Posts by Mark Darwin
HSBC’s payments app closure puts around 400 jobs at risk: source – The Business Times
Additional lower-ranking job cuts are also expected in the first quarter, with bank management keen to offset headwinds to earnings from lower interest rates, China’s economic chills and geopolitical tensions HSBC has decided to shutter its international payments app Zing, potentially triggering around 400 job losses, a source familiar with the matter said, as CEO…
Read MoreJapanese investors boost foreign stock purchases on Fed rate-cut hopes – The Business Times
JAPANESE investors raised their holdings in foreign stocks, driven by a benign US core inflation report that fuelled expectations of Federal Reserve cuts and boosted global equities, while a strong yen also lifted domestic buying power. They invested a net 489.8 billion yen (S$4.2 billion) into overseas stocks, for a sixth straight week through Jan…
Read MoreCut-off yield on latest Singapore 1-year T-bill inches up to 2.95% – The Business Times
SINGAPORE’S latest one-year tranche of Treasury bills (T-bills) is offering a cut-off yield of 2.95 per cent, auction results released by the Monetary Authority of Singapore indicated on Thursday (Jan 23). This is up 0.24 percentage point from the 2.71 per cent offered in the auction for the previous one-year tranche in October last year.…
Read MoreSoftBank, OpenAI plan US$19 billion each for Stargate: report – The Business Times
SOFTBANK Group and OpenAI each plan to commit US$19 billion of capital to Stargate, the US$100 billion US artificial intelligence (AI) endeavour President Donald Trump unveiled this week, the Information reported. The two companies would then both own 40 per cent of Stargate, the tech outlet said, citing comments by chief executive officer Sam Altman…
Read MoreLey Choon surges 15% as investors positive on construction upturn – The Business Times
SHARES of construction and engineering company Ley Choon jumped on Thursday (Jan 23) morning, after The Business Times reported that the stock is worth watching as the company is set to ride the construction upturn. When the market opened, the counter rose 14.6 per cent or S$0.007 to S$0.055, with about 2.5 million shares changing…
Read MoreAscott bags 16 new signings under Oakwood portfolio to tap growing ‘bleisure’ market – The Business Times
ASCOTT, the wholly owned lodging business unit of CapitaLand Investment, has secured 16 new signings under the Oakwood brand in 2024, up 30 per cent from the previous year. This includes a bumper crop of four Oakwood Premier signings into new cities – Adelaide, Bali, Shenzhen and Singapore – since the brand refreshed early last…
Read MoreMicrosoft poised to benefit from Stargate joint venture with zero money – The Business Times
WHEN President Donald Trump joined tech executives on Tuesday (Jan 21) to tout a multibillion-dollar artificial intelligence (AI) project led in part by OpenAI, one question sprang to mind: Where’s Microsoft? Despite investing almost US$14 billion in OpenAI and using the startup’s AI models for its next-generation cloud services, Microsoft was mentioned only as a…
Read MoreDBS, OCBC, UOB to gain from higher AUM, fees amid booming family office scene – The Business Times
Upcoming Singapore Budget may give further tax incentives for philanthropy, sustainability SINGAPORE’S strong family office sector will likely continue to boost the wealth management businesses of the local banking trio, analysts said. More family offices have tended to be beneficial for the onshore deposit business and liquidity of the banks, said Jayden Vantarakis, head of…
Read MoreMapletree Industrial Trust posts 1.5% rise in Q3 DPU to S$0.0341 – The Business Times
THE distribution per unit (DPU) for Mapletree Industrial Trust (MIT) rose 1.5 per cent to S$0.0341 for its third quarter ended Dec 31, 2024, from S$0.0336 in the prior year. Revenue for the quarter was up 2 per cent at S$177.3 million, from S$173.9 million in the year-ago period. This was due to contributions from…
Read MoreP.O. Box Prices: What You’ll Really Pay in 2024
Thinking about getting a P.O. Box in 2024? You’re not alone. With more people shopping online and working remotely, having a secure spot for your mail is pretty handy. But, like everything else, prices are going up. It’s not just about the box itself; there are a bunch of costs to consider. In this article,…
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