Posts by Yurie Miyazawa
iFAST Q2 earnings surge 346% on ePension contribution
DIGITAL bank and wealth management platform iFAST Corporation reported a 346.1 per cent rise in Q2 2024 earnings to S$16 million, from S$3.6 million in Q2 2023. In a bourse filing on Thursday (Jul 25), the company also reported that revenue for the same period rose in tandem, up 63.2 per cent to S$84 million…
Read MoreApple’s China market share shrinks as Huawei surges, data shows
APPLE’S market share in China shrank by two percentage points in the second quarter of 2024, as the tech giant faced intensifying competition from rivals like Huawei, according to data from market research firm Canalys. The decline underscores the difficulties the US tech giant faces in its third-largest market. Huawei’s smartphone shipments surged 41 per…
Read MoreAmerican Airlines cuts annual profit forecast on pricing pressures
AMERICAN Airlines cut its annual profit forecast on Thursday (Jul 25) as uneven demand trends and overcapacity in certain markets dampened the carrier’s pricing power, sending its shares down 8 per cent in premarket trading. A rush among airlines to cash in on strong summer travel demand has forced them to offer tickets at a…
Read MoreSingapore stocks track regional declines on Thursday; STI down 0.9%
Across the broader market, losers outnumber gainers 372 to 220, as 1.1 billion securities worth S$1.2 billion change hands SINGAPORE shares ended lower on Thursday (Jul 25), tracking losses in the region. The benchmark Straits Times Index (STI) fell 0.9 per cent or 30.37 points to 3,430.45. Across the broader market, losers outnumbered gainers 372…
Read MoreSingtel unit Nxera and Telkom Malaysia break ground for 65 MW data centre campus in Johor
SINGTEL’S data centre arm, Nxera, and Telkom Malaysia (TM) on Thursday (Jul 25) broke ground for a data centre campus in Iskandar Puteri in Johor. The campus will house a 65 megawatt (MW) data centre that will support artificial-intelligence processing and other computing needs. The facility is scheduled to begin commercial operations in 2026, and…
Read MoreDigital bank Revolut secures UK banking licence
BRITISH fintech company Revolut said on Thursday (Jul 25) it had obtained a long-awaited UK banking licence – but must wait to lend money and take deposits as it remains in a restrictive phase. The licence granted by regulators linked to the Bank of England will allow Revolut to eventually compete better with established UK…
Read MoreLG Display shrinks quarterly loss on Apple, Olympics demand
SOUTH Korean flat-screen maker LG Display narrowed losses from a year earlier in the June quarter as shipments of new panels for client Apple and TV panels before the Olympics improved profitability, analysts said. The Apple supplier posted an operating loss of 94 billion won (S$91 million) for the April to June quarter, beating an…
Read MoreCordlife’s overseas subsidiaries obtain re-accreditations
CORDLIFE on Thursday (Jul 25) said its Hong Kong and Malaysian subsidiaries received re-accreditations from the Association for the Advancement of Blood & Biotherapies. The association sets standards for blood banking, transfusion medicine, blood management and cellular therapies. Cordlife Hong Kong obtained its seventh re-accreditation, while Malaysia-based StemLife received its fourth, said the group. StemLife…
Read MoreAustralia’s Fortescue to step up energy spending despite job cuts
AUSTRALIA’S Fortescue said on Thursday (Jul 25) it will increase spending on its energy division to advance several new green hydrogen projects next year, disappointing analysts who had expected a company restructure to lower its capital outlay. The world’s fourth-largest iron ore miner has brought its metals and green energy businesses back together after it…
Read MoreAir fare pain eases as pricing power swings back to passengers
QANTAS Airways, not known for usually offering big discounts, has cut prices more than six times this year. Virgin Australia is averaging at least one fare sale a month. Even Ryanair Holdings, which practically invented affordable European air travel, said flights are getting cheaper. Passengers around the world are winning some respite from the fare…
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