Posts by Liam Redmond
Ever Glory order book tops S$900 million on LTA, RWS contract wins
[SINGAPORE] Ever Glory United announced on Monday (May 18) that it has secured about S$230 million in new contracts, pushing the group’s total order book past S$900 million. The latest contracts are for projects by the Land Transport Authority (LTA) and Resorts World Sentosa. Besides the latest additions to the order book, Ever Glory pointed…
Read MoreSingapore stocks end higher amid mixed regional showing; STI up 0.2%
[SINGAPORE] Singapore stocks closed higher on Monday (May 18), with a mixed performance in regional markets amid escalating geopolitical tensions and a surge in oil prices. The benchmark Straits Times Index (STI) gained 0.2 per cent or 7.67 points to finish at 4,996.75. ST Engineering led the gainers on Singapore’s blue-chip index, rising 4.1 per…
Read MoreEx-CDL director Kwek Leng Peck rejoins board, six years after resigning over disagreements
He is the cousin of executive chairman Kwek Leng Beng and will be appointed vice-chairman [SINGAPORE] In October 2020, City Developments Ltd (CDL) non-executive and non-independent director Kwek Leng Peck resigned from his post following a disagreement with the board and management on the group’s investment in a Chinese property group and the management of…
Read MoreAI has invaded the L.A. mayor’s race. Some fear it’s just the beginning
The Hollywood sign is ablaze as Spencer Pratt, the reality TV star now running for mayor of Los Angeles, suits up as Batman, enters City Hall and leads the people to overthrow a cabal of corrupt, out-of-touch progressives intent on destroying the city. Then he is Luke Skywalker. Dressed in a Jedi robe, he swoops…
Read MoreTech leaders funding Matt Mahan’s campaign for California governor say it’s not about tech
San José Mayor Matt Mahan’s run for California governor has been defined from the start by his donor list. Mahan entered the race late and with little statewide name recognition, but catapulted into contention thanks to massive funding from billionaire tech titans, venture capitalists, cryptocurrency investors and other Silicon Valley elites. In a state with…
Read MoreIkea franchiser slashes 850 jobs in cost-cutting drive as consumer spending falls
Published Mon, May 18, 2026 · 05:02 PM [LONDON] Inter Ikea, which franchises the Swedish budget home furniture brand in 63 countries, is laying off 850 workers in a cost-cutting drive as consumer demand falls and the blue big-box retailer works to become more efficient and bring down prices. The vast company manages the sourcing…
Read MoreGrab, Sea lean on affordability, subscriptions to defend growth amid macroeconomic headwinds
Even as consumer spending comes under pressure, both companies have maintained their 2026 guidance Source link
Read MoreGlobal energy shock tests Philippine bank resilience
Lenders are switching to a defensive stance as new central bank relief measures begin to bite [MANILA] After posting a strong start to 2026, the Philippines’ top lenders are bracing for a potential earnings hit as analysts warn new energy crisis relief measures from the central bank could weigh on interest income. The scenario reveals…
Read MoreTrump’s Q1 trades include Nvidia, Apple, Amazon and a US$600 million sushi chain
The filing shows the US president or his investment advisers made more than 3,700 trades in the first quarter Published Mon, May 18, 2026 · 03:13 PM [NEW YORK] Among US President Donald Trump’s trades in the first quarter were stock market behemoths including Nvidia, Amazon.com and Apple. He also took a stake in a…
Read MoreHSBC to lend US$4 billion to help China clean tech scale globally
The bank will extend credit terms, streamline credit approvals and develop tailored solutions for eligible companies Published Mon, May 18, 2026 · 02:05 PM [LONDON] HSBC launched a dedicated US$4 billion credit facility on Monday (May 18) to support the global expansion of mainland Chinese companies involved in sustainable and transition technologies including clean power,…
Read MoreSamsung Electronics, union hold last-ditch talks to avert strike threatening global supply chains
A walkout by more than 45,000 workers could hit the country’s economy and disrupt global supply chains Published Mon, May 18, 2026 · 01:38 PM [SEOUL] Samsung Electronics and its labour union started talks on Monday (May 18) in a last-ditch bid to avert the biggest strike in the tech giant’s history, amid concern that…
Read MoreIndonesia rupiah hits new record low; president downplays day-to-day impact of currency weakness
The central bank has also been intervening in the foreign exchange market to support the exchange rate Published Mon, May 18, 2026 · 12:26 PM [JAKARTA] The Indonesian rupiah slid to a fresh record low on Monday (May 18) as stocks slumped and global oil prices hit two-week highs, while the president said that the…
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