Header-template

BUSINESS NEWS

OCBC Reports 4% Rise in Q4 Profit, Below Expectations Shares Drop

Despite reporting a lowerthanexpected 4% increase in Q4 net profit to S$1.69 billion, OCBC, Singapores secondlargest bank, announced a S$2.5 billion $

Despite reporting a lowerthanexpected 4% increase in Q4 net profit to S$1.69 billion, OCBC, Singapores secondlargest bank, announced a S$2.5 billion $1.87 billion capital return. The bank anticipates Southeast Asia will continue to be resilient while warning of an uncertain global environment brought on by U.S. trade tariffs. OCBC predicts a net interest margin drop to about 2% from 2.2% and midsingledigit loan growth in 2025, down from 8% in 2024. Special dividends and share buybacks spread over two years are included in its capital return. On the announcement, OCBC shares fell as much as 2.8%, in contrast to peers DBS and UOB, who reported better profits. Read More..

B2B Tech News | 22 days ago        

Tata Capital Plans IPO by September, Marking Tata Group’s Latest Market Entry

In an initial public offering IPO, Tata Capital, the financial services division of the $165 billion Tata Group, will issue 230 million new shares whi

In an initial public offering IPO, Tata Capital, the financial services division of the $165 billion Tata Group, will issue 230 million new shares while allowing current shareholders to sell their holdings. By September 2024, "upper layer" nonbanking financial enterprises must be listed, as required by the Indian Central Bank. Given that Tata Technologies went public in November 2023, this will be the first IPO of the Tata Group. In March 2024, Tata Sons owned 92.8% of Tata Capital, which was founded in 2007 and provides a range of lending products. The corporation has also approved a rights offer of ₹15.04 billion $173 million. Additional IPO information has not yet been made public. Read More..

B2B Tech News | 22 days ago        

G20 Finance Talks in South Africa Hit by Key Absences, Climate Finance Disputes

Key absences and disagreements on debt, inequality, and climate funding cloud discussions when G20 finance ministers and central bankers gather in Sou

Key absences and disagreements on debt, inequality, and climate funding cloud discussions when G20 finance ministers and central bankers gather in South Africa. U.S. Treasury Secretary Scott Bessent, EU Commissioner Valdis Dombrovskis, and Japans Finance Minister Katsunobu Kato will not attend the meeting. Although progress appears improbable, the host country, South Africa, wants to advocate for more climate financing and financial reforms to help poorer nations. According to some, the G20s power is weakened, but others see an opening for new partnerships. Although differences could impede the shift to renewable energy, South African President Cyril Ramaphosa emphasises the need for wealthier countries to address climate change. Read More..

B2B Tech News | 22 days ago        

Japan Post to Sell $4B in Japan Post Bank Shares, Reducing Stake Below 50%

Japan Post Holdings intends to sell around 600 billion yen $4.02 billion worth of Japan Post Bank shares to lower its ownership below 50%. This action

Japan Post Holdings intends to sell around 600 billion yen $4.02 billion worth of Japan Post Bank shares to lower its ownership below 50%. This action will reduce constraints intended to safeguard private companies, giving Japan Post Bank greater business freedom. Japans corporate governance reforms, which examine "parentchild" listings and advocate for more excellent freefloat share ratios, align with the sale. With a share buyback also planned by Japan Post Bank, the decision may be decided this week. Japan Post has already decreased its stake in Japan Post Insurance to 49.8%, lowering its stake from 61.5% in 2023. Because of the higher interest rates, the bank reported a 17% increase in earnings to 308 billion yen. Read More..

B2B Tech News | 22 days ago        

Bain Capital Offers £1.1 Billion to Acquire UK Defence Firm Chemring

The shares of Londonlisted defence contractor Chemring Group saw a 16% increase after U.S. private equity firm Bain Capital proposed £1.1 billion $1.

The shares of Londonlisted defence contractor Chemring Group saw a 16% increase after U.S. private equity firm Bain Capital proposed £1.1 billion $1.39 to buy the company. Shares increased 13.7% to 407 pence at the offer of 390 pence per share, which is almost 9% more than the closing price on Friday. It is unknown whether Bains second offer was presented to Chemrings board, but Sky News reported that he had also prepared one. Neither Bain nor Chemring would comment. Among other defence goods, Chemring specialises in naval antiship missile defence systems. As concerns about global security deepen, the proposal underscores growing investor interest in the defence industry. Read More..

B2B Tech News | 22 days ago        

DFSA Recognizes USDC and EURC as Crypto Tokens, Expanding Dubai’s Digital Economy

USDC and EURC are now accepted as cryptocurrency tokens by Dubais Financial Services Authority DFSA, enabling businesses in the DIFC to use them for d

USDC and EURC are now accepted as cryptocurrency tokens by Dubais Financial Services Authority DFSA, enabling businesses in the DIFC to use them for digital asset services, treasury management, and payments. The approval allows for speedier crossborder transactions and smooth fiattocrypto conversions, avoiding traditional costs, for the more than 6,900 businesses in the DIFC. Calling it a stablecoin milestone, Circles Chief Strategy Officer Dante Disparte emphasised the transparency and compliance of USDC and EURC. Stablecoins are joining the list of cryptocurrencies that Dubai already recognises, along with Bitcoin, Ethereum, Litecoin, Toncoin, and Ripple. With Binance and Sony incorporating stablecoins into their Web3 operations, Circle, the secondlargest stablecoin issuer after Tether, has handled $18 trillion in USDC transactions since 2018. Read More..

B2B Tech News | 22 days ago        

S&P India, South Korea, Thailand Most at Risk from Potential Trump Tariffs

India, South Korea, and Thailand are the AsiaPacific economies most vulnerable to possible tariff hikes under US President Donald Trumps administratio

India, South Korea, and Thailand are the AsiaPacific economies most vulnerable to possible tariff hikes under US President Donald Trumps administration, according to S&P Global Ratings. According to the study, these countries have more significant weighted average tariffs on U.S. goods than the U.S. imposes on imports from these countries. As such, they are more vulnerable to retaliatory tariffs the United States imposes. Thailand, South Korea, Taiwan, and Vietnam may be most affected economically because of their high trade exposure to the U.S. market. India and Japan, on the other hand, have more domestically focused economies, which would provide some protection against these tariff effects. Read More..

B2B Tech News | 22 days ago        

Intuit’s AIDriven Tax and Finance Tools Fuel HigherThanExpected Q3 Forecast

TurboTaxs creator, Intuit, predicted higherthanexpected revenue for the third quarter due to robust demand for its artificial intelligence AIpowered f

TurboTaxs creator, Intuit, predicted higherthanexpected revenue for the third quarter due to robust demand for its artificial intelligence AIpowered financial software. Sales have increased due to the ongoing tax season in the United States, and CFO Sandeep Aujla is optimistic about the year. By automating financial management, Intuits AI assistant, Intuit Assist, is incorporated into its products, including TurboTax, Credit Karma, and QuickBooks. The business exceeded forecasts of $3.83 billion in revenue for the second quarter, reporting $3.96 billion. Its predicted earnings per share of $10.89–$10.95 was less than the forecasted $11.48, even though its Q3 revenue prediction of $7.55–$7.60 billion surpassed analysts forecasts. Despite last years layoffs, Intuit swiftly rehired and reiterated its fiscal 2025 outlook. Read More..

B2B Tech News | 22 days 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.
   4726   

2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
   3244   

3.  Artificial Intelligence is expected to contribute $15.7 trillion to the economy by the year 2030.
   3581   

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.
   3762   

5.  Approximately 8 billion gadgets connect on the internet every day.
   4774   



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.