Posts by Yurie Miyazawa
India’s Andhra Pradesh state likely to suspend Adani power deal
India’s Andhra Pradesh state is likely to suspend a power purchase deal linked to Adani Group due to the US indictment of the group’s billionaire founder Gautam Adani over an alleged bribery scheme, two state government sources said. The southern state will ask the federal government and the Solar Energy Corporation of India (SECI), which…
Read MoreCitigroup slashes promotions as it seeks to overhaul bank, FT reports
CITIGROUP is cutting the number of year-end promotions it awards as it seeks to hold costs down amid a long-term restructuring to shrink headcount, the Financial Times reported on Tuesday (Nov 26). Managers have been told that as many as 2,000 Citi employees could get promotions, with pay hikes limited to 15 per cent, in…
Read MoreIndonesia rejects Apple’s US$100 million investment offer
INDONESIA has rejected an Apple US$100 million investment proposal aimed at lifting a ban on iPhone 16 sales, saying it lacks the “fairness” required by the government. Indonesia last month prohibited the marketing and sale of the iPhone 16 model over Apple’s failure to meet local investment regulations requiring that 40 per cent of phones…
Read MoreThai banks’ bad loans highest in nearly 3 years, but manageable: central bank
THAI banks’ non-performing loans (NPLs) rose to 2.97 per cent of outstanding loans at the end of September, the highest level in nearly three years, the central bank said on Tuesday (Nov 26). The increase, from 2.84 per cent at the end of June, was partly due to a decline in the loan base and…
Read MoreRoche to acquire cell therapy maker Poseida Therapeutics in US$1.5 billion deal
SWITZERLAND’S Roche will acquire its US collaboration partner Poseida Therapeutics in a cash deal worth up to US$1.5 billion, banking on complex immune cell therapies against several types of blood cancer. Roche will pay US$9 per share in cash and stockholders will also receive a non-tradeable contingent value right for up to US$4 per share…
Read MoreMaybank’s Q3 net profit rises 7.6% to 2.5 billion ringgit
MAYBANK’s net profit for the third quarter ended Sep 30, 2024, amounted to 2.5 billion ringgit (S$770 million), up 7.6 per cent from 2.4 billion ringgit in the previous corresponding period. Profit before tax for the recorded period amounted to 3.4 billion ringgit, up 7.8 per cent from 3.2 billion ringgit previously. Net…
Read MoreDuo charged with false trading of EuroSports shares under Securities and Futures Act
Individuals convicted under this section of the Act face imprisonment of up to seven years, a fine not exceeding S$250,000, or both TWO individuals were charged with false trading offences under Section 197(1)(b) of the Securities and Futures Act (SFA) on Monday (Nov 25). Individuals convicted of a charge under this section of the SFA…
Read MoreHaidilao operator Super Hi swings back to black with US$37.7 million Q3 net profit
HAIDILAO restaurant operator Super Hi International posted a net profit of US$37.7 million for the third quarter ended Sep 30, reversing its net loss of US$1.4 million over the same period the year before. Revenue for Q3 rose 14.6 per cent to US$198.6 million, from US$173.3 million in the year-ago period. Earnings per share for…
Read MoreNissan falls on report of further production cuts, tariff threat
NISSAN Motor shares fell on Tuesday (Nov 26) after reports the struggling automaker plans to cut production in the US, and President-elect Donald Trump touted plans to impose tariffs on imports from Mexico and Canada, where the carmaker has factories. The stock fell as much as 4.9 per cent in early Tokyo trading, before paring…
Read MoreAustralian stock exchange targets 2029 for phase two of trading software overhaul
AUSTRALIAN bourse operator ASX said on Tuesday (Nov 26) it aimed to implement the second phase of its clearing and settlement software overhaul by 2029, with projected costs ranging between A$270 million (S$236 million) and A$320 million. ASX added that it was working towards the delivery of the first release – the clearing service –…
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