Posts by Stephanie Irvin
Philippine bourse sees up to US$2.4 billion fundraising in 2025
THE Philippine Stock Exchange (PSE) expects fundraising activities to grow next year with more companies looking to go public, as the bourse pins hopes on another interest rate cut to perk up the market. “We probably will hit less than 80 billion pesos of capital raising this year. Next year, easily, we could do 120…
Read MorePhilippine bourse sees up to 140b pesos of fundraising in 2025
THE Philippine Stock Exchange (PSE) expects fundraising activities to grow next year with more companies looking to go public, as the bourse pins hopes on another interest rate cut to perk up the market. “We probably will hit less than 80 billion pesos of capital raising this year. Next year, easily, we could do 120…
Read MoreHong Kong’s private wealth assets rise for first time since 2020
HONG Kong’s total private wealth assets under management rose slightly last year to about HK$9 trillion (S$1.6 trillion), the first annual growth since 2020, according to a report released on Friday (Nov 22). Inflows of about HK$341 billion last year were about three times higher than in 2022, according to the report by the city’s…
Read MoreSMIC’s Nvidia-beating 120% stock rally faces chip war threats
SEMICONDUCTOR Manufacturing International Corporation’s (SMIC) stock has more than doubled over the past two months on an expected boost from China’s self-reliance push, even amid risks tied to competition and geopolitical tensions. Shanghai-listed shares of China’s largest outsourced chipmaker are up 120 per cent from a September low, trouncing global sector names including Nvidia and…
Read MoreBRC Asia H2 profit rises 11% to S$55 million on sale of associate
STEEL solutions provider BRC Asia posted an 11 per cent rise in net profit to S$55 million for its second half ended Sep 30, 2024, from S$49.5 million in the same period a year earlier. Earnings per share stood at 20.05 Singapore cents for the half-year period, up from 18.05 cents the previous year. Revenue…
Read MoreTemu-owner PDD misses market estimates for Q3 revenue on weak consumer spending
CHINA’S PDD Holdings fell short of market estimates for third-quarter revenue on Thursday (Nov 21), in a sign that promotional offers and discounts were not enough to lure cost-conscious consumers to its e-commerce platform. PDD’s US-listed shares fell more than 14 per cent in premarket trading. Higher unemployment rate among youth and a property sector…
Read MoreAdani Group Counters “Baseless” US Bribery Allegations; Chooses Legal Recourse
The Adani Group, a global business conglomerate, has strongly refuted allegations of bribery brought forth by the U.S. Department of Justice (DoJ) and the Securities and Exchange Commission (SEC). The charges, which claim that key executives, including Gautam Adani, were involved in bribery schemes related to solar energy contracts, have been labeled as “baseless” by…
Read MoreAramco to take on more debt, focus on dividend growth
Saudi Arabian Oil plans to take on more debt and will focus on “value and growth” for its dividend, the company’s finance chief said. “You’ll see us do a couple of things. One is, just take on more debt compared with use of equity,” chief financial officer Ziad Al-Murshed said in an interview in Boston.…
Read MoreUS indictments scythe US$34 billion from value of India’s Adani Group firms
FIRMS of India’s Adani Group conglomerate lost as much as US$34 billion in market value on Thursday (Nov 21) after US prosecutors charged its billionaire chairman in an alleged bribery and fraud scheme. Gautam Adani’s flagship Adani Enterprises tumbled as much as 23 per cent to its lowest since Nov 2023 for its worst one-day…
Read MoreIndia’s Adani Group sees US$22 billion in value wiped off after US indictments
SHARES of Adani Group companies lost about US$22 billion in market value in early trade on Thursday (Nov 21) after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme. Gautam Adani’s flagship company Adani Enterprises fell 10 per cent, while Adani Ports, Adani Total Gas, Adani Green,…
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