Not all SMEs may benefit from Budget 2025’s business support measures: companies
Paige Lim - Schemes related to mergers and acquisitions are for larger firms, and vouchers do not help SMEs outside the heartlands
Dollar rises as traders mull Ukraine peace talks, Trump tariffs
The dollar strengthened against a range of currencies but slipped against the yen on Wednesday (Feb 19), as traders focused on talks...
Budget 2025 will ease business costs but challenges remain, say firms and trade associations
Firms and business associations that CNA spoke to largely welcomed measures to cushion rising costs, but also raised concerns about how the effects may be limited in some instances.
Garmin forecasts 2025 results above estimates on strong outdoor wearables demand
Swiss navigation device maker Garmin forecast full-year results above Wall Street estimates on Wednesday, banking on continued momentum in its outdoor and auto OEM segments.Garmin makes wearables designed for a niche market of professionals and specializes in GPS-enabled products for defense and rec ...
Musk’s X in talks to raise money at US$44 billion valuation, Bloomberg News reports
ELON Musk’s X social media platform is in talks to raise money from investors at a US$44 billion valuation, Bloomberg News reported...
SingPost to lay off 45 employees ‘in the coming months’
Yong Jun Yuan - The move is not correlated with previous incidents or whistle-blowing reports, it emphasises
China proposes new rules to tighten control over rare earth sector
The rules are the latest in a series of attempts to bring the globally critical sector under tighter state control
Etsy misses holiday-quarter sales estimates, shares fall
Etsy missed Wall Street estimates for holiday-quarter revenue and gross merchandise sales, hurt by weak spending on gifts and handcrafted goods, sending shares of the online marketplace down 8 per cent in premarket trading on Wednesday.Sticky inflation and competition from other online shopping plat ...
India's space regulator launches $58 million fund to boost startups, cut reliance on imports
BENGALURU : The Indian National Space Promotion and Authorisation Centre (IN-SPACe) on Wednesday launched a 5 billion rupee ($57.58 million) fund to help early-stage space technologies go commercial and reduce reliance on imports as the country seeks to boost its market share in the global space ind ...
Nigeria seeks $81.5 billion in economic losses, back tax against Binance - court document
ABUJA : Nigeria has filed a lawsuit against cryptocurrency exchange Binance, seeking to compel the company to pay $79.5 billion for economic losses caused by its operations in the country and $2 billion for two years of back taxes, court documents seen by Reuters showed on Wednesday.
Apple to launch new lower-cost iPhone to capture a broader market
APPLE is set to launch its latest budget iPhone model on Wednesday (Feb 19) as it looks to grab a bigger share...
Nigeria seeks $81.5 billion in economic losses, back tax from Binance
ABUJA : Nigeria has filed a lawsuit against cryptocurrency exchange Binance, seeking to compel the company to pay $79.5 billion for economic losses caused by its operations in the country and $2 billion for two years of back taxes, court documents seen by Reuters showed on Wednesday. Binance had no ...
PM Wong’s nuclear energy comments at Budget 2025 a ‘massive vote of confidence’
Jovi Ho - Prime Minister Lawrence Wong unveiled a slew of energy-related announcements at Budget 2025 on Feb 18, chief among them plans to study the potential deployment of nuclear energy in Singapore. Nuclear was considered among the “inherently limited” options due to Singapore’s lack of natural res ...
Novo seeks US$830 million from Singapore firm, accusing it of fraud over drug
Danish drugmaker has suffered an impairment loss of about US$800 million
Thailand to curb short selling, high-speed trades amid sell-off
THAILAND’S stock exchange will tighten curbs on short selling and high-frequency trading as it attempts to revive investor confidence in the world’s...
SingPost to lay off 45 employees amid restructuring exercise
SingPost says the restructuring exercise is not related to any previous incidents or whistleblowing reports.
Bumble shares slide after weak forecast signals slow dating app turnaround
Bumble's shares fell 16 per cent on Wednesday after the dating app operator forecast first-quarter revenue below market estimates, as it continues to grapple with a slowdown in the growth of paying users.Shares of the Austin, Texas-based company have slumped about 40 per cent over the past 12 m ...
