Posts by Stephanie Irvin
HSBC to sell Bahrain retail banking operations as restructuring progresses
HSBC on Tuesday (Feb 18) agreed to sell its retail banking operations in Bahrain to the Bank of Bahrain and Kuwait (BBK) amid a global restructuring at the bank. The deal will see a transfer of retail loans, deposits and accounts of about 76,000 customers to BBK, which is majority-owned by the governments of both…
Read MoreHSBC to sell Bahrain retail banking operations as restructuring progresses
The deal will see a transfer of retail loans, deposits and accounts of about 76,000 customers to BBK HSBC on Tuesday (Feb 18) agreed to sell its retail banking operations in Bahrain to the Bank of Bahrain and Kuwait (BBK) amid a global restructuring at the bank. The deal will see a transfer of retail…
Read MoreUOB beats expectations with Q4 profit up 8.6% to S$1.52 billion; announces S$3 billion capital distribution package
The lender has proposed a final dividend of S$0.92 per share and special dividend of S$0.50 per ordinary share UOB on Wednesday (Feb 19) posted a net profit of S$1.52 billion for the fourth quarter ended December, up 8.6 per cent from S$1.4 billion in the previous corresponding period. This included S$17 million in one-off…
Read MoreTrump says he will introduce 25% tariffs on autos, pharmaceuticals and chips
US PRESIDENT Donald Trump said on Tuesday (Feb 18) he intends to impose auto tariffs “in the neighbourhood of 25 per cent” and similar duties on semiconductors and pharmaceutical imports, the latest in a series of measures threatening to upend international trade. On Friday, Trump said levies on automobiles would come as soon as Apr…
Read MoreIntel has biggest rally since 2020 on breakup speculation
INTEL soared 16 per cent on speculation that the iconic chipmaker could be broken up in a deal involving Taiwan Semiconductor Manufacturing Company (TSMC ) and Broadcom. TSMC has discussed the idea of operating Intel’s US factories and owning a controlling stake in the venture, Bloomberg News reported last week. Broadcom, meanwhile, has held informal…
Read MoreUS: Wall St opens higher with Fed policy, Trump tariffs in focus
WALL Street’s main indexes opened higher on Tuesday (Feb 18), as investors focused on potential tariff developments and the US Federal Reserve’s interest-rate strategy following last week’s drop in Treasury yields. The Dow Jones Industrial Average rose 37.8 points, or 0.08 per cent, at the open to 44583.91. The S&P 500 rose 7.0 points,…
Read MoreParkson Retail Asia reports S$5.8 million in Q4 profit
Earnings per share for its continuing operations stands at S$0.0086, down from S$0.0116 previously DEPARTMENT store operator Parkson Retail Asia posted net profit of S$5.8 million for the fourth quarter ended Dec 31, down 26.3 per cent from S$7.8 million the year before. The figure excludes its discontinued operations. Revenue for the quarter went up…
Read MoreEx Parte Hearing? Don’t Panic, Read This First
Getting a notice for an ex parte hearing can feel overwhelming, especially if you’re unfamiliar with the process. But don’t let the legal jargon or urgency throw you off. These hearings are often about addressing emergencies, and there are steps you can take to handle them effectively. Let’s break this down so you know what…
Read MoreRobinhood expects to launch crypto products in Singapore in 2025
ROBINHOOD Markets plans to launch Singapore crypto offerings in 2025 through an entity of European digital-assets exchange Bitstamp, which it recently acquired. The company intends to roll out the services with guidance from local regulators by late 2025, although it has not yet set a launch date, said Johann Kerbrat, vice-president and general manager of…
Read MoreAsia: Tech rally helps Hong Kong lead markets higher
HONG Kong resumed its tech-led rally on a healthy day for Asian markets on Tuesday (Feb 18) as a meeting between President Xi Jinping and China’s top business leaders fanned hopes that a years-long crackdown on the private sector is coming to an end. The Hang Seng Index’s gains extended an impressive start to the…
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