Borrowing strain hits NAB’s Q1 profit, shares dive
NATIONAL Australia Bank, the country’s biggest business lender, said on Wednesday that first-quarter profit slipped as competition for customers ate into margins and more borrowers fell…
Swedan Margen
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Singtel’s Q3 profit surges 183.4% to S$1.3 billion on exceptional gains
SINGTEL’S net profit for the third quarter ended Dec 31 climbed 183.4 per cent to S$1.3 billion from S$465 million in the same period the year before. This was mainly attributed to a net…
HSBC to sell Bahrain retail banking operations as restructuring progresses
The deal will see a transfer of retail loans, deposits and accounts of about 76,000 customers to BBK HSBC on Tuesday (Feb 18) agreed to sell its retail banking operations in Bahrain to the…
Meta says it plans to build the world's longest undersea internet cable
Facebook’s parent company Meta said it’s working on the world’s longest undersea cable as part of the social media giant’s efforts to connect more people to high-speed internet. Called…
Toyota is backing LG battery plant with US$1.5 billion order
TOYOTA Motor has agreed to shift a US$1.5 billion order with LG Energy Solution to bolster operations at a Michigan battery plant after General Motors (GM) backed out of the project,…
Elon Musk's 'Flirty' DMs Exposed! Ashley St Clair Alleges She Gave Birth to His 13th Child"
Social media influencer Ashley St Clair has made shocking claims about her relationship with billionaire entrepreneur Elon Musk. In an exclusive interview, the 26-year-old author described…
Cordlife expects to be in the red for FY2024; ‘no assurance’ of profitability in FY2025
PRIVATE cord-blood bank Cordlife expects to post a loss for the 2024 fiscal year due to the financial fallout from lapses discovered in the storage of its cord-blood units two years ago.…
Goldman hoists gold target to US$3,100 on central-bank demand
GOLDMAN Sachs Group raised its year-end gold target to US$3,100 an ounce on central-bank buying and inflows into bullion-backed exchange-traded funds, highlighting Wall Street’s enthusiasm…
Gold market ructions spur spike in Singapore exports to the US
GOLD shipments from Singapore to the US climbed to the highest level in almost three years in January, a further sign of the ructions in bullion trading after pricing disparities opened up…
Robinhood expects to launch crypto products in Singapore in 2025
ROBINHOOD Markets plans to launch Singapore crypto offerings in 2025 through an entity of European digital-assets exchange Bitstamp, which it recently acquired. The company intends to roll…
DBS names new heads of operations, and corporate and SME banking
SINGAPORE’S largest lender DBS named on Tuesday (Feb 18) its two picks for the group head of its corporate and SME banking unit, as well as its group head of operations. The current…
Lights, camera, adios: Indebted Cathay Cineplexes to shutter West Mall outlet
ROLL the end credits – beleaguered cinema chain Cathay Cineplexes is closing its West Mall outlet on Thursday (Feb 20), the same day its lease at the Bukit Batok shopping complex expires.…
Asia: Tech rally helps Hong Kong lead markets higher
HONG Kong resumed its tech-led rally on a healthy day for Asian markets on Tuesday (Feb 18) as a meeting between President Xi Jinping and China’s top business leaders fanned hopes that a…
China’s Sany Heavy Industry aims to raise up to US$1.5 billion in planned Hong Kong listing: sources
CHINESE manufacturer Sany Heavy Industry is planning a listing in Hong Kong that could raise up to US$1.5 billion, two sources familiar with the matter said on Tuesday (Feb 18). The…
HSBC axes 40 dealmakers in Hong Kong as part of revamp to cut costs: source
HSBC has laid off around 40 investment bankers in Hong Kong, according to a source with direct knowledge of the matter, as part of a global restructuring exercise at the Asia-focused…
Australia backs Virgin-Qatar Airways tie-up citing improved air services
AUSTRALIA’S competition watchdog on Tuesday (Feb 18) backed a planned alliance between Virgin Australia and Qatar Airways, saying it would provide air travellers with improved services and…
LG kicks off roadshows for US$1.5 billion India IPO
LG ELECTRONICS has started roadshows to meet potential investors in the initial public offering (IPO) of its Indian unit, sources familiar with the matter said. The South Korean company…
Honda ready to revive takeover talks if Nissan CEO Uchida leaves: report
Nissan’s board of directors has also started informal discussions regarding the timing of Uchida’s departure HONDA Motor will resume talks with Nissan Motor to form the world’s…
Gold inches higher on concerns over Trump tariff threats
GOLD prices edged higher on Tuesday (Feb 18) as uncertainty over US President Donald Trump’s tariffs continued to dominate sentiment, reinforcing bullion’s appeal as a safe-haven asset…
Virgin overtakes Qantas as Australia’s largest domestic airline
VIRGIN Australia overtook Qantas Airways to become Australia’s largest and most reliable airline at the end of last year, sending a warning to the marquee carrier and supporting a…
Indonesian parliament set to vote on amendment to mining law
INDONESIA’S parliament is set to vote on Tuesday (Feb 18) on a bill to revise the country’s mining law to boost the development of domestic mineral processing industries and regulate…
Indonesia amends mining law to boost access, support processing
Indonesia is a major coal exporter and has rich deposits of tin, copper and bauxite, among other metals INDONESIA’S parliament on Tuesday (Feb 18) passed a bill to revise the country’s…
Shein executive seeks to reassure investors after Trump crackdown on low-value imports
FAST-FASHION retailer Shein’s executive chairman Donald Tang told investors in a letter on Monday (Feb 17) that “growth remains strong” despite the United States ending the duty-free…
Japan’s historic rate shift is turbo-charging the credit market
JAPAN’S corporate bond market is booming, as an economic rebound and plans to get ahead of higher interest rates encourage a flurry of issuance. Japanese companies have sold 14.7 trillion…