News
OCBC conservative about FY2025 targets amid trade tensions, uncertainties
OCBC rode on the strength of macroeconomic tailwinds to register healthy growth for the full year ended December, as net profit hit a record high. But its management is...
Indonesia reaches pact with Apple, signalling end for iPhone ban
APPLE has signed an agreement with Indonesia to invest in the country, paving the way for sales of the iPhone 16 to resume in South-east Asia’s largest nation.
The agreement...
Thai central bank cuts key policy rate amid slow growth, trade policy risks
THAILAND’S central bank cut its benchmark interest rate by a quarter percentage point on Wednesday (Feb 26), a move it said was a response to a weaker growth outlook...
CDL CEO Sherman Kwek disappointed by father’s “extreme actions” against him after suits filed
CITY Developments Ltd (CDL) group chief executive officer Sherman Kwek said recent changes to the board have “never been about ousting our esteemed chairman”, responding to moves by his...
Great Eastern privatisation is ‘natural progression’ in bank’s strategy: OCBC CEO Helen Wong
THE full integration of Great Eastern into OCBC will help the lender realise more synergistic value, by providing more opportunities for the bank to work closer with the insurer,...
Alibaba makes AI model for video, image generation publicly available
CHINESE e-commerce leader Alibaba said on Wednesday (Feb 26) that its video- and image-generating artificial intelligence (AI) model Wan 2.1 is now publicly available – or open source –...
Battle erupts between billionaire Kwek Leng Beng and son Sherman Kwek for control of CDL
A tussle between father and son for control of property giant City Developments Limited (CDL) was revealed on Feb 25 with executive chairman Kwek Leng Beng publicly criticising his...
BP to up oil and gas output, slash clean energy spend in overhaul
BP PLANS to increase production of its more profitable oil and gas business and slash investment in cleaner energy, the British energy giant announced on Wednesday (Feb 26) to...
BP to unveil strategy shakeup amid energy transition
BRITISH energy giant BP is set on Wednesday to announce a shakeup to its strategy after a difficult trading year and as countries transition to cleaner energy.A much anticipated...
China must cut 15% of steel capacity to meet 2025 climate goals
CHINA needs to tackle its steel glut by cutting 15 per cent of capacity this year, if mills are to meet their 2025 climate goals and return to profitability,...
