Posts by Liam Redmond
Higher casino takings drive MBS’ revenue for Q4 2024
MARINA Bay Sands (MBS) posted a 7.2 per cent rise in net revenue to US$1.14 billion for the fourth quarter ended Dec 31, 2024, amid ongoing renovation and refurbishment efforts, as it focuses on “high-value tourism” in Singapore. All the group’s segments recorded growth, with the casino business – which is the largest contributor to…
Read MoreCapitaLand Ascott Trust acquires two freehold hotels in Japan for 21b yen
CAPITALAND Ascott Trust (Clas) has acquired two freehold limited-service hotels in Japan – ibis Styles Tokyo Ginza and Chisun Budget Kanazawa Ekimae – for 21 billion yen (S$178.5 million). The acquisition is part of Clas’ portfolio reconstitution strategy to enhance the quality of its portfolio and deliver stable returns to its stapled securityholders, said Serena…
Read MoreSats acquires remaining 15% stake in Sats Food Solutions (Thailand)
The unit will serve as a centre of excellence for large-scale fresh frozen production in the group’s food solutions network CATERING and ground handling company Sats has acquired the remaining 15 per cent stake in Sats Food Solutions (Thailand) (SFST) from Bangkok Ranch for about S$3.4 million. In a bourse filing on Friday (Jan 31),…
Read MoreSamsung warns of slow AI chip sales in Q1, hurt by US restrictions on China
SAMSUNG Electronics on Friday warned of sluggish sales of its artificial intelligence chips in the current quarter due to U.S. export restrictions to China, and as it worked towards launching an improved version of its high-end chips. Advanced chips used for AI have been the bright spot in the weak memory chip market, but rival…
Read MoreSembcorp to enter the Philippines’ renewable energy market via acquisition
The proposed deal’s total consideration is about S$105 million and is expected to be completed in H2 2025 SEMBCORP Industries announced in a bourse filing on Friday (Jan 31) that its wholly owned subsidiary has signed a share purchase agreement with CleanCurrent Renewable Energy in the Philippines for a 100 per cent stake in Puente…
Read MoreMusk-Trump bromance turns X debt from burden to asset for Morgan Stanley
JUST a few months ago, Morgan Stanley was stuck with billions of US dollars of unloved debt tied to Elon Musk’s controversial 2022 buyout of social-media platform Twitter. It took one election and a billionaire bromance to flip the script. Helped by Musk’s singular relationship with President Donald Trump and the tech mogul’s newfound proximity…
Read MoreMarkets price in fewer rate cuts as Fed holds on tariff uncertainty, persistent inflation
Industry watchers expect that lack of clarity over Trump’s policies will continue to weigh on US central bank’s movements GLOBAL markets are pricing in fewer rate cuts for the year as the US Federal Reserve unsurprisingly kept rates on hold on Wednesday (Jan 29). In the first Federal Open Market Committee meeting of the year,…
Read MoreBOJ must maintain monetary support, says governor Ueda
BANK of Japan (BOJ) governor Kazuo Ueda said on Friday (Jan 31) that the central bank must maintain loose monetary policy to ensure underlying inflation gradually accelerates towards its 2 per cent target. While consumer inflation has moved above the BOJ’s 2 per cent target recently, the increase was driven mostly by cost-push factors such…
Read MoreGold hits record high as Trump tariff threats aid haven demand
GOLD rose to a record high as investors flocked to safety after US President Donald Trump reiterated threats to impose tariffs on Mexico and Canada. Bullion briefly topped US$2,800 an ounce for the first time ever on Friday (Jan 31) after jumping 1.3 per cent on Thursday and blowing past the previous all-time peak set…
Read MoreNissan, Honda to announce direction of possible integration by mid-February, Nissan says
NISSAN Motor will aim to announce the direction of its possible integration with Honda Motor by mid-February, a company spokesperson said on Friday, pushing back the plan from the end of January. The two Japanese automakers have been in talks to explore a merger by 2026, in a historic pivot for Japan’s auto industry that…
Read MoreSamsung Electronics posts 129.85% jump in Q4 operating profit
SAMSUNG Electronics said on Friday its operating profits surged 129.85 per cent year-on-year in the fourth quarter of 2024, but fell from the previous quarter as it struggled to meet demand for chips used in artificial intelligence servers. The company is the flagship subsidiary of South Korean giant Samsung Group, by far the largest of the family-controlled…
Read MoreTaylor Swift and Donna Kelce issue warning to Travis ahead of New Orleans Super Bowl
Taylor Swift and Donna Kelce warned Travis Kelce about his partying on Sunday night before he travels to New Orleans for the Super Bowl. Getty Images On a tight leash. Taylor Swift and Donna Kelce warned Travis Kelce about his partying before he travels to New Orleans for the Super Bowl LIX. The Kansas City…
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