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CNA938 Rewind - Singapore v Australia at opening of World Aquatics Championships

CNA938 Rewind - Singapore v Australia at opening of World Aquatics Championships

CNA10-07-2025
CNA938 Rewind - Business Adaptation Grant; How far can a $100,000 go?
Singapore will launch a new Business Adaptation Grant capped at $100,000 per company with a co-funding element in October. The grant will cover businesses that export to or operate in overseas markets and are affected by tariffs, as well as those which need help with reconfiguration costs, including logistics and inventory holding costs. Daniel Martin learns more from Jeff Ng, Head of Asia Macro Strategy, Sumitomo Mitsui Banking Corporation.
CNA938 Rewind - From Wimbledon to Fukuoka: Inside Ascott's Gan Hup Tan's Holiday Highlights
In 'Destination Anywhere', Melanie Oliveiro finds out about the holidays of Gan Hup Tan, Vice President (Marketing, Loyalty & Partnerships) at The Ascott Limited. Tan will highlight trips to France, England and Japan. In France, he'll recall going to Roland Garros - the French Open in May, visiting the museum Centre Pompidou for its unique architecture, and savouring must-eat bites & meals. In England, Tan will talk about going to Wimbledon for lawn matches, spending hours at the Seven Dials neighbourhood at Covent Gardens and grabbing a cup of java at Monmouth Coffee. And as for Japan, Tan will talk about Fukuoka city – known as the home of the tonkotsu ramen and Tenjin, an area where there's fun to be had at some Christmas markets.
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Japan alarmed over recent FX moves, its finance minister says
Japan alarmed over recent FX moves, its finance minister says

CNA

time7 minutes ago

  • CNA

Japan alarmed over recent FX moves, its finance minister says

TOKYO :Japan's Finance Minister Katsunobu Kato said on Friday that its authorities have been alarmed over recent foreign exchange moves, after the yen fell to four-month lows against the dollar. "As we have consistently stated, it's important for currencies to move in a stable manner reflecting fundamentals. We have been alarmed over foreign exchange movements, including those driven by speculators," Kato said at a press conference. The yen fell to 150.89 per dollar on Friday, the lowest since March 28. Bank of Japan Governor Kazuo Ueda said in a news conference on Thursday that current foreign exchange levels are unlikely to have an immediate major impact on its inflation outlook, a comment that currency traders perceive as the central bank's tolerance to the yen's current weakness.

Asian shares fall as US unleashes fresh tariffs, jobs data up next
Asian shares fall as US unleashes fresh tariffs, jobs data up next

CNA

time34 minutes ago

  • CNA

Asian shares fall as US unleashes fresh tariffs, jobs data up next

SYDNEY :Asian shares fell on Friday after the U.S. slapped dozens of trading partners with steep tariffs, while investors anxiously await U.S. jobs data that could make or break the case for a Fed rate cut next month. Late on Thursday, President Donald Trump signed an executive order imposing tariffs ranging from 10 per cent to 41 per cent on U.S. imports from dozens of countries and foreign locations. Rates were set at 25 per cent for India's U.S.-bound exports, 20 per cent for Taiwan's, 19 per cent for Thailand's and 15 per cent for South Korea's. He also increased duties on Canadian goods to 35 per cent from 25 per cent for all products not covered by the U.S.-Mexico-Canada trade agreement, but gave Mexico a 90-day reprieve from higher tariffs to negotiate a broader trade deal. Taiwan's President Lai Ching-te said the rate is "temporary" and is expected to be reduced further once a deal is reached. "At this point, the reaction in markets has been modest, and I think part of the reason for that is the recent trade deals with the EU, Japan, and South Korea have certainly helped to cushion the impact," said Tony Sycamore, analyst at IG. "The market now, I think, has probably taken the view that these trade tariff levels can be renegotiated, can be walked lower over the course of time." MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7 per cent, bringing the total loss this week to 1.8 per cent. South Korea's KOSPI plunged 3 per cent while Taiwanese shares fell 0.9 per cent. Japan's Nikkei dropped 0.4 per cent. Chinese blue chips were flat and Hong Kong's Hang Seng index eked out a small gain of 0.2 per cent. EUROSTOXX 50 futures slipped 0.2 per cent. Both Nasdaq futures and S&P 500 futures eased 0.2 per cent after earnings from Amazon failed to live up to lofty expectations, sending its shares tumbling 6.6 per cent after hours. Apple , meanwhile, forecast revenue well above analysts' estimates, following strong June-quarter results supported by customers buying iPhones early to avoid tariffs. Its shares were up 2.4 per cent after hours. Overnight, Wall Street failed to hold onto an earlier rally. Data showed inflation picked up in June, with new tariffs pushing prices higher and stoking expectations that price pressures could intensify, while weekly jobless claims signalled the labour market remained on a stable footing. Fed funds futures imply just a 39 per cent chance of a rate cut in September, compared with 65 per cent before the Federal Reserve held rates steady on Wednesday, according to the CME's FedWatch. Much now will depend on the U.S. jobs data due later in the day and any upside surprise could price out the chance for a cut next month. Forecasts are centred on a rise of 110,000 in July, while the jobless rate likely ticked up to 4.2 per cent from 4.1 per cent. The greenback has found support from fading prospects of imminent U.S. rate cuts, with the dollar index up 2.5 per cent this week against its peers to 100.1, the highest level in two months. That is its biggest weekly rise since late 2022. The Canadian dollar was little impacted by the tariff news, having already fallen about 1 per cent this week to a 10-week low. The yen was the biggest loser overnight, with the dollar up 0.8 per cent to 150.7 yen, the highest since late March. The Bank of Japan held interest rates steady on Thursday and revised up its near-term inflation expectation but Governor Kazuo Ueda sounded a little dovish. Treasuries were largely steady on Friday. Benchmark 10-year U.S. Treasury yields ticked up 1 basis point to 4.374 per cent, after slipping 2 bps overnight. In commodity markets, oil prices were steady after falling 1 per cent overnight. U.S. crude rose 0.1 per cent to $69.36 per barrel, while Brent was at $71.84 per barrel, up 0.2 per cent.

Shaping Tomorrow - Backed by trust: 100 years of Amex in Singapore
Shaping Tomorrow - Backed by trust: 100 years of Amex in Singapore

CNA

timean hour ago

  • CNA

Shaping Tomorrow - Backed by trust: 100 years of Amex in Singapore

For a century, American Express has been part of Singapore's story – supporting local communities and businesses, and building lasting relationships. From its first office in 1925 to initiatives like Shop Small, Amex has stood by businesses like Cathay Photo, a trusted partner for over 50 years. It's a legacy built on trust and a commitment to evolving with the people and places it serves, shares Mr Marlin Brown, Singapore country manager at American Express.

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