Posts by Yurie Miyazawa
Singapore shares retreat at Friday’s open; STI down 0.2%
SINGAPORE shares started trading in negative territory on Friday (Jan 17), tracking overnight losses in US markets. As at 9.01 am, the Straits Times Index (STI) opened 0.2 per cent or 7.67 points lower at 3,793.46. Across the broader market, losers outnumbered gainers 43 to 40 after 17.4 million securities worth S$41.8 million changed hands.…
Read MoreGoldman rakes in record wealth revenue from ultra-rich in Asia
GOLDMAN Sachs’s revenue from its Asia-Pacific wealth unit hit a record last year as ultra-rich clients turned to the bank to navigate volatile markets and political tension, according to a regional executive. The ultra wealthy have become less “self-directed” with a shift towards diversification and globalisation, Ronald Lee, a Goldman partner who leads the firm’s…
Read MoreSurprise Asian central bank moves show impact of US dollar rampage
A SURPRISE interest-rate cut in Indonesia and signs the Reserve Bank of India may be willing to loosen its tight grip on the rupee may be an indication that central banks’ defence against a strong US dollar is cracking. Asian central banks have been shielding their currencies through interventions in the face of the greenback’s…
Read MoreMicrosoft bets Office subscribers will pay 30% more for AI tools
MICROSOFT is raising the price of its package of Office apps for consumers, a bet that subscribers will be willing to cough up more for access to new artificial intelligence (AI) tools. The Microsoft 365 family subscription, which offers access to Word, Excel and other apps for as many as six people, will now cost…
Read MoreCEO of Temasek’s Azalea to retire, with CIO set to succeed her
CEO Margaret Lui’s retirement will mark the end of her 40-year career with the Temasek group Azalea Investment Management’s chief executive officer Margaret Lui will retire on Mar 31. Chief investment officer Chue En Yaw will take the helm while retaining his CIO responsibilities, effective from Apr 1, Azalea said on Thursday (Jan 16). Lui,…
Read MoreBP cuts over 5% of workforce in CEO cost cut drive
BP announced on Thursday (Jan 16) that it will cut around 4,700 staff, or over 5 per cent of its total workforce, as part of CEO Murray Auchincloss’ efforts to reduce costs. BP told staff that 3,000 contractor positions will also be cut, according to a statement to Reuters. The cuts were announced in an…
Read MoreAlliance Bank’s top shareholder Vertical Theme is said to consider sale to DBS
INVESTMENT management firm Vertical Theme is planning to seek approval in the coming weeks to start talks about selling its stake in Alliance Bank Malaysia, according to people familiar with the development. Vertical Theme, a Malaysian holding company, is considering selling its roughly 29 per cent stake in Alliance Bank to Singapore’s biggest lender, DBS…
Read MoreSias questions Fu Yu board on controlling shareholder’s bid to remove IDs due to company’s performance
THE Securities Investors Association (Singapore), or Sias, has asked precision plastics manufacturer Fu Yu Corporation’s board to substantiate the claim by the largest shareholder Victor Lim that the company’s independent directors (IDs) should be removed due to company performance. In its questions Fu Yu’s board on Thursday (Jan 16), the association noted that IDs are…
Read MoreSimba gains ground against incumbent telcos in 2024: Opensignal
SIMBA has gained about two subscribers from incumbent mobile network operators (MNOs) for every subscriber lost, suggesting that the latest entrant has been competitive in Singapore’s crowded wireless market. In a report released on Jan 14, mobile network analytics company Opensignal found that Simba performed the best against StarHub, gaining 2.4 subscribers for every subscriber…
Read MoreDBS may declare special dividend of S$0.50 a share, raise ordinary DPS to S$0.60: CGSI
DBS may declare a special dividend of S$0.50 a share for the fourth quarter of FY2024 as well as raise its ordinary dividend per share to S$0.60, said CGS International in a report on Tuesday (Jan 14). Reiterating its “hold” call on the bank, the securities company maintained its target price at S$43, which is…
Read More