Nissan predicts profit above $1 billion this fiscal year, modest Iran war hit
YOKOHAMA, Japan, May 13 : Nissan forecast more than $1 billion in profit for its fiscal year on Wednesday, predicting a relatively modest hit from the Iran war and an increasing impact from cost-cutting.The conflict was likely to hurt this year's operating profit forecast of 200 billion yen ($1 ...
Nissan posts narrow profit for fiscal year, beats analysts' estimates
YOKOHAMA: Nissan on Wednesday (May 13) reported an operating profit of ¥58.0 billion (US$367.60 million) for the year that ended in March, as an improved cost performance and a one-off boost tied to US emissions regulations offset a hit from Washington's tariffs.Analysts, according to an LSEG ...
Japanese investors sell foreign stocks in April as energy costs rise
May 13 : Japanese investors turned net sellers of foreign stocks for the first time in four months in April, as concerns over higher energy costs from the Iran war and the risk of broader inflation prompted caution on overseas equities.They divested a net 636.4 billion yen ($4.04 billion) of foreign ...
SoftBank books 1.83 trillion yen profit on OpenAI stake gains
The scale of the OpenAI wager have raised questions about financial pressures facing the company
SMFG profit more than triples, expects record annual earnings again
TOKYO, May 13 : Japan's second-largest lender, Sumitomo Mitsui Financial Group, on Wednesday booked a 350 per cent jump in fourth-quarter net profit and forecast another year of record earnings for the period to March 31, 2027.The banking group made 188.20 billion yen ($1.19 billion) in net pro ...
Indonesian stocks slide after MSCI culls six companies from its index
JAKARTA, May 13 : Global index provider MSCI said it will cut six companies from its Indonesia index at the end of May as it pushes for reforms in a market it has criticised for lacking transparency, sending their shares tumbling on Wednesday.Two of the six had been flagged by Indonesian authorities ...
European shares rise as oil prices slip on fragile US-Iran ceasefire
EUROPEAN shares rose on Wednesday, recovering from a sharp drop in the previous session, as oil prices retreated after peace negotiations between...
US defense firm Anduril raises $5 billion, doubling its valuation to $61 billion
May 13 : Defense technology start-up Anduril Industries said on Wednesday that it has raised $5 billion, doubling its valuation to $61 billion.The California-based start-up's latest funding round was led by venture capital firms Thrive Capital and Andreessen Horowitz. Here are some details abou ...
Siemens to buy back 6 billion euros of shares against tough backdrop
The buyback will extend over a period of up to five years
SK Innovation warns refining recovery to take time, beats Q1 profit estimates
SEOUL, May 13 : SK Innovation, owner of South Korea's top refiner SK Energy, said on Wednesday the normalisation of production and logistics of its refining business is expected to take time even if the Middle East conflict is resolved. The company posted an operating profit of 2.2 trillion won ...
SoftBank profit more than triples to $12 billion on OpenAI stake gains
TOKYO, May 13 : Technology investor SoftBank Group reported on Wednesday that its net profit more than tripled to 1.83 trillion yen ($11.60 billion) in the January-March quarter, as it booked gains on its investment in ChatGPT-maker OpenAI. It was SoftBank's fifth consecutive quarterly profit, ...
SoftBank books $12 billion profit on OpenAI stake gains
TOKYO, May 13 : Technology investor SoftBank Group reported on Wednesday that its net profit more than tripled to 1.83 trillion yen ($11.60 billion) in the January-March quarter, as it booked gains on its investment in ChatGPT-maker OpenAI. It was SoftBank's fifth consecutive quarterly profit, ...
SoftBank records $12 billion fourth-quarter profit
TOKYO, May 13 : Technology investor SoftBank Group recorded a net profit of 1.9 trillion yen ($12.05 billion) in the January-March quarter, it said on Wednesday.The results compare to a net profit of 517 billion yen in the same period a year earlier.SoftBank has now booked a net profit for five cons ...
SoftBank profit more than triples to US$12 billion on OpenAI stake gains
TOKYO: Technology investor SoftBank Group reported on Wednesday (May 13) that its net profit more than tripled to ¥1.83 trillion (US$11.60 billion) in the January-March quarter, as it booked gains on its investment in ChatGPT-maker OpenAI.It was SoftBank's fifth consecutive quarterly profit, w ...
Nippon Steel expects $1.4 billion fiscal year profit as one-off items fade
TOKYO, May 13 : Nippon Steel, Japan's biggest steelmaker, on Wednesday said it expects its net profit for the year that ends in March to increase sharply to 220 billion yen ($1.4 billion) as the effects of one-off losses fade from its results. Nippon Steel, which bought U.S. Steel for $15 billi ...
Nippon Steel's fiscal year profit down 95%
TOKYO, May 13 : Nippon Steel, Japan's biggest steelmaker, on Wednesday posted 17.2 billion yen ($109 million) in net profit for the fiscal year ended in March, down 95 per cent from the year earlier. Nippon Steel, which bought U.S. Steel for $15 billion last year and pledged massive investments ...
