Operating profits at Singapore Airlines (SIA) for the October-December quarter doubled to $288 million, on the back of sterling performance by the parent carrier as well as subsidiaries SilkAir and Scoot. Net profit for the quarter jumped 35.5 per cent year-on-year to $275 million.
The US dollar plunged on Wednesday (Feb 3) by the most since the Federal Reserve announced the start of its Treasury bond-buying programme seven years ago, as signs of a slowing US economy helped derail bets on diverging policies between global central banks.
The business community here said they welcomed the signing of the Trans-Pacific Partnership, and called for it to be ratified as soon as possible. Until that happens, the full benefits of the deal will not be unlocked, they noted.
GLP, a global provider of modern logistics facilities, reported a 64 per cent increase in profit after tax and minority interests (PATMI) to US$184 million (S$260.5 million) for the quarter ended Dec 31, from US$112 million a year ago, on the back of higher earnings in China, development gains in Japan and its entry into the US market.
CapitaLand's wholly owned serviced residence unit, The Ascott, has clinched seven new management contracts, adding over 1,500 apartment units to its portfolio. It has expanded in Bangkok in Thailand, Hanoi in Vietnam, and Petaling Jaya in Malaysia, while venturing for the first time into Bandung in Indonesia, Penang and Shah Alam in Malaysia, and Nha Trang in Vietnam.
Capitaland Retail China Trust (CRCT) reported on Thursday (Feb 4) a 4.4 per cent rise in distribution per unit (DPU) to 2.59 Singapore cents for its fourth quarter ended Dec 31, 2015 from 2.48 cents for the year-ago quarter.
Bank of Japan governor Haruhiko Kuroda said the central bank was not engaging in a currency war by adopting negative interest rates, stressing that the move was aimed at stimulating the economy through lower borrowing costs.
Shares of Sharp surged after Japanese broadcaster NHK reported it planned to give preference to a rescue plan from Taiwan's Foxconn Technology Group. Sharp said there is no truth to the report that it's decided on such a restructuring.