SINGAPORE: DBS Group reported a 22 per cent fall in second-quarter net profit on Thursday (Aug 6) after shoring up loan loss allowances in a pandemic-hit market, but its profit came just above market estimates and rose from the preceding quarter. Piyush Gupta, CEO of Southeast Asia's biggest ......
Asia futures were mixed on Wednesday and gold traded mixed, after U.S. and European equities gained overnight on strong earnings results.
UOB on Thursday posted a 40 per cent drop in second-quarter net profit, hurt by weaker income and a surge in provisions.
UOB has set up restructuring teams to assess borrowers who have taken a debt holiday amid the gradual unwinding of government relief measures towards the end of the year.
The United States wants to see 'untrusted' Chinese apps removed from US app stores, US Secretary of State Mike Pompeo said on Wednesday, calling the Chinese-owned short-video app TikTok and messenger app WeChat 'significant threats'.
DBS on Thursday posted a 22 per cent fall in second-quarter net profit, dragged by further provisions and flat total income.
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 the full impact of interest rates continue to flow through its loan book.
Uber said on Thursday it was buying the British tech company Autocab, which sells booking and dispatch software to private hire firms, in a move that will allow the taxi app to reach customers where it does not currently operate.
Novavax Inc said on Wednesday it has entered a supply and license agreement with the Serum Institute of India for the development and commercialization of its COVID-19 vaccine candidate.
A U.S. Republican congressman urged the Trump administration to review millions in coronavirus stimulus loans paid to U.S. companies with ties to China's aviation and defense industries, amid deepening tensions between Beijing and Washington.
