Posts by Liam Redmond
Woh Hup Engineering JV wins S$326 million LTA contract for Downtown Line extension
The contract includes work for two mainline tunnels and a tunnel link to Gali Batu Depot [SINGAPORE] The Land Transport Authority (LTA) has awarded the first civil contract for the second extension of the Downtown Line to a joint venture (JV) between Woh Hup Engineering and Underground Technology Construction. The contract is valued at S$326…
Read MoreJapan’s Nikkei falls back from record as yen rallies, tech shares retreat
[TOKYO] Japan’s Nikkei share average fell back from a record high on Thursday, as the yen’s rebound weighed on exporters and a red-hot rally in technology shares lost steam. The benchmark Nikkei 225 Index slid 1 per cent to 53,820.46 by the midday break, snapping a three-day surge that took the gauge to an all-time…
Read MoreLucid set to start manufacturing cars in Saudi Arabia in 2026
The company has also struggled more broadly with profitability and production challenges [RIYADH] Lucid Group is on track with plans to start producing cars in Saudi Arabia as it looks to drive the kingdom’s ambitions to create a domestic auto manufacturing hub and cut down on imports. The electric vehicle (EV) maker, which counts Saudi…
Read MoreJPMorgan, Brookfield see deals revival for clean energy assets
The IEA forecasts renewable energy, particularly solar, to grow faster than any other major source of electricity generation to 2035 [SINGAPORE] Clean energy projects are poised for a revival in mergers and acquisitions (M&A) activity on the strengthening outlook for electricity demand and as expectations on asset valuations converge, according to some of the sector’s…
Read MoreNets blow fourth-quarter lead to lowly Pelicans as losing streak hits five
The Pelicans are the worst team in the NBA. But the Nets were the worse team Wednesday. Brooklyn blew a 12-point lead — and an eight-point fourth-quarter cushion — to fall 116-113 before a crowd of 16,201 at Smoothie King Center. After playing well last month, the Nets (11-27) have struggled since the calendar flipped.…
Read MoreHSBC, Prudential in US$220 million funding for Hong Kong’s WeLab
The fintech has over 70 million individual users and more than 700 enterprise customers [HONG KONG] Hong Kong-based fintech firm WeLab has secured US$220 million from investors including HSBC Holdings and Prudential Hong Kong in its largest round of funding. The financing comprised both debt and equity. Other investors include Fubon Bank (Hong Kong), Hong…
Read MoreBHP, Rio Tinto are joining forces to boost iron ore pipeline
Miners are trying to balance growth against capital discipline, and are increasingly looking at ways to squeeze efficiencies out of existing infrastructure [MELBOURNE] BHP Group and Rio Tinto Group, the world’s two biggest mining companies, are poised to join forces in Australia’s Pilbara iron ore hub to produce up to 200 million tonnes of the…
Read MoreTrump backs Venezuela staying in Opec
[WASHINGTON] President Donald Trump said on Wednesday that he believes it would be better for Venezuela to remain in the Organization of the Petroleum Exporting Countries, or Opec, but added he was unsure if that would be a better situation for the United States. “Well, I think it’s better for them if they do it,” Trump said in a…
Read MoreTish Cyrus admits to ‘self-medicating’ with weed after ‘tragic’ Billy Ray divorce
Tish Cyrus admitted to “self-medicating” with weed after her “tragic” divorce from Billy Ray Cyrus and the death of her mom, Loretta Finley. “I’ve been very open that I was a major weed smoker,” she told host Tay Lautner during her appearance on Wednesday’s episode of “The Squeeze” podcast. “I’ve always had a little bit…
Read MoreGold slips as profit-taking, softer geopolitical tone hit safe-haven demand
Analysts say worries of Fed independence and regarding trust in US assets have added to safe-haven demand for bullion [BENGALURU] Gold slipped on Thursday (Jan 15) as investors booked profits after three consecutive sessions of record highs, while an apparent softer tone from US President Donald Trump on the Federal Reserve chair and Iran dampened…
Read MoreWells Fargo misses profit estimates on severance costs, shares fall
WELLS Fargo missed analysts’ profit estimates in the fourth quarter on Wednesday, after it booked US$612 million in severance expenses as part of CEO Charlie Scharf’s effort to streamline operations, sending the bank’s shares lower. Its shares closed down 4.6 per cent at US$89.25, recording its biggest one-day percentage loss in six months. The bank…
Read MoreVanessa and Kai Trump dress to the nines for Tiger Woods’ lavish 50th birthday bash
Vanessa and Kai Trump were spotted dressed to the nines for Tiger Woods’ massive 50th birthday bash. The lavish soirée — said to be taking place at luxury Florida resort The Breakers on Wednesday — counted Vanessa, 48, and Kai, 18, among the high-profile guests. In exclusive snapshots obtained by Page Six, the ex-wife of…
Read More