Header-template

 Global News

Subscribe our Newsletter

Subscribe to our mailing list to get the latest updates straight in your inbox.

BUSINESS NEWS

DBS Group DBSM.SI Beats Expectations with 2% Increase in Q4 Net Profit

The biggest bank in Singapore, DBS Group DBSM.SI, announced a 2% rise in net profit for the fourth quarter, exceeding forecasts and keeping projection

The biggest bank in Singapore, DBS Group DBSM.SI, announced a 2% rise in net profit for the fourth quarter, exceeding forecasts and keeping projections for net interest income at levels similar to last year. Notwithstanding expected declines in interest rates and global unrest, CEO Piyush Gupta voiced confidence in maintaining performance. By 2024, the bank hopes to achieve doubledigit growth in fee income and a return on equity ROE of 15% to 17%. DBS expects more robust earnings due to higher interest rates, even if the fullyear Net Interest Margin NIM is forecast to be slightly below the fourth quarters 2.13%. However, growth may decelerate amid central bank rate reduction and market volatility. The bank suggested a 1for10 bonus issue and a final dividend of 54 cents per share. Read More..

B2B Tech News | 1 years ago        

Fortinet Surges 10.4% in Extended Trading After Beating Q4 Profit Expectations

Fortinets fourthquarter profit surpassed analyst estimates, primarily due to rising business cybersecurity investment in the face of growing cyber thr

Fortinets fourthquarter profit surpassed analyst estimates, primarily due to rising business cybersecurity investment in the face of growing cyber threats. Following the news, the companys shares increased 10.4% in extended trade. While Fortinet was smaller than industry titans like Palo Alto, its diverse portfolio drew a sizable clientele. Compared to LSEG forecasts of 43 cents per share, adjusted earnings were 51 cents per share. Benefits for the quarter included delayed income from agreements that closed during the quarter and a moderate seasonal budget flush. Six agreements totalling more than $10 million were closed, according to CFO Keith Jensen. Revenue for the first quarter of 2024 is expected to range from $1.30 billion to $1.36 billion, slightly less than experts had predicted. Nevertheless, fourthquarter sales exceeded analysts average expectation of $1.41 billion, reaching $1.42 billion. Read More..

B2B Tech News | 1 years ago        

Sumitomo Mitsui Banking Corp Appoints Carsten Stoehr as Deputy Head for Asia Pacific

The central banking unit of Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking Corp SMBC, has appointed Carsten Stoehr, a former CEO of Credit S

The central banking unit of Sumitomo Mitsui Financial Group, Sumitomo Mitsui Banking Corp SMBC, has appointed Carsten Stoehr, a former CEO of Credit Suisse for Greater China, as its deputy head for the Asia Pacific region. Before Credit Suisses merger with UBS in March 2023, Stoehr worked there for over 25 years. He will oversee structured lending and private wealth businesses from Singapore across the APAC region in his new position. Stoehr will report to SMBCs regional coheads. Read More..

B2B Tech News | 1 years ago        

Reserve Bank of Australia Keeps Rates Steady at 4.35% as Inflation Remains a Worry

The Reserve Bank of Australia RBA, the countrys central bank, has maintained interest rates at 4.35%. The decision, which was expected, was made in th

The Reserve Bank of Australia RBA, the countrys central bank, has maintained interest rates at 4.35%. The decision, which was expected, was made in the context of worries about inflation, which is still high even if it somewhat decreased in the fourth quarter. The Reserve Bank of Australia said that before it considers changing interest rates, it wants further proof of sustained inflation. Since May 2022, the bank has increased interest rates by 425 basis points to combat persistently rising inflation nevertheless, new data on the economy and consumer expenditure pointed to a deteriorating economy. Due to the decision, the Australian currency gained strength, and futures currently indicate a 36% chance of a rate decrease in June. Read More..

