SINGAPORE – OCBC beat market expectations on Friday (May 7) as its first-quarter profit more than doubled on the strong performance of its wealth and insurance businesses …
Healthy employment numbers make Wall Street happy
WASHINGTON (AFP) – US stocks finished higher on Thursday (May 6), after the Labour Department reported fewer new claims for unemployment benefits last week as …
UOB Q1 profit rises 18% to $1 billion, beating expectations
SINGAPORE – UOB, like DBS Group last week, posted a strong start to 2021 with broad-based growth driven by record fee income. Singapore’s third-largest bank …
Uber shows signs of recovery from Covid-19 slowdown
NEW YORK (NYTIMES) – Uber said its business was recovering from the slowdown caused by the Covid-19 pandemic, although it continued to lose money. The …
Ascendas Reit to buy remaining 75% stake in Galaxis for $534 million
SINGAPORE (THE BUSINESS TIMES) – Ascendas Reit is buying the remaining 75 per cent equity stake in Galaxis, a business park at one-north for about …
US stocks end choppy week on a downcast note
NEW YORK (AFP) – Wall Street stocks fell on Friday (April 30) as markets weighed another round of mostly strong earnings against concerns about rising …
Frasers Hospitality Trust first-half DPS falls 45.5%
SINGAPORE (THE BUSINESS TIMES) – Frasers Hospitality Trust’s (FHT) distribution per stapled security (DPS) fell by 45.5 per cent to 0.179 cent, for the first …
DBS Q1 profit surges 72% to record $2.01 billion; flags strong year ahead
SINGAPORE – DBS Group on Friday (April 30) trumped market forecasts with a 72 per cent jump in first-quarter earnings as business fired on all …
US home prices surge most since 2006 with tight inventory
WASHINGTON (BLOOMBERG) – US home prices soared the most in 15 years, with low mortgage rates and a scant inventory of properties to buy fueling …
ADB lifts Asia growth forecast on Covid-19 vaccines, but warns of resurgent virus risks
MANILA (AFP) – The Asian Development Bank (ADB) has raised its growth forecast for developing Asia this year on the rollout of Covid-19 vaccines and …
Sheng Siong Q1 profit up 6.5% from higher revenue in new stores
SINGAPORE (THE BUSINESS TIMES) – Supermarket operator Sheng Siong on Monday (April 26) posted a net profit of $30.9 million for its first quarter ended …
GameStop shares jump after Reddit darling raises US$551 million for e-commerce push
BENGALURU (REUTERS) – GameStop has raised US$551 million (S$730.4 million) through an equity offering as the videogame retailer accelerates its shift to e-commerce, sending its …
South Korea economy grows faster than expected as investment, exports bounce
SEOUL (REUTERS) – South Korea’s economic growth beat expectations in the first quarter, extending the country’s export-led recovery as global demand surged and the government maintained …
CICT posts 66.6% rise in Q1 net property income to S$247.1m
SINGAPORE (THE BUSINESS TIMES) – CapitaLand Integrated Commercial Trust (CICT) saw its net property income (NPI) rise 66.6 per cent in the first quarter ended …
US stocks end volatile week on positive note
NEW YORK (AFP) – Wall Street stocks rose on Friday (April 23) to finish a volatile week on a positive note following strong new home …
Intel data centre sales slump stokes concern about market share
(BLOOMBERG) – Intel Corp, the biggest chipmaker, reported a drop in data centre revenue and a steep decline in gross profit margin, a sign it’s …
US economy on a solid footing, Covid-19 still top threat: Poll
NEW YORK (REUTERS) – The US economy will grow at its fastest annual pace in decades this year and outperform most of its major peers, …
United Airlines outlines traffic needed for profit as losses pile up
NEW YORK (BLOOMBERG) – United Airlines Holdings spelled out the travel milestones needed for a return to profitability after posting a bigger-than-expected loss in the …
Japan exports post largest monthly gain since late 2017
TOKYO (REUTERS) – Japan’s exports posted their strongest growth in more than three years in March, led by a surge in China-bound shipments, in a …
Bitcoin plunges 15% in biggest intraday drop since February
SINGAPORE (BLOOMBERG) – Bitcoin plunged the most in more than seven weeks, just days after reaching a record. The biggest crypto coin fell 8.5 per …