Posts by Nathan Pine
Singapore shares fall after Trump vows to double steel tariffs; STI down 0.1%
[SINGAPORE] Shares on the Singapore bourse ended lower on Monday (Jun 2), after US President Donald Trump said last week that he would double tariffs on steel and aluminium to 50 per cent to “even further secure” the US steel industry. The benchmark Straits Times Index (STI) fell 0.1 per cent or 4.02 points to…
Read MoreTesla not keen on local production in India, minister says
[NEW DELHI] Tesla does not want to produce cars in India, a federal minister said on Monday (Jun 2) as the government finalised its electric vehicle policy, with the EV giant’s plans currently focused on importing cars into the country. India will significantly cut import taxes for foreign automakers that pledge to invest in domestic…
Read MoreAzeus Systems shares surge 16.6% as earnings, dividends double
[SINGAPORE] Shares of Azeus Systems jumped as much as 16.6 per cent on Monday (Jun 2), after the company reported a surge in net profits. The counter hit a high of S$14.52 at 10.59 am, up S$2.07 from its closing price of S$12.45 on May 30. As at 3.20 pm, the counter had eased…
Read MoreCitigroup names Bank of America veteran Zhang as new China country head
Published Mon, Jun 2, 2025 · 01:50 PM [HONG KONG] Citigroup said on Monday (Jun 2) that it had appointed Zhang Wenjie as its new country officer and banking head for China, after the exit of its former China head in November. Zhang was also named president and executive director of Citibank China, the company…
Read MoreECB expected to cut rates again as Trump trade war rumbles on
[FRANKFURT] The European Central Bank (ECB) is expected to deliver its seventh-straight interest rate cut this week as US President Donald Trump’s volatile trade policies add to headwinds for the sluggish eurozone. Even before Trump unleashed his on-off tariff onslaught on the world, the ECB had been bringing borrowing costs down as inflation eased. Worries…
Read MoreBYD faces growing backlash over EV price war as May sales jump
[HONG KONG] BYD shares continued their plunge despite monthly sales climbing to the highest this year as the steep discounts the industry uses to entice buyers draws scrutiny from Beijing. The electric vehicle (EV) manufacturer sold 382,476 vehicles last month, including 376,930 passenger cars, according to a statement on Sunday (Jun 1). While that marked…
Read MoreGrand Venture Tech shares up 11.9% on paused Malaysian listing amid potential share offer
None of the directors or substantial holders of GVT, or their associates, have interest in the matter [SINGAPORE] Grand Venture Technology (GVT) shares soared on Monday (Jun 2) morning after the company said it would pause its proposed secondary listing in Malaysia amid a potential transaction that could lead to an offer for its shares.…
Read MoreGold prices climb on softer US dollar, Trump’s fresh tariff threat
Investors now see a 50-basis-point rate cut by the US Federal Reserve this year, starting in October Published Mon, Jun 2, 2025 · 10:01 AM [BENGALURU] Gold prices climbed on Monday (Jun 2)as US President Donald Trump threatened to double tariffs on imported steel and aluminium, while a weaker US dollar also supported greenback-priced bullion.…
Read MoreMorgan Stanley sees dollar falling 9% on slowing US growth bets
[SINGAPORE] The US dollar will tumble to levels last seen during the Covid-19 pandemic by the middle of next year, hit by interest rate cuts and slowing growth, according to predictions by Morgan Stanley. A popular gauge of the US dollar will fall around 9 per cent from current levels by around this time next…
Read MoreThailand’s stalled cash handout scheme sours voters on ruling party
[BANGKOK] Rungthiwa Pimphanit waited months for a long-promised cash handout of 10,000 baht (S$395) from Thailand’s ruling party, which she backed in 2023 elections, but now the scheme to stimulate a stalling economy has been put on ice. “I’m very disappointed and angry,” said the 34-year-old government employee from the north-eastern province of Nong Bua…
Read MoreOil advances as Opec+ supply boost vies with geopolitical risk
Published Mon, Jun 2, 2025 · 08:02 AM [SINGAPORE] Oil gained as a third straight production increase by the Organization of the Petroleum Exporting Countries and its allies (Opec+) vied with heightened geopolitical risk in Ukraine and Iran. Brent crude for August rose as much as 2.1 per cent to US$64.09 a barrel, after losing…
Read MoreLady Gaga’s Cameo In ‘Wednesday’ Confirmed As Netflix Premieres Season 2 Footage
Netflix has confirmed Lada Gaga’s cameo appearance in Wednesday‘s second season, which she shot in Ireland in one day. The news was confirmed at the streamer’s yearly Tudum event, where the first six minutes of the premiere episode also dropped (above). Her participation in the series was originally leaked in November. At the celebration, Gaga…
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