An Airbus A350-941 from Singapore Airlines is preparing to take off on the runway at Barcelona-El Prat Airport in Barcelona, Spain, on May 1, 2024.
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on Thursday reported an 82% plunge in second-quarter earnings, which widely missed estimates, weighed down by losses from its stake in Air India and lower interest income.
Here’s how the carrier performed in the three months ended September compared with LSEG SmartEstimates, which are weighted toward forecasts from analysts who are more consistently accurate:
Net profit: 52 million Singapore dollars vs. 181.47 million Singapore dollars expected
Net profit of the city-state’s flag carrier also fell to 239 million Singapore dollars in the first half of the fiscal year, down 67.8% from a year earlier, according to the company’s earnings report.
Income from interest in the second quarter fell 42 million Singapore dollars due to lower cash balances and interest rate cuts, while its associated companies, including Air India, recorded a loss of 295 million Singapore dollars in the same period.
Singapore Airlines holds a 25.1% stake in Air India following its November 2024 merger with Vistara, co-owned with India’s Tata Sons. SIA began equity accounting for the airline from December 2024.
“Despite the ongoing challenges, the SIA Group remains committed to working with its partner Tata Sons to support Air India’s comprehensive multi-year transformation programme,” Singapore Airlines said in a statement after the earnings release.
Air India was also a drag on the group’s results in the last quarter and was reportedly seeking at least 100 billion rupees ($1.1 billion) in financial aid from Singapore Airlines and Tata Sons after a June crash that killed more than 240 passengers, according to Bloomberg.
Any financial support, which would be used to overhaul Air India’s systems and services, develop in-house engineering and maintenance departments, would be proportional to ownership, Bloomberg reported, citing people familiar with the matter.
Separately, Singapore Airlines has been expanding its commercial partnerships. The carrier launched new codeshare services with Vietnam Airlines in September, expanding connectivity across both networks and deepening its foothold in fast-growing Southeast Asian routes.
In October, it deepened its joint venture with the Lufthansa Group by adding Brussels Airlines, improving routes between Europe and the Asia-Pacific region.
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Air Liquide announced the successful start-up of the world’s first industrial-scale ammonia cracking pilot unit with a 30 tons per day ammonia to hydrogen conversion capacity at the Port of Antwerp-Bruges, Belgium. This groundbreaking innovation demonstrates a key missing technology brick to a viable pathway for converting ammonia into hydrogen, and unlocks challenges of transportation of hydrogen. This technology proven at the industrial scale for the development of world scale ammonia cracking plants enables access to low-carbon and renewable hydrogen for the decarbonisation of industry and mobility.
The ability to efficiently transport hydrogen over long distances is a persistent challenge in developing a robust global hydrogen economy. Ammonia (NH3), formed by hydrogen and nitrogen molecules, emerges as a valuable hydrogen carrier. It can be cost-effectively produced in regions rich in renewable energy sources, such as solar, hydro, and wind or other low-carbon power. A well-established global infrastructure already exists for the large-scale production, transportation, and utilisation of ammonia. This allows for the export of ammonia from energy-abundant regions to end-users worldwide, where it can then be “cracked” back into hydrogen, providing a crucial component for decarbonising industry and mobility.
Work will begin next year, with the aim of generating power by the mid 2030s
A first-of-its-kind nuclear power station is to be built on Anglesey, bringing up to 3,000 jobs and billions of pounds of investment.
The plant at Wylfa, on the Welsh island’s northern coast, will have the UK’s first three small modular reactors (SMR), although the site could potentially hold up to eight.
Work is due to start next year with the aim of generating power by the mid 2030s.
Prime Minister Sir Keir Starmer said that Britain was once a world leader in nuclear power but “years of neglect and inertia has meant places like Anglesey have been let down and left behind. Today, that changes.”
The news was also welcomed by First Minister Eluned Morgan, who said she had been “pressing the case at every opportunity for Wylfa’s incredible benefits”.
Using the Welsh name for Anglesey, she described it as “the moment Ynys Môn and the whole of Wales has been waiting for”.
The project, which could power about three million homes, will be built by publicly owned Great British Energy-Nuclear and is backed by a £2.5bn investment from the UK government.
SMRs work similarly to large reactors, using a nuclear reaction to generate heat that produces electricity – but are a fraction of the size, with about a third of the generating output.
Ed Milliband, Secretary of State for Energy and Climate Change, called the announcement “exciting” and said Britain is in the race for new reactors.
Simon Bowen, chair of Great British Energy-Nuclear, called the announcement an “historic moment for the UK”.
“These first SMRs at Wylfa will lay the groundwork for a fleet-based approach to nuclear development, strengthening the UK’s energy independence and bringing long-term investment to the local economy.”
Anglesey councillor Gary Pritchard said it was an “important step forward for new nuclear build on Ynys Môn”.
“If, as we hope, these plans come to fruition – it will mean economic certainty and prosperity for decades to come.”
Llinos Medi, the MP for Ynys Môn, said it was an “significant step” and a “game-changer” for the area “but only if local people see real and lasting benefits”.
Mims Davies MP, the Shadow Secretary of State for Wales, said there is no doubt the decision will bring much-needed jobs and investment but “the current plan will only generate a fraction of the power that a Gigawatt-powered plant would”.
