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Maintaining liquidity a short-term hit to NIMs, but long-term benefit to fees, customer growth: UOB CEO
UOB’s net interest margins (NIMs) have taken a hit from the bank’s prudent move to protect liquidity. But investors should look beyond NIMs and understand the benefits that liquidity can…
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HSBC’s record annual profit marred by US$3 billion China hit; shares slide
HSBC Holdings reported a record annual profit on Wednesday (Feb 21), although it missed estimates because of a US$3 billion charge on its stake in a Chinese bank amid mounting…
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India’s Heritage Hit By Delhi ‘Development’ Demolitions
For nine centuries, Indians prayed at the forest shrine of Baba Haji Rozbih, a revered Sufi saint whose grave is one of the capital Delhi’s oldest Islamic sites. Then, in…
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Air New Zealand warns competition, slow demand will hit earnings
AIR New Zealand warned that earnings will drop in the six months to June amid increased competition from United States rivals and slowing corporate demand. Full-year pretax profit could drop…
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GlobalFoundries forecasts hit as chip customers seek advanced processes, clear inventory
GLOBALFOUNDRIES forecasts its first quarter below market estimates on Tuesday (Feb 13), as some customers continue to clear excess chip inventory while others opt for more advanced manufacturing processes which…
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Travel Chaos As US Northeast Hit By Snowstorm
The northeastern United States was engulfed by snow Tuesday as a powerful winter storm battered the region, blanketing New York for the first time in two years and causing flight…
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Israeli Strikes Hit Multiple Locations On Outskirts Of Damascus, Says Syrian Army
KEY POINTS The Syrian military said Saturday that Israeli strikes hit several sites on the outskirts of the capital “Some material losses” were caused in what was the second such…
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PepsiCo signals demand hit from price hikes with rare sales decline
PEPSICO on Friday (Feb 9) reported a surprise drop in quarterly sales and forecast a sharp slowdown in organic revenue growth for 2024 as multiple price hikes weigh on demand…
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China January new bank loans hit record high on policy support
NEW bank loans in China jumped by more than expected to an all-time high in January, as the central bank moves to shore up the sputtering economy. Policymakers have pledged…
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HSBC partners Google to hit US$1 billion climate tech finance goal
BRITAIN’S biggest bank HSBC has partnered with Google to finance fast-growing climate technology firms behind some of the world’s most promising solutions to global climate change, executives from both firms…
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Crypto ransom attack payments hit record US$1 billion in 2023: Chainalysis
PAYMENTS from crypto-related ransom attacks nearly doubled to a record US$1 billion in 2023, blockchain analytics firm Chainalysis said on Wednesday (Feb 7). Scammers targeting institutions such as hospitals, schools…
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Why Germany Is Being Hit By Strikes Almost Every Day
A wave of strike action has brought Germany to a standstill in recent weeks, as Europe’s largest economy has struggled for growth and consumers have felt the pinch from sky-high…
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DBS posts 3% drop in Q4 profit to S$2.27b; full-year earnings hit record S$10.06b
DBS reported net profit of S$2.27 billion for the fourth quarter ended December, 3 per cent lower than the S$2.34 billion recorded in the year-ago period. The net profit, which…
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Asia Markets Take A Hit As Blockbuster US Jobs Batter Rate Cut Hopes
Asian markets mostly fell Monday after a forecast-busting US jobs report and comments by Federal Reserve boss Jerome Powell shattered any remaining hopes for a March interest rate cut. Decision-makers…
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Deadly Strikes Hit ‘Pressure Cooker’ Rafah Ahead Of Gaza Truce Push
Deadly strikes were reported early Saturday in the overcrowded Gaza border town of Rafah — dubbed a “pressure cooker of despair” by the UN — as international mediators readied a…
