Southern Alliance Mining guides for gross and higher net loss for 1HFY2025 from decrease in iron ore prices
Nicole Lim - Southern Alliance Mining has guided for a gross loss for 1HFY2025 ended Jan 31, 2025, compared to a gross profit reported in the same period a year ago. The group is also expecting to report a higher net loss for 1HFY2025, mainly due to a decrease in average realised selling price for iron ore con ...
IBM wins UK lawsuit against LzLabs over alleged theft of mainframe technology
LONDON : IBM on Monday won a London lawsuit against U.S. tech entrepreneur and philanthropist John Moores' company LzLabs, which the IT giant accused of stealing trade secrets.IBM sued Switzerland-based LzLabs, two English subsidiaries and their ultimate owner Moores, who previously owned Major ...
DFI Retail reports overall loss of US$244.5 mil for FY2024 from divestments and impairments
Nicole Lim - DFI Retail Group has reported a loss of US$244.5 million ($325.41 million) for FY2024 ended Dec 31, 2024, a reversal from the US$32.2 million in earnings reported in the same period a year ago. The group’s reported results were impacted by non-trading losses attributable to shareholders of US$44 ...
Singapore working with Indonesia on extraditing fugitive businessman: Shanmugam
[SINGAPORE] Singapore has received a request from Indonesia to extradite a fugitive businessman over corruption charges, the first such request since a...
Pakistan central bank surprises with hold on key policy rate
KARACHI :Pakistan's central bank held its key policy rate at 12 per cent on Monday, it said in a statement, a widely unexpected move which halted an easing cycle that witnessed six straight reductions since June.The central bank has slashed rates by 1000 bps from an all time high of 22 per cent ...
SGX to list open-ended Bitcoin futures contracts
Bloomberg - Singapore Exchange (SGX) plans to list Bitcoin perpetual futures as traditional exchanges push deeper into crypto derivative markets. The exchange intends to launch the contracts in the second half of 2025, a spokesperson said in an emailed statement. The company will strictly target institutiona ...
Japanese investors boost bond holdings, sell foreign stocks in February
Japanese investors increased bond purchases in February due to a fall in yields overseas, but retreated from foreign equities on concerns over U.S. President Donald Trump's tariffs plans and the potential impact on global growth from trade distortions. Investors bought a net 3.45 trillion yen ( ...
DFI Retail Group logs 29.7% growth in underlying profit to US$200.6 million, ups dividend
Goh Ruoxue - This comes even as full-year revenue falls 3.3% to US$8.9 billion from US$9.2 billion in the year-ago period
Wee Hur's shareholders vote in favour to sell PBSA segment for A$355 mil at EGM
Nicole Lim - Majority of Wee Hur Holdings ’ shareholders have voted in favour for the sale of its seven purpose-build student accommodation (PBSA) in Australia in its extraordinary general meeting (EGM) held on Feb 28, according to a bourse filing on March 10. About 99.93% of all shareholders voted for the p ...
EU lawmakers voice doubts about digital euro after ECB outage
FRANKFURT : European lawmakers are voicing fresh doubt about the European Central Bank’s digital euro project after an outage in the ECB’s existing payment system caused delays for thousands of households and traders.The breakdown in the Target 2 (T2) payment system late last month meant banks c ...
France weighs lifting ESG exclusion rules on defence lending
Bloomberg - France is considering revamping hurdles banks face when lending to the defence sector, after the financial services industry emerged as an obstacle to Europe’s efforts to rapidly boost its military capabilities. Current regulation designed to divert lending away from companies seen as problematic ...
Daily Debrief: What Happened Today (Mar 10)
Stories you might have missed
Airport strike hits German air travel
Thousands of flight cancelled in a dispute about workers’ pay
Mainland Chinese investors buy record amount of Hong Kong stocks
Investors snapped up shares worth HK$29.6 billion (S$5.1 billion) on a net basis, surpassing the previous record seen in early 2021
Warburg Pincus ties up with SK D&D to enter senior housing sector in South Korea
The Edge Singapore - On March 10, Warburg Pincus, SK D&D, one of South Korea’s largest multifamily operators and developers, and D&D Investment, the subsidiary asset management arm of SK D&D, announced that they have signed a joint agreement to invest in the senior housing market in South Korea. This partn ...
Musk says X is facing cyberattack following outage
Social media platform X went down for nearly 11,000 users on Monday, which owner Elon Musk said was the result of a cyberattack."There was (still is) a massive cyberattack against X. We get attacked every day, but this was done with a lot of resources. Either a large, coordinated group and/or a ...