B2B Tech News | 1 years ago        

Jio Financial Services Shares Surge Amid Talks of Potential Paytm Wallet Acquisition

Following rumours that it is in negotiations with Paytm parent firm One 97 Communications to purchase Paytms wallet business potentially, shares of Re

Following rumours that it is in negotiations with Paytm parent firm One 97 Communications to purchase Paytms wallet business potentially, shares of Reliance Industries Jio Financial Services surged up to 14%. Later, Jio Financial clarified that it hasnt been involved in any talks about this. Reportedly, Jio Financial and HDFC Bank are leading candidates to buy Paytms wallet division. Following the Reserve Bank of Indias decision to prohibit Paytm Payments Bank from taking deposits or credits to client accounts, the company is allegedly experiencing an existential crisis. Jio may offer to buy Paytm Payments Bank as part of a rescue package. Read More..

B2B Tech News | 1 years ago        

Jeff Bezos Plans to Sell Up to 50 Million Amazon Shares Over the Next Year

According to a document, Amazon founder Jeff Bezos intends to sell up to 50 million company shares over the upcoming year. The securities are valued a

According to a document, Amazon founder Jeff Bezos intends to sell up to 50 million company shares over the upcoming year. The securities are valued at $8.6 billion at the current share price of $171.8. As per Amazons most recent annual report, the selling plan was accepted on November 8, 2023, subject to particular circumstances. It is anticipated to be completed by January 31, 2025. Bezos, who started Amazon in 1994, became executive chairman after leaving his position as CEO in 2021. With a $185 billion net worth, he is now the third wealthiest individual in the whole globe. Read More..

B2B Tech News | 1 years ago        

Crypto Lender Gemini Seeks Authorization to Monetize Interests in Two Grayscale Ethereum Trusts

Gemini Trust Co., a cryptocurrency exchange, has revealed that Genesis, a crypto lender, has filed a move in the United States Bankruptcy Court reques

Gemini Trust Co., a cryptocurrency exchange, has revealed that Genesis, a crypto lender, has filed a move in the United States Bankruptcy Court requesting permission to sell trust assets and profit from its stakes in two Grayscale Ethereum trusts. Genesis filed the request on Friday, allowing Gemini to sell the initial collateral, which consists of 30,905,782 Grayscale Bitcoin Trust shares. Genesis has asked for the motions February 8 hearing to be expedited. This coincides with Genesis settlement of a lawsuit brought by the US Securities and Exchange Commission on its nowcancelled Gemini Earn financing programme, which was put on hold following the November 2023 cryptocurrency market meltdown. Read More..

B2B Tech News | 1 years ago        

India Targets $1.7 Billion GST Collection from Online Gambling Companies

Revenue Secretary Sanjay Malhotra said India expects to levy online gambling enterprises for Goods and Services tax GST worth up to 140 billion rupees

Revenue Secretary Sanjay Malhotra said India expects to levy online gambling enterprises for Goods and Services tax GST worth up to 140 billion rupees $1.7 billion in the upcoming fiscal year. A $1.5 billion business was impacted in October when the government levied a 28% tax on money collected by online gambling operators for each wager. In the fiscal year that ended on March 31, the move brought in almost 75 billion rupees, as opposed to 16 billion the year before. Malhotra stated that the market has stabilised and that, without necessarily altering tax rates, a review of the tax structure for online gambling companies will be carried out by April. Read More..

B2B Tech News | 1 years ago        



Get The News to use newsletter to
stay on top of shifting Technology News Updates!!

...

Get Latest News To Your Inbox, Subscribe To Our Newsletter.


By signing up, you agree to our Privacy Notice and European users agree to the data transfer policy.



Take a break, Play Suduko!



Refresh Your Facts

1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
   13785   

2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
   11196   

3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
   11506   

4.  Since the launch of the popular mobile game, Candy Crush, in 2012, players have spent a total of 73 billion hours (equivalent to 8.3 million years) playing this game.
   11353   

5.  Approximately 8 billion gadgets connect on the internet every day.
   14400   



Sharpen your mind and memory!

Play Mind Game



Your Opinion Matters, Vote Now!!

Where do you go to learn more about whats happening in your industry? Check all that apply.