Singapore Wuthelam Billionaire Founder Goh Cheng Liang Has Died
Goh, 98, had a net worth of $13.2 billion, according to the Bloomberg Billionaires Index.
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Yahoo
43 minutes ago
- Yahoo
Dollar slips as investors eye September Fed cut
By Rae Wee SINGAPORE (Reuters) -The dollar weakened on Wednesday after a tame reading on U.S. inflation bolstered expectations of a Federal Reserve rate cut next month, with President Donald Trump's attempts to extend his grip over U.S. institutions also undermining the currency. U.S. consumer prices increased marginally in July, data showed on Tuesday, in line with forecasts and as the pass-through from Trump's sweeping tariffs to goods prices has so far been limited. Investors eyeing imminent Fed cuts cheered the data and moved to price in a 98% chance the central bank would ease rates next month, which in turn dragged on the dollar. Against the yen, the dollar was last 0.05% lower at 147.76, while the euro was steady at $1.1676, having risen 0.5% in the previous session. The dollar index last stood at 98.08, after falling roughly 0.5% on Tuesday. "The July CPI report showed less evidence of tariff pass-through to consumer prices...(but) I think a September rate cut is less than certain, probably not as certain as current market pricing," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. "As the last payroll shows, one report can be sufficient to move the policy debate to one side or another. So I think we still have to wait until the remaining data to print before making a strong case about a rate cut or an on hold decision." U.S. Treasury yields similarly fell on the heightened rate cut expectations, with the two-year yield last at 3.7371%, having swung in a range of nearly 10 basis points on Tuesday. The benchmark 10-year yield was little changed at 4.2965%. [US/] Also eroding investor confidence in the dollar were fresh attempts by Trump to undermine Fed independence, after White House spokeswoman Karoline Leavitt said on Tuesday that the U.S. president was considering a lawsuit against Fed Chair Jerome Powell in relation to his management of renovations at the central bank's Washington headquarters. Trump has been at loggerheads with Powell and has repeatedly lambasted the Fed Chair for not easing rates sooner. The president also hit out at Goldman Sachs CEO David Solomon, saying the bank had been wrong to predict U.S. tariffs would hurt the economy and questioned whether Solomon should lead the Wall Street institution. Elsewhere, sterling gained 0.03% to $1.3504. Britain's jobs market weakened again though wage growth stayed strong, according to data on Tuesday, underscoring why the Bank of England is so cautious about cutting interest rates. "(The) UK jobs figures pointed to the labour market remaining in fragile shape," said Michael Brown, senior research strategist at Pepperstone. "My base case still has the next 25bp cut pencilled in for November, though there is a long way to go, and a lot of data to come, before then." In other currencies, the Australian dollar dipped 0.05% to $0.6526, while the New Zealand dollar fell 0.03% to $0.5953. The Reserve Bank of Australia on Tuesday cut interest rates as expected, and signalled further policy easing might be needed to meet its inflation and employment goals as the economy lost some momentum. Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Vietnam Secures First-Ever Export Order for 5,000 Unmanned Cargo Aircraft to a Hi-Tech Nation
SEOUL, South Korea, Aug. 12, 2025 (GLOBE NEWSWIRE) -- On August 12, 2025, a historic milestone was marked in the nation's technology sector as Vietnam received its first order to export 5,000 unmanned cargo airplanes to a top-tier global technology powerhouse like South Korea. The memorandum of understanding (MOU) was signed between CT Group from Vietnam and an emerging South Korean drone technology company during the Vietnam-Korea Economic Forum on August 12, 2025, in Seoul, South Korea. This landmark event took place in the presence of General Secretary of Vietnam To Lam and Prime Minister of South Korean Kim Min-seok. CT Group signs agreements with partners at the Vietnam – Korea Economic Forum The signing marks a historic milestone in Vietnam's technological journey, sending shockwaves across the international stage. Mastering all core technologies in the cutting-edge UAV sector further affirms the strategic role of CT Group Vietnam in shaping the nation's technological future. Today, UAVs have become one of the most critical technologies, with widespread applications spanning from diverse industrial sectors to urban development and consumer markets, from specialized military and security fields to the defense of whole nations or vast regions. UAVs are rapidly being adopted in various sectors such as passenger and cargo transportation, logistics and distribution, agriculture and forestry, healthcare, surveillance and rescue operations, firefighting, technology tourism, security monitoring, even carbon credit initiatives. With the rapid technological advancements in South Korea – a global technology hub, mastering all core technologies and securing an export order for unmanned cargo aircraft to such a high-end and highly selective market stands as vivid proof of a rising Vietnam in the new era. It also opens vast opportunities for CT Group to expand UAV exports to a wide range of countries worldwide. The heavy-duty transport UAV models, ranging from 60 kg to 300 kg, developed by CT UAV (a member of CT Group) boast a localization rate of up to 85% and exclusive Vietnamese technology, earning high recognition from several nations, including South Korea. The company's self-sufficiency in designing semiconductor chips for UAVs provides CT UAV with a distinctive competitive advantage. This milestone event demonstrates that Vietnam is ready to compete in the global technology arena at a higher level. It not only fosters national economic growth but also elevates Vietnam's position and prestige on the international stage. Moreover, mastering UAV technology is opening a new era for Vietnam – an era of spatial automation, where flying robots deliver a new level of social productivity thousands of percent higher than previous standards. Today, the nation that possesses a greater number of specialized UAVs will prevail not only on the economic and social fronts but across all other domains as well. In particular, CT Group is developing UAV models integrated with artificial intelligence, capable of self-learning and autonomous decision-making. This potential is elevated to a new level with the creation of a spatial environment designed to foster AI development. Combined with semiconductor technology and geolocation network identification systems, along with specialized UAV technologies for the digital transformation of land, cities, rivers, seas, deltas, and mountains. CT Group is building a robust technical foundation to support Vietnam's comprehensive digital transformation. The tightly integrated ecosystem of core technologies, mutually reinforcing one another, positions CT Group among the rare corporations capable of driving synergistic, high-speed development. At this historic event, CT Group made an even greater splash by achieving a 'double victory', securing an order to export 100 million ATP semiconductor chips to a South Korean partner. This is a highly complex field, dominated by a limited number of developed nations, considered the 'pinnacle' of global technology. The fact that an emerging Asian nation like Vietnam has stepped directly into the semiconductor arena is a powerful affirmation of a Vietnam that dares to think boldly, act decisively, advance toward conquering some of the most challenging high-tech industries, such as semiconductors. Years later, in retrospect, the world will look back on today's historic event as a miraculous milestone in the development of Vietnamese technology during the Fourth Industrial Revolution, a remarkable chapter on the challenging journey to conquer the world and bring happiness to humanity. CONTACT: Email: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
an hour ago
- Bloomberg
Moutai Emerges as Dividend Play With Yield Topping AgBank's
Kweichow Moutai Co. 's dividend yield has surpassed Agricultural Bank of China Ltd. 's for the first time, boosting the premium liquor maker's appeal to income investors despite slowing growth. Moutai's indicated net dividend yield stands at 3.9%, topping the 3.7% on AgBank's Shanghai-listed stock. The yield of China's top distiller has ticked higher on steady payout increases and a persistent share slump.
