Author: Journalist
RESIDENT employment in Singapore rose by 4,000 in Q3, reversing from a seasonal decline in Q2, driven by strong hiring in outward-oriented sectors such as information and communications, professional services, and financial services.Non-resident employment rose by 18,200, primarily due to the hiring of work-permit holders in construction and manufacturing, based on the Ministry of Manpower’s (MOM) quarterly Labour Market Report released on Monday (Dec 9).Overall, total employment increased by 22,300 in Q3, nearly double the 11,300 gain in Q2.Labour demand remained robust, with MOM noting that year-end festivities are expected to boost hiring activity.Job vacancies, however, declined to 63,400 in…
Asian markets off to a slow start The Asian session is off to a slow start, with the Nikkei up 0.19%, the ASX down 0.29%, and the KOSPI down 1.37% at the time of writing. Strength on Wall Street to end last week has not been broad-based, with only four sectors closing in the green, but that did not stop the Nasdaq and S&P 500 from edging to yet another record high. The heavy lifting was concentrated around a handful of tech stocks, notably with Tesla and Broadcom up 5.3%, while Amazon and Meta were up 2.9% and 2.4% respectively.…
Asia Open The Asian session is off to a slow start, with the Nikkei +0.19%, ASX -0.29% and the KOSPI -1.37% at the time of writing. Strength in Wall Street to end last week has not been broad-based, with only four sectors closing in the green, but that did not stop the Nasdaq and S&P 500 from edging to yet another record high. The heavy-lifting was concentrated around a handful of tech stocks, notably with Tesla and Broadcom up 5.3%, while Amazon and Meta were up 2.9% and 2.4% respectively. However, the struggle for value sectors to see any notable…
United International Holding said its CEO has died, just days after the company was listed on Riyadh’s main stock exchange.Sakhr Abdulrahman Mohammed Al-Mulhem died on Dec 6, the Saudi Arabian financial services firm said in a statement Sunday, without providing details.The company will give updates later on a new CEO, it said. United International started trading on the Saudi stock exchange on Dec 3 after its parent United Electronics, known as Extra, raised 990 million riyals ($353.57 million) by selling a 30% stake in the firm.The listing marked the latest private sector IPO in the Middle East, following fresh on the heels of…
Rarely in American politics has a new industry spent so much money, with such apparent impact, as the cryptocurrency business did in the last election. “Cryptocurrencies” like Bitcoin, are digital assets, created and maintained by networks of computers. Mystifying to some and mesmerizing to others, they’re used for transactions and as high-risk investments with potentially high rewards. At least 17 million Americans own crypto, and how the industry should be regulated in the U.S. has been the subject of much dispute. With an important piece of legislation now before Congress, perhaps it’s no surprise that big crypto companies were among…
Fresh off crypto’s success in the 2024 election and with the value of cryptocurrencies like Bitcoin and XRP soaring, Brad Garlinghouse, CEO of the crypto company Ripple, said his company has already contributed $25 million towards an industry super PAC with an eye toward the 2026 midterm elections.Crypto companies made a third of all direct corporate contributions to super PACs during the 2024 election. Of the 29 Republicans and 33 Democrats the industry backed, 85% won. Garlinghouse sees it as a major victory.”People are like, “Why did these companies come together and organize and say, ‘This matters’?” Garlinghouse said. “And…
Volatility ahead: the pros and cons The Santa Claus rally offers both opportunities and risks for traders. While its historical patterns often result in seasonal optimism and reduced trading volumes, it can also bring challenges like volatility and unpredictability, especially for newer investors. To make the most of this period, traders should employ careful strategies and risk management techniques, such as stop-loss orders, to mitigate potential downsides and navigate the market effectively. Pros Historically, the Santa Claus rally has delivered positive returns, with the S&P 500 averaging a gain of 1.3% during this period since 1950. This makes it a…
2024 has seen some massive stock rallies, as investor interest in themes such as AI has shown little sign of waning. As the year-end nears, CNBC Pro asked three fund managers what global stocks they are buying in the lead-up to 2025, as they attempt to get ahead of the curve. Here are five of their top picks: Novo Nordisk The Danish pharmaceutical company — behind the famed Ozempic and Wegovy weight loss drugs — is already popular with investors, with shares up almost 14% this year after rising over 50% in 2023. The firm remains a top pick for…
Customers stand at a cryptocurrency exchange store after Bitcoin soars above $100,000, in Hong Kong, China December 5, 2024. (Reuters photo) Bitcoin topped US$100,000 for the first time on Dec 5, jumping drastically from roughly $69,000 the day before the US presidential election about a month earlier.The sharp uptick in price has prompted investors, particularly cryptocurrency enthusiasts, to keep a close eye on what happens next in US politics. As a candidate, Donald Trump pledged to make the US the “crypto capital of the planet”. Now the president-elect even suggested the country might one day pay off its national debt…
Traders works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 2, 2024. Brendan Mcdermid | ReutersU.S. stock futures were little changed Sunday night after the S&P 500 and Nasdaq Composite posted their third straight winning week, ahead of key inflation data due out this week.Dow Jones Industrial Average futures rose by 11 points, or 0.02%. S&P 500 futures gained 0.02%, while the Nasdaq 100 futures was flat.The S&P 500 and Nasdaq closed at fresh records Friday, rising 0.96% and 3.34% for the week, respectively. The Dow was the lone laggard, closing the week…