Posts by Stephanie Irvin
HSBC warns trade turmoil poses serious risks to global growth
[LONDON] Shifting global trade relations have increased economic uncertainty with serious risks to growth, making it difficult for international banks to provide the medium term outlook effectively, HSBC chairman Mark Tucker said on Friday (May 2). Speaking at the bank’s annual shareholder meeting in London, a day after it announced he would retire by the…
Read MoreCICT sells stake in CapitaSpring serviced residence component for S$37.8 million
[SINGAPORE] The manager of CapitaLand Integrated Commercial Trust (CICT) on Friday (May 2) announced the sale of its stake in the serviced residence component of CapitaSpring. CICT owns a 45 per cent interest in Glory SR Trust, which holds the serviced residence component of the integrated development. CICT’s manager did not disclose the purchasers, but…
Read MoreSingapore shares close higher ahead of GE2025; STI up 0.3%
[SINGAPORE] Stocks on the local bourse ended higher on Friday (May 2), a day before Singaporeans head to the polls. The Straits Times Index (STI) gained 0.3 per cent or 12.63 points to 3,845.14. On the STI, Jardine Matheson was the top gainer. It rose 3.9 per cent or US$1.74 to US$46.20. CapitaLand Investment came in…
Read MoreShell Q1 profit drops 28%, beats estimates, keeps share buybacks steady
[LONDON] Shell reported a 28 per cent drop in first-quarter net profit to US$5.58 billion on Friday (May 2), beating analyst expectations, while it held steady the pace of its share buyback programme despite falling oil prices and lower refining margins than last year. It said it would buy back US$3.5 billion worth of shares…
Read MoreAirAsia-owner Capital A eyes Hong Kong listing
[BENGALURU] Malaysia’s Capital A, the owner of budget carrier AirAsia, said on Friday (May 2) it was exploring listing on the Hong Kong stock exchange, as it looks to broaden access to global capital once it exits its financially distressed status. The company, hard hit by pandemic travel restrictions, was classified by Malaysia’s stock exchange…
Read MoreStanChart Q1 profit beats estimates as lender weighs impact of Trump’s tariff war
[LONDON] Standard Chartered reported first-quarter profit that beat estimates as it weighs the impact of US President Donald Trump’s trade war. Adjusted pretax profit for the quarter through March hit US$2.28 billion, largely driven by the bank’s financial markets and wealth units, which exceeded the US$2.15 billion consensus estimate compiled by Bloomberg. “The subsequent imposition…
Read MoreStanChart profit beats as lender weighs impact of tariff war
Published Fri, May 2, 2025 · 01:02 PM STANDARD Chartered reported first-quarter profit that beat estimates as it weighs the impact of US President Donald Trump’s trade war. Adjusted pretax profit for the quarter through March hit US$2.28 billion, largely driven by the bank’s financial markets and wealth units, which exceeded the US$2.15 billion consensus…
Read MoreAsia: Stocks gain after China teases US tariff talks
[HONG KONG] Asian markets largely rose on Friday, tracking Wall Street gains, as China said it was considering a US offer to negotiate steep tariffs. US markets forged higher on Thursday following strong results from tech giants Microsoft and Meta that helped offset lingering economic worries. Apple reported first-quarter profit above expectations but warned that…
Read MoreCapitaLand Investment sinks 8% after Q1 revenue falls 24%; counter goes ex-dividend
The company attributes the revenue decline to the deconsolidation of CapitaLand Ascott Trust in December [SINGAPORE] CapitaLand Investment’s (CLI) shares plunged more than 8 per cent on Friday (May 2) morning, after the company posted a 24 per cent decline in year-on-year revenue in Q1 2025. Trading in the company also went ex-dividend today. Shares…
Read MoreLured by Thailand perks, China’s EV makers face reality check
IT’S HARD to miss the aggressiveness of Chinese automakers in the Thai market on the drive from Suvarnabhumi Airport into Bangkok: huge billboards featuring BYD, Changan Auto, GAC, Great Wall Motor, SAIC MG and many other Chinese brands line the highways and roads. And on the streets of the capital, Chinese car dealerships are often…
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