OCBC does not expect a fresh wave of loan moratorium requests amid the extension of targeted debt holidays in Singapore, even as it continues to chalk up provisions to buffer against bad loans.
Qualcomm Inc forecast fiscal first-quarter revenue above Wall Street estimates on Wednesday as it predicted sales of 5G smart phones would balloon to more than half a billion units next year, powered in part by new Apple Inc iPhone 12 models.
Asian share markets firmed on Thursday while bonds held big gains as investors awaited a clear result from the U.S. election, with the likely prospect of policy gridlock seemingly warmly welcomed by Wall Street overnight.
Asian shares jumped on Thursday as investors cheered U.S. election results that pointed to a government less likely to impose tough financial regulations, while sterling fell on reports that the Bank of England may ease policy more than expected.
DBS Group, Southeast Asia's biggest lender, reported a 20 per cent fall in third-quarter profit on Thursday (Nov 4), hit by lower net interest income, but the results came above market estimates.
SINGAPORE banks posted lower profits for the third quarter of this year from a year ago, as the trio continue to bulk up provisions to cushion against bad loans as a result of the Covid-19 crisis.
Insurers appear to have dodged a revival of strict regulations and policy upheavals after an anticipated Democratic "Blue Wave," which would have allowed progressives to push for broad reforms, failed to materialize on Wednesday, said industry executives.
Mexican airline Aeromexico has requested permission from U.S. bankruptcy court to dismiss 1,830 employees in a cost-saving measure to weather the economic shocks of the coronavirus crisis, according to court filings filed on Wednesday.
China’s Sinovac is working with Indonesia’s Bio-Farma to produce COVID-19 vaccines and there are huge economic payoffs but significant challenges remain, says this observer.
