OCBC extends Bank of Ningbo partnership with new 10-year agreement
Under the agreement, OCBC will add a US$5 million training grant to develop talents from both banks
International
Business and economy news from other publishers, in Malaysia, the region and the world.
Shop closures among concerns in ancient capital
Declining trade, parking and the cost of living are among concerns in Arbory, Castletown and Malew.
China sets goals for intelligent connected new Energy vehicle industry
China's 15th Five-Year Plan for intelligent connected new energy vehicles sets 2030 targets including 70% NEV passenger market share and 11.5 kWh/100 kilometers efficiency, promoting electrification, infrastructure, safety governance, and carbon reduction to drive the automotive industry's green transformation.
BOJ faces higher bar to support yen after Fed’s hawkish hike
Observers expect a 25 bp increase at Japan central bank’s meeting this week, and will be looking for clues about further tightening
Fed hike throws Singapore banks a margin lifeline; UOB most likely to feel impact
Uplift might be more meaningful in 2027 as higher US rates filter through to Sora and bank loan books
Fed hike throws Singapore banks a margin lifeline; UOB likely to benefit more
Uplift might be more meaningful in 2027 as higher US rates filter through to Sora and bank loan books
HK, most regional markets slip in wake of rate hike
Asian shares were mostly lower on Thursday following the US Federal Reserve’s interest rate hike decision for the first time in three years. In Hong Kong, the benchmark Hang Seng Index ended trading 109 points, or 0.44 percent, lower at 24,604. The tech index was 14 points, or 0.34 percent, down at 4,310 while the China Enterprises Index was 31 points, or 0.38 percent, lower at 8,175. On the mainland, the Shanghai Composite Index closed down 16 points, or 0.41 percent, at 3,875 on turnover of 868.77 billion yuan. The Shenzhen Component Index fell 44 points, or 0.33 percent, to 13,409 on turnover of 954.36 billion yuan while the ChiNext Index was 13 points, or 0.4 percent, down at 3,298 on turnover of 443.22 billion yuan. In Tokyo, the Nikkei ended 213 points, or 0.3 percent, higher at 64,136 as investors snapped up beaten-down gaming and pharmaceutical stocks. The broader Topix gained 32 points, or 0.8 percent, to 4,094. In Seoul, the Kospi ended two points, or 0.04 percent, down at 6,715 as South Korean shares erased early gains to close little changed amid caution ahead of the Bank of Japan's policy decision. Market reactions were “pretty much expected since the rate rise was also in line with market expectation,” said Lorraine Tan, director of equity research for Asia at Morningstar on Thursday, but the ongoing Iran war is likely to keep pressure on inflation. (Reuters & Xinhua) Edited by Aaron Tam
The Fed Raised Rates. What Comes Next?
Kevin M. Warsh, the chairman of the Federal Reserve, on Wednesday left open-ended how much more interest rates may have to rise to tame inflation.
OpenAI and Anthropic are making 10 times more revenue than all Chinese AI models combined, research group Rhodium says
Rhodium Group's latest analysis of Chinese and U.S. AI companies also found that low revenue did not necessarily correspond with lower valuation.
Uncontrolled AI could lead to 'silicon species' rivalling humans, warns Microsoft
Mustafa Suleyman says he believes rival AI firm Anthropic is in effect teaching Claude it "may be conscious".
