-- Chongqing Rural Commercial Bank's (SHA:601077) attributable profit rose 5.1% to 3.93 billion yuan in the first quarter from 3.74 billion yuan in the year-ago period, according to a Wednesday filing with the Shanghai bourse.
Earnings per share at the bank increased 6.1% to 0.35 yuan from 0.33 yuan in the prior-year period.
Operating revenue grew 8.4% year over year to 7.83 billion yuan from 7.22 billion yuan.
StarHub (SGX:CC3) named Matt Rhys Williams as deputy chief executive officer, effective May 1, according to a Wednesday filing with the Singapore Exchange.Williams will concurrently continue in his role as chief of the consumer business group, the filing stated.
Crude oil prices remain on an upward trajectory as the Strait of Hormuz has not yet been opened despite a halt in hostilities, as the situation has worsened due to the U.S. naval blockade against Iran, Commerzbank said in a Tuesday note.Talks between the U.S. and Iran have also come at a standstill, with a new offer from Iran to open the strait unlikely to be considered acceptable by the U.S., the bank noted. Iran is demanding an end to the blockade and the postponement of talks on the nuclear program.Concerns are also growing about a prolonged supply shortage in the oil market. This is also evident in the widening of time spreads, or the price differences between the various contract maturities along with Brent futures curve, according to Commerzbank.The spread between the nearest-month and the next-month Brent futures contracts is once again just under US$7, while the spread between the nearest-month and the seven-month contract is more than $20. These are the highest price premiums for oil available for immediate delivery in three weeks, the bank said.