Posts by Yurie Miyazawa
BYD sales rise to a record on price cuts, tech upgrades
BYD sold a record number of electric and hybrid cars in the second quarter, sales data compiled by Bloomberg News shows, as price cuts and new technology stoked consumers into purchases. China’s best-selling car brand sold nearly one million models over the period, solidifying a rebound after a slow start to the year. The sales…
Read MoreBYD sales rise to a record on price cuts, tech upgrades
BYD sold a record number of electric and hybrid cars in the second quarter, sales data compiled by Bloomberg News shows, as price cuts and new technology stoked consumers into purchases. China’s best-selling car brand sold nearly one million models over the period, solidifying a rebound after a slow start to the year. The sales…
Read MoreSIA to move out of Airline House to new corporate hub in Upper Changi
SINGAPORE AIRLINES will move out of Airline House from H2 2025, under a multi-year plan to relocate its corporate headquarters. The group’s new corporate headquarters will be in the SIA Training Centre compound in Upper Changi Road, SIA said in response to queries from The Business Times. The hub will comprise a new building, the…
Read MoreApple’s China iPhone shipments jump 40% after steep discounts
APPLE’S iPhone shipments in China rose 40 per cent in May, continuing a recent rebound fuelled by heavy discounting from major retailers in the run-up to the country’s June shopping festival. Smartphone shipments climbed more than 13 per cent but foreign brands – of which Apple comprises the vast majority – grew almost four times…
Read MoreChina’s CCB cuts pay of headquarters staff by at least 10%: sources
CHINA Construction Bank Corp (CCB), the nation’s second-largest commercial bank by assets, has asked employees at its headquarters to take a pay cut of at least 10 per cent, two sources with knowledge of the matter said on Monday (Jul 1). Higher-ranking officials will take a steeper cut in salaries, one of the sources said.…
Read MoreSingtel CEO’s pay dips to S$3.3 million for FY2024; chairman requests lower fees
SINGTEL chief executive officer Yuen Kuan Moon earned S$3.3 million for the year ended Mar 31, a slight dip of 2.9 per cent from FY2023’s total pay of S$3.4 million, according to the telco’s annual report released on Monday (Jul 1). This comes as Singtel reported a 64 per cent fall in FY2024 net profit…
Read MoreChina’s central bank to borrow treasury bonds from primary dealers
China’s central bank said on Monday (Jul 1) that it would borrow treasury bonds from some primary dealers in open market operations in the near future, in what traders and analysts believe is a move to stabilise plummeting yields. The country’s sovereign bonds had a long bullish streak this year, with yields hitting record lows…
Read MoreChina 10-year yield declines to historic low as rally extends
THE yield on China’s benchmark bonds fell to a record low as investors continued to snap up the notes amid pessimism about the domestic economy. The onshore 10-year government yield declined two basis points to 2.18 per cent, set to close at the lowest since Bloomberg began tracking the data in 2002. Yields on the…
Read MoreBrokers’ take: Maybank raises Singtel target on higher valuation in associate
MAYBANK Securities has lifted its target price on Singtel by 5 per cent to S$3.40 from S$3.24, after its associate, Bharti Airtel, said last week that it would raise mobile prices across various plans. On Monday (Jul 1), analyst Hussaini Saifee said the new target price could be attributed mainly to a higher valuation of…
Read MoreMan fined S$70,000 for insider trading of GS Holdings shares
THE Monetary Authority of Singapore (MAS) imposed a civil penalty of S$70,000 on businessman Tay Joo Heng for conducting insider trading of shares in GS Holdings, a food and beverage business operator that also offers branding, operation and procurement services. This follows a joint investigation by the Commercial Affairs Department (CAD) and MAS into the…
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