Posts by Swedan Margen
Analysts raise price targets on DBS after Q1 earnings
[SINGAPORE] Analysts raised price targets for shares of DBS, following its first quarter results release on Thursday (May 8). The bank’s net profit at S$2.9 billion for the three months ended Mar 31 – 2 per cent lower than the S$2.95 billion from the same year-ago period. However, it beat the S$2.87 billion consensus forecast…
Read MoreGermany’s DAX Index hits record high after tariffs round trip
[FRANKFURT] Germany’s DAX Index became the first major European gauge to surpass its March record high, recouping all declines sparked by US President Donald Trump’s trade war. The stock index rose as much as 0.8 per cent to a level of 23,528.88, exceeding the intraday peak set on March 18. The pan-European Stoxx 600 Index…
Read MoreIndonesia eyes cut in fuel imports from Singapore as part of tariffs negotiations
Indonesia could shift as much as 60% of its total fuel imports from Singapore to the United States in the early stages Published Fri, May 9, 2025 · 04:18 PM [JAKARTA] Indonesia plans to change the source of some of its fuel imports from Singapore to the United States as part of negotiations over steep…
Read MoreForeign banks sell record Indian sovereign debt as tensions rise
[NEW DELHI] Foreign banks sold a record amount of Indian government bonds on Thursday (May 8), as a growing border conflict with Pakistan weighs on investor sentiment. They sold a net US$1.2 billion of the debt, a high according to data from the Clearing Corp of India going back to 2006. The move signals growing…
Read MoreOCBC keeps 2025 guidance, but loan growth targets could be buffeted by headwinds: CEO Helen Wong
[SINGAPORE] OCBC is keeping its financial targets for 2025, but noted that its loan growth guidance of a mid-single digit will likely see the most headwinds, especially if the market continues to be “very uncertain”, said chief executive officer Helen Wong. Nevertheless, current trade tariffs are expected to have a “first-order impact” on 3 per…
Read MoreSingapore banks set aside extra allowances to account for heightened uncertainty
[SINGAPORE] The local banking trio have taken extra allowances in their first-quarter 2025 results amid a rise in uncertainty in the macroeconomic environment. DBS, OCBC and UOB each said this was a pre-emptive step to beef up their reserves as they navigate the impact of US tariffs and a possible economic slowdown, even as asset…
Read MoreAsia: Stocks lifted by hopes for US-China talks after UK deal
[HONG KONG] Most Asian equities rose on Friday (May 9) on growing optimism that the worst of US President Donald Trump’s trade war is past after he reached a deal with Britain and suggested he could lower tariffs on China as officials prepare for high-stakes talks this weekend. The mood among investors has improved substantially…
Read MoreBain Capital to sell China data centre business likely valued at over US$4 billion: sources
[HONG KONG] US investment firm Bain Capital is seeking to sell the China business of data centre operator WinTriX DC Group, in a deal that could value the business at over US$4 billion, two sources with knowledge of the situation said. Bain Capital has engaged with advisers who have held preliminary conversations with potential buyers…
Read MoreMarco Polo Marine posts 3.4% decline in H1 profit to S$10.6 million
[SINGAPORE] Marco Polo Marine on Friday (May 9) posted a 3.4 per cent year on year decline in H1 net profit to S$10.6 million, from S$11 million. The results translate to earnings per share of S$0.0028, against S$0.0029 in the same period last year. No dividend was declared for the half year, unchanged from the year before.…
Read MoreUS sanctions on China refiners over Iran oil disrupt operations: sources
[SINGAPORE] Recent US sanctions on two small Chinese refiners for buying Iranian oil have created difficulties receiving crude and led them to sell product under other names, sources familiar with the matter said, evidence of the disruption that Washington’s stepped-up pressure is inflicting on Tehran’s biggest oil buyer. The targeting of independent refiners, known as…
Read MoreA Day in the Live-Streamed Life of Donald Trump
In Donald Trump’s first term, he reinvented many things about how the job of President was done. The strictly scheduled day of his predecessors—the rigid procession of fifteen-minute meetings, the early-morning starts—was not for him. Instead, much of his “executive time” was spent in the small dining room off the Oval Office—a place eventually made…
Read MoreLuxury labels ditch steep China discounts to rebuild brand value
[HONG KONG] Some luxury labels are pulling back from steep markdowns in China, seeking to rebuild an image of exclusivity to lure back wealthy shoppers whose spending remains less affected by the economic slowdown. None of the products sold by Kering’s Balenciaga on Tmall, China’s dominant e-commerce platform, were discounted in the first quarter of…
Read More