Our transition to cleaner energy vehicles will be a game-changer: ComfortDelGro
Feng Zengkun - For land transport operator ComfortDelGro , to reach its sustainability goals, the journey is as important as the destination. “Many companies have made commitments or statements about their decarbonisation targets, but lack the details on how to get there. To us, that is not a recipe for success, ...
Oxley Holdings further clarifies background facts with regard to CEO allegations
Benjamin Cher - PROPERTY developer Oxley Holdings issued further clarifications to the allegations around its CEO in a bourse filing on Thursday (Jul 25).
New York may entice investors in Singapore tech
Nirgunan Tiruchelvam - Singaporean food lovers in New York should thank KF Seetoh. Seetoh is an old boy of SJI or St Joseph’s Institution. He was a photographer with The Straits Times. He later became a food critic and moved to New York to put Singapore’s hawker centre on the world stage. In the autumn of 2022, Seetoh ...
CATL supplier Lopal said to seek US$200 million for Indonesia unit
JIANGSU Lopal Tech is considering raising about US$200 million for its Indonesian unit as it ramps up local production of materials used...
Amazon racing to develop AI chips cheaper, faster than Nvidia's, executives say
AUSTIN, Texas : Inside Amazon.com's chip lab in Austin, Texas, half a dozen engineers on a Friday afternoon put a closely guarded new server design through its paces. The server was packed with Amazon's artificial intelligence chips that compete with those from market leader Nvidia, Amazon ...
Musk to discuss $5 billion xAI investment with Tesla board
Tesla CEO Elon Musk said on Thursday he will discuss a $5 billion investment in artificial intelligence startup xAI, as the electric-vehicle maker looks to double down on efforts to expedite the development of its robotaxi and self-driving products.The ambitious self-driving project has faced numero ...
Brokers' Digest: UOB, Dyna-Mac, Sheng Siong, ST Engineering
The Edge Singapore - United Overseas Bank Price target: CGS International ‘neutral’ $32 Roll-off in Citi integration costs positive for earnings The Singapore research team at RHB Bank Singapore is remaining “neutral” on United Overseas Bank (UOB) with a higher target price of $32 from $30.10, following a meetin ...
Leveraged Nvidia ETFs ramp up investor risk as tech turbulence hits markets
Making leveraged bets on Nvidia is likely to get much riskier if Wall Street's tech-led selloff continues.Exchange-traded funds (ETFs) designed to magnify the daily moves in the chipmaker's shares by as much as two times have been a popular vehicle for investors seeking to jump on the stoc ...
Sibanye Stillwater delays releasing results after cyberattack
Sibanye Stillwater will release half-year financial results on Sept. 12, two weeks later than scheduled, after a cyberattack on its IT system caused limited disruption to its global operations, the diversified mining company said on Thursday.The Johannesburg-based precious metals miner said its syst ...
Stamford Land takes out shareholders’ loans for UK property
Benjamin Cher - STAMFORD Land on Thursday (Jul 25) announced an interested persons transaction in taking out shareholders’ loans totalling about S$413.5 million in relation...
Briefs: China unexpectedly cuts one-year policy rate by most since 2020; NTUC Enterprise remains 'fully committed'
The Edge Singapore - Quoteworthy: "I don’t think it’s a good idea to sell Income. It was founded to serve a social purpose and a social need. They remain valid today. I wish to argue that Income and Fairprice should never be sold." –— Tommy Koh, Singapore’s ambassador-at-large China unexpectedly cu ...
Exclusive-Meta to be hit with first EU antitrust fine for linking Marketplace and Facebook, sources say
BRUSSELS : Meta Platforms is set to be hit in a few weeks with its first EU antitrust fine for tying classified advertisements service Marketplace with its Facebook social network, people with direct knowledge of the matter said.The move by the European Commission will come more than a year and a ha ...
China’s Baosteel to boost investment in steel plate in Saudi to US$1 billion
CHINA’S biggest listed steelmaker, Baoshan Iron and Steel Co (Baosteel), said on Thursday (Jul 25) that it will more than double its...
Nasdaq profit beats estimates as fintech sales soar
Nasdaq beat estimates for second-quarter profit on Thursday (Jul 25), driven mainly by strong demand for its products that help traders navigate...
US: Wall Street opens muted after strong GDP data
The main US indexes opened flat on Thursday (Jul 25) as investors drew comfort from stronger-than-expected economic growth data, a day after...
Suntec REIT's DPU fell 1.2% in 1HFY2024 to 3.042 cents
The Edge Singapore - Suntec REIT reported distributable income from operations of $88.7 million for the period from Jan 1 to June 30, its 1HFY2024. Distribution per unit (DPU) from operations of 3.042 cents to unitholders was 1.2% lower year-on-year. With the absence of capital distribution in 1H2024, DPU declined 12.5 ...
US dollar pares losses after economic data
NEW YORK : The U.S. dollar trimmed losses on Thursday after data showed the the world's largest economy expanded faster than expected and inflation slowed in the second quarter.The greenback came off lows against the surging yen and was last down 0.4 per cent at 153.16. It was at 152.68 yen bef ...
