Daily Archives: September 18, 2018








  • Gold prices edged higher on Monday, reclaiming the key $1,200-level amid renewed fears over an escalating trade war between the world’s two largest economies. Comex gold futures were up $2.00, or 0.2%, at $1,203.10 a troy ounce by 9:00AM ET. Meanwhile, spot gold was trading at $1,200.08 per ounce, up $5.80, or 0.5%.
  • Crude prices edged higher on Monday, as looming U.S. sanctions on Iran are widely expected to lead to a tighter market. Brent crude futures, the benchmark for oil prices outside the U.S., rose 69 cents, or 0.9%, to $78.78 a barrel by 9:35AM ET. New York-traded WTI crude futures added 48 cents, or 0.7%, to $69.27 a barrel. The sanctions, which from November will include Tehran’s oil exports, are being reinstated after U.S. President Donald Trump pulled out of the Iran nuclear deal earlier this year.
  • Coffee producers are seeking urgent meetings with major customers such as Nestle, Jacobs Douwe Egberts and Starbucks (NASDAQ:SBUX) to find ways to shore up prices that have slid to 12-year lows. The World Coffee Producers’ Forum, whose members account for about 85 percent of global production, held a press conference on Monday after meeting to discuss the price crisis.



  • Turkish companies will no longer be required to count foreign-currency losses when assessing whether to file for bankruptcy, according to a legal change introduced at the weekend, a move that could dent productivity by propping up unhealthy companies. The move is the latest government measure to help companies squeezed by a sell-off in the Turkish lira this year, and highlights the difficulty firms, and banks, face in what analysts say is likely to be a wave of debt restructuring.
  • The International Monetary Fund has held productive meetings with Argentina aimed at revamping the country’s standby loan agreement, the IMF said on Monday, while the government prepares to send its 2019 budget bill to Congress. The measure is expected to include new spending cuts aimed at erasing Argentina’s primary fiscal deficit next year. In June the government signed a $50 billion standby deal that included a fiscal shortfall of 1.3 percent of gross domestic product.
  • The U.S. Federal Reserve said on Monday that Richard Clarida has been sworn in as a member of its board of governors and as vice chairman, the second most powerful position at the central bank. The oath of office was administered by Fed Chairman Jerome Powell on Monday, the Fed said in a statement. Clarida had been confirmed by the Senate late last month.




Singapore Stock Watch: STI down 0.63%

Singapore Stock Watch:
The Straits Times Index (STI) finished 20.02 or 0.63% lower at 3,141.40.

The FTSE ST Mid Cap Index slipped – 2.84%, while the FTSE ST Small Cap Index plunged 0.67%.

The best dynamic stocks were DBS, which plunged 0.30%, Singtel, which shut unaltered, Genting Sing, which slipped 0.10%, and UOB, which fell 0.28%.

OCBC Investment Research noticed that US stocks shut lower, with the S&P 500 and the Dow snapping multiday win streaks, as President Donald Trump arranged to declare extra levies on Chinese imports while China implied at another round of striking back.

Seven out of eleven areas in the S&P 500 files shut higher, driven by Real Estate (0.49%) and Consumer Staples (0.35%) while Information Technology (- 1.40%) and Consumer Discretionary (- 1.27%) drove the misfortunes.

“The misfortunes on Wall Street medium-term will serve little motivation for the neighborhood markets and henceforth we expect a quieted execution,” OCBC Investment Research said.

Sembcorp secures 20-year sun based power bargain for Facebook’s Singapore activities

They will introduce near 900 sun based boards in Singapore housetops from 2018 to 2020.

Sembcorp Industries (Sembcorp) anchored a 20-year contract to give privately sourced sun oriented vitality to help Facebook’s 170,000 sq m Singapore server farm and its different tasks inside the Lion City, a declaration uncovered.

Through the arrangement, Sembcorp will serve Facebook’s sustainable power source needs by giving offsite sun powered boards totalling 50 MWp in limit that will be introduced on near 900 housetops in Singapore, between the finish of 2018 and 2020.

“As our reality moves towards renewables and bring down carbon vitality, there is an expanding interest for arrangements that empower organizations to accomplish development while dealing with their effect on the earth,” Sembcorp gather president and CEO Neil McGregor said.

The agreement includes the offer of 100% of the sustainable power source characteristics from the surplus power produced by the association’s 50 MWp of sun based boards.

“This assention speaks to our initial move towards supporting our Singapore Data Center and nearby workplaces with 100% sustainable power source,” Facebook head of worldwide vitality Bobby Hollis said. “We are excited to have Sembcorp as our accomplice on this task and eager to see the proceeded with speeding up in the development of the sustainable power source advertise in Singapore.”

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