<div class=newsTextDataWrapInner><p>SINGAPORE (March 1): Yongnam Holdings sank into the red in 2014, hurt by a slow start in new projects and provisions in anticipation of lower variation orders for certain jobs.</p></div>

<div class=newsTextDataWrapInner><p>The steel fabrication firm incurred a net loss of $8.5 million, reversing a profit of $5.5 million for the previous year.</p></div>

<div class=newsTextDataWrapInner><p>Revenue fell 41.4% to $212 million as it had completed its major projects, including the Marina Coastal Expressway, by the end of 2013.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Our latest set of financial results was impacted by the unforeseen slow starts in some of the group’s projects, as well as a tapering off of some of our existing projects resulting in lower level of fabrication and erection activities to absorb the group’s fixed production and overhead costs," Yongnam CEO Seow Soon Yong said in a statement.</p></div>

<div class=newsTextDataWrapInner><p>The company secured $277.3 million worth of contracts in 2014 and said it was "in active pursuit" of $1.1 billion worth of new infrastructure and commercial projects in Singapore, Hong Kong, Malaysia and the Middle East.</p></div>

<div class=newsTextDataWrapInner><p>Its order book at the end of last year was $405 million.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


SINGAPORE (March 1): Yongnam Holdings sank into the red in 2014, hurt by a slow start in new projects and provisions in anticipation of lower variation orders for certain jobs.

The steel fabrication firm incurred a net loss of $8.5 million, reversing a profit of $5.5 million for the pre...

Yongnam ends 2014 with $8.5 million loss, eyes $1.1 billion of new projects

Meta Platforms META.O beat Wall Street expectations for fourth-quarter revenue on Wednesday but predicted sales in the current first quarter may not meet forecasts, sending mixed signals about how its bets on pricey artificial intelligence-powered tools are paying off.

The Facebook and Instagram parent company expects first quarter revenue between $39.5 billion and $41.8 billion, compared with analysts' average estimate of $41.72 billion, according to data compiled by LSEG.

Meta sends mixed signals as quarterly sales beat estimates but outlook muted

Microsoft on Wednesday forecast disappointing growth in its cloud computing business, sending its shares down more than 5% as investors worry about big spending, elusive artificial intelligence revenue and growing competition from cheaper AI models from China.

Microsoft shares slide as cloud forecast, AI spending disappoint

Stocks slipped and short-dated bond yields rose, though both pared bigger moves as early concern that the Federal Reserve was growing more worried about inflation got tamped down by Chair Jerome Powell.

In late hours, a $328 billion exchange-traded fund tracking the Nasdaq 100 (QQQ) whipsawed.

Stocks fall on Fed day as tech mixed in late hours

The Bank of Japan made a significant step toward shrinking its massive balance sheet last week, while market watchers were fixated on the biggest interest rate increase from the central bank in 18 years. 

The BOJ decided on Friday to offer no new lending from July under its fund-provisioning program to stimulate bank lending.

BOJ to slice almost $500 billion off balance sheet with QT move

Federal Reserve Chair Jerome Powell made clear on Wednesday the US central bank intends to hold interest rates where they are for the foreseeable future, pointing to a number of reasons why he and his colleagues expect to take their time before lowering borrowing costs again.

Chief among them: the wide uncertainty over how President Donald Trump’s policies — in areas such as immigration, tariffs, fiscal policy and regulation — could upend their expectations for the economy.

Powell signals Fed on hold as Trump’s economic policies take shape

Asian stocks fluctuated on Thursday after the Federal Reserve held rates unchanged, with Chair Jerome Powell saying officials were not in a hurry to lower borrowing costs. 

Shares in Japan opened slightly lower, weighing down a gauge of Asian equities despite a small gain for shares in Australia.

Asia stocks stall after Fed meeting, tech earnings

BRUSSELS (Jan 29): The European Commission presented on Wednesday its plans to reverse industrial decline in the bloc, and step up efforts to compete with the United States and China in new fields such as artificial intelligence (AI), to lower energy costs, and to cut red tape.

EU points way to competitive future to catch US, China rivals

(Jan 29): Thailand expects to complete its first high-speed rail network linking the country to China through Laos in 2030, a long-delayed project officials have touted as key to furthering bilateral relations and trade between the two nations.

