Posts by Liam Redmond
Cisco and IBM show old-school tech names can be AI winners too
WHILE many of the biggest and most popular technology stocks have stumbled out of the gates in 2025, some of the sector’s legacy names are drawing renewed attention. Companies such as Cisco Systems, International Business Machines (IBM), and Oracle are outperforming this year, as they signal that they, too, can be winners in the crucial…
Read MoreHong Kong expands virtual asset push with new licensing, trading options
HONG Kong is expanding the ways investors can trade virtual assets, its financial regulator said on Wednesday (Feb 19), as the city races to become Asia’s digital assets hub and attract capital. The Securities and Futures Commission will establish new licensing regimes for over-the-counter trading in virtual assets and for custody services, aiming to boost…
Read MoreHong Kong eyes crypto derivatives, margin lending in digital asset push
HONG Kong is considering approving derivatives and margin lending in virtual assets for some investors, its financial regulator said on Wednesday (Feb 19), as the city seeks to boost its competitiveness as a digital assets hub and attract capital. Hong Kong first drew up a plan to become a virtual asset trading centre in 2022…
Read MoreHong Kong banks tap most funds since 2019 as stock demand soars
HONG Kong banks borrowed the largest amount of short-term cash in more than five years on Tuesday (Feb 18), as they sought to keep up with a booming demand for local equities. The Hong Kong Monetary Authority – the city’s de-facto central bank – loaned out HK$5.5 billion (S$950 million) through its discount window, the…
Read MoreFTX refunds: Temasek, BlackRock, SoftBank, Sequoia, Tom Brady, Shaquille O’Neal likely beneficiaries
AFTER more than two years of hand-wringing, creditors of bankrupt crypto exchange FTX are heaving a sigh of relief as the trading platform’s estate starts paying cash back to creditors this week. FTX reportedly owed creditors about US$11.2 billion (S$15 billion) but has between US$14.5 billion and US$16.3 billion to distribute to customers and non-governmental…
Read MoreTrump orders DOJ to terminate all remaining ‘Biden Era’ US attorneys: ‘We must clean house’
President Trump on Tuesday announced that he instructed the Justice Department to terminate all US attorneys appointed under the Biden administration – claiming the federal agency has been “politicized like never before.” Trump, 78, who has repeatedly argued former President Joe Biden “weaponized” the DOJ to bring federal charges against him, said his latest slew…
Read MoreUOB hits a fresh high, with Singapore’s STI reaching yet another record
At the open, the counter edges up 1.3 per cent or S$0.50 to an all-time high of S$39.15 SHARES of UOB rose to a new high on Wednesday (Feb 19) morning, after it announced the establishment of a S$3 billion capital distribution package in tandem with its fourth-quarter results. At the open, the counter edged…
Read MoreBorrowing strain hits NAB’s Q1 profit, shares dive
NATIONAL Australia Bank, the country’s biggest business lender, said on Wednesday that first-quarter profit slipped as competition for customers ate into margins and more borrowers fell behind on repayments, sending its shares tumbling. The result amounts to what Australian banks hope is the end of a tough period dominated by rising arrears and margin sacrifices…
Read MoreChina revamps power market rules in challenge to renewables boom
CHINA’S unprecedented boom in renewable energy is facing a fresh challenge from government rules that will allow market forces to determine the price of new wind and solar power. The mandate from Jun 1 is likely to slow clean energy additions, although not enough to threaten the country’s status as the world’s biggest installer of…
Read MoreSingtel’s Q3 profit surges 183.4% to S$1.3 billion on exceptional gains
SINGTEL’S net profit for the third quarter ended Dec 31 climbed 183.4 per cent to S$1.3 billion from S$465 million in the same period the year before. This was mainly attributed to a net exceptional gain of S$639 million, compared to a net exceptional loss of S$94 million in the same period the previous year,…
Read MoreHSBC to sell Bahrain retail banking operations as restructuring progresses
The deal will see a transfer of retail loans, deposits and accounts of about 76,000 customers to BBK HSBC on Tuesday (Feb 18) agreed to sell its retail banking operations in Bahrain to the Bank of Bahrain and Kuwait (BBK) amid a global restructuring at the bank. The deal will see a transfer of retail…
Read MoreCIA flying spy drones ‘well into Mexico’ as part of Trump crackdown on deadly drug cartels
The CIA has sent drones on secret missions over Mexico to spy on drug cartels — and may use them for armed strikes, according to former and current officials. The covert missions, carried out with MQ-9 Reaper drones, are sizing up the drug gangs and their laboratories over the southern US border as a possible…
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