Posts by Stephanie Irvin
Apple results top Wall Street targets on strong iPhone sales, shares slip on outlook
APPLE’S AI-enhanced iPhone made a strong start, helping push quarterly sales ahead of Wall Street expectations, but questions about whether the rollout will continue apace were underscored by a modest revenue forecast. A decline in China sales during the fourth quarter also concerned some analysts and investors, helping send shares down about 2 per cent…
Read MoreEquity-focused gold ETFs may miss out on market tailwinds
BULLION-BACKED exchange-traded funds (ETFs) have been gaining traction, as they ride on the strong price momentum of the yellow precious metal. However, market watchers noted that prices of gold ETFs – while tied to commodity prices – also depend on whether they are commodity-focused or equity-focused. Gold-backed ETFs reverted to net inflows in the third…
Read MoreAbu Dhabi firms to launch tokenised US Treasuries fund
ABU Dhabi firms Realize and Neovision Wealth Management have launched an investment vehicle that will buy units of exchange traded funds (ETFs) focused on US Treasury Bills and convert these assets into digital tokens that can be held, traded and transferred on a blockchain. The fund is called Realize T-BILLS Fund and it will buy…
Read MoreBlackRock gets nod from Saudi Arabia for regional HQ in Riyadh
BLACKROCK received approval from Saudi Arabia to set up its regional headquarters in Riyadh, the latest sign that the kingdom is having some success in attracting more financial firms to set up bases in the country. With the move, BlackRock will be able to expand its operations across the Middle East, according to a statement.…
Read MoreTrafigura facing US$1.1 billion hit in Mongolia after fraud probe: sources
Trafigura Group is preparing to take a US$1.1 billion hit after discovering what it suspects was fraud involving employees in its Mongolian oil business, according to people familiar with the matter. The loss, which could also force the commodity trading giant to restate prior earnings, comes less than two years since Trafigura rocked the industry…
Read MoreAustralian consumer regulator sues Singtel’s Optus over alleged sales misconduct
THE Australian Competition and Consumer Commission (ACCC) has filed court proceedings against subsidiary Optus mobile, said Singtel in a bourse announcement on Thursday (Oct 31). The court proceedings, filed in the Federal Court of Australia, alleged that Optus mobile acted unconscionably in its dealings with about 429 customers. Optus is reviewing the matters raised and…
Read MoreEurope: Stoxx 600 hits 1-month low as bleak earnings weigh, tech stocks slump
Europe’s main stock index fell 1 per cent to its lowest in over a month on Wednesday (Oct 30), as technology and mining stocks led a broader market decline in the aftermath of disappointing corporate earnings and some key economic data. The pan-European Stoxx 600 closed 1.3 per cent lower, having hit its lowest level…
Read MoreChina Life says profit jumps as market rally lifts returns
CHINA Life Insurance said profit surged 174 per cent in the first nine months of the year as a rally in the nation’s stock market bolstered investment returns. Net income rose to 104.5 billion yuan (S$19.4 billion) this year through Sep 30, from a revised 38.2 billion yuan a year earlier, the Beijing-based company said…
Read MoreGoTo’s Q3 losses narrow to 1.7 trillion rupiah as user figures rise
GOTO Group narrowed its losses by 29 per cent to 1.7 trillion rupiah (S$143.1 million) for the third quarter ended Sep 30, 2024, from 2.4 trillion rupiah a year ago. This came as revenue climbed 8 per cent to 3.9 trillion rupiah, from 3.6 trillion rupiah over the same period a year earlier. GoTo’s group…
Read MoreNikkei closes at 2-week peak as tech shares track Nasdaq higher
Japan’s Nikkei share average rose to a two-week closing high on Wednesday (Oct 30), as technology stocks tracked the Nasdaq’s record finish overnight. The Nikkei climbed 0.96 per cent to 39,277.39, its highest close since Oct 15 in its third straight session of gains. The broader Topix rose 0.81 per cent to 2,703.72. “There were…
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