Posts by Stephanie Irvin
UOB prices A$2 billion floating rate senior unsecured notes
UOB announced on Friday (Feb 21) that its Sydney branch has priced its A$2 billion (S$1.7 billion) floating rate senior unsecured notes. The notes will be due on Feb 28, 2028, and have a coupon of three-month bank bill swap rate plus 0.65 per cent per annum payable quarterly in arrear. They will be issued…
Read MoreVicom posts 11% higher H2 net profit on robust demand for vehicle testing
VEHICLE Inspection company Vicom posted 11 per cent higher net profit of S$15.2 million for the half-year ended Dec 31, 2024, from S$13.7 million in the year before. This comes as revenue over the same period rose 12.8 per cent year on year to S$63.2 million, from S$56 million. The company’s board has proposed a…
Read MoreAlibaba rockets more than 14% to boost Hong Kong market
SHARES in e-commerce titan Alibaba soared more than 14 per cent on Friday (Feb 21), extending a blistering rally in Hong Kong’s Hang Seng Index, after forecast-topping earnings added to a growing sense of optimism over Chinese tech firms. The Hangzhou-based company operates some of China’s most widely used online shopping platforms, making its performance…
Read MoreAbrdn in talks to launch China asset management venture with Citic unit: sources
ABRDN is in advanced talks with Citic Bank to launch an asset management joint venture in China, two sources with knowledge of the matter said, as the British firm looks to bolster its presence in the world’s second-largest economy. The discussions follow a warming in British-Sino relations and contrast with decisions in recent years by…
Read MoreStanChart reports 18% rise in annual profit, roughly in line with estimates
STANDARD Chartered reported on Friday its annual profit rose 18 per cent, roughly in line with analysts’ estimates, on strong performance of its wealth and markets business. The London-based bank reported pretax profit for 2024 of US$6 billion, up from US$5.1 billion the year before and slightly below the US$6.2 billion average of analysts’ forecasts…
Read MoreRex International falls 19.5% to S$0.173 on heavy trading after profit warning
SHARES of oil exploration and production company Rex International fell on Friday (Feb 21) morning on heavy trading after the company said it was expecting to post a net loss in its upcoming financial results release. As at 11.03 am, the counter had fallen 19.5 per cent or S$0.042 to S$0.173 from its latest closing…
Read MorePBOC injects most short-term funds this month amid cash crunch
The PBOC has been tolerating a surge in repo rates and kept liquidity conditions tight, aiming to support the yuan amid economic headwinds CHINA’S central bank increased injection of short-term funds into the financial system on Friday (Feb 21), in an attempt to ease a cash crunch that has roiled the nation’s bond market. The…
Read MoreTrump tariff worries set gold on course for eighth straight weekly gain
GOLD prices were little changed on Friday (Feb 21) but remained on track for an eighth successive weekly gain, driven by concerns over US President Donald Trump’s tariff plans, which could spark trade wars and stoke inflation. Spot gold was up 0.1 per cent to US$2,941.25 an ounce, as at 0018 GMT. Bullion rose about…
Read MoreMeta reduces stock options for staff despite trading at record highs: FT
META Platforms has cut back on its yearly distribution of stock options by about 10 per cent for tens of thousands of employees despite the social media giant trading at record highs this month, the Financial Times reported on Thursday. Employees receive equity refreshers every year that make up the majority of their remuneration, alongside…
Read MoreSingapore Oil Hub Opportunities Amid US Tariff Uncertainty
The city-state may be able to leverage its robust infrastructure and strategic location to help companies adjust WITH US tariffs shaking up global trade, Singapore could profit by leveraging its position as Asia’s oil trading hub, turning price fluctuations into opportunities and helping companies navigate the turbulence, while securing supply advantages and optimising strategies, say…
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