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China bans foreign AI chips from state-funded data centres: sources
The Chinese government has issued guidance requiring new data centre projects that have received any state funds to only use…
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UltraGreen.ai starts pre-marketing S$300m-S$400m Singapore IPO: sources
The planned share sale would add momentum to Singapore’s efforts to attract high-growth companies and boost its capital markets…
Business
UltraGreen.ai starts pre-marketing of over S$300 million Singapore IPO: sources
The planned share sale would add momentum to Republic’s efforts to attract high-growth companies and boost its capital markets…
Business
AirAsia plans up to US$600 million bond to cut borrowing cost: sources
The Malaysian budget carrier operator is targeting a coupon rate of below 10% for the proposed note AirAsia Aviation Group plans to raise…
Business
Amazon targets as many as 30,000 corporate job cuts: sources
The figure represents a small percentage of Amazon’s 1.55 million total employees, but nearly 10 per cent of its roughly 350,000 corporate…
Business
Nexperia’s China unit resumes chip sales to domestic distributors, requires renminbi-only payments: sources
The chipmaker is seeking chip packaging partners outside China as the dispute drags on [BEIJING/TAIPEI] Dutch chipmaker Nexperia’s Chinese…
Business
Chipmaker Yangtze Memory weighs over US$40 billion China IPO next year: sources
Yangtze Memory Technologies is considering an initial public offering in mainland China at a valuation that could exceed US$40 billion,…
Business
Chipmaker CXMT plans Shanghai listing with 300 billion yuan valuation: sources
[BEIJING/SINGAPORE] Chinese memory chipmaker ChangXin Memory Technologies (CXMT) plans an initial public offer in Shanghai as soon as the…
Business
Micron to exit China server chip market after failing to recover from 2023 ban: sources
The ban on Micron products in critical infrastructure has shut the company out of the country’s data centre expansion boom…
Business
GDS aims to raise over US$1 billion for international unit DayOne: sources
GDS is aiming to build up DayOne into an independently run and separately listed unit in the mid to long term GDS Holdings, one of China’s…
Business
Chinese data centre firm GDS aims to raise over US$1 billion for international unit DayOne: sources
GDS is aiming to build up DayOne into an independently run and separately listed unit in the mid to long term GDS Holdings, one of China’s…
Business
UBS tightens scrutiny of client funds mainly in Singapore and Hong Kong amid regulatory pressure: sources
The Zurich-based lender is using Deloitte and KPMG to help screen client documentation UBS Group is increasing scrutiny of the sources of…
Business
Huawei’s EV partner Seres said to gauge interest for US$2 billion Hong Kong listing: sources
Chinese electric-vehicle maker Seres Group has started gauging investor interest for a Hong Kong listing that may raise US$1.5 billion to…
Business
Spain the frontrunner for Chinese carmaker BYD’s third European plant: sources
CHINA’S No 1 automaker BYD considers Spain to be its top candidate for a third car factory to serve the European market, two sources…
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Exxon restarts FCCU at Texas refinery, sources say
Exxon Mobil restarted the gasoline-producing fluidic catalytic cracking unit on Thursday (Oct 9) at its 612,000-barrel-per-day refinery in…
Business
China’s state banks ramp up US dollar buying to stabilise renminbi: sources
The combined actions of the lenders mark a reversal from last year’s efforts to defend the weakening renminbi [SHANGHAI/BEIJING] China’s…
Business
Chinese 450 billion yuan optics firm Innolight weighs Hong Kong listing: sources
Zhongji Innolight, a Chinese maker of optical communication modules and devices, is considering a listing in Hong Kong, according to…
Business
Temasek-backed Foundation Healthcare mulls US$300 million Singapore IPO: sources
Foundation Healthcare, backed by Temasek Holdings, is considering an initial public offering (IPO) that could value the medical group at…
Business
Intel to reveal tech details on forthcoming PC chip: sources
The Panther Lake chips are the company’s high-end mobile processors that are typically included in more expensive laptops Intel plans to…
Business
NYSE parent nears deal for US$2 billion stake in crypto-based betting startup Polymarket: sources
INTERCONTINENTAL Exchange, the parent of New York Stock Exchange, is in talks to invest US$2 billion in Polymarket, The Wall Street…
Business
Budget Chinese carrier Spring Airlines mulls Hong Kong listing: sources
The airline has been more consistent in posting profit than the country’s main state-run carriers Chinese budget carrier Spring Airlines…
Business
Microsoft bets US$33 billion on neoclouds like Nebius to ease AI crunch: sources
Microsoft’s deal with neocloud company Nebius Group will provide computing power to internal teams creating large language models and a…
Business
ByteDance to get about 50% of TikTok US profit under Trump deal: sources
TikTok’s Chinese parent company will likely get about half of the profit from the platform’s US operation even after it sells majority…
Business
AliExpress tries to draw brands on Amazon: sources
Alibaba Group Holding is trying to attract established brand names on Amazon.com to its global e-commerce site AliExpress, stepping up…