Social media platform X down again for thousands of users, Downdetector shows
Elon Musk's social media platform X was down again for thousands of users in the United States, according to Downdetector.com.The number of outage reports rose to more than 40,000 after easing a bit earlier in the day, user-submitted data on the outage-tracking website showed.More than 10,800 u ...
Social media platform X down again for some users, Downdetector shows
Elon Musk's social media platform X was down again for some users in the United States, according to Downdetector.com.The number of outage reports rose to more than 11,000 after easing a bit earlier in the day, user-submitted data on the outage-tracking website showed.More than 10,800 users in ...
Social media platform X down for thousands of users, Downdetector shows
Social media platform X is down for thousands of users in the U.S. and the UK, according to outage tracking website Downdetector.com.There were more than 21,000 incidents of people reporting issues with the platform in the U.S. and more than 10,800 incidents in the UK, according to Downdetector, whi ...
Musk says X hit by major cyberattack
SAN FRANCISCO: Elon Musk said X was hit Monday (Mar 10) by a major cyberattack, raising questions as to whether the politically divisive billionaire is being targeted or his decision to gut
Chocolate Finance CEO says disabling of AXS payments was 'communicated poorly'
Nicole Lim and Jovi Ho - Chocolate Finance’s founder says the company “mistakenly implied” that AXS disabled its debit card last week, frustrating users and causing them to withdraw their funds from the Singapore-based financial services platform. Walter de Oude, who is also CEO of Chocolate Finance, took to LinkedIn ...
There are fewer than 100 ocelots in the US - these scientists are trying to save them
CORPUS CHRISTI, Texas : In the race to save the endangered ocelot, scientists are trekking the United States, pursuing fertility treatments and striving to kickstart a new generation of the wild cat.Ocelots roamed the southwestern U.S. in the 1800s, but have since dwindled to fewer than 100 in two s ...
Singapore shares fall as regional markets end mixed; STI drops 0.4%
Navene Elangovan - Across the broader market, losers beat gainers 320 to 195, after 1.4 billion securities worth S$1.3 billion change hands
Singapore stocks fall as markets across Asia end mixed; STI drops 0.4%
Navene Elangovan - Across the broader market, decliners outnumber gainers 320 to 195, as 1.4 billion shares worth S$1.3 billion change hands
Market Focus Daily: Monday, March 10, 2025
China’s retaliatory tariffs on US farm goods take effect; Investors dump Indonesia stocks as Prabowo flexes market muscles; Thailand readies 27 billion...
Japan's Makino Milling says it received buyout offers rivalling Nidec's
TOKYO : Japan's Makino Milling Machine said on Monday it has received legally binding third-party proposals for acquisition that rival an unsolicited buyout offer from Nidec. The proposals include those from MBK Partners and Nippon Sangyo Suishin Kiko Group (NSSK), a person with direct knowledg ...
Number of Singapore residents living in private condos doubles over last 15 years
Ry-Anne Lim - Data on ownership also points to jump in resident households buying private property between 2009 and 2024
9 in 10 in India lack enough money to spend on non-essential items: Report
The report also found that the rich in India are getting wealthier.
Chocolate Finance halts instant withdrawals due to 'high demand'
The financial services platform previously allowed up to S$20,000 in instant withdrawals per day.
UK's Deliveroo quits Hong Kong market
Deliveroo will close its operations by selling some assets to Singaporean firm foodpanda and by closing other assets
Deliveroo exits Hong Kong in face of Meituan rivalry
Bloomberg - Deliveroo Plc will close its Hong Kong business after weak sales and mounting competition in the city weighed on the company’s international division. The London-based delivery company will sell some assets to rival Foodpanda, owned by Delivery Hero SE, and close other assets, it said in a state ...
Thales Alenia Space receives satellite order from Japan's SKY Perfect JSAT
Thales Alenia Space (TAS) has received an order from Asia’s largest satellite operator SKY Perfect JSAT Corporation to build its JSAT-32 geostationary communications satellite, the joint venture between France's Thales and Italy's Leonardo said on Monday.The satellite is scheduled for la ...
Warburg Pincus enters South Korea’s senior housing market with SK Group
Wong Chia Peck - Private equity firm signs pact with conglomerate’s property development unit to focus on investing in Greater Seoul area
Singapore, Hong Kong face growth risks over US tariff war with China
Bloomberg - Economists lowered the growth outlook for Singapore and Hong Kong in the second half of this year on increased uncertainties from US President Donald Trump imposing higher tariffs on China’s exports, according to the median of a Bloomberg survey. Singapore’s growth is likely to slow in the thi ...
