Posts by Yurie Miyazawa
Opec again cuts 2024, 2025 oil demand growth forecasts
OPEC cut its forecast for global oil demand growth in 2024 and lowered its projection for next year on Tuesday (Nov 12), highlighting China, India and other regions, marking the producer group’s fourth consecutive downward revision. The weaker outlook highlights the challenge facing Opec+, which comprises the Organization of the Petroleum Exporting Countries and allies…
Read MoreCortina’s H1 net profit falls 10% to S$27.8 million as operating expenses outpace revenue growth
Competitor and luxury watch retailer The Hour Glass also reports a 20% decrease in earnings LUXURY watch retailer Cortina posted a 10 per cent drop in net profit to S$27.8 million for the first half of its 2025 fiscal year, down from S$30.9 million in H1 FY2024. The decrease in net profit was due to…
Read MoreBoustead Singapore posts 34% higher H1 profit of S$36 million
INFRASTRUCTURE-RELATED engineering and technology group Boustead Singapore posted a 34 per cent rise in net profit to S$36 million for its first half of FY2025 ended Sep 30, 2024. The increase in net profit from S$26.9 million in the previous year was mainly due to higher gross profit and interest income, said the mainboard-listed company…
Read MoreInvestors yank cash from China ETFs following Trump victory
MONEY managers pulled cash from exchange-traded funds that buy Chinese stocks last week as Donald Trump’s election victory stoked the risk of tougher tariffs, while stimulus measures failed to reassure investors that China can weather the coming storm. The US$9.5 billion iShares China Large-Cap ETF, known by its ticker FXI, saw US$315 million in…
Read MoreInfineon forecasts sales decline on sluggish car chip demand
INFINEON Technologies forecast revenue will decline in the 2025 fiscal year, missing analyst estimates, in a sign that demand from automotive customers in Europe and the US will remain depressed. The German chipmaker expects revenue will “slightly decline” from the year that ended in September, when the company made 14.96 billion euros (S$21.3 billion),…
Read MoreAlibaba, JD tout Singles Day highs even as China’s economy sags
CHINA’S biggest ecommerce platforms issued a welter of numbers showing robust growth during the country’s biggest online shopping event of the year, belying concerns about consumer malaise dogging the world’s No. two economy. Alibaba Group Holding, JD.com and gadget maker Xiaomi on Tuesday (Nov 12) announced myriad numbers they say make this year’s Nov 11…
Read MoreComac says Air China is the first customer for C929 widebody jet
Comac said on Tuesday (Nov 12) that Air China was the first customer for the Chinese planemaker’s C929 widebody aircraft under development that is designed to compete with twin-aisle models from Airbus and Boeing. Comac’s deputy director of marketing, Liu Yan, made the announcement at China’s biggest air show in Zhuhai. Liu did not disclose…
Read MoreBrokers’ take: RHB upgrades Bumitama Agri to ‘buy’ on CPO price rally
WITH the continued run-up in crude palm oil (CPO) prices, RHB Research has upgraded its call on palm oil producer Bumitama Agri to “buy” from “neutral” with a higher target price of S$0.95 from S$0.70 previously. The new target price is based on 10 times price-to-earnings multiple based on FY2025 estimates, which RHB noted to…
Read MoreGold hovers near one-month low ahead of US data, Fed speakers
Gold hovered near a one-month low on Tuesday (Nov 12) as investors looked forward to US economic data and comments from Federal Reserve officials for further clarity on the interest rate trajectory. Spot gold was little changed at US$2,622.89 per ounce, as at 0035 GMT, after hitting its lowest since Oct 10 on Monday. US…
Read MoreGrab returns to profit in third quarter, raises 2024 revenue forecast
Group-adjusted Ebitda is US$90 million for the quarter, an improvement of 224% year on year Grab on Tuesday (Nov 12) reported third-quarter earnings that showed it turned back to being profitable in the third quarter, and raised its forecast for its full-year 2024 revenue on expectations of strong growth. It reported profit of US$15 million…
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