DBS achieves record-high Q1 profit of S$2.96b
Dividend is SGD 54 cents per share for the quarter. DBS Group’s net profit for the first three months of 2024 rose by 15% to S$2.96b compared to a year ago on the back of higher return on equity and...
Record Gold Prices Boost Recycling
Record gold prices have sent recycling of the precious metal to the highest level in more than three years, as consumers cash in on jewellery, an industry body revealed. The World Gold Council (WGC) added, however, that total demand for...
Taiwan’s economy seen expanding 5.6% in first quarter on strong exports
Taiwan's trade-dependent economy grew faster in the first quarter, supported by a rebound in exports amid upbeat demand for the technology that powers artificial intelligence (AI) applications. Gross domestic product (GDP) to have expanded 5.65% during January-March versus a year-ago...
Norway sovereign wealth fund backs HSBC bonus policy reform
Norway's $1.6 trillion sovereign wealth fund, one of the world's largest investors, will support HSBC's proposed bonus policy change for so-called material risk takers (MRTs), the Norwegian fund manager's updated voting intentions showed. HSBC, one of the world's biggest banks,...
Asian central banks in good position to move independently of Fed, says IMF
Relatively lower inflation in Asia means the region's central banks can focus more on domestic conditions and less on what the U.S. Federal Reserve might do when setting monetary policy, the International Monetary Fund said on Tuesday. The region is...
HSBC’s profit dips to $12.7b in Q1
A first interim dividend of $0.1 per share has been approved by the board. HSBC is off to a productive start in 2024 with the sale of two business units in the Americas although profits fell slightly. Profit before tax dipped...
HSBC and PayPal tackle quantum-safe cryptography in payments
HSBC and PayPal are among the founding member of a new working group investigating the adoption of quantum-safe cryptography in the payments industry. Experts predict that over the next decade cryptographically relevant quantum computers will start posing cybersecurity risks. The...
G7 agree on deal to quit coal by 2035, but with caveat
Final terms give Germany and Japan leeway to reduce their heavier coal usage. Energy ministers from the Group of Seven (G7) major democracies agreed to end the use of coal in power generation "during the first half of (the) 2030s",...
Half of world’s copper mining is at drought risk with climate change
As projections for all the copper needed in the clean-energy transition help send prices of the wiring metal to two-year highs, a new report highlights the risks to future metal supplies from climate change. Even in an optimistic low-emission scenario...
Saudi non-oil economic growth to stay steady this year
Saudi Arabia's non-oil economic growth is expected to stay broadly steady in 2024 at 3.7% and then potentially accelerate in 2025 helped by lower interest rates, says a NBK research. Despite higher interest rates, non-oil economic growth remained robust in...
