Posts by Yurie Miyazawa
NBA signs broadcasting deal with Disney, Amazon, Comcast worth US$77 billion
WALT Disney’s ESPN, Comcast-owned NBCUniversal and Amazon.com have clinched the rights to carry National Basketball Association (NBA) games in an 11-year deal valued at US$77 billion, the league said on Wednesday (Jul 24). The NBA rejected a last-minute offer from Warner Bros Discovery’s (WBD) TNT Sports division, which it said fell short of Amazon’s proposal,…
Read MoreNvidia supplier SK Hynix posts highest profit in six years on AI boom
SOUTH Korea’s SK Hynix posted its highest quarterly profit since 2018 on Thursday (Jul 25) as the Nvidia supplier said second-half artificial intelligence (AI) chip demand will rise further, such as for high bandwidth memory (HBM) used in generative AI chipsets. It was SK Hynix’s third consecutive quarterly profit after losses last year. The world’s…
Read MoreShein to open pop-up store in South Africa to woo more shoppers
FAST-FASHION giant Shein, known for its US$5 tops and US$10 dresses, will open a pop-up store in Johannesburg, South Africa in August as the online retailer aims to expand its brand recognition in the country. Shein, founded in China, and its rival Temu have aggressively expanded worldwide as online shopping has surged after the Covid…
Read MoreOil prices finish higher as US oil, fuel inventories ease
OIL prices settled higher on Wednesday (Jul 24), supported by large declines in US crude and fuel stocks, but hovered close to their lowest level in six weeks due to concerns over weak global demand. Prices snapped three straight sessions of decline on falling US crude and fuel inventories, as well as growing oil supply…
Read MoreUnited Overseas Insurance declares S$0.085 dividend on higher H1 2024 earnings
UNITED Overseas Insurance (UOI) reported an 18.8 per cent growth in its earnings for the first half of 2024 to S$14.2 million, from S$11.9 million in the first half of 2023. In a bourse filing on Wednesday (Jul 24), the insurer reported a 9.8 per cent rise in revenue for the first half to S$51…
Read MoreDigital Core Reit H1 2024 DPU falls due to divested properties
DIGITAL Core Real Estate Investment Trust (Reit) reported a 6.3 per cent fall in distribution per unit (DPU) to US$0.018 for the first half of 2024 from US$0.0192 in H1 2023. In a bourse filing on Wednesday (Jul 24), the data centre Reit’s manager announced that the Reit’s revenue for the same time period fell…
Read MoreMAS proposes relaxed leverage requirements for S-Reits
THE Monetary Authority of Singapore (MAS) on Wednesday (Jul 24) published a consultation paper proposing to simplify leverage requirements for all real estate investment trusts (Reits). Under the proposal, all Reits will be subject to a minimum interest coverage ratio (ICR) threshold of 1.5 times, and an aggregate leverage limit of 50 per cent. Commenting…
Read MoreMAS proposes simplified leverage requirements for S-Reits, imposes minimum ICR threshold of 1.5 times
THE Monetary Authority of Singapore (MAS) on Wednesday (Jul 24) published a consultation paper proposing to simplify leverage requirements for all real estate investment trusts (Reits). Under the set of proposals, all Singapore Reits, or S-Reits, will be subject to a minimum interest coverage ratio (ICR) threshold of 1.5 times, and an aggregate leverage limit…
Read MoreSM Teo warns businesses about ‘just-in-case’ costs amid climate change, supply chain glitches
Separately, Temasek chief urges Asean to tap opportunities in the green economy and India COMPANIES may have to contend with “just-in-case” costs while building resilience against global challenges, which range from climate change to supply-chain disruptions, said Senior Minister Teo Chee Hean on Wednesday (Jul 24). Speaking to business leaders at the Singapore Apex Business…
Read MoreBrokers’ take: RHB initiates coverage on Elite UK Reit with ‘buy’ call
RHB has initiated coverage on Elite UK Real Estate Investment Trust (Reit) with a “buy” recommendation and a target price of £0.31, which implies a yield of 11 per cent. The research team attributed the call to the Reit’s firm recovery path, after the trust addressed key issues of lease renewal, gearing and debt refinancing. …
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