Business
China polysilicon firms plan 50 billion yuan fund to shut a third of industry capacity
Chinese producers of polysilicon, a building block for solar panels, are in talks to create a 50 billion yuan (S$8.9 billion) fund to…
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Business
Carvana’s 10,000% rally from low deals US$7 billion blow to shorts
Carvana’s shares notched an all-time high this week, rising more than 10,000 per cent from a low in late 2022, and delivering a blow to…
Business
Meta to share AI infrastructure costs via US$2 billion asset sale
Meta Platforms is pressing ahead with efforts to bring in outside partners to help fund the massive infrastructure needed to power…
Business
Poland doubles down on South Korean tanks with $6.5 billion deal
WARSAW, Poland — In a bid to expand the tracked vehicle fleet of the country’s land forces, the Polish Ministry of National Defence has…
Business
OCBC trims full-year NIM guidance; Q2 profit slips 7% to S$1.82 billion
OCBC has lowered its target net interest margin (NIM) for FY2025 to a range of 1.9 to 1.95 per cent, down five to 10 basis points (bps)…
Business
Indofood Agri Resources’ H1 net profit up 13.4% at 337.8 billion rupiah amid higher commodity prices
Indofood Agri Resources on Thursday (Aug 1) posted a 13.4 per cent rise in net profit to 337.8 billion rupiah (S$26.6 million) for its…
Business
OCBC Q2 profit falls 7% to S$1.82 billion; to pay S$0.41 a share in dividends
The earnings beat the S$1.79 billion consensus forecast from a Bloomberg poll of six analysts OCBC’s net profit for the second quarter…
Business
Shein revenue neared US$10 billion in first quarter before tariffs: sources
Shein Group’s net income rose to over US$400 million and revenue was almost US$10 billion in the first quarter as consumers snapped up the…
Business
StanChart sets US$1.3 billion buyback as first-half profit outstrips forecasts
Standard Chartered (StanChart) reported on Thursday (Jul 31) a higher-than-expected 26 per cent jump in first-half pretax profit, as a…
Business
StanChart sets US$1.3 billion buyback as H1 profit outstrips forecasts
Standard Chartered reported on Thursday (Jul 31) a higher-than-expected 26 per cent jump in first-half pre-tax profit, as a strong…
Business
Richest Thai sees US$10 billion hydro, LNG projects driving growth
Construction on a US$1 billion LNG import terminal project, Thailand’s third, will start later this year before commercial operations are…
Business
OpenAI hits US$12 billion in annualised revenue, The Information reports
GPT-MAKER OpenAI roughly doubled its revenue in the first seven months of the year, reaching US$12 billion in annualised revenue, The…
Business
Keppel shares up 5.5% on H1 earnings growth and plan to divest S$14.4 billion of non-core assets
Year to date, it is up 25.1% from its closing price on the last trading day of 2024 Shares of Keppel rose on Thursday (Jul 31) morning…
Business
Keppel shares up 6.1% on H1 earnings growth and plan to divest S$14.4 billion of non-core assets
Shares of Keppel rose on Thursday (Jul 31) morning after the asset manager said H1 net profit grew 24.2 per cent and that it planned to…
Business
Keppel H1 profit rises 24.2% to S$377.7 million; seeks to monetise S$14.4 billion non-core assets
Asset manager Keppel saw net profit rise 24.2 per cent on the year to S$377.7 million for the first half ended Jun 30, driven by growth in…
Business
Keppel posts 24.2% rise in H1 profit to S$377.7 million, seeks to monetise S$14.4 billion non-core assets
Asset manager Keppel saw net profit rise 24.2 per cent on the year to S$377.7 million for the first half ended Jun 30, driven by growth in…
Business
China’s JD.com to acquire German electronics retailer Ceconomy for 2.2 billion euros
[DUESSELDORF, Germany] JD.com is set to acquire German electronics retailer Ceconomy in a 2.2-billion-euro (S$3.3-billion) deal at 4.60…
Business
Airbus first-half profit climbs 85% to US$1.7 billion
European aerospace group Airbus posted an 85-per cent rise in first-half profit Wednesday to US$1.7 billion, even though it delivered…
Business
Temasek sees 10 times gain with 5.5 billion euro stake sale in Indian JV with Schneider
Temasek Holdings has sold its 35 per cent stake in an Indian joint venture with Schneider Electric to the French company for 5.5 billion…
Business
Tesla signs US$4.3 billion LGES battery deal, source says, reducing China reliance
South Korea’s LG Energy Solution (LGES) has signed a US$4.3 billion deal to supply Tesla with energy storage system batteries, said a…
Business
UBS beats expectations with US$2.4 billion second-quarter profit
The firm expects trading and transactional activity to become more normalised in the quarter ahead said on Wednesday (Jul 30) that…
Business
UBS second-quarter profit doubles to $2.4 billion, beats estimates
UBS’ second-quarter profit more than doubled from a year earlier, comfortably ahead of expectations, as it joined other major banks in…
Business
Kraken seeks US$500 million funding at US$15 billion valuation, The Information reports
TOCURRENCY exchange Kraken is set to raise US$500 million in funding at a US$15 billion valuation, The Information reported on Tuesday,…
Business
P&G estimates US$1 billion tariff hit, plans some US price hikes
Procter & Gamble executives projected a US$1 billion hit from US tariffs over the next year on Tuesday as the consumer products giant said…