DBS chief Piyush Gupta expects top line and net interest margin (NIM) - a key indicator of profitability for banks - to deteriorate over the rest of the year as it battles interest rate headwinds that threaten to drag down income.
UNITED Overseas Bank (UOB) has set up restructuring teams to assess borrowers who have taken a debt holiday amid the gradual unwinding of government relief measures as the year end approaches.
SHARES of local banking trio rose on Thursday, as investors found some cheer from conservative provisions set aside by DBS and UOB and an unchanged outlook guidance in their latest quarterly results released before market open.
CLOSING doors to focus on national priorities during a pandemic is a false answer, a Singapore-based think tank suggested on Thursday, and what Asean needs is instead greater transparency and integration for a strong recovery.
President Donald Trump on Thursday moved to reimpose 10per cent tariffs on some Canadian aluminum products to protect U.S. industry from a "surge" in imports, angering Ottawa and some U.S. business groups.
AMC Entertainment Holdings Inc said on Thursday it expects all its international theaters to resume operations in the next two to three weeks, while two-thirds or more of its U.S. theaters are set to reopen later this month.
Trump administration officials have urged the president to delist Chinese companies that trade on U.S. exchanges and fail to meet U.S. auditing requirements by January 2022, Securities and Exchange Commission and Treasury officials said on Thursday.
Uber Technologies Inc said demand for its food-delivery service more than doubled in the second quarter as many users remained largely homebound, while demand for ride-hailing trips was only marginally recovering from pandemic rock-bottom.
T-Mobile US Inc said on Thursday it added more monthly bill paying phone subscribers than expected in the second quarter, as more people used its services to stay connected and work remotely during coronavirus lockdowns.
Argentina's US$65 billion debt restructuring agreement with bondholders will likely lead to credit upgrades but is far from ensuring the country's longer-term economic future, rating agencies told Reuters on Thursday.
