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Former OCBC head of consumer finance Dennis Tan appointed Prudential Singapore CEO

BANKING veteran Dennis Tan has been appointed CEO of Prudential Singapore, the insurer told The Business Times.

Markets

Danske Bank beats fourth-quarter net profit expectations

Danske Bank beat fourth quarter net profit expectations on Wednesday and said it expects to earn a net profit of 8-10 billion Danish crowns in 2020.

Markets

Mitsubishi sees virus outbreak to affect global economy, resource prices: CFO

Japanese trading house Mitsubishi Corp is closely watching the development of a spreading coronavirus in China as it will affect the global economy and prices of natural resources, its chief financial officer said on Wednesday.

Markets

Cold Turkey: investor exodus tests Erdogan’s economic experiment

A run on the lira proved a pivotal moment for Turkey's financial markets in 2018, prompting action from Ankara that has tilted the economy inward and frightened off foreign investors.

Markets

Australia court fines AMP US$3.5 million over incorrect insurance advice

Australia's Federal Court has ordered wealth manager AMP Ltd to pay a penalty of AUS$5.2 million (US$3.5 million) for failing to prevent incorrect insurance advice by financial planners, the corporate watchdog said on Wednesday.

Markets

Intel bets on smart buildings in Israel to attract tech talent

Intel Corp is investing heavily in "smart buildings" in Israel that will be full of perks to keep employees happy, helping the U.S. chipmaker compete for the country's top professionals. Intel, one of the biggest employers and exporters in Israel, said in 2019 it would invest US$11 billion to...

Markets

GM rolls back ‘radical’ plan to offer only three-cylinder engines in some China cars: sources

General Motors is backtracking on an aggressive promotion of three-cylinder engines in China that saw some Buick and Chevrolet models offered only in that option - a move which proved highly unpopular and helped sales slide, people familiar with matter said.

Markets

Australia’s wine exports could take a hit from coronavirus: industry body

Australia's wine export growth slowed last year and could take another hit in 2020 from the coronavirus outbreak if China, its biggest market, orders fewer crates, a report by an industry body said on Wednesday.

Markets

OCBC, UOB provide US$44m green loan to Myanmar conglomerate

THE Yangon branches of OCBC Bank and United Overseas Bank (UOB) have extended a US$44 million green loan to Myanmar's Shwe Taung Group.

Markets

US to review new curbs on Huawei, China in February meeting – sources

The Trump administration plans to meet this month to discuss further curbing exports to China and its flagship telecoms company Huawei, two sources said, in a bid to resolve differences within the government over the possible crackdown.

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