Offshore marine and subsea group Ezra Holdings posted a net loss of US$53.7 million for the first quarter ended Nov 30 as it continued to battle volatile and sinking oil prices. This was a reversal of the US$54.4 million net profit for the year-ago period and is Ezra's first net loss since its listing.
The manager of Cambridge Industrial Trust said on Thursday (Jan 14) it will look into buying assets in Singapore, Australia and Japan, as well as conduct a strategic review of the property trust's business and operations.
Indonesia's central bank, which resisted cutting its benchmark interest rate for months, did so on Thursday in a bid to lift an economy growing at its slowest rate in six years. The benchmark policy rate was lowered by 25 basis points to 7.25 per cent, while the overnight deposit facility rate and lending facility rate were also cut by the same amount to 5.25 per cent and 7.75 per cent respectively.
Chinese stocks headed for a bear market on Thursday (Jan 14) while government bond yields fell to a record as central bank cash injections and a stable yuan fixing failed to shore up investor confidence in the world's second-largest economy.
China's top diplomat warned on Thursday (Jan 14) that a new global financial crisis was possible as markets suffer a painful rout at the start of the year, partly over fears of turmoil in the world's second largest economy.