Former star prosecutor and CAD director Glenn Knight dies at age 80
Tessa Oh - The top lawyer was the lead prosecutor in prominent cases such as the Pan-El saga
Apple says UK regulator's remedy options on mobile browsers will hit innovation
LONDON : Apple has told Britain's competition regulator that some of the remedy options proposed by the watchdog to address concerns in the mobile browser market would impact the iPhone maker's incentive to innovate. The responses from Apple and Google to the regulator's investigation ...
Beng Kuang Marine reports earnings of $11.5 mil for FY2024, sees organic growth in two core business divisions
Nicole Lim - Beng Kuang Marine has reported earnings of $11.5 million for the FY2024 ended Dec 31, 2024, up 237% y-o-y from the $3.4 mil reported in the same period a year ago. The offshore and marine services company reported earnings per share of 5.79 cents, up 237% y-o-y for the FY2024. For the 2HFY2024, ...
CSE Global reports 52.2% y-o-y increase in opening order book for FY2024 worth $730.6 mil
Nicole Lim - CSE Global reports a 52.2% y-o-y increase in opening order book for the FY2024 ended Dec 31, 2024 of $730.6 million, an increase from the $480.1 million reported in the same period a year ago. The opening order book refers to the total outstanding orders that the group has received but not fulfill ...
Ant Group enters China’s growing humanoid robot industry amid rising tech interest
ANT Group, the Alibaba-linked fintech giant, is venturing into the humanoid robot industry, joining a growing list of major Chinese tech companies...
Prime US Reit posts 51.6% fall in H2 DPU as manager continues to retain funds for capex
Sharanya Pillai - The Reit’s manager is cautiously optimistic about return-to-office mandates “gaining momentum”
CSE Global records S$235.3 million in new Q4 orders
Yong Jun Yuan - Its ending order book for the period is down 7.9% at S$672.6 million
Cordlife ID Teo Tong Kooi steps down; new ID appointed
Yong Jun Yuan - The cord-blood bank announces other changes to its board
Prime US REIT reports lower DPU of 0.29 US cents for FY2024 to preserve distributable income for capex needs
Nicole Lim - Prime US REIT has reported a distribution per unit (DPU) of 0.29 US cents (0.39 cents) for the FY2024 ended Dec 31, 2024, 88.2% y-o-y lower than the DPU of 2.46 US cents declared in FY2023. Accordingly, the REIT’s 2HFY2024 DPU came in 51.6% y-o-y lower at 0.11 US cents. This DPU is based on th ...
Etihad profit more than triples to almost $500 million ahead of expected IPO
DUBAI : Etihad Airways more than tripled its net profit last year to $476 million, the carrier, which sources say is set for an initial public offering this quarter, said on Wednesday.Earnings were boosted by $5.7 billion in passenger revenue and $1.1 billion in cargo revenue, the company said, also ...
Etihad Airways' profit more than triples to almost $500 million ahead of IPO
DUBAI : Abu Dhabi's Etihad Airways more than tripled net profit last year to $476 million, the company said on Wednesday as the carrier pushes ahead with plans for an initial public offering (IPO).
Singapore stocks end Wednesday higher on UOB earnings, Budget news; STI adds 0.2%
Megan Cheah - The bank’s Q4 profit of of S$1.52 billion beat analysts’ consensus forecast S$1.48 billion
Singapore shares end Wednesday higher on UOB earnings, Budget news; STI up 0.2%
Megan Cheah - The bank’s Q4 profit of of S$1.52 billion beat analysts’ consensus forecast S$1.48 billion
United Hampshire US Reit declares 4.2% lower H2 DPU of US$0.0205
Yong Jun Yuan - Net property income falls 1.6% year on year to US$24.4 million for the half year
Glencore reports profit slide as key earner coal slumps
It reported core earnings of US$14.4 billion, 16% lower than the previous year
HSBC, on cost-cutting drive, expects hit to global headcount to be under 8%
Wong Chia Peck - It aims to remove duplicated roles at the more senior levels
HSBC expects cost-cutting drive to hit less than 8% of global headcount
Wong Chia Peck - It aims to remove duplicated roles at the more senior levels