new faces to head three regulators
(SHANGHAI) China named new heads to three top financial regulatory posts on Saturday, the official Xinhua news agency said, the first big step in a comprehensive leadership change that will culminate when its top political leaders retire.
Saab lives on, saved by Chinese investors
(PARIS) Saab Automobile says it has won a reprieve from collapse after two Chinese carmakers agreed in principle to buy the ailing Swedish automaker just hours before it faced court action that could have led to its liquidation.
Five firms issue profit warnings over Q3 results
PROFIT warnings from listed companies have continued to stream in as the reporting season moves into its second half.
STX OSV clinches deals worth 1b krone
STX OSV Holdings, a global designer and builder of offshore and specialised vessels, said yesterday that it has secured new contracts for the construction of four platform supply vessels (PSV) for Island Offshore.
High target for PCCW’s spin-off of HKT Trust: IFR
(HONG KONG) Hong Kong’s PCCW is pressing ahead with the spin-off listing of its telecom assets at terms that will serve as a stern test of investor appetite for a new product, Thomson Reuters publication IFR reported last Saturday.
Options traders give iShares ETF a boost
(NEW YORK) Options traders are making more bets than any time since 2009 that emerging market equities will climb after valuations fell to the lowest levels in three years.
Inflows continue into emerging market funds
EMERGING market equity funds reported a second week of inflows as investors became more optimistic about a solution to the European debt crisis, according to Citigroup Inc. Funds investing in developing-nation stocks took in US$1 billion in the week ended Oct 26, Citigroup analyst Markus Rosgen wrote in a report on Friday, citing data compiled by EPFR Global.
Palladium, copper seen as good bets: BasInvest
(LONDON) Now is the time to diversify into metals such as palladium and copper as the global economy is not faring as badly as many expect and as China is likely to ease credit conditions early next year, says Ronald Wildmann of BasInvest, a Zurich-based asset manager with US$200 million in assets under management.
Market nod for GMG’s plans
NORMALLY when a company announces a rights issue, the stock price dives. In the case of GMG Global, the counter not just held steady, but has risen since last Thursday’s announcement of 1-for-1 renounceable rights.
‘Super Mario’ to head ECB from tomorrow
(MILAN) Mario Draghi, known as ‘Super Mario’ in Italy for his assured track record, takes over the European Central Bank tomorrow at a crucial moment for a eurozone confronting a make or break debt crisis.
Euro zone crisis not over, says Trichet
(BERLIN) European Central Bank President Jean-Claude Trichet said in a newspaper interview the euro zone sovereign debt crisis was not yet over and that it was too early for the all-clear signal.
Future of CDS market under severe threat
(LONDON) The future of the Credit Default Swap (CDS) market – used to hedge against the risk of a country defaulting – may be at risk if these derivative instruments do not pay out after this week’s rescue deal for Greece.
Vettel sets records on way to winning India’s first race
(NOIDA) Red Bull’s double world champion Sebastian Vettel ran away with the inaugural Indian Formula One Grand Prix yesterday for his 11th victory in 17 races this season. On a dusty and bittersweet afternoon at the new Buddh International Circuit, the 24-year-old German led every lap of the race after starting from pole position. He also set the fastest lap right at the finish.
Indonesian tin miners extend ban on exports
(JAKARTA) Fifteen tin producers in Indonesia, the largest shipper of the metal, have agreed to extend a self-imposed ban on exports until the end of the year to help boost prices, according to an executive at a smelter.
Risks remain despite Indonesian forest moratorium
(SINGAPORE) A two-year ban on new licences to clear peatlands and primary forests in Indonesia risks being undermined by the small area protected by the scheme and a host of exemptions, shows a review that calls for the programme to be revised.
Sinking deeper and deeper
MALAYSIA should take heed of the problems – the public anger, the social unrest – posed by the solutions offered to tackle rising sovereign debt in Europe. God forbid that we head that way!
Baltic dry index falls 3.5% to 3-week low
(LONDON) The Baltic Exchange’s main sea freight index, which tracks rates to ship dry commodities, fell for a third day on Friday as sluggish demand for iron ore cargoes continued to weigh on sentiment.
Private guards not seen as long-term solution to piracy
(CAPE TOWN) Privately armed merchant ships have a 100 per cent success rate against Somali pirates, experts say, but using guards is wrapped in red-tape and dogged by fears over sending hired guns to sea.
Why investors should remain vigilant
GIVEN that the Straits Times Index (STI) has now gained 377 points or 15 per cent since touching a 25-month low of 2,528 on Oct 5, the obvious question is: what next?
Leaders split on human rights appointment
COMMONWEALTH Leaders yesterday failed to agree on whether the grouping should appoint a commissioner to police violations of human rights, democratic values and the rule of law.
REC Singapore poised to face challenges ahead
RENEWABLE Energy Corporation’s S$2.5 billion integrated Singapore plant – its biggest and most efficient worldwide – remains one of the few bright spots for the Norwegian solar company which is facing a demand slump in Europe on one hand, and stiff competition from Chinese and Taiwanese rivals on the other.
