PETER SEAH
DBS Group Q3 net profit falls 5% to S$2.81 billion, misses estimates
DBS Group reported a 5% year-on-year decline in third-quarter net profit to S$2.81 billion, missing analyst estimates due to weaker market trading income. The bank also announced dividends and a leadership transition, with Anthony Lim set to become chairman in January 2027.
Singapore Airlines' board to retain final say on further Air India investment
Singapore Airlines’ board will retain the final decision on any further investment in loss-making Air India, chairman Peter Seah told shareholders. He said the board is closely reviewing the investment and would approve additional funding only as circumstances warrant.
Singapore's top banker Piyush Gupta leaves DBS Bank
Piyush Gupta stepped down as DBS Bank's CEO after 15 years, with Tan Su Shan succeeding him as the first female CEO. Under Gupta, DBS achieved significant milestones including being named the World's Best Bank multiple times. DBS saw impressive financial growth and a record performance in 2024 despite some challenges, such as digital disruptions.
Singapore Airlines cooperating with authorities in probing severe flight turbulence incident
Singapore Airlines (SIA) is cooperating with authorities in the investigation into a London to Singapore flight that encountered severe turbulence, leading to the death of one passenger and injuring 30 others. Geoffrey Kitchen, a 73-year-old British passenger, died likely due to a heart attack on the flight. The remaining passengers aboard the Boeing 777-300ER aircraft were examined and treated at the airport.
Singapore Airlines obtains $13 billion rescue package amid coronavirus shock
Many governments worldwide have already stepped in to help airlines amid the virus-induced travel slump, with the United States offering $58 billion in aid. Many carriers have grounded fleets and ordered thousands of workers on unpaid leave to keep afloat.
