Markets

NEW YORK: Wall Street stocks rocketed higher Monday following positive news on the first clinical tests of a coronavirus vaccine, lifting shares of airlines, hotels and other beaten-down sectors. The Dow Jones Industrial Average surged 911.95 points (3.85 per cent) to 24,597.37. The broad-based S ...

IN an early sign of how the Covid-19 pandemic could change the banking scene as we know it, Singapore's second-largest bank said it expects to rejig its branch network strategy post-pandemic.

EVEN as Covid-19 inflicts pain on economies around the world, Standard Chartered continues to view Indonesia as a "strategically important", "high-potential" growth market.

RESPONDING to a surge in investors' trading interest in US equities, investment platform eToro on Monday announced that it is extending its commission-free stocks offering to clients in the Asia-Pacific with immediate effect - the first such option here for investors in Singapore.

ALIBABA Group's affiliate Ant Financial is tying up with mainboard-listed Yoma Strategic Holdings as its latest foray into the South-east Asia digital payments space takes it to Myanmar.

CLIFFORD Capital and Sumitomo Mitsui Banking Corporation (SMBC) have provided US$140 million in loans to Summit Power International's subsidiary for a power plant project in the Gazipur district of Bangladesh.

LIBOR, once dubbed the world's most important number, is scheduled to perish from the end of next year. With the fallout from the pandemic demanding the full attention of banks, it would be better to grant it an official stay of execution.

Moderna Inc's experimental COVID-19 vaccine, the first to be tested in the United States, produced protective antibodies in a small group of healthy volunteers, according to very early data released by the biotech company on Monday.

Dutch bank NIBC Holding NV said late on Monday it has agreed to pay its 2019 dividend to its proposed buyer, U.S. equity firm Blackstone Group Inc , before the deal settles, in order to remove one hurdle to the proposed 1.36 billion-euro (US$1.47 billion) takeover.

Chinese search engine giant Baidu Inc forecast second-quarter revenue above expectations after beating earnings estimates, as the world's second-largest economy reopens after lockdowns imposed to curb the spread of the coronavirus.