Posts by Stephanie Irvin
Oil settles lower, posts steepest monthly decline since 2021
[NEW YORK] Oil prices settled down on Wednesday (Apr 30) and recorded the largest monthly drop in almost 3½ years after Saudi Arabia signalled a move towards producing more and expanding its market share, while the global trade war eroded the outlook for fuel demand. Brent crude futures settled US$1.13, or 1.76 per cent, lower…
Read MoreTrump should revise rules for AI chip exports, says Nvidia CEO
Huang says policies and support from the administration are crucial to accelerating the global diffusion of American AI technology Published Wed, Apr 30, 2025 · 11:22 PM [WASHINGTON] Nvidia chief executive officer Jensen Huang said he would like the Trump administration to change regulations for exporting artificial intelligence technology from the US to the rest…
Read MoreTikTok plans to build 1b euro data centre in Finland
[HELSINKI] TikTok plans to invest 1 billion euros (S$1.48 billion) to build its first data centre in Finland as it moves data storage for European users to the continent, a TikTok spokesman confirmed on Wednesday (Apr 30). The spokesman declined to give further details as he confirmed the plan revealed to Reuters by two sources…
Read MoreMiu Miu’s momentum powers Prada sales growth
Published Wed, Apr 30, 2025 · 08:03 PM [MILAN] Net revenues at Italian luxury group Prada rose 12.5 per cent at constant exchange rates in the first quarter, slightly above analysts expectations, thanks to a 60 per cent jump in retail sales at its smaller brand Miu Miu. The group, which this month struck a…
Read MoreMaybank names Shafiq Abdul Jabbar as new group chief financial officer
He takes over from Khalijah Ismail, who was dismissed by the bank earlier this year following an internal inquiry [MALAYSIA] Maybank has appointed Shafiq Abdul Jabbar as its new group chief financial officer, with effect from Jul 7. He takes over the role from Khalijah Ismail, who was dismissed by the bank earlier this year…
Read MoreSingapore stocks rise on Wednesday, snapping four-day losing streak; STI up 0.7%
Across the broader market, gainers beat decliners 288 to 177, after 971.8 million securities worth S$1.4 billion change hands [SINGAPORE] Equities on the Singapore bourse rose on Wednesday (Apr 30), as four sessions of losses drew some bargain hunting. Sentiment across most of Asia was also more positive, after Japan’s top trade negotiator said he…
Read MoreThailand’s central bank cuts key rate by 25 bps
Published Wed, Apr 30, 2025 · 03:46 PM [BANGKOK] Thailand’s central bank cut its key interest rate by a quarter point for a second consecutive meeting on Wednesday (Apr 30), in a move to support an underperforming economy facing uncertainty over steep US tariffs. The Bank of Thailand’s monetary policy committee voted 5-2 to reduce…
Read MoreThailand’s central bank cuts rate again; economy could face recession as US tariffs loom
[BANGKOK] Thailand’s central bank cut its key interest rate by a quarter point for a second consecutive meeting on Wednesday (Apr 30), in a move to support an underperforming economy facing uncertainty over steep US tariffs. The Bank of Thailand’s (BOT) monetary policy committee voted 5-2 to reduce the one-day repurchase rate by 25 basis…
Read MoreChinese sovereign fund CIC to sell US$1 billion of US private equity investments: sources
[HONG KONG] Chinese sovereign investor China Investment Corporation (CIC) is selling about US$1 billion of its private equity (PE) investment portfolio in the secondary market, two sources with knowledge of the matter said. The assets are held in a number of funds managed by eight US fund managers, including Blackstone and Carlyle Group, said the…
Read MoreUBS Q1 profit tops forecasts but Trump tariff shock clouds outlook
[ZURICH] UBS on Wednesday (Apr 30) posted better than expected first-quarter net profit, but the Swiss bank warned of an uncertain outlook as US tariffs raise global growth fears even as the market tumult drove up earnings in its trading activity. Switzerland’s biggest bank reported net profit attributable to shareholders of US$1.7 billion in the…
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