SINGAPORE: Singapore's second-largest lender Oversea-Chinese Banking Corp reported a larger-than-expected 40% tumble in quarterly net profit on Friday, hurt by loan-loss provisions in a pandemic-hit market and a slowdown in customer activity. Net profit declined to S$730 million (US$533.31 ...
IN THE first case before the Singapore courts associated with scandal-hit German payments company Wirecard, Singaporean R Shanmugaratnam has been slapped with four charges of falsifying letters that stated bogus balances held by his company’s accounts.
OCBC on Friday posted a larger-than-expected 40 per cent fall in Q2 net profit on surging provisions, as the bank joined its peers in bumping up provisions to buffer against bad loans to emerge amidst the pandemic-fuelled crisis.
OCBC's Q2 net profit fell by a larger-than-expected 40 per cent after it took S$350 million in provisions to write down the carrying value of the existing offshore support vessels (OSVs) that back corresponding impaired loans - a move that has crunched down its exposure to the...
Saudi Arabia and Iraq have stressed their full commitment to the OPEC+ deal, Iraqi state news agency said on Friday.
Intercontinental Exchange Inc said on Thursday it would buy Ellie Mae, a cloud-based platform provider for the mortgage finance industry, from private equity investment Thoma Bravo in a deal valued at US$11 billion.
Asia shares were poised to open higher on Friday, tracking global equity markets' overnight gains as investors awaited a U.S. nonfarm payrolls report.
SoftBank Group Corp is seen booking a 75per cent first-quarter profit plunge on Tuesday, albeit making a return to profitability, as the coronavirus outbreak continued to weigh on the tech bets of CEO Masayoshi Son's US$100 billion Vision Fund.
Facebook Inc will allow employees to work from home until July 2021 due to the coronavirus outbreak and will give them US$1,000 for home office needs, a spokeswoman for the social media giant said on Thursday.
Shaming those who carry shares in fossil fuel companies would be passing up an opportunity for shareholder activism, say observers.