The company has also been tasked with identifying potential sites for another large-scale nuclear power plant, similar to those being built at Hinkley Point in Somerset and Sizewell in Suffolk, which have the potential to power the equivalent of six million homes.
It will report back by autumn 2026, and has been requested by Energy Secretary Ed Miliband to consider sites across the UK, including in Scotland, officials said.
It is not clear whether the SMR plans, which are smaller and more straightforward to build, rule Wylfa out from being considered after it was designated the preferred location in 2024 by the previous UK Conservative government.
The decision to opt for small modular reactors at Wylfa was criticised by the US ambassador Warren Stephens, who said he was “extremely disappointed” by the decision.
He had been urging ministers to commit to a large-scale plant, with US firm Westinghouse having reportedly presented plans to build a new gigawatt station at the site.
“If you want to get shovels in the ground as soon as possible and take a big step in addressing energy prices and availability, there is a different path, and we look forward to decisions soon on large-scale nuclear projects,” Mr Stephens said.
‘Nuclear equivalent of an Ikea chair’
One industry expert described the announcement as “incredible”.
Prof Simon Middleburgh, director of the Nuclear Futures Institute at Bangor University, said: “They’re smaller than the average reactor, built in a modular manner in factories and shipped to the site to be put together a bit like an Ikea chair.”
The planned SMRs “fit nicely” with the existing grid capacity at the Wylfa site, offering a similar electricity output as the old power plant currently being decommissioned, he added.
There were “a few more hurdles to go through”, he cautioned – from securing regulatory approval, building the factories required to construct the SMRs and training the workforce that will run them.
Opponents of the project point to the fact that a long-term storage facility for the UK’s nuclear waste is yet to be agreed upon and say investment in renewable energy schemes – wind, wave and tidal – is what Anglesey needs.
Dylan Morgan of campaign group People Against Wylfa-B told BBC Wales the proposed SMRs were far from “small” and were in fact “an unnecessarily big development of an unproven technology”.
“Modular reactor technologies have been touted by many companies internationally but are still only plans on paper,” he said.
The government sees them as a secure, reliable, affordable and low carbon energy system and is convinced that, with investment, SMRs will create thousands of jobs and boost manufacturing.
Wylfa beat off competition from another site at Oldbury in Gloucestershire, with the reactors designed by British engineering firm Rolls-Royce, subject to final contracts, which are expected later this year.
The UK government said the plant would help provide energy independence.
The old nuclear power plant at Wylfa was switched off in 2015 and previous plans for a large-scale replacement fell through in 2021.
The company behind the scheme – the Japanese industrial giant Hitachi – cited spiralling costs and a failure to reach agreement with the UK government over funding.
There is a huge political component to the announcement, with Labour’s leadership in Westminster keen to show that it means business when it comes to big investment in infrastructure projects
In Wales, the first minister has been pushing hard for Wylfa – and the announcement comes just six months before the Senedd election.
Eluned Morgan has been trying to strike a balance: differentiating the Welsh party from UK Labour, but also pushing for extra funding, further devolution of powers and big investment announcements from her UK colleagues.
She has certainly got the latter, although plenty of other issues such as reform to the way Wales is funded and devolution of the Crown Estate – the body which owns much of the Welsh coastline and vital to future wind power – remain unresolved.
Abdul Latif Jameel Finance named “The Leading Non-Bank Financial Institution for MSME Funding in 2024” for the second consecutive year.
It was also awarded “The Highest Growing Non-Bank Financial Institution for MSME Funding in 2024”.
Recognition reflects Abdul Latif Jameel Finance’s commitment to empowering entrepreneurs and supporting Saudi Vision 2030’s goals of economic diversification and sustainable growth.
Abdul Latif Jameel Finance, a leader in innovative financing solutions and services that is regulated by the Saudi Central Bank (SAMA), has been honored with two awards at the Biban Forum 2025, held in Riyadh.
Presented by the General Authority for Small and Medium Enterprises (Monsha’at), Abdul Latif Jameel Finance was recognized as both the “The Leading Non-Bank Financial Institution for MSME Funding in 2024” for the second year in a row, and the “The Highest Growing Non-Bank Financial Institution for MSME Funding in 2024”.
The awards highlight Abdul Latif Jameel Finance’s leadership in advancing access to finance for micro, small, and medium enterprises across Saudi Arabia, and its ongoing contribution to driving entrepreneurship, financial inclusion, and sustainable economic development in line with Saudi Vision 2030.
Dr. Khalid Alsharif, CEO of Abdul Latif Jameel Finance, said: “We are deeply honored to receive two awards from Monsha’at recognizing our leadership and growth in MSME financing. This achievement reflects our unwavering commitment to empowering entrepreneurs, supporting business sustainability, and contributing to the Kingdom’s Vision 2030 objectives. We remain dedicated to developing innovative, responsible financial solutions that help Saudi businesses grow and thrive.”
To date, Abdul Latif Jameel Finance has funded more than 294,000 MSMEs, extending over SAR 4.2 billion in financing across key sectors including technology, tourism, entertainment, crafts, and production.
As a trusted partner in Saudi Arabia’s entrepreneurial ecosystem, Abdul Latif Jameel Finance continues to innovate tailored financing solutions that enable business growth, promote financial inclusion, and support the Kingdom’s ongoing economic transformation.
