DBS Group, Southeast Asia’s largest bank, recently announced record earnings for the full year in 2023, reaching a net profit of SG$10.3 billion, a 26% increase compared to the previous year. However, despite this success, the bank made the decision to significantly reduce the variable compensation of its senior management as a means of holding
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Most Asia-Pacific markets experienced declines on Tuesday, following a downward trend in Wall Street. These market movements were driven by investor anticipation of the interest rate decision from the Reserve Bank of Australia later in the day. Twenty-nine economists, who were surveyed by Reuters, unanimously predicted that the RBA would maintain rates at 4.35%. This
Asia markets began the holiday-shortened week on a mixed note, as investors eagerly awaited policy decisions from key central banks. The Reserve Bank of Australia and the Reserve Bank of India were expected to provide updates on Tuesday and Thursday, respectively. Additionally, private surveys on service sector activity were scheduled to be released from China
Russia has accused Ukraine of launching a deadly attack on a bakery and restaurant in Lysychansk, a city in the Russian-controlled eastern Ukraine. According to Russian officials, at least 28 people, including nine women and a child, were killed in the strike, which occurred on Saturday. The Russian-backed authorities claim that Ukraine used Western-supplied rockets,
Northern Ireland’s political landscape witnessed a monumental shift on Saturday as Michelle O’Neill, an Irish nationalist, was appointed as the region’s First Minister for the first time in history. This historic milestone marks a significant departure from the century-old dominance of pro-British unionists. The appointment, though delayed due to the watershed 2022 election, reflects the
The market for AI PCs is rapidly expanding, and chip giant Advanced Micro Devices (AMD) is ready to compete with industry leaders such as Nvidia and Intel. In an exclusive interview with CNBC, AMD’s president, Victor Peng, expressed his confidence in the growth of AI PCs, highlighting the firm’s expectation of increased adoption in the
Meta, the parent company of Facebook, has stunned the market with its fourth-quarter earnings report. The tech giant exceeded analysts’ expectations in both earnings and revenue, resulting in a 15% surge in its stock price in after-hours trading. The company reported earnings of $5.33 per share, surpassing the predicted $4.96 per share estimated by LSEG
Wall Street’s assessment of the quarterly results of Alphabet and Microsoft indicated that the numbers were good, but not up to par with investors’ high expectations. Both tech giants reported impressive revenue and earnings that surpassed estimates. However, the stocks experienced a sell-off in extended trading. This reaction can be attributed to the fact that
Quiet luxury has emerged as a prominent trend in the fashion industry, transcending its viral status on social media platforms like TikTok and Instagram. Unlike other short-lived fads, quiet luxury has made its way into investor portfolios and has proven to deliver actual returns. This trend revolves around understated, subtle displays of opulence, moving away
In Singapore, the central bank recently announced its first quarterly monetary policy decision of 2024. As expected, the Monetary Authority of Singapore decided to maintain its exchange rate policy band, known as the Singapore dollar nominal effective exchange rate or S$NEER. This decision by the central bank will have a significant impact on the country’s