Oracle signs deal to use Italy's Rai Way data centres
MILAN : Oracle has signed an accord with Rai Way to install its systems for artificial intelligence applications at the Italian infrastructure firm's data centres, the two companies said on Thursday.Oracle's corporate clients will be able to access Oracle's database solutions, cloud o ...
IFAST's net profit in 2QFY2024 surges 346.1%
The Edge Singapore - IFAST Corp's net profit increased by 346.1% y-o-y to S$16.03 million in 2QFY2024, for the three months to June 30. Revenue rose 72.9% y-o-y to $93.75 million during the quarter. Net revenue rose by 93% to $61.38 million. For the first half of 2024, the Group’s total net revenue increased 90. ...
Disney, Warner Bros launch streaming bundle with ad-free plan for $30/month
A streaming bundle comprising Disney+, Hulu and Max services will be available in the United States from Thursday for a monthly price of $16.99 with ads, and $29.99 without ads, parent companies Walt Disney and Warner Bros Discovery said.The bundle, plans for which were announced in May, would help ...
iFAST Q2 earnings surge 346% on ePension contribution
Benjamin Cher - DIGITAL bank and wealth management platform iFAST Corporation reported a 346.1 per cent rise in Q2 2024 earnings to S$16 million, from...
Mapletree Industrial Trust's 1QFY2025 DPU increase by 1.2%to 3.43 cents
The Edge Singapore - Mapletree Industrial Trust's distributions per unit (DPU) for 1QFY2025, for the three months to June 30, rose by 1.2% y-o-y to 3.43 cents. Revenue and net property income for 1QFY2025 rose by 2.7% and 1.3% y-o-y to to $175.3 million and $132.5 million respectively. The improvement was mainly at ...
Mapletree Industrial Trust Q1 DPU up 1.2% to S$0.0343
Elysia Tan - MAPLETREE Industrial Trust charted a 1.2 per cent increase in distribution per unit (DPU) to S$0.0343 in its first quarter ended Jun...
Nestle, Unilever sales disappoint as consumers remain wary of high prices
Nestle and Unilever may be raising prices more slowly, but it has not been enough to win back some cost-conscious customers, with...
BofA payments app for businesses handled record $500 billion by mid-year
NEW YORK : Bank of America’s corporate clients approved a record $500 billion in payments through its CashPro app by mid-year, up almost 40 per cent versus the same period in 2023, the company said in a statement on Thursday.Payments on the app are projected to exceed $1 trillion this year from $8 ...
Apple’s China market share shrinks as Huawei surges, data shows
APPLE’S market share in China shrank by two percentage points in the second quarter of 2024, as the tech giant faced intensifying...
Suntec Reit DPU falls 12.5% to S$0.03042 due to lack of capital distribution
Elysia Tan - SUNTEC Real Estate Investment Trust (Suntec Reit) recorded a distribution per unit (DPU) of S$0.03042 in the six months ended Jun 30,...
Yen surges as traders brace for interest rate shift while risk mood sours
THE yen rallied for a fourth day running on Thursday (Jul 25), reaching a six-week high, as traders ditched their long-running bets...
Indonesia's cocoa output seen lower as El Nino effects linger
JAKARTA : Indonesia's cocoa output is set to fall again this year as the effects of last year's El Nino weather pattern linger, the cocoa farmers' association said on Thursday.Last year's dry season was the most severe since 2019 as the El Nino phenomenon lasted longer than usual ...
SoftBank-backed Ola Electric suspends India car project to focus on scooters, bikes, sources say
NEW DELHI : India's IPO-bound Ola Electric has suspended its electric car launch plans as the Softbank-backed company wants to focus on its e-scooter business, two people with direct knowledge of the decision said.Ola's founder Bhavish Aggarwal laid out plans in 2022 to launch an electric ...
American Airlines cuts annual profit forecast on pricing pressures
AMERICAN Airlines cut its annual profit forecast on Thursday (Jul 25) as uneven demand trends and overcapacity in certain markets dampened the...
Stellantis to sell majority stake in Comau robotics unit to One Equity Partners
MILAN : Carmaker Stellantis will sell a majority stake in its robotic unit Comau to One Equity Partners, the three companies said in a statement on Thursday, in a move aimed at supporting Comau expansion beyond the automotive sector.Financial details of the agreement were not disclosed, but private ...
Stellantis triggers government scrutiny with Comau stake sale
MILAN :Carmaker Stellantis has agreed to sell a majority stake in its robotic unit Comau to One Equity Partners, in a deal that has drawn scrutiny from Italy's government.Financial details of the transaction were not disclosed, but U.S.-based private equity firm One Equity will make a "maj ...
Grab’s acquisition of Trans-cab falls through as both parties withdraw
Benjamin Cher - GRAB’S proposed acquisition of Trans-cab has fallen through as both parties have withdrawn their application to the Competition and Consumer Commission of...
