Posts by Stephanie Irvin
Saudi Arabia reports first-quarter deficit of US$15.65 billion
Declining oil prices and voluntary production cuts have weighed on Saudi revenue in recent years Published Mon, May 5, 2025 · 10:01 PM [RIYADH] Saudi Arabia’s deficit widened significantly to US$15.65 billion in the first quarter of 2025 from US$3.30 billion a year before as oil revenues fell 18 per cent to 149.810 billion riyals…
Read MoreTyson Foods beats quarterly profit estimates on strong chicken demand
The company witnessed sustained demand for its frozen meat and ready-to-eat food as consumers increasingly preferred eating at home Published Mon, May 5, 2025 · 09:02 PM [NEW YORK] Tyson Foods beat Wall Street expectations for second-quarter profit on Monday (May 5), driven by increased demand for its chicken products and lower costs. The company…
Read MoreProcurri Corp moves towards delisting by appointing IFA for privatisation offer
[SINGAPORE] Procurri Corp has appointed Evolve Capital Advisory as the independent financial adviser (IFA) for the acquisition offer from parent company Exeo Global Asset Holdings amid a potential delisting from the Singapore Exchange (SGX). The mainboard-listed IT solutions provider said in a regulatory filing on Monday (May 5) that the IFA will advise its independent…
Read MoreSIC proposes changes to takeovers and mergers code to protect competitive process, improve disclosures
[SINGAPORE] The Securities Industry Council (SIC) on Monday (May 5) issued a consultation paper on amendments to Singapore’s Code on Take-overs and Mergers, with the aim to enhance regulation around such deals. The proposed changes intend to protect the competitive process of takeover and merger transactions, improve the timeliness of schemes of arrangement, and enhance…
Read MoreSingapore stocks end higher on Monday; STI up 0.2%
Top gainer is DFI Retail Group at US$2.71, while the biggest decliner is Yangzijiang Shipbuilding at S$2.11 [SINGAPORE] Stocks in Singapore ended higher on Monday (May 5), tracking Friday’s gains on Wall Street. The benchmark Straits Times Index (STI) rose 0.2 per cent or 7.93 points to 3,853.07. Across the broader market, gainers outnumbered losers…
Read MoreIPhone maker Hon Hai’s April sales surge 26% ahead of US tariffs
Published Mon, May 5, 2025 · 05:16 PM [TAIPEI] Hon Hai Precision Industry, the main contract manufacturer for Apple and Nvidia, said its April revenue rose 26 per cent, likely boosted by the hastening of orders ahead of US tariffs that could upend business for its customers. Sales in April reached US$21.4 billion. That contributed…
Read MoreGrab appoints Alejandro Osorio as new managing director for Singapore
[SINGAPORE] Ride-hail and delivery giant Grab announced on Monday (May 5) that Alejandro Osorio has been appointed as managing director (MD) of Grab Singapore. Osorio currently leads the Grab Vietnam team. In his place, Ma Tuan Trong, presently the company’s country commercial head in Vietnam, will assume Osorio’s role of MD for Grab’s Vietnam office. …
Read MoreSingapore dollar surges to 1.29 to US dollar amid Asia currency rally
[SINGAPORE] Asian currencies rallied on Monday (May 5) on hopes of a thaw in the US-China trade war and regional tariff deals with the Trump administration. Taiwan led the charge, with its currency surging as much as 5 per cent, the biggest intraday gain in over three decades, on speculation exporters are rushing to convert…
Read MoreChina resumes spot LNG purchases to take advantage of price drop
The move is a u-turn for Chinese LNG buyers, which had reduced imports and resold shipments because expensive gas was not attractive to a weaker domestic market Published Mon, May 5, 2025 · 01:51 PM [SINGAPORE] Chinese firms are purchasing liquefied natural gas (LNG) shipments from the spot market, a reversal of months of relative…
Read MoreAdani aides meet Trump team to push for end to US bribery case
Published Mon, May 5, 2025 · 01:14 PM REPRESENTATIVES for Indian billionaire Gautam Adani met officials from US President Donald Trump’s administration to seek dismissal of criminal charges in an overseas bribery probe, Bloomberg News reported on Sunday. Shares of Adani Group’s nine listed companies rose between 0.4 per cent and 5.3 per cent in…
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