Oil prices plunged around 25per cent on Monday, heading towards their biggest daily loss since 1991 after Saudi Arabia slashed prices and set plans for a big increase in crude production in April.
Goldman Sachs cut its second- and third-quarter Brent price forecasts to US$30 per barrel, citing the oil price war between Russia and Saudi Arabia and a significant collapse in oil demand due to the coronavirus that has killed more than 3,500 globally.
MAPLETREE Investments has obtained a 200 million euro (S$310 million) sustainability-linked loan from OCBC Bank, which will be used for general working capital and corporate funding purposes.
Airport passenger traffic in the Asia-Pacific region is expected to take a 24per cent hit in the first quarter from the coronavirus, leading to a US$3 billion decline in airport revenue and placing pressure on growth projects, an industry group said on Monday.
Oil prices plunged around 25per cent on Monday, heading towards their biggest daily loss since 1991 after Saudi Arabia slashed prices and set plans for a big increase in crude production in April.
Gold prices jumped past the US$1,700 per ounce level for the first time since late 2012 on Monday, as a widening coronavirus outbreak and a plunge in crude oil hammered equities and sent investors scurrying for safe havens.
DBS Group Holdings chief executive Piyush Gupta had his 2019 pay rise just about 2 per cent to S$12.13 million, the bank's latest annual report on Monday showed, with 2019 marking his 10th year at Singapore's largest bank.
SYDNEY Asian shares were set for a pounding on Monday (Mar 9) as investors fled to bonds to hedge the economic shock of COVID-19, and oil plunged more than 20 per cent after Saudi Arabia slashed its official selling price. The world's top oil exporter plans to raise its production...
CITI Research on Monday downgraded the Singapore banks to "sell", seeing further material downside on the trio's share prices as the bank-brokerage expects short-term Fed interest rates to hit and stay at zero for much of the next nine months.
CITI Research on Monday downgraded the Singapore banks to "sell", seeing further material downside on the trio's share prices as the bank-brokerage expects short-term Fed interest rates to hit and stay at zero for much of the next nine months.
