Posts by Stephanie Irvin
Bank of Korea signals more rate cuts as Trump’s tariffs take shape
BANK of Korea governor Rhee Chang-yong signalled more policy easing to come this year as the central bank cut its benchmark interest rate to support an economy jolted by political turmoil and threatened by Donald Trump’s tariff plans. In a press conference on Tuesday (Feb 25) after the board unanimously decided on a quarter-percentage point…
Read MoreGreat Eastern Q4 profit falls 14% to S$134.8 million
GREAT Eastern on Tuesday (Feb 25) reported a net profit of S$134.8 million for the fourth quarter ended Dec 31, down 14 per cent from S$157.2 million in the previous corresponding period. The insurance provider noted that the fourth quarter “saw several developments in the medical insurance business from both Singapore and Malaysia”. These developments…
Read MoreGreat Eastern Q4 profit falls 14% to S$134.8 million, reflecting medical insurance provisions
GREAT Eastern on Tuesday (Feb 25) pointed to provisions made for its medical insurance business as the primary reason its net profit fell 14 per cent to S$134.8 million for the fourth quarter ended Dec 31, from S$157.2 million in the previous corresponding period. “In terms of profitability, it was only (our) medical (insurance business)…
Read MoreZoom issues dour revenue forecasts as demand slows
ZOOM Communications forecast revenue for the full year and the first quarter below Wall Street estimates on Monday as the company navigates an environment where employers are gradually moving away from hybrid work models. The company’s shares were down 2 per cent to US$79.40 in extended trading. Zoom had seen rapid growth in users and…
Read MoreIntel says new ASML machines are in production, with positive results
INTEL on Monday said that the first two cutting-edge lithography machines from ASML Holding are “in production” at its factories, with early data indicating they are more reliable than earlier models. At a conference in San Jose, California, Intel senior principal engineer Steve Carson said Intel has produced 30,000 wafers, the large discs of silicon…
Read MoreTesla deploys long-awaited FSD features to drivers in China
TESLA has started rolling out a software update for customers in China that enables driver-assistance capabilities similar to those marketed as Full Self-Driving (FSD) in the US. The update, which the carmaker is pushing to vehicles in batches, allows Tesla owners to use driver-assist features on city streets, according to a notification from the company…
Read MoreUnveiling the Secrets of Wealth Preservation and Management
Wealth isn’t just about numbers on a screen or balances in a bank account. It’s a testament to your hard work, strategic decisions, and, often, the legacy you aim to leave behind. Yet, accumulating wealth is only half the battle. Preserving and managing it effectively? That’s where the real challenge lies. From market fluctuations to…
Read MoreUS: Wall St rebounds after last week’s selloff
Wall Street’s main indexes opened higher on Monday (Feb 24), rebounding from a sharp selloff in the previous week, while Apple edged up in choppy trading after the iPhone maker announced a US$500 billion investment plan. The Dow Jones Industrial Average rose 65.1 points, or 0.15 per cent, at the open to 43,493.12. The S&P…
Read MoreDBS CEO sees job cuts of 4,000 temp staff as AI replaces roles
DBS Group Holdings plans to cut around 4,000 of its contract and temporary staff workforce over the next three years as artificial intelligence increasingly takes on roles carried out by human beings. South-east Asia’s largest lender has approximately 8,000 to 9,000 of such staff, according to chief executive officer Piyush Gupta replying to a query…
Read MoreVietnam adds to global steel turmoil with tariffs hitting China
Outside China itself, Vietnam is the biggest single buyer of Chinese steel, and hot-rolled coil is a major export product VIETNAM will impose anti-dumping tariffs on steel from China, following South Korea and other nations in fighting back against surging supplies from the world’s biggest producer. The South-east Asian nation will impose temporary tariffs on…
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