Posts by Stephanie Irvin
Korean Air completes Asiana takeover to form one of Asia’s biggest airlines
KOREAN Air said on Thursday (Dec 12) it had completed its protracted purchase of South Korean rival Asiana Airlines, making it one of Asia’s biggest carriers. The 1.8 trillion won (S$1.7 billion) deal, the longest-ever merger to complete between airlines, was first announced four years ago by South Korea’s largest carrier to rescue debt-laden Asiana,…
Read MoreUOBKH initiates ‘buy’ call on Oiltek with S$1.22 target price on strong order book
UOB Kay Hian (UOBKH) has initiated a “buy” call on vegetable and edible oil engineering process company Oiltek, with a target price of S$1.22. Oiltek is trading at 15 times based on FY2025 estimates, which is at a discount of about 25 per cent as compared to its peers’ average of 21 times. In…
Read MoreIFC, HSBC inks US$1 billion risk-sharing facility to boost trade financing in emerging markets
The two will equally share the risk on a portfolio of trade-related assets held by emerging-market banks in 20 countries THE International Finance Corporation (IFC), the World Bank’s private finance arm, and HSBC Holdings announced on Thursday (Dec 12) the signing of a US$1 billion risk-sharing facility to help banks in emerging markets increase lending…
Read MoreBank of America promotes 387 employees to managing director: source
Bank of America (BOA) has promoted 387 employees to managing director roles in 2024, 16 per cent more than last year, a source familiar with the matter said on Wednesday (Dec 11). More than half of those promoted included women and people of colour for the fifth consecutive year, the source said requesting anonymity, without…
Read MoreAdobe forecasts fiscal 2025 revenue below estimates on slower subscription spending
PHOTOSHOP maker Adobe forecast fiscal 2025 revenue below Wall Street estimates on Wednesday (Dec 11), indicating the company’s investments to weave artificial intelligence (AI) into its software applications were taking longer to bear fruit. Shares of the San Jose, California-based company fell over 8 per cent in extended trading. The company forecast revenue between US$23.30…
Read MoreStability, rich talent pool in South-east Asia drive double-digit growth for Citi across inter-Asean trade corridors
Governments in the region are welcoming of supply chain shifts, says the bank’s co-head of corporate banking THE South-east Asia region is favoured for its relative stability, geographic location and talent pool, which make it a good region for businesses to diversify their supply chains, said Jason Rekate, co-head of corporate banking at Citi. He…
Read MoreTrek 2000 International chairman Wayne Tan and ex-chairman Henn Tan named in legal dispute with Osim founder
Ron Sim alleges the two made fraudulent misrepresentations before he acquired shares of Trek 2000 in 2015 THE CURRENT and former chairmen of mainboard-listed technology company Trek 2000 International (Trek) have been named in a legal letter of demand from Ron Sim and Osim International. In a bourse filing on Wednesday (Dec 11), Trek said…
Read MoreZara owner Inditex’s sales growth slows as holiday shopping begins
INDITEX, the owner of Zara, reported slower sales growth at the outset of the crucial holiday shopping season. The Arteixo, Spain-based retailer said revenue, excluding currency swings, grew 9 per cent in the five weeks to Dec 9, compared with 14 per cent a year earlier. It was also slower than the 10.5 per cent…
Read MoreTikTok Shop goes live for Spain, Ireland in Europe rollout
TIKTOK’S in-app shopping feature has gone live for users in Spain and Ireland, marking the first steps in an expansion of ByteDance’s fastest-growing business across Europe. TikTok Shop officially debuted in the two countries on Tuesday (Dec 10) after a clutch of creators set up digital stores and linked products from electric fryers to health…
Read MoreWhy Do Firefighters Get Paid So Little?
Firefighters play a crucial role in our communities, risking their lives to keep us safe. However, many people wonder, “Why do firefighters get paid so little?” This article explores the reasons behind the low salaries of firefighters, the impact on their morale, and possible solutions to improve their compensation. Key Takeaways The average salary for…
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