Gold gains on Trump tariff worries; US inflation data in focus
GOLD prices edged higher on Thursday (Feb 27) as concerns persisted over US President Donald Trump’s tariff plans, while investors awaited a key inflation report to assess the Federal…
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Fashion
Acrophyte Hospitality Trust’s H2 DPS falls 46.7% to US$0.01026
ACROPHYTE Hospitality Trust’s distribution per stapled security (DPS) for the half year ended December 2024 was down 55.9 per cent at US$0.00848, from US$0.01929 in H2 FY2023. The…
Nissan prepares to replace CEO after Honda deal falls apart
NISSAN Motor is drawing up plans to replace its chief executive officer following another dismal set of earnings and the collapse of talks to combine with Honda Motor, according to sources…
Seven & i says founding family unable to secure funding for US$58 billion buyout
JAPAN’S Seven & I Holdings said on Thursday the retailer’s founding Ito family could not secure the financing required for a US$58 billion management buyout, and it would consider a rival…
Bitcoin ETFs are hit by a record US$1 billion outflow in one day
INVESTORS yanked more than US$1 billion from spot Bitcoin exchange-traded funds (ETFs) on Tuesday (Feb 25), marking the biggest one-day outflow since the cohort’s debut last January.…
Amazon unveils long-awaited AI version of Alexa assistant
AMAZON.COM has rebooted Alexa with artificial intelligence (AI). The rollout marks the biggest overhaul of the voice-activated assistant since the company introduced it more than a decade…
China quant says funds must adopt AI to survive after DeepSeek
DEEPSEEK’S success is intensifying pressure on China’s quantitative hedge funds to embrace artificial intelligence (AI) or risk becoming obsolete, according to one of the most aggressive…
Alphabet’s Google cuts employees in cloud division
The cloud layoffs come as the tech industry’s culling of its corporate workforces has become all but standard in a new year ALPHABET’S Google on Wednesday (Feb 26) cut staffers in its…
Even as MAS plans an SGX revival, privatisations still take place
Five privatisations have been announced so far this year, including Cuscaden Peak’s offer for Paragon Reit EVEN with moves to revitalise the Singapore stock market and analysts hopeful…
Ireit Global’s H2 DPU stays at 0.94 euro cent
IREIT Global posted a distribution per unit (DPU) of 0.94 euro cent for the second half of financial year 2024 ended December, unchanged from the year-ago period. The DPU will be paid out…
Two new CDL directors will not exercise any powers until further notice from court: Kwek Leng Beng
THE two new directors appointed by CDL’s board have undertaken not to exercise any powers as directors until further notice, said CDL executive chairman Kwek Leng Beng in a surprise…
Centurion H2 net profit almost doubles to S$226.6 million
SPECIALISED accommodation-assets operator Centurion Corporation reported a net profit of S$226.6 million for the six months ended Dec 31, 2024, a 97 per cent jump from S$114.8 million in…
3M to return US$10 billion to shareholders, reiterates sales forecast
3M also reaffirmed its annual forecast of organic sales growth in the range of 2% to 3% 3M Co said on Wednesday (Feb 26) it would return at least US$10 billion in cash to shareholders and…
CSE Global H2 net profit dips 1.7%, dragged by US$8 million settlement
SYSTEMS integrator CSE Global’s earnings slipped 1.7 per cent year on year to S$11.3 million in H2 FY2024 ended December, weighed down by an arbitration settlement of US$8 million. The…
Hong Leong Asia H2 net profit rises 12.2% to S$38.2 million
HONG Leong Asia reported a net profit of S$38.2 million for its second half ended Dec 31, 12.2 per cent higher than the S$34.1 million recorded in the year-ago period. Revenue stood at…
Indonesia, home to giant gold mine, launches bullion banking
INDONESIA has launched its first bullion banks in a bid to draw tonnes of privately held gold into the financial system of South-east Asia’s largest economy. The region’s largest gold…
Billionaires should do more to list their businesses on SGX.
LAST week, there was a raft of measures unveiled to spur equities market development here. A S$5 billion equity market development programme is being launched, under which the Monetary…
Maybank Q4 profit rises 6.1% to RM2.5 billion
MAYBANK’S net profit for the fourth quarter rose 6.1 per cent to RM2.5 billion (S$764 million), supported by improved regional economic conditions, the bank said on Wednesday (Feb 26).…
China says Taiwan seeks to give away chip industry to US
China said on Wednesday (Feb 26) that Taiwan was seeking to give away the island’s semiconductor industry to the United States as a “souvenir” and leverage it to seek political support…
From origins to turmoil: The CDL story
1963: City Developments Ltd (CDL) begins operations with eight staff in a small, rented office at Amber Mansions and was listed on the Malayan Stock Exchange in November 1963. 1966: The…
China to start bank recapitalisation with at least 400 billion yuan
CHINA plans to start re-capitalising several of its biggest banks in coming months, according to people familiar with the matter, following through on a broad stimulus package unveiled…
CDL CEO Sherman Kwek disappointed by father’s ‘extreme actions’ against him after suits filed
CITY Developments Ltd (CDL) group chief executive officer Sherman Kwek said recent changes to the board have “never been about ousting our esteemed chairman”, responding to moves by his…
HSBC names Asia country, banking heads in CEO’s major revamp
HSBC Holdings gave country heads in some smaller Asian markets additional responsibilities as the lender streamlines and removes management layers. Peter Kim was appointed head of banking…
Adobe brings free Photoshop app to phones, courting younger users
The free version of the Photoshop app will have features such as splitting a photo into separate layers, masking off parts of it and adding text ADOBE said on Tuesday (Feb 25) it is…