Business
Citigroup profit beats estimates on trading, deals windfall
Citigroup’s quarterly profit beat Wall Street estimates on Tuesday (Jul 15), as its traders brought in a windfall from turbulent markets…
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Business
Business
US banking giants reap gains from dealmaking rebound
Large US banks expressed optimism about the investment banking outlook for the rest of the year after dealmaking rebounded in the second…
Business
US dollar gains on yen after consumer price data
The US dollar gained against the Japanese yen and was little changed against the euro on Tuesday (Jul 15) in choppy trading, after data…
Business
US: S&P 500, Nasdaq open higher after inflation data; focus on bank earnings
The Nasdaq and the S&P 500 opened higher on Tuesday (Jul 15) after fresh inflation data, while banking heavyweights kicked off the…
Business
Philip Yeo to step down from CDL board after fiery AGM showdown
City Developments Ltd (CDL) announced the retirement of Philip Yeo, who notably backed executive chairman Kwek Leng Beng’s bitter…
Business
Philip Yeo to step down from CDL board
City Developments Ltd (CDL) announced the retirement of Philip Yeo, who notably backed executive chairman Kwek Leng Beng’s bitter…
Business
At Las Vegas Sands, investment planning takes place over decades, not years or quarters
One could say the number “15” is a rather auspicious one for Marina Bay Sands (MBS) and its parent company, Las Vegas Sands (LVS). By the…
Business
Standard Chartered launches Bitcoin, Ether spot trading for institutional clients
The lender is the first global systemically important bank to offer such crypto services Standard Chartered will allow institutional…
Business
Pop Mart says Labubu craze to spur 350% surge in profit
Chinese toymaker Pop Mart International Group expects the soaring global popularity of its Labubu plush toys to drive a threefold increase…
Business
UOL prices S$225 million notes due 2032 at 2.78%
This comes after the property developer previously priced S$75 million notes at the same rate on Jul 9 UOL’s unit UOL Treasury Services…
Business
Chinese carmaker Geely to pay US$2.4 billion to take full control of Zeekr
Chinese automaker Geely Automobile will acquire the chunk of electric-vehicle maker Zeekr that it does not already own for US$2.40…
Business
Geely to take Zeekr unit private at US$6.83 billion valuation
The carmaker, which already holds 62.8% of Zeekr, has raised its buyout offer from US$2.2 billion in May to about US$2.4 billion — Geely…
Business
India's cooling inflation prompts rate cut calls
A slump in India’s retail inflation to six-year lows and a likely drop to a record low in July is prompting calls for at least one more…
Business
Singapore shares rise, tracking regional gains; STI up 0.3%
Straits Times Index rise 10.61 points to 4,119.82, after hitting an intra-day high of 4,129.77 The benchmark Straits Times Index (STI)…
Business
Singapore AUM up 12.2% in 2024, exceeds S$6 trillion for the first time
Total assets under management (AUM) in Singapore rose 12.2 per cent to hit S$6.07 trillion as at Dec 31, 2024, surpassing the S$6 trillion…
Business
Nissan to halt production at Japanese plant at Oppama
Struggling auto giant Nissan said on Tuesday (Jul 15) it will stop production at its plant at Oppama in Japan at the end of its 2027…
Business
Galeries Lafayette Reshuffles Management Ranks
PARIS – Galeries Lafayette continues to reshuffle its management ranks in the wake of the death of matriarch Ginette Moulin. Following the…
Business
Wyndham to boost presence in South Asia with new alliance
Wyndham Hotels & Resorts has announced a strategic alliance with Indian hospitality group Cygnett Hotels & Resorts to expand its footprint…
Business
SMFG said to eye US$1.1 billion additional investment in Yes Bank: sources
The fresh investment would bring the total amount to US$2.7 billion, giving SMFG a roughly 25% stake in Yes Bank Sumitomo Mitsui Financial…
Business
Chinese investors’ FX pile hits US$1 trillion amid low local rates
Chinese corporates and households boosted their foreign-currency deposits last month to the highest in three years, as they shunned the…
Business
Temasek’s Heliconia Capital awaits MAS approval for new CEO after departure of Derek Lau
Temasek-owned Heliconia Capital Management is awaiting regulatory approval for a new chief executive, some four months after the…
Business
Far East Hospitality opens two hotels in Osaka
Far East Hospitality announced on Tuesday (Jul 15) the opening of two hotels in the Namba South and Honmachi districts in Osaka, in a bid…
Business
Ericsson's Q2 profit beats expectations, says North America growth was good
Operating profit excluding restructuring charges was 7.0 billion crowns against a year-earlier loss of 11.9 billion Swedish telecom…
Business
RTX launches new Collins Aerospace facility with flexible manufacturing system in Singapore
Defence conglomerate RTX launched its new Collins Aerospace facility at Seletar Aerospace Park in Singapore on Tuesday (Jul 15). This…