News
Alibaba becomes China’s new AI darling with US$87 billion rally
THE frenzy over Chinese artificial intelligence is turning Alibaba Group Holding into an investor favourite again, injecting new life into an e-commerce giant that had nearly sunk into obscurity...
DBS appoints group audit head Derrick Goh as group COO, a newly created role
SINGAPORE’S largest lender DBS has appointed its current group audit head, Derrick Goh, to assume the newly created role of group chief operating officer, said the bank on Wednesday...
Hanwha Group’s Pinetree Securities joins Alta Exchange as member firm
PINETREE Securities, the Singapore-based unit of South Korea’s Hanwha Investment & Securities, has joined Alta Exchange as a member firm. Under the strategic partnership with the Asian digital securities...
Indian central bank’s surprise, outsized intervention eases bearish bias on rupee
THE Indian central bank’s unexpected and decisive intervention in the foreign exchange markets over the past two days, worth as much as US$11 billion by one estimate, has reduced...
Commerzbank plans job cuts, new targets to keep UniCredit away: sources
GERMANY’S Commerzbank is preparing staff cuts and revamped financial targets in its efforts to fend off tie-up advances by Italy’s UniCredit, multiple sources with direct knowledge of the plans...
ABS introduces digital tool for banks to verify trade financing documents
BANKS in the Republic can now better tackle trade finance fraud with a new automated digital tool that checks the authenticity of bills of lading – supporting documents commonly...
China tightens rules on new copper smelters to curb overcapacity
China will also encourage copper smelters to sign long-term purchase agreements with global minersCHINA has tightened requirements for building new copper smelters, in its latest attempt to curb relentless...
Bank Indonesia says liquidity measure will support government housing goal
Bank Indonesia has been using similar liquidity measures to spur credit growth since 2023INDONESIA’S central bank said it will increase to 80 trillion rupiah (S$6.6 billion) the amount of...
Trump’s crypto company launches strategic ‘token reserve’
WORLD Liberty Financial (WLF), the new crypto platform in which US President Donald Trump holds a financial stake, announced that it was unveiling a strategic token reserve designed to...
CBA’s first-half profit beats estimates on strong asset quality, lending volume growth
COMMONWEALTH Bank of Australia’s (CBA) first-half cash earnings beat estimates on Wednesday (Feb 12), as lending volume growth and lower provisions for bad debts offset higher technology costs.Shares of...