Thai high-speed rail linking Bangkok to China eyes 2030 opening

WASHINGTON (Jan 29): The US trade deficit in goods widened to a record high in December, likely as businesses front-loaded imports of industrial supplies and consumer goods, in anticipation of broad tariffs from President Donald Trump's new administration.

Record US goods trade deficit seen cutting into fourth-quarter GDP growth

MILAN/ROME/DUBLIN/BERLIN (Jan 29): The Chinese artificial intelligence (AI) app DeepSeek could not be accessed on Wednesday in Apple and Google app stores in Italy, the day after the country's data protection authority requested information on its use of personal data.

DeepSeek blocked on Apple and Google app stores in Italy

<p>MILAN/ROME/DUBLIN/BERLIN (Jan 29): The Chinese artificial intelligence (AI) app DeepSeek could not be accessed on Wednesday in Apple and Google app stores in Italy, the day after the country's data protection authority requested information on its use of personal data.</p>


<p>(Jan 29): Thailand expects to complete its first high-speed rail network linking the country to China through Laos in 2030, a long-delayed project officials have touted as key to furthering bilateral relations and trade between the two nations.</p>


<p>NEW YORK/BENGALURU (Jan 29): The S&amp;P 500 and the Nasdaq slipped on Wednesday, as losses in tech heavyweights Apple and Nvidia pressured broader gains and as cautious investors braced for the US&nbsp;Federal Reserve's interest-rate decision, expected later in the day.</p>


Tech majors drag on S&P 500, Nasdaq as Fed's rate verdict looms

<p>WASHINGTON (Jan 29): The US&nbsp;trade deficit in goods widened to a record high in December, likely as businesses front-loaded imports of industrial supplies and consumer goods, in anticipation of broad tariffs from President Donald Trump's new administration.</p>


<p>BRUSSELS (Jan 29): The European Commission presented on Wednesday its plans to reverse industrial decline in the bloc, and step up efforts to compete with the United States and China in new fields such as artificial intelligence (AI), to lower energy costs, and to cut red tape.</p>


<p>Asian stocks fluctuated on Thursday after the Federal Reserve held rates unchanged, with Chair Jerome Powell&nbsp;saying&nbsp;officials were not in a hurry to lower borrowing costs.&nbsp;</p>

<p>Shares in Japan opened slightly lower, weighing down a gauge of Asian equities despite a small gain for shares in Australia.</p>


<p>KUALA LUMPUR (Jan 29): Global air cargo markets made significant strides last year, with demand rising 11.3% in cargo tonne-kilometres (CTK) compared to 2023, surpassing the record volumes set in 2021, according to the International Air Transport Association (IATA).</p>


IATA: Air cargo demand soars 11.3% in 2024, surpassing 2021 record

<p>The Bank of Japan made a significant step toward shrinking its massive balance sheet last week, while market watchers were fixated on the biggest interest rate increase from the central bank in 18 years.&nbsp;</p>

<p>The BOJ decided on Friday to offer no new lending from July under its fund-provisioning program to stimulate bank lending.</p>


<p>Federal Reserve Chair Jerome Powell made clear on Wednesday the US central bank intends to hold interest rates where they are for the foreseeable future, pointing to a number of reasons why he and his colleagues expect to take their time before lowering borrowing costs again.</p>

<p>Chief among them: the wide uncertainty over how President Donald Trump’s policies — in areas such as immigration, tariffs, fiscal policy and regulation — could upend their expectations for the economy.</p>


<p>Microsoft&nbsp;on Wednesday forecast disappointing growth in its cloud computing business, sending its shares down more than 5% as investors worry about big spending, elusive artificial intelligence revenue and growing competition from cheaper AI models from China.</p>


<p>Stocks slipped and short-dated bond yields rose, though both pared bigger moves as early concern that the Federal Reserve was growing more worried about inflation got tamped down by Chair Jerome Powell.</p>

<p>In late hours, a $328 billion exchange-traded fund tracking the Nasdaq 100 (QQQ) whipsawed.</p>


<p>Meta&nbsp;Platforms&nbsp;META.O&nbsp;beat Wall Street expectations for fourth-quarter revenue on Wednesday but predicted sales in the current first quarter may not meet forecasts, sending mixed signals about how its bets on pricey artificial intelligence-powered tools are paying off.</p>

<p>The Facebook and Instagram parent company expects first quarter revenue between $39.5 billion and $41.8 billion, compared with analysts' average estimate of $41.72 billion, according to data compiled by LSEG.</p>
