Posts by Stephanie Irvin
Sea swings into the black in Q1 with US$410.8 million profit
[SINGAPORE] Sea reported first-quarter 2025 earnings of US$410.8 million, reversing from a loss of US$23 million in Q1 2024 on Tuesday (May 13). Revenue for the quarter rose 29.6 per cent to US$4.8 billion from US$3.7 billion a year prior. This was a slight miss from US$4.88 billion to US$4.84 billion forecast by a Bloomberg…
Read MoreBlackRock’s Fink sees trillions of dollars idle as volatility persists
[RIYADH] BlackRock CEO Larry Fink says tens of trillions of dollars of financial firepower is sitting idle in cash amid trade war worries and uncertainty over the United States economy, whose deficits are beginning to spook investors. “There is 12 trillion euros (S$17.4 trillion) sitting in bank accounts in Europe. In the United States, there’s…
Read MoreSGX securities daily average volume in April hits 5-year high
[SINGAPORE] The total securities market turnover value on the Singapore Exchange (SGX) increased 59 per cent to S$40.6 billion in April, on record foreign exchange (FX) futures and exchange-traded fund (ETF) activity. April’s total market turnover volume fell 21 per cent to 29.5 billion shares, from 37.1 billion in the same month the previous year,…
Read MoreChina removes ban on Boeing deliveries after US trade truce
[NEW YORK] China has removed a month-long ban on airlines taking delivery of Boeing planes, according to sources familiar with the matter, following a breakthrough in trade talks with the US that temporarily slashed tariffs on each side. Officials in Beijing have started to tell domestic carriers and government agencies this week that deliveries of…
Read MoreIndia proposes counter duties against US, notice to WTO shows
Published Tue, May 13, 2025 · 01:06 PM [NEW DELHI] India has proposed to levy import duties on some products made in the United States to counter Washington’s tariffs on steel and aluminium products produced in Asia’s No.3 economy, a notice to the World Trade Organization (WTO) shows. “The proposed suspension of concessions or other obligations takes…
Read MoreChina’s Meituan to start Brazil business with US$1 billion budget
The agreement takes one of China’s largest tech corporations into South America, after a rapid expansion into first Hong Kong, then the Middle East Published Tue, May 13, 2025 · 12:30 PM [NEW YORK] Meituan will invest US$1 billion over five years to start and expand a food delivery service in Brazil, as Luiz Inacio Lula…
Read MoreHertz posts worse-than-expected loss after shrinking fleet
[DETROIT] Hertz Global Holdings posted a larger-than-expected loss in the first quarter after the rental company shrank its fleet of cars and some customers slowed bookings. Revenue fell 13 per cent in the period, contributing to an adjusted loss of US$1.12 per share, the company said on Monday (May 12). Analysts had expected a 99-cent…
Read MoreCoinbase to join S&P 500 next week in crypto-market milestone
[NEW YORK] Coinbase Global, the largest US cryptocurrency exchange, will be added to the S&P 500 Index in the latest milestone for the booming digital asset industry. The company will replace Discover Financial Services in the index prior to the start of trading on May 19, S&P Dow Jones Indices said in a press release.…
Read MoreBritish pension funds pledge to step up UK investments
Published Tue, May 13, 2025 · 09:13 AM [LONDON] Major British pension funds pledged on Tuesday to invest billions of pounds in UK businesses and infrastructure, as the government leans on private investors to help it fund public projects and boost economic growth. Seventeen investment firms said they would invest up to 10 per cent…
Read MoreChinese e-commerce giants make expensive bets on fast deliveries
[SHANGHAI] Chinese e-commerce giants Alibaba and JD.com have opened a new front in the ongoing battle for market share, with both expanding aggressively into so-called instant retail centred around delivery speeds of 30 to 60 minutes this year. Investors will be dissecting the strategy when JD.com reports its quarterly earnings on Tuesday and Alibaba on…
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