Posts by Yurie Miyazawa
OCBC beats forecast with 9% rise in Q3 profit to S$1.97 billion
OCBC’s net profit for the third quarter ended September rose 9 per cent to S$1.97 billion, from S$1.81 billion in the previous corresponding period. The bank on Friday (Nov 8) said this was underpinned by higher non-interest income and lower allowances. The earnings beat the S$1.9 billion consensus forecast in a Bloomberg survey of four…
Read MoreExpedia raises full-year guidance, beats on gross bookings
EXPEDIA Group posted better-than-expected grossing bookings in the third quarter and said it was raising its full-year guidance, suggesting that demand has proven stronger than the company had previously thought heading into the holiday season. Gross bookings across the company’s platforms for hotel, flight, car rental and vacation home reservations totalled US$27.5 billion, above Wall…
Read MoreUS banks to gain from looser capital, merger policies under Trump
THE banking industry is expected to win big as former President Donald Trump returns to the White House, ushering in Republican regulators who are expected to ease capital rules and merger approvals, industry experts and analysts said. The President-elect’s picks are likely to further dilute the contentious Basel III endgame proposal aimed at requiring big…
Read MoreTrump win casts fresh doubts over Wall Street’s China strategy
MORE US financial firms may pull back from China, hive off local units to minimise risks or pause expansion plans on concerns about geopolitical tensions in a Donald Trump presidency, industry executives and analysts said. Mainland China was a lucrative market for Wall Street investment banks and major US asset managers to expand in the…
Read MoreYangzijiang Shipbuilding bags US$11.6 billion worth of order wins in year to date
MARITIME vessel maker Yangzijiang Shipbuilding said that it has secured US$11.6 billion of order wins in the year to date. This exceeds its target of US$4.5 billion for the 2024 financial year by 259 per cent, it noted in a quarterly business update on Thursday (Nov 7). The robust order wins were fuelled by strong…
Read MoreGoing above and beyond: Marina Bay Sands on billion-dollar push to court high-value tourists
FROM Dubai to Macau and across many parts of Asia and Europe, there have been significant investments worth billions of dollars in the luxury segment amid the ongoing battle to court the world’s big spenders. Paul Town, the chief operating officer of Singapore’s Marina Bay Sands (MBS), said there is “a bit of a global…
Read MorePolicy swings a key risk for Asian businesses under a Trump administration: DBS’ Tan Su Shan
Thus it is important for business leaders to remain agile and be ready to pivot quickly when things change, she adds ASIAN corporates will have to stay agile and be ready for policy swings that will likely come out of Donald Trump’s second US presidential term, said Tan Su Shan, deputy chief executive officer at…
Read MoreGenting Singapore Q3 profit dives 63% to S$79.4 million
INTEGRATED resort operator Genting Singapore on Thursday (Nov 7) posted net profit after tax of S$79.4 million for the third quarter ended Sep 30, sliding 63 per cent from S$216.3 million from the corresponding year-ago period. Revenue for the period was down 19 per cent at S$561.9 million from S$689.9 million on-year, the group said…
Read MoreOCBC to make cross-border payments available to over 50 digital wallets by 2026
The bank is starting with Chinese digital wallets Weixin Pay (WeChat Pay) and Alipay OCBC is collaborating with Visa to make cross-border fund transfers accessible to more than 50 digital wallets by 2026, starting with Chinese digital wallets Weixin Pay (WeChat Pay) and Alipay. The lender’s customers can now make peer-to-peer cross-border payments via its…
Read MoreDBS sees upside to 2025 profits under Trump administration
Singapore’s largest lender posts yet another record quarterly net profit of S$3 billion in Q3 DBS expects its pre-tax profits for 2025 will be around 2024 levels, but chief executive Piyush Gupta sees potential upsides to its income under a Donald Trump administration in the US. “The general view is that the Trump regime is…
Read More