United Hampshire US REIT posts 10% rise in distributable income for 1Q2026
Belle Neo - United Hampshire US REIT (UHREIT) has reported a distributable income of US$6.9 million ($8.8 million) for the 1QFY2026 ended March 31, 10% higher y-o-y, as contributions from two recently acquired grocery-anchored properties and robust leasing activity drove a broad-based improvement across its fin ...
China’s AI suppliers can’t keep up as component shortages bite
Capacity constraints and a tightening supply of critical components threaten to throttle the brisk growth seen early this year
Japan refinery runs climb to over 70% on alternative supply, stockpile releases
TOKYO, May 13 : Japanese refineries increased their oil processing to over 70 per cent of their capacity for the first time since March, Petroleum Association of Japan data showed on Wednesday, as they consumed crude released from stockpiles and alternative supplies.After the U.S.-Israeli war with I ...
Thai growth likely to top 3% over next 1-2 years on new investments, minister says
BANGKOK, May 13 : Thailand's finance minister said on Wednesday that he expects growth to top 3 per cent over the next one to two years, boosted by new investments, with the central bank also stating it was in no rush to raise interest rates. • Finance Minister Ekniti Nitithanprapas told repo ...
Thailand's central bank signals no rush to hike rates as inflation outlook improves
BANGKOK, May 13 : Thailand's central bank said on Wednesday that it was in no rush to raise interest rates and that supply-side inflation was expected to ease next year. • The Bank of Thailand said that risks of a second round of inflation were limited, adding that inflation was expected to r ...
Thai rate panel warns against broad economic stimulus as war unfolds
The Bank of Thailand expects economic growth to decelerate sharply to 1.5 per cent this year from 2.4 per cent last year
Thai rate panel warns against broad economic stimulus amid war
The Bank of Thailand expects economic growth to decelerate sharply to 1.5 per cent this year from 2.4 per cent last year
Japan megabanks to gain access to Anthropic's Mythos in about two weeks, source says
TOKYO, May 13 : Japan's three largest banks are expected to gain access to Mythos, the artificial intelligence model developed by Anthropic, in about two weeks, a person with direct knowledge of the matter said. Mythos is viewed by cybersecurity experts as posing significant challenges to th ...
Elon Musk, Jensen Huang, Tim Cook: Who’s in Trump’s US$1 trillion CEO delegation to China
Tan Weizhen - A total of 17 CEOs and senior executives are in the group
Elon Musk, Jensen Huang, Tim Cook: Who’s in Trump’s over US$1 trillion CEO delegation to China
Tan Weizhen - A total of 17 CEOs and senior executives are in the group
Mainland Chinese snap up Hong Kong homes in April, most in 2 years
HONG KONG, May 13 : The number of Hong Kong homes bought by mainland Chinese surged 48 per cent in April from the previous month to a two-year high, data from property agent Midland Realty showed, supported by a strong yuan and a shift to purchasing from renting.Here are the details:• Mainland Chi ...
OCBC inks five-year partnership with Australian government to deepen regional investment and trade flows
Felicia Tan - Oversea-Chinese Banking Corporation (OCBC) has signed a five-year strategic framework with the Australian High Commission Singapore to grow trade and investment flows between Southeast Asia and Australia. The partnership will see collaboration between the bank and three agencies from the Australian ...
Southeast Asia’s e-commerce boom runs into an SME payments bottleneck: report
Nurdianah Md Nur - Small and medium-sized enterprises (SMEs) in Southeast Asia are expected to drive the next wave of e-commerce growth. The problem is that many of them are still relying on payment systems they say are too slow, costly or limited for the job. The region’s e-commerce market is on track to reach US$2 ...
Veon lifts 2026 revenue outlook as softer dollar boosts results
(Corrects year in headline)By Leo Marchandon and Gianluca Lo NostroMay 13 : Dubai-based telecoms group Veon on Wednesday raised its full-year revenue growth forecast after a weaker U.S. dollar helped lift first-quarter revenue 17 per cent.First-quarter revenue rose to $1.1 billion, while earnin
Veon lifts 2025 revenue outlook as softer dollar boosts results
May 13 : Dubai-based telecoms group Veon on Wednesday raised its full-year revenue growth forecast after a weaker U.S. dollar helped lift first-quarter revenue 17 per cent.First-quarter revenue rose to $1.1 billion, while earnings before interest, taxes, depreciation and amortisation increased 17.7 ...
Indonesian stocks slide after MSCI removes six companies from its index in review
May 13 : Indonesia's benchmark stock index slid to a one-year low and shares of some companies owned by the nation's richest families tumbled, after MSCI removed six firms from its Indonesia global standard index.The index provider announced on Tuesday it had removed Amman Mineral Internat ...
Japan's MUFG seeks to offload $2 billion exposure to private credit loans, FT reports
May 13 : Japan’s Mitsubishi UFJ Financial Group is in talks with investors to offload its exposure to about $2 billion of loans it extended to listed private credit funds, the Financial Times reported on Wednesday, citing people familiar with the matter.Reuters could not immediately verify the rep ...
Japan's megabanks set to access Anthropic's Mythos as soon as this month, Nikkei says
TOKYO, May 13 : Japan's three largest banks are set to acquire access to Mythos, the artificial intelligence model developed by Anthropic, as soon as the end of May, the Nikkei business daily reported on Wednesday. The banking arms of Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Gr ...
