Category: Business

SK Hynix (000660.KS) forecast steady demand for memory chips on Tuesday as it posted its highest quarterly operating profit in nearly three years on the back of rising prices, striking a more bullish note than rivals including Micron (MU.O). SK Hynix and other other chipmakers have been hit by slowing personal computer sales after a […]

New Zealand’s central bank said on Tuesday that it plans to reduce its exposure to bonds from countries like Australia that have a higher carbon footprint, as it outlined action to manage the economic risks associated with climate change. The Reserve Bank of New Zealand’s (RBNZ) carbon footprint in its balance-sheet is above a simple […]

A Seoul court fined Samsung Electronics Co Ltd (005930.KS) Vice Chairman Jay Y. Lee 70 million won ($59,461.62) plus a fee for unlawful use of a controlled substance, Yonhap reported on Tuesday. Seoul Central District Court fined Lee for being administered propofol, a sedative used in anaesthesia, multiple times between 2015-2020, Yonhap said. Under South […]

Asset manager BlackRock (BLK.N) said on Tuesday it had created the largest range of climate-aligned exchange-traded equity funds (EFT) after agreeing to tighter rules to govern six existing funds with $9 billion in assets. Following consultations with BlackRock, the MSCI indexes that underpin BlackRock’s iShares ESG Enhanced UCITS ETF range will follow the European Union’s […]

KPN NV (KPN.AS), the largest Dutch telecommunications company, reported on Tuesday third-quarter core earnings in line with expectations and repeated its full-year financial forecasts. Adjusted earnings before interest, taxes, depreciation, amortization and leases (EBITDAL) came in at 607 million euros ($706 million) for the three months ended Sept. 30, compared with 598 million euros a […]

Indonesia expects rising exports and a recovery in household consumption to result in economic growth of 4.5% in the third quarter, refining an earlier forecast for 4-5% growth, but headwinds lie ahead, its finance minister warned on Monday. Third quarter data is due to be released on Nov.5. Referring to the new third quarter forecast […]

French telecoms operator Orange’s (ORAN.PA) quarterly profit was hit by lower returns from co-financing deals to deploy networks, it said on Tuesday. Like other European operators, the state-controlled former monopoly struggles to maintain strong upward momentum in earnings, caught between the need to upgrade networks while contending with fierce competition in France and Spain, its […]