Singapore banks have been downgraded to equal weight by Morgan Stanley while London-based Hong Kong banks HSBC and Standard Chartered have been upgraded to overweight.This was according to a report by analysts of the US investment bank led by Nick Lord ahead of its 21st Annual Asia Pacific Summit.Th...

Earnings released for the 3QFY2022 ended September by United Overseas Bank (UOB) on Oct 28 and DBS Group Holdings on Nov 3 reflected the positive impact of the US Federal Reserve’s interest rate hikes, which started in earnest in June. Since the start of the year, the US Fed has hiked rates by 50 ...

Only three companies out of 20 have published objectives for employee mental health management, a study from British charity investment manager CCLA revealed on Monday (Oct 9), despite "clear evidence" that such targets can save money. CCLA's new investor benchmark, which assessed 100...

The South East Community Development Council (South East CDC) will provide cost of living benefits through non-fungible tokens (NFTs) by local blockchain company LifesDAO. The NFTs will be distributed over 10 years and sum up to $60,000.In the first year of the partnership, Social Purpose Entities, ...

Grab and Singtel’s digital bank may be overshadowed by Standard Chartered’s NTUC tie-up, while Sea’s MariBank has yet to debut amid group-wide layoffs. Is this a half-hearted launch for Singapore’s digital banks?Two digital banks were launched in succession at the turn of the month, close to...

DBS Group Holdings Ltd., Singapore’s largest lender that has been investing in India, said buying a stake in government-owned IDBI Bank Ltd. is not on its radar, even though it remained bullish about the country’s growth prospects.Chief Executive Officer Piyush Gupta said the lender isn’t look...

Over the last few months, we made some major strategic changes to the Global Portfolio — primarily, switching away from the US market into Asian stocks. As explained last week, we think earnings for the S&P 500 companies are too optimistic and, therefore, valuations — even after the 1H2022 s...

Tesla Chief Executive Officer Elon Musk said on Sunday the electric carmaker and the rocket company SpaceX are facing significant inflation pressure in raw materials and logistics. (Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Rashmi Aich)

Interest rates and inflation are two key global trends that could impact local banks as economies emerge from the pandemic. Rising inflation has caused the US Federal Reserve to communicate the end of its bond-buying programme and the start of an interest rate hike cycle. The US reported its highest...

Maybank Securities analyst Thilan Wickramasinghe has kept “buy” on DBS Group with an unchanged target price of $37.03 after the Singapore-based lender announced that it was buying Citibank’s consumer business in Taiwan. The bank will pay a total of $2.2 billion, which comprises a premium of $9...

DBS Group Holdings will pay about NT$60 billion to buy Citigroup Inc.’s consumer bank assets in Taiwan, according to Economic Daily News. The Singapore-based lender emerged as the preferred bidder after three Taiwanese financial institutions withdrew from the bidding process, the Taipei-based publ...

2021 was a stand-out year for the Singapore corporate bond market. Issuances hit a nine-year high with total issuances of $25.3 billion on the back of a stronger macroeconomic outlook and deep liquidity in the market. It is understandable that most companies have yet to recover their pre-pandemic pr...

IHH Healthcare, on Jan 5, announced that it has been in legal tussles with US fund Emqore Envesecure Private Capital Trust since June 2020. On June 16, 2020, Emqore filed a suit against the Malaysia-headquartered healthcare group. The group was then served on July 26, 2021, with Emqore’s original ...

Social media platform Reddit said on Wednesday it had confidentially filed for a proposed initial public offering (IPO) to the U.S. Securities and Exchange Commission. (Reporting by Sonia Cheema; Editing by Rashmi Aich)

Alibaba Group Holding Ltd said on Sunday that Toby Xu, will succeed Maggie Wu as the company's chief financial officer,effective April 1, 2022. (Reporting by Akriti Sharma in Bengaluru; Editing by Rashmi Aich)