HONG KONG – Hong Kong magnate Li Ka-shing lost US$1.5 billion (S$2.2 billion) in a day, with the value of his sprawling business empire tumbling …
Grab expects growth to slow while it pursues 2024 profitability
SINGAPORE – Grab Holdings expects slower revenue growth of 45 per cent to 55 per cent in 2023 as the South-east Asian Internet giant adjusts to …
FTX wins bankrupt crypto firm Voyager Digital’s assets
NEW YORK – FTX US, the digital asset exchange founded by billionaire Sam Bankman-Fried, has won the auction for the assets of bankrupt crypto brokerage Voyager Digital. …
Porsche may be worth 33% less than touted IPO price
LONDON – Porsche AG may be worth little more than two-thirds of the value being touted ahead of the luxury car maker’s initial public offering …
Germany nationalises gas giant Uniper to avert winter energy collapse
FRANKFURT – Germany will nationalise Uniper in a historic move to rescue the country’s largest gas importer and avert a collapse of the energy sector …
Ford to spend $1.4 billion more in third quarter because of supply chain problems
NEW YORK – Ford Motor said on Monday (Sept 19) that the costs of parts would be US$1 billion (S$1.41 billion) higher in the third …
US to move $4.9 billion in Afghan central bank assets to Swiss-based trust
WASHINGTON – The United States on Wednesday announced that it would transfer US$3.5 billion (S$4.9 billion) in Afghan central bank assets into a new Swiss-based …
UBS to raise dividend, exceed buyback after deal collapsed
ZURICH – UBS Group plans to raise the dividend for this year by 10 per cent and will probably exceed a target for share buybacks, …
Long Covid costs Australia economy $5 billion a year
SYDNEY – Long Covid is costing the Australian economy the equivalent of A$5.2 billion (S$5 billion) a year in lost output, the Australian Financial Review …
Indonesia can save $98 billion on fuel import bill in 2050 if it sticks to net-zero pledges: Report
SINGAPORE – Indonesia can significantly lower the costs of fuel imports if it sticks to its net-zero pledges that include a comprehensive clean energy transition …
China’s BYD signs land deal to build first electric vehicle plant in Thailand
BANGKOK – Chinese electric carmaker BYD signed a land purchase deal on Thursday with WHA, Thailand’s largest industrial estate developer, to build its first electric vehicle …
China’s BYD signs land deal to build first EV plant in Thailand
BANGKOK – Chinese electric-car maker BYD signed a land purchase deal on Thursday (Sep 8) with WHA, Thailand’s largest industrial-estates developer, to build its first …
Forbes’ 50 richest in S’pore: Inflation, tech stock sell-off hit tycoons’ wealth
SINGAPORE – Surging inflation has not left Singapore’s billionaires unscathed, with their collective wealth dropping by more than 20 per cent this year, a study …
Sembmarine order book expected to grow further this year on bullish sector outlook
SINGAPORE – Marine and offshore engineering group Sembcorp Marine (Sembmarine) expects the size of its order book to grow further this year as the outlook …
Sri Lanka has an IMF deal, now it courts China and India
LONDON/COLOMBO – Sri Lanka’s International Monetary Fund (IMF) bailout plan could be a turning point in its worst economic crisis, but far-from-stable politics and a …
Do S’pore regulators need bigger stick to deter corporate misconduct following Noble Group’s case?
SINGAPORE – The biggest fine on a company in Singapore’s history has ironically led to talk on whether regulators have let the offenders off too …
After Ara divestment, property manager Straits Trading targets growth in new areas
SINGAPORE – Following the sale of its stake in ARA Asset Management (Ara) to ESR Group, shareholders of The Straits Trading Company now have a …
Japan, S. Korea seek to secure chips industry amid US-China rivalry
TOKYO – In the small town of Kikuyo, in Kyushu island’s Kumamoto prefecture, change is coming. The world’s largest semiconductor manufacturer Taiwan Semiconductor Manufacturing Co (TSMC), …
Sri Lanka and IMF reach preliminary agreement for $4b loan
COLOMBO – Crisis-hit Sri Lanka has reached a preliminary agreement with the International Monetary Fund (IMF) for a loan of about US$2.9 billion (S$4 billion), …
Toyota to Invest Up to 730 Billion Yen in Japan/U.S. Battery Production
TOKYO, Aug 31, 2022 – (JCN Newswire via SEAPRWire.com) – Toyota Motor Corporation (Toyota) has decided to invest up to 730 billion yen (approximately $5.6 …