Markets

SINGAPORE: Singapore's DBS Group reported a one-third fall in quarterly net profit, in line with estimates, as it booked higher loan losses in pandemic-hit markets but gave an optimistic view for this year. Piyush Gupta, CEO of Southeast Asia's biggest lender, said latest economic data supported a ...

Asian stocks inched higher on Wednesday, as upbeat Wall Street earnings and optimism about a global recovery supported sentiment, although concerns about the sustainability of a recent risk rally are likely to cap gains.

DBS is seeing encouraging signs on overall asset quality in 2021 as moratoriums gradually taper off, with extensions on debt holidays contained and delinquencies kept low.

U.S. shale producer Chesapeake Energy Corp on Tuesday exited Chapter 11 bankruptcy with business plan that nods to its founders' emphasis on natural gas after a recent push into crude oil.

Lyft said on Tuesday (Feb 9) it stood by its goal to become profitable on an adjusted basis by the end of this year despite the pandemic, forecasting a rebound in ride-hail demand beginning in the second quarter of 2021.

Besides low tax rates, Singapore’s regulatory changes are attracting more family offices to set-up here and that could have a multiplier effect on the economy, says David Kuo.

The price of the “memecoin” surged more than 800 per cent on Jan 29 – a boost coinciding with that of GameStop’s share price, say finance professors.

Twitter on Tuesday posted 27 per cent user growth, missing Wall Street estimates, and warned this rate would slow in the upcoming quarters as a boost from the pandemic fizzles.

Cisco Systems Inc forecast current-quarter revenue above analysts' estimates on Tuesday as the pandemic-induced rise in remote working drives up demand for its networking and teleconferencing tools.

President Joe Biden said on Tuesday (Feb 9) he agreed with a proposal by Democratic lawmakers that would limit or phase out stimulus payments to higher-income individuals as part of his US$1.9 trillion coronavirus relief bill.