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Singapore Airlines first-quarter profit rises 45.6% on higher revenue

Singapore Airlines first-quarter profit rises 45.6% on higher revenue

Singapore Airlines said the outlook for the aviation industry remained challenging, but the carrier would continue to take delivery of more modern aircraft to improve its competitiveness. SINGAPORE: Singapore Airlines Ltd on Thursday reported a 45.6% rise in first-quarter operating profit, with revenue rising as it filled a higher proportion of seats. The carrier, which […]

July 27, 2017 | By | Reply More
Starbucks puts spotlight on China as US growth cools

Starbucks puts spotlight on China as US growth cools

Same-store sales from China, where there are 2,800 stores in 130 cities, were up a robust 7% in the latest quarter. LOS ANGELES: Starbucks Corp’s new chief executive said the world’s biggest coffee chain is making a long-term investment in China, amid worries that growth from its dominant US market is cooling. Kevin Johnson, who […]

July 27, 2017 | By | Reply More
Twitter shares tumble on weaker-than-expected user growth

Twitter shares tumble on weaker-than-expected user growth

The company has been trying to boost revenue through livestreaming deals, but suffered a setback in April when it lost a deal to livestream NFL games this year to Amazon.com Inc. NEW YORK: Twitter Inc shares tumbled in premarket trading on Monday after the social media platform reported weaker-than-expected growth in monthly active users in […]

July 27, 2017 | By | Reply More
Berlin orders recall of 22,000 Porsches over emissions cheating

Berlin orders recall of 22,000 Porsches over emissions cheating

Transport Minister Alexander Dobrindt told reporters that “illegal” software disguising the true level of polluting emissions had been discovered in Porsche’s Cayenne and Macan models, which must now be fixed. BERLIN: Germany on Thursday ordered luxury car brand Porsche to recall 22,000 vehicles across Europe over emissions test cheating amid a widening election-year scandal. Transport […]

July 27, 2017 | By | Reply More
Thailand’s PTTEP takes US$500 million stake in Malaysian LNG project

Thailand’s PTTEP takes US$500 million stake in Malaysian LNG project

It says a joint venture with its parent company – PTT Global LNG Company – has bought a 10% stake in liquefaction plant MLNG Train 9 in Malaysia. BANGKOK: PTTEP, the exploration and production arm of Thailand’s oil and gas giant PTT Group, said on Thursday it had taken a US$500 million (RM2.1 billion) stake […]

July 27, 2017 | By | Reply More
VW to offer to refit 4 million diesel cars

VW to offer to refit 4 million diesel cars

Industry officials and government ministers will meet in Berlin on Aug. 2 to discuss ways to tackle diesel pollution. WOLFSBURG: Volkswagen plans to offer to refit 4 million diesel cars at a meeting with German government officials to discuss ways to avoid diesel bans in major cities, Chief Executive Matthias Mueller said on Thursday. Carmakers […]

July 27, 2017 | By | Reply More
Oil prices hover near eight-week highs on lower US stocks

Oil prices hover near eight-week highs on lower US stocks

Analysts say oil prices may have little room to head higher as recent gains could encourage more output, particularly from US shale producers with low costs. SINGAPORE: Oil prices were sitting just below eight-week highs on Thursday, buoyed by hopes that a steeper-than-expected decline in US crude oil inventories will reduce global oversupply. Brent crude […]

July 27, 2017 | By | Reply More
Hong Kong firm buys City skyscraper for record £1.3billion

Hong Kong firm buys City skyscraper for record £1.3billion

Lee Kum Kee, a food and health products conglomerate, is buying the two 50-percent stakes in the building owned by Canary Wharf Group and Land Securities. LONDON: A Hong Kong firm is buying up a London skyscraper for £1.3 billion (US$1.7 billion), the highest price ever paid for a single building in Britain, the property […]

July 27, 2017 | By | Reply More
Nissan logs profit drop in April-June quarter

Nissan logs profit drop in April-June quarter

Vice-president Joji Tagawa said Nissan was reporting “satisfactory results despite rising raw materials costs, lower industry volumes in the United States and slower than expected growth in China and the Middle East.” TOKYO: Nissan reported a drop in quarterly net profit on Thursday, hit by higher costs and weak sales in key markets, although it […]

July 27, 2017 | By | Reply More
Nazir Razak trades in RM32 million CIMB shares

Nazir Razak trades in RM32 million CIMB shares

CIMB informs Bursa Malaysia that its chairman dealt in five million CIMB shares outside the group’s closed period. KUALA LUMPUR: Nazir Razak, the chairman of CIMB Group Holdings Bhd, has dealt in five million CIMB shares at RM6.3455 each. The transaction was valued at RM31.73 million. Nazir is the brother of Prime Minister Najib Razak. […]

July 27, 2017 | By | Reply More