Posts by Mark Darwin
US dollar profits from Japan political uncertainty, pound awaits UK budget
THE US dollar hit three-month highs against the yen on Tuesday (Oct 29) as the loss of a parliamentary majority for Japan’s ruling coalition in weekend elections muddied the political and monetary picture, while sterling was firm ahead of a new British budget. The Chinese yuan, which touched its weakest level against the dollar since…
Read MoreCordlife to hold EGM to appoint new auditors, approve directors’ fees
EMBATTLED cord-blood bank Cordlife will hold an extraordinary general meeting (EGM) next month to appoint new auditors and approve its directors’ fees. The EGM will be held at Great World City East on Nov 14 at 10 am, during which Cordlife will seek the appointment of audit firm PKF as its external auditor until its…
Read MoreAztech Global net profit falls 55.7% to S$13.7 million as revenue slides
MAINBOARD-LISTED Aztech Global posted a 55.7 per cent drop in net profit to S$13.7 million for its third quarter ended Sep 30, 2024, from S$30.9 million in the corresponding year-ago period. Earnings per share for the quarter stood at 1.78 Singapore cents for the quarter, down from 4 cents in the same period of the…
Read MoreBP profit slumps to near four-year low as oil demand sags
BP POSTED a 30 per cent drop in third-quarter profit to US$2.3 billion – the lowest in almost four years – weighed down by weaker refining margins and oil trading results, it said on Tuesday (Oct 29). However, the fall in profit from a year earlier was smaller than expected. This comes amid a slowdown…
Read MoreMAS fines investment firm S$1.9 million for making big customer transactions without adequate checks
AAIM ran afoul of the central bank’s anti-money laundering and countering financing of terrorism requirements THE Monetary Authority of Singapore (MAS) has issued a penalty of S$1.9 million to Atrium Asia Investment Management (AAIM) for breaching the central bank’s anti-money laundering and countering the financing of terrorism (AML/CFT) requirements. Specifically, MAS said AAIM had processed…
Read MoreSingapore digital economy grew 6.6% in 2023; efforts to help SMEs adopt generative AI underway: IMDA
82% of SMEs have used at least one digital solution to enhance general business functions SINGAPORE’S digital economy grew 6.6 per cent to account for S$113 billion of the nation’s gross domestic product in 2023, up from S$106 billion in 2022. The digital economy accounted for 17.7 per cent of national GDP, which the Infocomm…
Read MoreSingapore digital economy shrank 2.3% in 2023; efforts to help SMEs adopt generative AI underway: IMDA
SINGAPORE’S digital economy shrank 2.3 per cent in nominal terms to account for S$113.2 billion of the nation’s gross domestic product in 2023, down from S$115.9 billion in 2022. (*See clarification note) The Infocomm Media Development Authority (IMDA) said that the digital economy shrank in line with the nation’s nominal GDP, which fell 2 per cent year on year in…
Read MoreBOK’s Rhee sees softer economic growth closer to 2.2% this year
BANK of Korea (BOK) governor Rhee Chang-yong said economic growth may be closer to 2.2 per cent this year in a downgrade from a previous projection, as policymakers keep a watchful eye on the current health of the economy. The outlook for South Korea’s economic growth turned less optimistic last week after the central bank…
Read MoreApple ships US$6 billion of iPhones from India in big China shift
APPLE’s iPhone exports from India jumped by a third in the six months to September, underscoring its push to expand manufacturing in the country and reduce dependence on China. The US company exported nearly US$6 billion of India-made iPhones, an increase of a third in value terms from a year earlier, sources familiar with the…
Read MoreStarHub mobile network outage reported by users; over 2,000 reports on Downdetector
SOME StarHub customers experienced disruptions to their mobile network on the morning of Oct 29, leaving them unable to access the internet. Outage monitoring site Downdetector registered more than 990 reports at 7.46 am. More than 80 per cent of the reports were about mobile internet, while the remainder were over mobile phone network issues…
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