Business
US: Wall Street indexes open muted ahead of Fed's interest rate verdict
Wall Street’s main indexes opened subdued on Wednesday (Jun 18), ahead of the Federal Reserve’s monetary policy decision, as the…
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Business
Malaysia to build 50% more gas-fired power capacity to meet data centre demand
Malaysia is expected to add 6-8 gigawatts of gas-fired power by 2030 to address growing electricity consumption driven by demand from data…
Business
Amid ongoing investigations into its supply chain unit, how did Fu Yu’s board end up with only one director?
A board dispute has left components manufacturer Fu Yu Corporation with no independent directors and only one executive director. Three…
Business
UBS, Pictet report data leak after cyberattack on provider, client data unaffected
Files containing details of tens of thousands of UBS employees were stolen, report says Swiss banks UBS and Pictet on Wednesday (Jun 18)…
Business
Far East Orchard secures £96 million for private fund to develop UK student accommodation
This supports the company’s pivot ‘towards an asset-light model and its objective of growing recurring fee-based income’ Far East Orchard…
Business
Grab’s US$1.5 billion convertible issue seen as prepping for competition and need for capital: Maybank
Grab’s recent move to upsize its five-year convertible note size to US$1.5 billion is timely given that the Asean digital sector – which…
Business
DBS aims to double Australian lending book in 5 years
DBS Group aims to double its Australian lending book in the next five years, its CEO Tan Su Shan said, as the Singapore-headquartered bank…
Business
UOB becomes direct participant in China’s cross-border clearing and settlement system
UOB and its wholly owned subsidiary UOB China have become direct participants in China’s Cross-border Interbank Payment System (CIPS), the…
Business
Meta offered US$100 million bonuses to poach OpenAI employees: CEO Altman
Meta offered US$100 million bonuses to OpenAI employees in an unsuccessful bid to poach the ChatGPT maker’s talent and strengthen its own…
Business
Singapore shares dip ahead of Fed decision; STI down 0.3%
Stocks on the local bourse fell on Wednesday (Jun 18), tracking the mixed performance in other Asian markets, as investors awaited the US…
Business
European, North Asian companies also eyeing the potential of JS-SEZ: UOB banker
The Johor-Singapore special economic zone (JS-SEZ) is drawing interest from companies not just from Singapore, but also from Europe and…
Business
Indonesia antitrust agency gives 'conditional' go-ahead for TikTok's Tokopedia takeover
The agency will continue to monitor whether the requirements are being implemented until June 17, 2027 Indonesia’s antitrust agency has…
Business
CEO’s wealth hits US$33 billion as unprofitable Chinese medicine firm’s stock soars
A blistering rally in a tiny, money-losing traditional Chinese medicine company’s stock has vaulted its founder’s net worth to among the…
Business
Defence, oil and other names: Analysts look at ways to invest amid Israel-Iran conflict
Recent attacks between Israel and Iran have caused investors to mull over where to place their bets next, especially with defence names…
Business
Malaysia scores record flows as bond investors favour Asia
Bond investors fleeing the United States are finding a haven in stable and lucrative Asian debt markets, with Malaysia leading the pack as…
Business
Today's AI Updates: OpenAI Brings Image Creation to WhatsApp As Microsoft Rolls Out Smart AI Agent for Windows PCs
As the race to lead the artificial intelligence boom intensifies, top technology firms are leaving no stone unturned in their efforts to…
Business
China’s rare earth exports slump in May as magnet sales curbed
The data for last month shows the extent to which export controls in place since early April had curbed shipments China’s exports of rare…
Business
BlackRock launches absolute return hedge fund for retail investors in Singapore and Hong Kong
BlackRock has launched an Asia-Pacific-focused hedge fund for retail investors in Singapore and Hong Kong, the world’s largest asset…
Business
EDB, US aerospace giant RTX sign MOU to invest, partner in AI and skills development
The deal, which details a 10-year road map to further long-term strategic collaboration, affirms Singapore’s role as a key hub for RTX’s…
Business
Wilmar to buy over Nigeria-incorporated palm oil business from British JV partner for US$70 million
Wilmar International is buying the remaining stake it does not already own in a Nigeria-incorporated palm oil business from its…
Business
China will hike quota for investors buying overseas assets
The move follows a period of relative calm in the value of the yuan against the US dollar, fuelled by growing questions about the…
Business
China car trade-in subsidy halted in some areas as funds run low
China’s trade-in subsidy to boost sales of electric and fuel-efficient vehicles has been suspended in key cities across at least six…
Business
China’s central bank says to promote digital yuan, multi-polar currency system
Pan Gongsheng expects several key global currencies to coexist in mutual competition and checks and balances China’s central bank governor…
Business
Wilmar International down 4% after Jakarta’s seizure of 11.8 trillion rupiah from Wilmar Group in graft case
The shares of Wilmar International fell on Wednesday (Jun 18) morning after the Indonesian authorities seized 11.8 trillion rupiah (S$928…