Business
H&M Net Profit Down 53% in Fiscal Q1 As Gross Margin Contracts
PARIS – Hennes & Mauritz AB said net profit halved in the first quarter as its gross margin came under pressure from markdowns, ongoing…
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Business
SK Hynix says some customers brought forward orders ahead of US tariffs
South Korea’s SK Hynix, the world’s second-largest memory chipmaker, said on Thursday (Mar 27) that some customers have brought forward…
Business
BlackRock’s head of Asia-Pacific private credit Celia Yan to leave firm
Her team has deployed over US$200 million in 2024, over US$1.8 billion historically and been able to generate a 16 per cent gross internal…
Business
Foxconn plans EV event in Japan to woo manufacturers: sources
Foxconn is set to hold a seminar in Japan on April 9 to lay out its strategy on electric vehicles, two sources with direct knowledge of…
Business
Singtel’s NCS expands in the Philippines through a joint venture for clients to better access services
Move marks a significant point in company’s Apac growth journey, says CEO Ng Kuo Pin NCS, Singtel’s technology services arm, announced on…
Business
Hong Kong lures investment firms Ardian, Arga seeking expansion
Two investment firms are setting up offices in Hong Kong to attract money from the region, the latest sign of renewed financial activity…
Business
Marcolin Sees Profitability Growth in 2024 Amid Stable Sales and Strategic Brand Expansion
MILAN — Eyewear firm Marcolin closed 2024 on solid ground, with improved profitability and growth in the key Europe, Middle East and…
Business
Turkey says Chery Auto’s partners to invest US$1 billion in plant to make 200,000 cars a year
[ANKARA/BEIJING] Turkey said on Wednesday (Mar 26) that Chery Automobile’s partners will invest US$1 billion in a manufacturing facility…
Business
Microsoft pulls back from more data centre leases in US and Europe: analysts
Alphabet has said it will spend US$75 billion on its AI buildout this year, 29 per cent more than Wall Street expected, while Meta has…
Business
UOB set to issue US$2 billion in dollar-denominated notes across 3 tranches
UOB is set to issue US$2 billion in a three-tranche US dollar-denominated senior bond offering, it said on Thursday (Mar 27). The notes…
Business
Nissan’s new CEO says it needs partners and is open to Honda
Nissan Motor’s incoming chief executive officer said he’s open to pursing a partnership with Honda Motor, the Japanese peer his carmaker…
Business
Paragon Reit unitholders to vote on proposed privatisation on Apr 22
Unitholders will vote on the proposed privatisation of Paragon Reit in an extraordinary general meeting (EGM) and scheme meeting on Apr…
Business
Robinhood, moving beyond meme stocks, now wants to be your bank
Robinhood Markets has moved past its meme stock days to become known as the go-to trading platform for retail investors of all stripes –…
Business
Kristi Noem to visit Salvadorean jail holding deported Venezuelans
Will Grant Mexico, Central America and Cuba correspondent Reporting from San Salvador Video shows alleged gang members deported by US in…
Business
Apple says Indonesia iPhone sales ban ends in April
The country has also banned the sale of Google Pixel phones for failing to meet the 40 per cent local parts requirement Teach giant Apple…
Business
China raises record 1.45 trillion yuan from bonds in stimulus signal
China ramped up debt issuance this quarter, a move that both signals authorities’ priority on stimulating growth and efforts to prevent a…
Business
China banks ramp up bad property loan disposals to boost economy
China’s big banks are accelerating a drive to write off soured property loans to clean up their balance sheets as they heed calls by…
Business
Struggling Cathay Cineplexes to shut JEM outlet on Thursday
Struggling cinema chain Cathay Cineplexes will wind down business operations at its Jem outlet in Jurong East on Thursday (Mar 27). This…
Business
OpenAI nears record US$40 billion funding round led by SoftBank
OpenAI is close to finalising a US$40 billion funding round led by SoftBank Group – with investors including Magnetar Capital, Coatue…
Business
Indonesia to use one million African weevils to spur palm output
Indonesia is betting on tiny bugs from Africa to help boost its palm oil production, as the broader sector grapples with tightening supply…
Business
Stocks to watch: Paragon Reit, mm2 Asia, ST Engineering, UMS Integration
The following companies saw new developments that may affect trading of its securities on Thursday (Mar 27). Paragon Reit: The manager has…
Business
Citigroup hiring dealmakers in Japan with fee pool seen reviving
Citigroup is expanding its investment banking team in Japan as the Wall Street firm bets that the country’s deal fee pool will finally…
Business
Atomfall: How a forgotten nuclear disaster inspired a video game
Peter Gillibrand & Tom Richardson BBC Newsbeat Fukushima. Three Mile Island. Chernobyl. Places that will forever be remembered as the…
Business
UOB taps rising South Korean interest in Asean with new FDI advisory centre in Seoul
South Korean firms eyeing expansion into Asean can now tap UOB’s support, following the launch of its Foreign Direct Investment (FDI)…