Who funds – or should fund – SIAS?
THE heavy reliance of the Securities Investors Association (Singapore) or SIAS on corporate funding has long been a thorny issue, since it raises questions about the investor lobby group’s independence, especially in tackling shareholder issues linked to its corporate sponsors.
How our neighbours do it: MSWG’s funding model
JUST across the Causeway, an investor advocacy group in Malaysia has adopted a completely different model of funding from its Singaporean counterpart.
Tribunal orders Qantas, unions to resume talks
(SINGAPORE) Qantas Airways and its unions have been ordered to immediately terminate all industrial action and return to the negotiating table by an Australian labour tribunal, in the latest twist in a prolonged and bitter industrial dispute.
Investor support crucial to latest EU rescue deal
THE latest eurozone rescue bid will crucially depend on the support of global investors.
Euro deal cheers but caution reigns
THE plan to save the euro brought festive spirits to US stock markets last week but analysts warned there could yet be a few scares around Halloween.
Situation still serious but central Bangkok may be spared
(BANGKOK) Peak tides yesterday tested Bangkok’s flood defences as hope rose that the centre of the Thai capital might escape the worst floods in decades, but that was little comfort for swamped suburbs and provinces where worry about disease is growing.
Dark clouds on horizon despite EU deal: PM
PRIME Minister Lee Hsien Loong says ‘there are dark clouds on the global economic horizon’, despite the great relief that a long-awaited eurozone rescue deal brought to markets late last week.
LKY doubts durability of eurozone crisis solution
(SINGAPORE) Former prime minister Lee Kuan Yew yesterday expressed doubts over a solid resolution of the eurozone debt crisis.
Resorts World’s New York casino draws big crowds
(SINGAPORE) Malaysia’s Genting Group threw open the doors to its Resorts World New York (RWNY) casino on Friday (Saturday morning Singapore time) as thousands of eager gamblers thronged the US$830 million facility and continued to arrive in droves throughout the weekend.
World personal income tax rates stop decline: poll
(SINGAPORE) It is a sign of the times: governments around the world have kept their personal income tax rates on hold in the past year, in a bid to keep their revenues intact at a time when the world is struggling to contain a mounting debt crisis.
Three-Minute Digest
QANTAS Airways and its unions have been ordered to immediately terminate all industrial action and return to the negotiating table by an Australian labour tribunal, in the latest twist in a prolonged and bitter industrial dispute.
The right markets
In these uncertain times, should Singapore SMEs focus on the local market or seek opportunities in overseas markets with growth potential? What else can our SMEs do to grow and remain competitive?
Commodity prices jump on Europe debt deal
(LONDON) Commodity prices rallied last week after a breakthrough deal to try and resolve the eurozone debt crisis helped to ease stubborn concerns that it could spark a new global recession.
Director buying falls for third straight week; selling stays low
THE buying among directors fell for the third straight week while the selling remained very low, based on filings on the Singapore Exchange during the holiday-shortened week of Oct 24 to 28.
Portfolios regain 4% as market surges
THE worst appeared to be behind us. Last week, the Straits Times Index surged 7.1 per cent on strong volumes. In most recoveries, the blue chips would usually lead the rebound. This may explain the underperformance of our portfolios vis-a-vis the blue chip index. On average, our portfolios rebounded by just 4 per cent last week.
Euro rallies for the third week
(NEW YORK) The euro last week advanced for a third straight week against the US dollar in the longest stretch of gains since June, after European leaders agreed to a recapitalisation of banks and voluntary losses for holders of Greek debt.
Seven billionth baby cries out for action: UN chief
(UNITED NATIONS) The world’s seven billionth person will be born today into what UN leader Ban Ki Moon calls a ‘world of contradiction’ – and facing an uphill battle if it is on the wrong side of the poverty line.
Japan eyes G-20 backing to weaken soaring yen
SPECULATION is mounting that Japan will use this week’s G-20 summit in Cannes as a platform to seek the support of advanced and emerging economies for official intervention against the strong yen.
Sarkozy warns France of new economic reality
(PARIS) France’s Nicolas Sarkozy, looking drawn and dour, returned to Paris late last Thursday with a sobering message for his austerity-weary country.
China risks public backlash over bailout for Europe
(SHANGHAI) Europe has set its sights on Beijing as it tries to haul itself out of a debt crisis, but many Chinese people are asking why they should bail out wealthier nations that have lived beyond their means. With US$3.2 trillion in foreign exchange reserves and an economy that depends heavily on exports to the European Union and the United States, China has both the means and the motive to help Europe in its hour of need.
Euro deal may provide boost for eurosceptics
(STOCKHOLM) Last week’s debt deal for Europe doubles down on the concept of European integration, and could provide further ammunition for the nationalist movements that have been gaining in popularity partly as a reaction to the idea of a single Europe.
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