Posts by Mark Darwin
KPMG to spend US$100 million on AI partnership with Google Cloud
KPMG said on Wednesday (Nov 20) it would spend US$100 million over the next four years to bolster its enterprise artificial intelligence (AI) services through a partnership with Alphabet’s Google Cloud. Part of the money will be spent on payments directly to Google, though the majority will be spent on in-house efforts that leverage Google’s…
Read MoreOil settles down on strong US supply, losses capped by Ukraine escalation
OIL prices settled lower on Wednesday (Oct 20) after US crude and petrol stocks rose by more than expected last week, but losses were capped by worries about the intensifying war between major oil producer Russia and Ukraine. Brent crude futures for January settled down 50 US cents, or 0.68 per cent, at US$72.81. US…
Read MoreMaybank eyes Johor-Singapore SEZ for growth; targets 25% profit contribution from Singapore by 2027
The zone could generate a need for financing among companies – an area Maybank is eager to support THE upcoming Johor-Singapore Special Economic Zone (SEZ) could drive a 10 to 20 per cent growth in Maybank Singapore’s loan book within the first year of operation, country chief executive Alvin Lee told The Business Times. Malaysia’s…
Read MoreEurozone banks are vulnerable to US funding squeeze: ECB
The growing dependence on US dollars and the stronger link between banks and non-banks pose risks to the eurozone’s financial system EUROZONE financial institutions are increasingly using US dollar markets for liquidity, creating risks to financial stability if US funding dries up, according to the European Central Bank. The use of US dollar repos…
Read MoreAmos Group extends offer closing date to Dec 12
OFFSHORE oil and gas equipment manufacturer Amos Group on Wednesday (Nov 20) extended the deadline for shareholders to accept the offer made by its controlling shareholder to 5.30 pm on Dec 12. This is its second and final extension of the closing date. The closing date was initially extended from Nov 7 to Nov 21,…
Read MoreOpenAI launches free AI training course for teachers
Trained on reams of data, generative AI can create brand-new humanlike content, helping users spin up term papers, complete science homework and even write entire novels OPENAI and non-profit partner Common Sense Media have launched a free training course for teachers aimed at demystifying artificial intelligence and prompt engineering, the organisations said on Wednesday (Nov…
Read MoreChinese EV maker Nio’s Q3 net loss widens to 5.1 billion yuan on lower vehicle sales
CHINESE electric vehicle (EV) maker Nio’s net loss widened to 5.1 billion yuan (S$945.5 million) for its third quarter ended Sep 30, 2024, from 4.6 billion yuan in the year-ago period. Nio is listed in the United states, Hong Kong and Singapore. The company’s loss per share stood at 2.50 yuan for the third quarter,…
Read MoreSingapore stocks fall amid mixed regional showing; STI drops 0.4%
Nikkei 225 ends 0.2% lower, while Kospi is up 0.4%; Bursa loses 0.3% and Hang Seng closes 0.2% higher SINGAPORE stocks closed lower on Wednesday (Nov 20), as investors awaited chipmaker Nvidia’s earnings report and grappled with concerns over escalating geopolitical tensions after Ukraine fired its first US missile to Russia. The Straits Times Index…
Read MoreADIA, GIC said nearing Pye-Barker Fire & Safety minority stake
The Abu Dhabi Investment Authority (ADIA) and Singapore’s GIC are in advanced talks to acquire a minority stake in Pye-Barker Fire & Safety in a deal that would value the company at more than US$6 billion including debt, according to people with knowledge of the matter. The two sovereign wealth funds are discussing purchasing the…
Read MoreSingapore shares rise at Wednesday’s open; STI up 0.2%
SINGAPORE stocks began trading higher on Wednesday (Nov 20) morning following a mixed performance in world indices. As at 9.03 am, the Straits Times Index (STI) rose 6.14 points or 0.2 per cent to 3,764.11. Across the broader market, gainers outnumbered losers 81 to 30 after 108.8 million securities worth S$96.1 million changed hands. Mapletree…
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