Posts by Yurie Miyazawa
Meta accounting move on AI servers to boost profit this year
META Platforms made a small change last month that’s likely to increase the company’s profit by billions of US dollars this year. It was not the release of a new product or cost cuts. It was a tweak to an accounting formula used to measure the depreciation of its expensive artificial intelligence (AI) infrastructure. …
Read MorePimco opens office in Dubai as asset managers flock to region
PACIFIC Investment Management Co (Pimco) opened a Dubai office, becoming the latest major fund manager to deepen its presence in the Middle East. The Newport Beach, California-based firm, which manages around US$2 trillion, secured a license from the Dubai Financial Services Authority on Wednesday (Feb 12), according to the regulator’s records. “Pimco has a long-standing…
Read MoreOil sinks 2% after Trump calls Putin, Zelensky to discuss end to war in Ukraine
OIL prices settled down more than 2 per cent on Wednesday (Feb 12) after US President Donald Trump took the first big step towards diplomacy over the war in Ukraine he has promised to end, a war that has supported oil prices on concerns about global supplies. Brent futures settled down US$1.82, or 2.36 per…
Read MoreText Marketing: Mobile Money or Major Fail?
Text message marketing is kinda like the new kid on the block for businesses. It’s cheap, easy, and gets the job done better than some of the old-school methods. But hey, it’s not all sunshine and rainbows. Some businesses hit it big, while others? Not so much. They mess up by spamming folks, ignoring the…
Read MoreiFast Q4 net profit up 46.3% to S$19.3 million
DIGITAL bank and wealth management platform iFast has reported a 46.3 per cent increase in net profit to S$19.3 million for the fourth quarter ended Dec 31, 2024, from S$13.2 million in the same period a year ago. Revenue was up 16.4 per cent to S$90 million over the same period, driven by improvement in…
Read MoreDigital Core Reit H2 DPU up 1.1 per cent to US$0.018
DIGITAL Core Real Estate Investment Trust (Reit) posted a distribution per unit (DPU) of US$0.018 for the six months ended Dec 31, 2024, up 1.1 per cent from the year-ago period. The data centre-focused Reit’s revenue for the half-year was up 9.8 per cent year on year at US$54 million, while its net property income…
Read MoreSingapore shares track regional gains; STI up 0.4%
Across the broader market, gainers outnumber losers 347 to 186 after 1.9 billion securities worth S$1.5 billion change hands SINGAPORE shares ended Wednesday (Feb 12) in a positive territory amid regional gains. The benchmark Straits Times Index (STI) was up 0.4 per cent or 13.86 points at 3,874.62. Across the broader market, gainers outnumbered losers 347…
Read MoreIndian central bank’s surprise, outsized intervention eases bearish bias on rupee
THE Indian central bank’s unexpected and decisive intervention in the foreign exchange markets over the past two days, worth as much as US$11 billion by one estimate, has reduced the bearish bias on the currency. The Reserve Bank of India’s (RBI) intervention was brought on by a build-up in bearish bets against the rupee and…
Read MoreGlobalFoundries sinks into the red with US$730 million Q4 loss due to impairment charge
GLOBALFOUNDRIES, which operates a wafer plant in Singapore, sunk into the red with a net loss of US$730 million for its fourth quarter ended Dec 31, 2024, compared with a net profit of US$277 million in the previous corresponding period. The US chipmaker is listed on the Nasdaq exchange. In the fourth quarter, the semiconductor…
Read MoreGlobalFoundries sinks into the red with US$730 million Q4 loss due to impairment charge
GLOBALFOUNDRIES, which operates a wafer plant in Singapore, sunk into the red with a net loss of US$730 million for its fourth quarter ended Dec 31, 2024, compared with a net profit of US$277 million in the previous corresponding period. The US chipmaker is listed on the Nasdaq exchange. In the fourth quarter, the semiconductor…
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