Posts by Kim Browne
Vietnam approves establishment of Sun PhuQuoc Airways
Published Wed, May 21, 2025 · 10:37 AM [HANOI] Vietnam’s Prime Minister, Pham Minh Chinh, has approved the establishment of a new airline, Sun PhuQuoc Airways, the official Vietnam News Agency (VNA) reported on Tuesday (May 20). A spokesperson for the company confirmed the approval in an e-mail to Reuters on Wednesday, without giving further…
Read MoreTemasek’s SeaTown to invest up to S$115 million in AddVita
[SINGAPORE] SeaTown Holdings, an investment manager indirectly owned by Temasek, said on Wednesday (May 21) it is committing up to S$115 million in Singapore healthcare and life sciences firm AddVita. Offering medical and laboratory technologies, AddVita sells pharmaceutical products as well, to hospitals, clinics, pharmacies and healthcare providers throughout Asia, particularly South-east Asia. It also…
Read MoreWhatsApp had no plans to vie with Facebook, co-founder says
[DENVER] WhatsApp co-founder Brian Acton said that his messaging company had no plans to build social networking features to compete with Facebook before he sold the company to Mark Zuckerberg, a claim that bolsters Meta’s defence as it faces federal antitrust allegations. “We had no ambition to build Facebook-like functionality like a feed or any…
Read MoreSingPost names Teo Swee Lian as chairman-designate; Simon Israel to retire after 9 years at helm
She will assume the role at the conclusion of the postal services provider’s next annual general meeting [SINGAPORE] Singapore Post (SingPost) has appointed Teo Swee Lian, 65, to the board as chairman-designate and non-independent non-executive director with effect from Wednesday (May 21). She will also be appointed as an additional member of the finance and…
Read MoreMonetary Authority of Singapore MD says US$ assets irreplaceable
Factors that the market are paying attention to include any prospect for slower growth and higher inflation in America as well as cues on its fiscal trajectory and policies that could reinforce that confidence Published Wed, May 21, 2025 · 09:08 AM [DOHA] US dollar-based assets have “enduring advantages” and remain virtually irreplaceable in the…
Read MoreCapitaLand Investment launches 5 billion yuan China fund
[SINGAPORE] CapitaLand Investment (CLI) on Wednesday (May 21) announced the launch of its first onshore master fund in China, the CLI RMB Master Fund, with a total equity commitment of five billion yuan (S$921 million). The company has also secured a domestic insurance company to take up a majority stake in the master fund, which…
Read MoreStocks to watch: CapitaLand Investment, CDL, SingPost, SIA Engineering, Delfi, SLB, Dasin Retail Trust
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (May 21). CapitaLand Investment (CLI): The global real asset manager on Wednesday announced the launch of its first onshore master fund in China, the CLI RMB Master Fund. The fund has a total equity commitment of five billion yuan…
Read MoreUS sets the stage for duties on battery materials from China
Published Wed, May 21, 2025 · 08:09 AM [NEW YORK] The US Commerce Department set the stage for anti-subsidy duties on imports of key battery components from China, after concluding materials had been unfairly subsidised. The agency’s preliminary determination is an early milestone in a trade case looking at supplies of active anode material, which…
Read MoreMaybank Securities positive on MAS equities review given niche in mid-cap players: CEO Aditya Laroia
[SINGAPORE] The Singapore government’s attempt to revive its local stock market is a much-needed move to boost Singapore’s financial hub status, and is already showing early signs of positive change, said Aditya Laroia, Singapore chief executive at Maybank Securities. The review – which focuses on small to mid-cap companies in the city-state – will support…
Read MoreChanel profit tumbles as luxury industry downturn hits sales
[PARIS] Chanel profit plunged last year as the closely held company splurged on expanding its retail network and marketing to remain visible amid a luxury industry downturn. Operating profit slid 30 per cent to US$4.48 billion as revenue fell 4.3 per cent on a comparable basis, it said on Tuesday (May 20). The region that…
Read MoreEurope: Shares close near nine-week high, powered by utility, telecom stocks
[BENGALURU] European stocks closed at near nine-week highs on Tuesday (May 20) with utilities and telecom firms leading gains, while some positive corporate earnings also bolstered sentiment. The pan-European Stoxx 600 index ended 0.7 per cent higher after notching an eight-week high. Most regional bourses also ended up, with ones in Germany and Ireland touching…
Read MoreMusk will reduce political spending, committed to being Tesla CEO in 5 years’ time
[DOHA] Elon Musk said he plans to significantly cut political spending and is committed to staying on as Tesla’s CEO for another five years, aiming to address concerns about balancing his role at the automaker with his involvement in the Trump administration. Musk’s comments could have large implications for next year’s mid-term elections as he…
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