The firm's core business incurred an operating loss of $16 million in the 2022/2023 financial year. Read more at straitstimes.com.
From his Eunos Road headquarters, Singapore Post group chief executive officer Vincent Phang often glances out of his window to watch the Republic of Singapore Air Force’s F-15s and F-16s rumbling low overhead as they come in to land at Paya Lebar Air Base.
The former flight engineer has scaled-down models of these warplanes on his desk. From his days as the second man in the F-16 cockpit, he knows that every time an aircraft touches down without incident, it is considered a good landing.Easy access any time via ST app on 1 mobile deviceResend verification e-mail
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What are the 3 factors that steered SG markets in 3Q23?\u003Cp\u003E\u003Cstrong\u003EIn 3Q23, the STI generated a 2.1% total return.\u003C/strong\u003E\u003C/p\u003E\n\u003Cp\u003EThe Straits Times Index (STI) outpaced the FTSE ASEAN Extended 60 Index with a total return of 2.1% in 3Q23.\u003C/p\u003E\n\u003Cp\u003EAccording to the SGX, the increase in Brent crude oil prices, high rates, as well as slower growth outlook contributed to the total returns generated in 3Q23.\u003C/p\u003E\n\u003Cp\u003E“Fueled by the announcement by Saudi Arabia and Russia to extend their voluntary oil production cuts through the end of this year, Brent crude oil gained 27% to US$95/bbl in 3Q23, and has since returned to near US$90/bbl ahead of OPEC\u0027s Joint Ministerial Monitoring Committee,” the SGX said.\u003C/p\u003E\n\u003Cp\u003ESingapore’s three most traded energy stocks – Rex International, Geo Energy Resources and RH Petrogas – averaged 29% in total returns in 3Q23 on the back of the oil price rally in September. \u003C/p\u003E\n\u003Cp\u003EThe US Federal Reserve’s decision to keep rates higher for longer in 2024 also steered the market during the quarter.\u003C/p\u003E\n\u003Cp\u003E“With the firming of the higher for longer rate outlook, 3Q23 saw less ‘FedSpeak fever’ and less day-to-day swings in the forward expectations of FOMCs and the Federal Funds Rate than seen in 2Q23,” the SGX said.\u003C/p\u003E\n\u003Cp\u003EMeanwhile, the slower 2024 global growth also affected the markets in 3Q23.\u003C/p\u003E\n\u003Cp\u003E“Manufacturing is highly sensitive to global growth outlooks, with Singapore’s Industrial Production in contraction since October 2022, in addition to contracting by 6.6% YoY in the first eight months of 2023,” SGX said.\u003C/p\u003E\n\u003Cp\u003E“The iEdge SG Adv Manufacturing Index generated a 0.5% decline in total return in 2023, bringing its 9-month decline in total return to 1.8%,” it added.\u003Cbr /\u003E\n \u003C/p\u003E
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Stocks climb in calm before potential US payrolls stormSINGAPORE : A lull in bond selling stretched into Asia trade on Friday, but may not last the day as investors waited on U.S. jobs data that could add to the case for keeping interest rates high for some time.Sliding oil prices have also provided some relief to markets, with Brent crude futures at $84.50 a
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Global bond funds post massive weekly outflows on rate hike concernsGlobal bond funds faced huge outflows in the week to October 4, driven by concerns over sustained high interest rates because of elevated inflation levels and a robust U.S. economy. U.S. job openings unexpectedly increased in August, pointing to a still-tight labour market that could compel the Federal Re
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The ripple effects of high COE prices, beyond driving up the cost of new carsPersistently rising premiums have impacted motor traders, car owners and private hire drivers, among others. Read more at straitstimes.com.
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