Posts by Liam Redmond
Ship insurers cancel war risk cover due to Iran conflict
Several tanker owners, oil majors and trading houses have since suspended shipments through the narrow waterway Published Mon, Mar 2, 2026 · 02:10 PM [SINGAPORE] Several marine insurers said that they are cancelling war risk cover for ships due to the conflict in Iran and the Gulf. Insurers, including Gard, Skuld, NorthStandard, the London P&I…
Read MoreToku reports higher FY2025 losses driven by IPO costs, sees commercial momentum ahead
[SINGAPORE] Artificial intelligence (AI)-powered customer experience platform Toku reported a 72.7 per cent increase in losses in FY2025 to US$9.1 million from US$5.3 million in the prior year. The company, which listed on the Catalist board on Jan 22, reported a 9.3 per cent rise in FY2025 revenue to US$34.8 million from US$31.8 million in…
Read MoreJack Dorsey’s 4,000 job cuts at block arouse suspicions of AI-washing
The company’s recent history suggests that AI adoption is not the only factor influencing its staffing decisions [NEW YORK] When Block laid off nearly half its staff this week, co-founder Jack Dorsey offered a seemingly simple explanation: artificial intelligence (AI) was allowing the company to do more with fewer employees. The announcement, though, landed at…
Read MoreGeely extends lead over BYD with biggest sales gap since 2022
Published Mon, Mar 2, 2026 · 12:46 PM CHINESE automaker Geely Automobile Holdings sold more vehicles than BYD for a second consecutive month, piling pressure on the latter to beef up its lineup and reignite waning demand for electric vehicles (EVs). In the first two months of this year, Geely delivered about 76,000 units more…
Read MoreBlackstone’s CEO took home a near-record US$1.24 billion in 2025
The payday underscores how the biggest alternative asset managers have insulated themselves from a rough spell in private equity Published Mon, Mar 2, 2026 · 12:19 PM [NEW YORK] Blackstone chief executive officer Steve Schwarzman took home US$1.24 billion last year, just shy of his record US$1.27 billion in 2022. He collected US$1.1 billion in…
Read MoreTravel chaos worsens as Iran conflict shuts key Middle East airports
The extensive suspension of all air services will severely disrupt the finely-tuned choreography of global aircraft movements Published Mon, Mar 2, 2026 · 12:03 PM [DUBAI] Travel chaos extended through the Middle East and beyond, sending airline stocks sharply lower on Monday (Mar 2), as carriers across the Persian Gulf extended blanket flight suspensions, causing…
Read MorePost selling One Raffles Place, OUE Reit should divest other assets and be wound up, or be privatised
Post selling One Raffles Place, OUE Reit should be privatised or divest the rest of its properties [SINGAPORE] As investor interest in local equities rises, boards of listed entities need to be proactive in optimising value for investors. Kudos to the board of directors of OUE Real Estate Investment Trust ’s (OUE Reit) manager for…
Read MoreIntermediaries see shift to fixed income ahead of rate cuts, eye new markets for growth: BOS survey
Alternative investments and exchange-traded funds are also expected to see more demand [SINGAPORE] Fixed-income solutions are set to see the strongest growth in demand among clients of financial intermediaries, as investors lock in yields ahead of anticipated rate cuts, found a new survey by the Bank of Singapore (BOS). A third of the 90 senior…
Read MoreAsian markets open lower after US-Israel strikes on Iran; spot gold rises by 1.7%
Iran is preparing for a “crushing retaliation”, according to a Reuters report on Saturday, such that reconciliation with the West is not in sight [SINGAPORE] Asia markets declined at market open on Monday (Mar 2), after the latest US-Israel attacks on Iran over the past weekend. It comes after a 12-day air war in June…
Read MoreOil spikes as widening Iran crisis disrupts flows through Strait of Hormuz
Published Mon, Mar 2, 2026 · 08:00 AM OIL surged by the most in four years, as the US-Israeli war against Iran plunged the global crude market into turmoil, with the effective closure of the Strait of Hormuz. Brent rallied as much as 13 per cent to above US$82 a barrel – the highest level…
Read MoreSafe-haven yen and Swiss franc gain as weekend Iran strikes unnerve markets
Trading was thin late on Sunday European time, but deals in major currency pairs can set the tone Published Mon, Mar 2, 2026 · 07:04 AM [LONDON] The safe-haven Swiss franc and Japanese yen firmed, while the euro slid as trading resumed after a weekend that saw the United States and Israel launch their most…
Read MoreShipping lines cut Mideast routes posing risk to trade flows
Published Mon, Mar 2, 2026 · 05:58 AM [DUBAI] The world’s largest container carriers are rerouting ships to avoid the Persian Gulf, as a widening military conflict pitting the US-Israeli alliance against Iran threatens to disrupt global merchandise trade. MSC Mediterranean Shipping, the top container line, halted cargo bookings for the Middle East while No…
Read More