Posts by Stephanie Irvin
Several Singapore companies hit by global IT outage; Changi Airport processes check-ins manually
SEVERAL companies in Singapore were hit by a global IT outage on Friday (Jul 19) afternoon. The websites of several companies appeared unable to load from around 2 pm. In response to queries from The Business Times, Changi Airport said that the check-in process for some airlines was being managed manually. “Changi Airport ground staff…
Read MoreSeveral Singapore companies hit by global IT outage; over 10 airlines at Changi Airport affected
SEVERAL companies in Singapore were hit by a global IT outage on Friday (Jul 19) afternoon. The websites of several companies appeared unable to load from around 2 pm. In response to queries from The Business Times, Changi Airport said more than 10 airlines were affected during the outage. “We worked with our airport partners…
Read MoreSingapore shares fall at Friday’s open tracking global retreat; STI down 0.6%
SINGAPORE stocks opened weaker on Friday (Jul 19) following overnight losses on Wall Street and Europe amid a selloff on technology stocks. The Straits Times Index (STI) headed down 0.6 per cent or 20.25 points to 3,450.91 as at 9.01 am. Across the broader market, losers outnumbered gainers 77 to 28, after 39.5 million securities…
Read MoreBlackstone posts modest Q2 profit jump on private equity, credit gains
BLACKSTONE said on Thursday (Jul 18) its second-quarter distributable earnings rose 3 per cent from a year earlier, as a jump in asset sales in its private equity and credit divisions more than offset a slump in its real estate arm. The New York-based investment firm’s results underscore how a long spell of high interest…
Read MoreDBS launches generative AI virtual assistant for customer service workforce
CUSTOMER service officers at DBS will all soon be able to use a generative artificial intelligence (AI)-powered virtual assistant to serve customers more efficiently and effectively. The virtual assistant, named CSO Assistant, was developed in-house by the bank’s AI engineers, using a large-language model tailored to local languages and parlance with voice telephony and speech…
Read MoreECB keeps rates unchanged, offers no guidance on next move
THE European Central Bank (ECB) kept interest rates unchanged as expected on Thursday (Jul 18) and gave no hints about its next move, arguing that domestic price pressures remain high and inflation will be above its target well into next year. ECB chief Christine Lagarde refused to commit to a possible interest rate cut in…
Read MoreSingapore AUM up 10% to S$5.4 trillion in 2023; new debt issues rise 21%
SINGAPORE’s financial sector had a good showing in 2023 with a 10 per cent growth in asset under management (AUM) to S$5.41 trillion as at Dec 31, 2023, while the corporate debt market also grew strongly, with new issuances rising 21 per cent to S$230 billion in 2023. Private markets have also grown strongly over…
Read MoreTSMC rides AI demand to raise revenue forecast, says no to US joint venture
TAIWAN’S TSMC, the world’s largest contract chipmaker, raised its full-year revenue forecast on Thursday (Jul 18) given surging demand for chips used in artificial intelligence, and rejected the idea of a joint venture factory in the US. Taiwan Semiconductor Manufacturing Co (TSMC), a major Apple and Nvidia supplier, has benefited from the global AI boom…
Read MoreGold holds ground on US rate cut hopes
GOLD prices held steady on Thursday (Jul 18) after hitting a record peak in the previous session amid rising expectations of a US rate cut in September. Spot gold was little changed at US$2,459.47 per ounce, as at 0051 GMT. Prices hit an all-time high of US$2,483.60 on Wednesday. US gold futures rose 0.1 per…
Read MoreSettlement speculation pushes XRP to forefront of crypto rally
A LITTLE-KNOWN cryptocurrency that is at the centre of a key legal fight for the industry is leading the latest rally in digital assets amid speculation that the company behind it may soon reach a settlement with US regulators. XRP has rallied almost 40 per cent in the past week to around 60 US cents,…
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