Exclusive-Nordics and Estonia rolling out offline card payment back-up in case internet cut
HELSINKI : Finland, Sweden, Norway, Denmark and Estonia are rolling out offline card payment systems to provide a back-up if internet connections are lost, including due to sabotage, Bank of Finland board member Tuomas Valimaki said on Wednesday.The plans come after the Baltic Sea region has suffere ...
Exclusive-Nordics and Estonia plan offline card payment back-up if internet cut
HELSINKI : Finland, Sweden, Norway, Denmark and Estonia are planning to roll out a system of offline card payments to provide a back-up if internet connections are lost, including due to sabotage, Bank of Finland board member Tuomas Valimaki said on Wednesday.The plan comes after the Baltic Sea regi ...
Beng Kuang Marine reports lower profit before tax of $4.18 mil for 1QFY2025 due to absence of one-time gain
Nicole Lim - Beng Kuang Marine has reported a profit before tax of $4.18 million for 1QFY2025 ended March 31, 2025, down 63.1% y-o-y from the $11.32 million reported in the same period a year ago. The previous year’s profit before tax saw a one-time gain of $5.83 million from disposal of the second partial sal ...
Disney beats earnings forecasts on boost from streaming, US parks
LOS ANGELES :Walt Disney's quarterly results topped Wall Street expectations on Wednesday as visitors to its U.S. theme parks increased spending and the company saw an unexpected rise in Disney+ streaming customers.The entertainment giant released its earnings report shortly before announcing p ...
Ban Leong appoints Asian Corporate Advisors as independent financial advisor on privatisation offer from EpicSoft Asia
Nicole Lim - The board of directors of Ban Leong Technologieshas appointed Asian Corporate Advisors as the independent financial advisor for the voluntary conditional cash offer by EpicSoft Asia to take the company private. EpicSoft Asia, a wholly-owned subsidiary of gaming company GCL Global, offered to take Ba ...
CrowdStrike to lay off 5% of staff, reaffirms forecasts
CrowdStrike reiterated its fiscal 2026 first quarter and annual forecasts on Wednesday and announced a plan to cut about 500 roles, roughly 5 per cent of its workforce, to reduce costs.The cybersecurity company will incur about $36 million to $53 million in charges related to the layoffs, of which a ...
Thakral Corporation’s net profit declined 4.9% y-o-y to $3.37 mil for 1QFY2025 from forex losses and higher income tax
Thakral Corporation has reported a lower net profit of $3.37 million for the 1QFY2025 ended March 31, 2025, down 4.9% y-o-y. The group’s profit before interest and tax, which accounts for profit before foreign exchange loss and gain, came in 27.6% y-o-y higher for the quarter at $6.34 million. The ...
EU considers tariffs on Boeing jets
European carriers have hundreds of jets on order with the US planemaker
Amazon's Bezos leads new investment in AI data company Toloka
LONDON :Jeff Bezos' personal firm Bezos Expeditions is leading a $72-million investment in artificial intelligence data solutions company Toloka, which is looking to scale up its business, Toloka told Reuters on Wednesday. Toloka, which helps train and evaluate AI models using a network of huma ...
UK's FD Technologies soars on possible $722 million buyout by private equity firm
British data and analytics firm FD Technologies said on Wednesday it is in advanced talks with American private equity firm TA Associates over a possible acquisition offer, valuing the firm at 541.6 million pounds ($722.77 million).Shares of FD Technologies soared 19 per cent to 23 pounds. The possi ...
Uber shares fall as first-quarter revenue miss clouds upbeat forecasts
Uber Technologies missed first-quarter revenue estimates on Wednesday, but forecast current-quarter gross bookings above Wall Street expectations, indicating resilient demand for its ride-hailing and food delivery services.Shares of the San Francisco-based company fell more than 6 per cent in choppy ...
Novo Nordisk latest drugmaker to drop gender goals in US
This follows executive orders by President Donald Trump to stop diversity, equity and inclusion initiatives
Metro Holdings announces committed occupancy of 95% as at end March for Asia Green property in Tampines
Nicole Lim - Metro Holdings has announced a committed occupancy of 95% as at March 31, 2025 for its two Grade-A office towers located in Tampines Regional Centre. The towers, known as Asia Green, are 50% owned by Metro and have new key tenants including private school DIMENSIONS, Food Empire Holdings, and a hosp ...
Geely plans bid to take Zeekr private at value of US$6.4 billion
The proposal would see Geely buy all shares in US-listed Zeekr Intelligent Technology Holding that it does not already own for US$2.566...
Amara Holdings appoints W Capital Markets as independent financial adviser for privatisation offer
Nicole Lim - Amara Holdings has appointed W Capital Markets as the independent financial adviser (IFA) overseeing the voluntary conditional cash offer by DRC Investments for $514.6 million. On Apr 28, DRC Investments, which is an entity backed by several parties including the Teo family controlling Amara Holding ...
