SINGAPORE (THE BUSINESS TIMES) – Two Singapore-based investors of South Korean e-commerce firm Coupang – Singapore Press Holdings (SPH) and the family office of Trafigura’s …
Alibaba, once a fund darling, dumped by some Wall Street titans
NEW YORK (BLOOMBERG) – Alibaba Group Holding, once the most valuable company in China, is turning from a global hedge fund favourite to something less …
Local start-up raises US$10m as it gears up to launch plant-based chicken product
SINGAPORE – Local food tech start-up Next Gen has raised US$10 million (S$13.2 million) in its recent financing round, as it gears up to launch …
New Zealand central bank to consider housing in rate setting in move to cool prices
WELLINGTON (BLOOMBERG) – New Zealand’s government will require the central bank to take account of house prices when it sets interest rates, stepping up efforts …
UOB sees lower credit costs ahead as Q4 profit falls 32% to $688 million
SINGAPORE (REUTERS) – United Overseas Bank reported a 32 per cent fall in quarterly profit as Singapore’s smallest listed bank said its net interest income declined …
DBS launches organic cotton procurement financing programme with Zara owner
SINGAPORE- DBS Bank has partnered Zara owner Inditex to launch a pilot organic cotton procurement financing programme which will disburse payment to over 2,000 farmers …
CapitaLand sinks to $1.67b second-half loss on revaluation of properties, impairments
SINGAPORE (THE BUSINESS TIMES) – CapitaLand has sunk into the red with a net loss of $1.67 billion for the second half ended Dec 31, …
Keppel Corp chairman Lee Boon Yang to retire in April, handing over to Danny Teoh
SINGAPORE – Dr Lee Boon Yang will retire as non-executive chairman and director of Keppel Corp on April 23, after close to 12 years of …
GameStop CFO to step down after Reddit driven stock rally
NEW YORK (REUTERS) – GameStop chief financial officer Jim Bell will step down next month, the video game retailer said on Tuesday (Feb 23), as …
Marriott taps veteran Tony Capuano as new CEO after Arne Sorenson’s death
WASHINGTON (BLOOMBERG) – Marriott International named Tony Capuano as chief executive officer, tapping the veteran development executive to lead the hotel giant’s recovery from the …
Great Eastern Q4 earnings rise 19% to $341.3m on one-off tax impact
SINGAPORE (THE BUSINESS TIMES) – Great Eastern Holdings on Tuesday (Feb 23) reported a 19 per cent increase in net profit to $341.3 million for …
SembMarine 2nd-half loss widens to $390.4m on lower turnover, impairments
SINGAPORE (THE BUSINESS TIMES) – Sembcorp Marine (SembMarine) saw its net loss for the second half widen to $390.4 million, from $130.3 million a year ago. …
Spotify to add 85 new markets with 1 billion people
NEW YORK (BLOOMBERG) – Spotify Technology is introducing its audio service in 85 markets across Asia, Africa and the Caribbean in coming days, expanding the …
WeWork co-founder Adam Neumann nears settlement with SoftBank: Source
BENGALURU (REUTERS) – WeWork co-founder and former chief executive Adam Neumann is nearing a settlement with SoftBank Group that could include a nearly US$500 million …
China returns as top India trade partner even as relations sour
MUMBAI (BLOOMBERG) – China regained its position as India’s top trade partner in 2020, as New Delhi’s reliance on imported machines outweighed its efforts to …
Bitcoin hits new high of $1.3 trillion in market value
Bitcoin’s market value reached US$1 trillion (S$1.32 trillion) for the first time, a surge that’s helping cryptocurrency returns far outstrip the performance of more traditional …
Nets eyes larger footprint in online payments space
The ubiquity of Nets terminals – there are more than 130,000 of them in Singapore today – may find its equivalent in the online sphere, …
Reigniting drivers of growth key to Asean’s economic resilience
SINGAPORE – Pivoting towards the Asian global growth engine is one of the major world transitions of this century with a strong contributor coming from …
More market volatility expected ahead
SINGAPORE – It was another volatile week for US equity markets as fears of potential inflation, stubbornly high US joblessness and an uneven recovery clashed …
Nets eyes larger footprint in online payments space
SINGAPORE – The ubiquity of Nets terminals – there are more than 130,000 of them in Singapore today – may find its equivalent in the …