News
OCBC conservative about FY2025 targets amid trade tensions, uncertainties
Bank’s Q4 net profit is up 4% at S$1.7 billion, while full-year earnings rise 8% to a record S$7.6 billion OCBC rode on the strength of macroeconomic tailwinds to...
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:...
Thai central bank surprises with rate cut as risks to growth increase
THE Bank of Thailand unexpectedly cut its key interest rate for the first time in four months, acting after disappointing growth data and public calls for lower borrowing costs...
CDL says Sherman Kwek remains group CEO, as board battle erupts
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...
Great Eastern privatisation is ‘natural progression’ in bank’s strategy: OCBC CEO Helen Wong
THE full integration of Great Eastern into OCBC will help the lender realise more synergistic value, by providing more opportunities for the bank to work closer with the insurer,...
Alibaba makes AI model for video, image generation publicly available
CHINESE e-commerce leader Alibaba said on Wednesday (Feb 26) that its video- and image-generating artificial intelligence (AI) model Wan 2.1 is now publicly available – or open source –...
Circle says stablecoin issuers should be US registered
JEREMY Allaire, the co-founder of stablecoin issuer Circle Internet Financial, is making the case that the issuers of the US dollar-based cryptocurrencies that underpin much of the trading in...
Super Micro jumps after filing delayed financial reports
SUPER Micro Computer gained more than 20 per cent in extended trading after it submitted outstanding financial reports to become compliant with Nasdaq rules, easing concerns risks that the...
BP to up oil and gas output, slash clean energy spend in overhaul
BP PLANS to increase production of its more profitable oil and gas business and slash investment in cleaner energy, the British energy giant announced on Wednesday (Feb 26) to...
OCBC shares fall nearly 3% after Q4 earnings miss
Fourth-quarter net profit of S$1.69 billion falls short of the S$1.78 billion consensus forecastSHARES of OCBC fell in early trading on Wednesday (Feb 26) morning after the lender posted...
Lynas profit slumps 85% as low rare earths prices take toll
The miner’s performance indicates the market is still over-supplied, with rare earth oxide prices down due to strong output from China and its economic slowdownLYNAS Rare Earths’ first-half profit...
Instacart forecasts downbeat first-quarter core profit, shares fall
INSTACART on Tuesday forecast a lower-than-expected first-quarter core profit as the online grocery delivery platform expects sequential declines in advertising revenue.The company’s shares, which also missed fourth-quarter revenue estimates,...