Markets

MANILA: The Philippine economy plunged by much more than expected in the second quarter, falling into recession for the first time in 29 years, as economic activity was hammered by one of the world's longest and strictest coronavirus lockdowns. The Southeast Asian nation's economy shrank by 16.5 ...

SINGAPORE: DBS Group's second-quarter net profit slumped by a fifth as it boosted loan-loss provisions in a pandemic-hit market, but Southeast Asia's top lender said bad loans this quarter were steady and fee income was rising. The profit beat market estimates and rose from the preceding quarter ...

TOKYO: Japan's powerful business lobby Keidanren is dominated by energy-intensive sectors that represent less than 10 per cent of the economy, resulting in national policies that favour coal and hindering attempts to combat climate change, a new study said. The influence of the country's ...

SYDNEY: Unemployment in Australia will peak at about 10 per cent as a result of restrictions designed to slow the spread of the novel coronavirus, Prime Minister Scott Morrison said on Thursday (Aug 6). Australia previously saw unemployment hitting a high of 9.25 per cent this year. But after ...

The head of the U.S. House Financial Services Committee and other top Democratic lawmakers on Wednesday asked federal regulators to investigate securities transactions made by Eastman Kodak and its executives around the time it learned it could receive a US$765 million government loan.

SYDNEY: Australia will spend A$1.66 billion (US$1.19 billion) over the next 10 years to strengthen the cyber defences of private companies and households following a rise in cyber attacks, Prime Minister Scott Morrison will announce on Thursday (Aug 6). Cyberattacks on businesses and households ...

SINGAPORE: DBS Group reported a 22 per cent fall in second-quarter net profit on Thursday (Aug 6) after shoring up loan loss allowances in a pandemic-hit market, but its profit came just above market estimates and rose from the preceding quarter. Piyush Gupta, CEO of Southeast Asia's biggest ......

Asia futures were mixed on Wednesday and gold traded mixed, after U.S. and European equities gained overnight on strong earnings results.

UOB on Thursday posted a 40 per cent drop in second-quarter net profit, hurt by weaker income and a surge in provisions.

UOB has set up restructuring teams to assess borrowers who have taken a debt holiday amid the gradual unwinding of government relief measures towards the end of the year.