Volvo Cars to cut 5% of jobs at South Carolina plant as tariffs bite
The changes would affect about 125 of the 2,500 employees at its factory in South Carolina
Low-cost carriers hit hardest by US travel demand slump
Southwest, Frontier and JetBlue all see sharp declines in their operating margins in the first quarter
Singapore, European Union sign new trade agreement to boost digital connectivity
Jordan Loo - It will provide greater clarity and legal certainty for citizens and businesses by putting in place rules for digital trade and cross-border...
Daily Debrief: What Happened Today (May 7)
Stories you might have missed
Amara, Ban Leong pick IFAs for privatisation offers
Megan Cheah - Amara picks W Capital Markets to advise on offer from Hwa Hong-led consortium; Ban Leong appoints Asian Corporate Advisors
Amara appoints W Capital Markets as IFA for offer from Hwa Hong-led consortium
Megan Cheah - The offeror is a special-purpose vehicle called DRC Investments
Singapore stocks track regional gains on Wednesday; STI up 0.1%
Tan Nai Lun - Across the broader market, gainers outnumber losers 302 to 194, after 1.3b securities worth S$1.7b change hands
Potential solar boom in South-east Asia an opportunity to invest in storage systems
Sharanya Pillai - Recent blackouts in Spain and Portugal highlight the need for infrastructure to keep pace with green energy output
Toyota family working towards tender offer for key supplier as soon as November, Bloomberg reports
TOKYO :Parties involved in Toyota Motor Chairman Akio Toyoda's plan to buy out supplier Toyota Industries are working toward a tender offer as soon as November, Bloomberg News reported on Wednesday, citing people familiar with the matter.A special purpose vehicle set up by Toyoda for the buyout ...
UOB halts earnings guidance amid macro uncertainties, but remains ‘committed’ to S$3 billion capital return plan
Renald Yeo - Bank will resume guidance once macroeconomic situation stabilises
UK fund Asset Value Investors launches campaign against Japan's Wacom
TOKYO :London-based investment fund Asset Value Investors has asked Japanese graphic tablet maker Wacom to improve its corporate governance and proposed an external director with capital markets experience, it said on Wednesday. Japanese companies have faced campaigns from investors anticipating hig ...
Market Focus Daily: Wednesday, May 7, 2025
Asian stocks rise as China-US trade talks boost optimism; China ramps up monetary stimulus ahead of US trade meeting; Pakistan stocks tumble...
ST Engineering awarded mine countermeasure unmanned systems contracts for Republic of Singapore Navy
Douglas Toh - Singapore Technologies Engineering (ST Engineering) has been awarded contracts by the Ministry of Defence (MINDEF) to deliver a suite of mine countermeasure (MCM) unmanned systems for the Republic of Singapore Navy (RSN) from 2027 onwards. The value of the contracts were not disclosed. The suite of ...
Alibaba, Xiaohongshu in tie-up as China e-commerce competition intensifies
The move essentially formalises an app-to-app shopping connection between 2 companies
CEZ will appeal injunction halting nuclear power deal signing
PRAGUE : Czech power utility CEZ will appeal against a court injunction preventing it from signing an $18 billion deal with Korea's KHNP to build two new nuclear reactors, CEZ's Chief Executive Daniel Benes said on Wednesday.Benes told reporters CEZ respected Tuesday's court ruling bu ...
Singapore’s aviation sector a ‘bright spot’ as air passenger traffic hits record 68.4 million: Chee Hong Tat
Derryn Wong - The sector is a growth engine that can enable growth in other sectors and even the region, the transport minister
Full speed ahead: How Vin’s Holdings is hitting the pedal to accelerate growth
Feng Zengkun - For automotive group Vin’s Holdings, being the first business to list on the Singapore Exchangethis year marks a stepping stone to greater things. “After we achieved robust growth from 2021 to 2023, we discussed how to continue it, and decided that having this public platform will boost our visi ...
Fitch says "challenging" for Indonesia to grow 5% this year
JAKARTA :It will be a challenge for Indonesia's economy to grow 5 per cent this year due to the global trade war and softening consumer spending, but a moderation won't put the country's ratings at risk, Fitch's head of Asia-Pacific Sovereigns said on Wednesday.The global ratings ...
Imagining a Tesla without Elon Musk
Assif Shameen - A week before last Christmas, or just a month after Donald Trump won the US presidential elections, shares in electric vehicle (EV) pioneer Tesla Inc, run by one of his most vocal supporters, Elon Musk, touched an all-time high of US$488 ($639). That valued Tesla at over US$1.5 trillion, or more tha ...
