The Week In Numbers: Another Company To Delist

The World Bank has warned that global growth could slow to 2.4% this year from its earlier forecast of 2.9%. It said advanced economies are struggling to gain traction.

However, growth in South East Asia is expected to accelerate slightly to 7.1% from 7% last year, thanks to investment in several large economies such as Indonesia, Malaysia and Thailand.

No one was any the wiser about this month’s US interest-rate decision after Janet Yellen spoke in Philadelphia earlier in the week. The Fed chair was upbeat about the US economy. But she said the May jobs report, which showed that only 38,000 jobs were created, was concerning.

However, she said it was just one piece of data. But that didn’t stop some people from putting two and two together to arrive at the conclusion that an interest-rate hike was improbable this month. That sent the dollar to a 5-week low against a basket of currencies. One US dollar buys S$1.35.

The fall in the US dollar sent oil prices above $50 a barrel. It also lifted Singapore’s oil and gas stock that include Keppel Corporation (SGX: BN4) and Sembcorp Marine (SGX: S51). But offshore marine outfit Otto Marine (SGX: G4F) has decided to call it a day, after its controlling shareholder proposed a voluntary delisting at S$0.32 per share.

And finally….

A monkey was behind a major power outage in Kenya. The vervet monkey fell onto a transformer at one of the country’s main hydroelectric plant. It caused a loss of more than 180 megawatts of power, which resulted in a major blackout. In case you are wondering…the money is fine.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore Director David Kuo doesn’t own shares in any companies mentioned.