Posts by Yurie Miyazawa
Cathay out from government shadow as Covid loan set to be repaid
Although travel is booming and plane seats are mostly full, passenger traffic at Cathay still is not back to what it was before the pandemic HONG Kong’s Cathay Pacific Airways marked up another key Covid recovery milestone on Friday (Jul 5), announcing that it will buy back the remaining half of the HK$19.5 billion (S$3.4…
Read MoreDBS fined by Hong Kong for violating anti-money laundering rules
DBS Group Holdings was fined HK$10 million (S$1.72 million) by Hong Kong’s regulator for lapses in adhering to anti-money laundering and counter-terrorist financing regulations. The disciplinary action follows an investigation by the Hong Kong Monetary Authority (HKMA) of DBS Hong Kong’s systems and controls for compliance, the regulator said in a statement. The lapses took…
Read MoreFoxconn Q2 revenue beats market forecast on AI server demand
Taiwan’s Foxconn, the world’s largest contract electronics maker and Apple’s biggest iPhone assembler, posted on Friday (Jul 5) better-than-expected quarterly revenue on AI server demand, and forecast continued growth in the current quarter. The third quarter is traditionally the start of the season for Taiwan’s tech companies to race to supply smartphones, tablets and other…
Read MoreUK election brings few hopes or fears to cautious City of London
THE UK financial sector is warming to Labour’s pro-business overtures and pledges to provide stability and support, but many in the City remain wary it could be targeted to prop up Britain’s stretched public finances further down the line. Under leader Keir Starmer, the Labour Party – expected to win Thursday’s UK election – has…
Read MorePound steady as UK’s Labour heads for landslide; Singapore stocks with British portfolios mixed
THE sterling pound strengthened slightly on Friday morning (Jul 5) as the Labour party headed for a resounding landslide in the United Kingdom general election. The British currency was trading at US$1.2770, up 0.1 per cent, as at 11.27 am. Exit polls after voting closed signalled that the opposition Labour was set to unseat the…
Read MoreApac investment banking fees down 25% to US$9.3 billion in H1 2024: LSEG
THE Asia-Pacific region, excluding Japan, recorded a 25 per cent year-on-year decline in investment banking (IB) fees to US$9.3 billion in the first half of 2024. This was the lowest H1 figure in the region since 2016, based on a report by the London Stock Exchange (LSEG) released on Friday (Jul 5). Fees generated in…
Read MoreChina’s PBOC readies multibillion-yuan pool of bonds to sell by tapping major banks
CHINA’S central bank took the next step towards selling government bonds to cool a record-breaking rally, saying it now has “hundreds of billions” of yuan of the securities at its disposal through agreements with lenders. After months of investor speculation about its intentions, the People’s Bank of China (PBOC) disclosed the clearest outline yet of…
Read MoreHo Bee Land prices S$160 million in green notes due 2029 at 4.35%
HO BEE Land priced S$160 million in fixed-rate green notes due 2029 at 4.35 per cent, it said on Friday (Jul 5). The notes fall under the real estate group’s S$800 million multi-currency medium-term note programme. Ho Bee Land expects to issue the notes on Jul 11, 2024, which will mature on Jul 11, 2029. Net…
Read MoreBNP, UBS are said to show interest in HSBC’s German wealth unit
HSBC Holdings’s sale of its German wealth-management unit is attracting initial interest from peers including BNP Paribas and UBS Group, sources familiar with the matter said, as the London-listed lender looks to streamline its global footprint. Julius Baer Group is also among those studying the business, which could be valued at 300 million euros (S$438…
Read MoreChina’s EV makers Nio, XPeng commit to EU market despite tariffs
CHINA’S electric car makers Nio and XPeng said on Thursday (Jul 4) they had no plans to quit the European market after the European Union imposed tariffs on Chinese-made electric vehicles (EVs). The EU slapped extra provisional duties of up to 38 per cent on the EV imports because of “unfair” state subsidies, despite Beijing’s…
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