Posts by Stephanie Irvin
Prudential’s quarterly new business profit rises on strong Hong Kong, China growth
Published Wed, Apr 30, 2025 · 09:05 AM PRUDENTIAL on Wednesday reported a 12 per cent rise in new business profit for the first quarter, as the Asia-focused insurer benefitted from strong performance in its Hong Kong and China segments. The London and Hong Kong dual-listed company posted new business profit, on a traditional embedded…
Read MoreElectronic Arts lays off hundreds, cancels ‘Titanfall’ game
Published Wed, Apr 30, 2025 · 07:15 AM [NEW YORK] Electronic Arts (EA) is laying off hundreds of workers and cancelling a Titanfall game that was in development at its Respawn Entertainment subsidiary. Between 300 and 400 positions were eliminated, including around 100 at Respawn, according to a source familiar with the cuts. “As part…
Read MoreASM’s orders beat estimates on strong demand from China
[NETHERLANDS] ASM International’s first-quarter orders beat estimates, fuelled by high demand for chipmaking equipment in artificial intelligence (AI) linked segments and solid sales in China. Orders rose 14 per cent from a year earlier at constant currency to 834 million euros (S$1.2 billion) in the three months to March, ASM said on Tuesday (Apr 29).…
Read MoreAre the “Magnificent Seven” Still Magnificent?
Have you been following the recent drop in tech stocks? If so, you’ve likely noticed that even the strongest names in the market — the so-called Magnificent Seven — have taken a serious hit. What’s going on? And more importantly, what do these new Trump tariffs mean for the future of big tech? What Just…
Read MoreUS: Stocks rally as Trump tempers auto tariffs
Published Wed, Apr 30, 2025 · 06:12 AM [NEW YORK] Wall Street stocks rose on Tuesday as markets digested mixed earnings while applauding a move by President Donald Trump to ease tariffs on automakers. Trump’s pivot includes limitations on the impact of multiple tariffs on carmakers and a measure to allow carmakers to offset a portion of…
Read MoreIndonesia’s state banks eye bigger share of growing wealth market in Singapore
[JAKARTA] Bank Negara Indonesia (BNI) and Bank Mandiri, Indonesia’s state-owned banks, are pulling out all the stops to make their mark in Singapore’s competitive wealth management sector. This comes as an increasing number of affluent Indonesian individuals and corporate clients funnel their assets into the city-state, tapping into a market estimated to be worth around…
Read MoreST Engineering unit to issue US$750 million 4.25% notes due 2030
They will be issued under the company’s S$5 billion global medium-term note programme [SINGAPORE] A wholly owned subsidiary of Singapore Technologies Engineering (ST Engineering) has priced US$750 million in five-year notes with a 4.25 per cent fixed-rate coupon. The notes are expected to be issued on May 8, and will mature on May 8, 2030,…
Read MoreMalaysia’s Petronas and Commonwealth LNG in talks for term supply
Petronas is in talks to buy at least one million metric tons per annum (mtpa) of LNG from Commonwealth LNG Published Tue, Apr 29, 2025 · 09:56 PM [KUALA LUMPUR] Malaysian state-owned oil and gas firm Petroliam Nasional, or Petronas, is in talks with Commonwealth LNG to buy liquefied natural gas from the US company’s…
Read MoreStarhill Global Reit Q3 NPI inches up 0.5% to S$37.9 million
THE manager of Starhill Global real estate investment trust (Reit) posted a net property income (NPI) of S$37.9 million for Q3 FY2025 ended Mar 31, up 0.5 per cent from S$37.7 million in the previous corresponding period. The slight increase in NPI was mainly driven by appreciation of the Malaysian ringgit against the Singapore dollar…
Read MoreHong Leong Finance sees over 300% growth in EV loans
[SINGAPORE] Hong Leong Finance (HLF) announced that it has seen a more than 300 per cent increase in electric vehicle (EV) loans, from S$73 million in 2023 to S$314 million in 2024. Besides EV loans, HLF also saw a more than 300 per cent increase in vehicle loans processed digitally, from S$99 million in 2023…
Read More