Posts by Liam Redmond
Wilmar posts 22.8% fall in Q1 net profit to US$265.6 million amid volatile commodity prices
Operating conditions for the year depend on developments in global trade policies, says the company [SINGAPORE] Wilmar reported a 22.8 per cent decrease in net profit to US$265.6 million for the first quarter ended Mar 31, from US$343.9 million in the corresponding year-ago period. Revenue for the quarter grew 21.9 per cent to US$19.8 billion…
Read MoreChina’s mega banks post increased profits in first quarter
Net interest margins are stable or continued to narrow across the banks, while non-performing loan ratios are largely stable Published Wed, Apr 29, 2026 · 05:25 PM [BEIJING] China’s largest state-owned lenders reported increased first-quarter earnings, as the industry seeks to emerge from a protracted squeeze on profitability that has defined the sector’s performance for…
Read MoreBig Chinese tech firms scramble to secure Huawei AI chips after DeepSeek V4 launch: sources
Internet firms including ByteDance, Tencent and Alibaba are reaching out about Ascend 950 orders Published Wed, Apr 29, 2026 · 04:21 PM [BEIJING] Demand for Huawei’s Ascend 950 AI chips has surged following the release of DeepSeek’s V4 artificial intelligence model that runs on the Shenzhen-based tech firm’s chips, with major Chinese Internet firms rushing…
Read MoreThai central bank holds key interest rate, as expected
Its monetary policy committee voted unanimously to maintain the one-day repurchase rate at 1% Published Wed, Apr 29, 2026 · 03:21 PM [BANGKOK] Thailand’s central bank kept its key interest rate unchanged at a review on Wednesday (Apr 29), as expected, as it assesses the economic impact of higher oil prices caused by the war…
Read MoreCognition fast-tracks Asia-Pacific expansion with new Singapore headquarters
This follows the tech company’s entry into the region through Japan earlier in April [SINGAPORE] Cognition, best known for being the company behind pioneer artificial intelligence software development tool Devin, launched its regional headquarters in Singapore on Wednesday (Apr 29) amid surging enterprise demand across the region. Launched in March 2024, Devin was recognised for…
Read MoreUBS beats profit expectations on market volatility
Markets have remained broadly resilient so far in the second quarter, the bank says Published Wed, Apr 29, 2026 · 01:49 PM [ZURICH] Swiss bank UBS posted better-than-expected first-quarter net profit on Wednesday (Apr 29), helped by record trading revenue amid market turbulence triggered by the war in the Middle East. Switzerland’s biggest bank reported…
Read MoreChina’s Meta backlash renders Manus model ‘officially dead’
Beijing is piling on the pressure just as startups grapple with escalating geopolitical tensions THE artificial intelligence startup Manus, once hailed as a breakthrough that would challenge Silicon Valley’s dominance, is turning into a cautionary tale for Chinese entrepreneurs after Beijing authorities ordered Meta Platforms to unwind its US$2 billion takeover of the company. With…
Read MoreMUFG to foray into Indian real estate, expand forex derivatives
The bank has been scaling up in India, with its investment in Shriram Finance marking a big move Published Wed, Apr 29, 2026 · 11:48 AM [MUMBAI] Mitsubishi UFJ Financial Group (MUFG ) will start lending to real estate firms in India and expand its foreign exchange derivatives business in the country’s low-tax hub, as…
Read MoreCountries have collective interest to keep critical sea lanes open and secure: Zhulkarnain
The closure of the Strait of Hormuz has put key maritime chokepoints under the spotlight [SINGAPORE] Unlawful restrictions on the flows of trade, energy and critical supplies impose a cost that small island-nations cannot afford, Minister of State for Foreign Affairs Zhulkarnain Abdul Rahim said on Apr 27. It is in the collective interest of…
Read MoreGold steady as markets await Powell’s comments on Iran war impact
Investors expect the Fed to hold interest rates steady at the end of its two-day meeting, ending later in the day Published Wed, Apr 29, 2026 · 09:35 AM [BENGALURU] Gold was largely steady on Wednesday (Apr 29) as investors awaited US Federal Reserve chair Jerome Powell’s comments to assess the Iran war’s impact on…
Read MoreStocks to watch: CapitaLand Investment, Mapletree Industrial Trust, Hong Leong Asia, Wing Tai, Metro
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Apr 29): CapitaLand Investment : Its total revenue stood at S$487 for the first quarter ended March. This was amid higher contributions from the fee-related business, which makes up 59 per cent of total revenue. It recorded a fee-related…
Read MoreUAE exit blindsides Opec and threatens to shake its grip on oil
The departure of one of the group’s most influential members will still raise wider questions [DUBAI] The shock decision by the United Arab Emirates to quit Opec blindsided its partners of six decades. Now the cartel will have to fight to stay relevant in a fast-shifting global oil market. Officials from other member countries were…
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