SINGAPORE – A total of 234 staff working at Crowne Plaza Changi Airport have tested negative for Covid-19, said the Ministry of Health (MOH) on Saturday (Jan 9). The ministry announced on Thursday a special testing operation of all hotel staff after two unlinked cases were found among staff there. A third case also emerged […]

NEW YORK (AFP) – Wall Street stock indices closed at records again Friday (Jan 8) as anticipation of a new fiscal relief package offset poor December jobs figures. The Dow Jones Industrial Average climbed 0.2 per cent at 31,097.97, its third straight record. The broad-based S&P 500 gained 0.6 per cent to 3,824.68, while the […]

OCBC Bank has appointed its first female group chief executive – and the first woman to head a Singapore bank. Ms Helen Wong, 59, will succeed group CEO Samuel Tsien, 66, who retires on April 14 after nine years in the top job. Chairman Ooi Sang Kuang said yesterday that the appointment marks the board’s […]

UOB has broken new ground here by pricing capital securities with a reset coupon rate that references the Singapore Overnight Rate Average Overnight Indexed Swap (Sora-OIS) rate. The move is another step towards the adoption of a Sora-based pricing benchmark in the Singdollar bond market, and part of broader industry efforts to develop robust Sora-based […]

Mercuria  Trading house Mercuria and Singapore-based asset manager Envysion Wealth Management have agreed to co-invest in mining and energy projects, as default-hit banks tighten their purse strings and leave commodities firms seeking other funding. The deal, signed on Wednesday, will see Mercuria present potential projects for investment to Envysion, founded and led by former Julius […]

NEW YORK • Sheldon Adelson, the chairman and chief executive officer of Las Vegas Sands, which owns Singapore’s Marina Bay Sands, is taking a leave of absence after resuming treatment for cancer. Mr Adelson had retained his executive role since the company revealed in 2019 that he had non-Hodgkin’s lymphoma. Company president Robert Goldstein will […]

SINGAPORE – A train fault occurred on the North-South MRT line late Friday night (Jan 8), but was cleared with train services progressively restored before midnight. In a post on Twitter just after 11pm, rail operator SMRT said that owing to a train fault commuters should add 25 minutes to their travel time between Woodlands […]

NEW YORK (BLOOMBERG) – Sheldon Adelson, the chairman and chief executive of Las Vegas Sands, which owns Singapore’s Marina Bay Sands, is taking a leave of absence after resuming treatment for cancer. Mr Adelson had retained his executive role since the company revealed in 2019 that he had non-Hodgkin’s lymphoma. Company president Robert Goldstein will take […]

BANGKOK (BLOOMBERG) -Delta Electronics (Thailand) Pcl’s shares have surged more than 11-fold over the past year, leaving market watchers and even the company puzzled. With fundamentals not strong enough to justify the meteoric rise, analysts too are falling out of love with the stock. While electronic-parts makers have emerged as a hot play after the […]

SINGAPORE (REUTERS) – Trading house Mercuria and Singapore-based asset manager Envysion Wealth Management have agreed to co-invest in mining and energy projects, as default-hit banks tighten their purse strings and leave commodities firms seeking other funding. The deal, signed on Wednesday (Jan 6), will see Mercuria present potential projects for investment to Envysion, founded and […]

HONG KONG (BLOOMBERG) – MSCI will remove China’s three major telecommunications companies from its benchmark indexes, adding fresh selling pressure to stocks that have swung wildly this week on confusion over whether they should be included in a US ban on investments in Chinese companies with military ties. The index provider’s decision to cut China […]

SINGAPORE (THE BUSINESS TIMES) – Sembcorp Industries’ India energy arm, Sembcorp Energy India Limited (SEIL), has clinched a 400 megawatt solar power project through its renewables subsidiary, Sembcorp Green Infra. The energy and utilities group announced on Friday (Jan 8) that SEIL won the bid in a “closely contested” auction conducted by the Solar Energy […]

SINGAPORE – While Covid-19 has made it necessary for many to embrace digitalisation, there are some who need help grasping tools and skills of technology, and they should not be left behind, said Minister in the Prime Minister’s Office Maliki Osman. Digital inclusivity was one of the main concerns highlighted by participants during a virtual […]

SYDNEY (BLOOMBERG) – Asian stocks advanced with US futures on Thursday (Jan 7) after Democrats took control of the Senate following key elections, paving the way for President-elect Joe Biden to implement his agenda. Treasuries held overnight losses. Stocks rose in Japan, Australia, Singapore and South Korea. Hong Kong shares were little changed, weighed down […]

SINGAPORE (THE BUSINESS TIMES) – Property developer Oxley holdings has received a $106.4 million investment through a convertible note issuance to funds managed by Dignari Capital Partners (DCP), a private equity firm based in Hong Kong. The convertible notes, with an aggregate principal amount of up to US$80 million, will bear a coupon interest of […]

BANGALORE (BLOOMBERG) – CropIn, an artificial intelligence (AI) and data-based agritech start-up, has raised US$20 million (S$26.4 million) in a funding round led by Temasek-backed ABC World Asia, as the coronavirus pandemic accelerates the adoption of digital technologies in farming. The Bangalore-headquartered agricultural AI start-up provides Software as a Service, or SaaS, products to farms […]

NEW YORK (REUTERS) – Investors are looking ahead to the next US administration after Democrats won control of Congress on Wednesday (Jan 6), a political shift that could strengthen the hand of President-elect Joe Biden in pushing through policies such as more fiscal spending and higher taxes. Reports of the attacks on the US Capitol […]

BEIJING (BLOOMBERG) – Chinese tech companies did a pretty good job convincing global investors that they operated independently from the Communist Party. Now, Jack Ma has become a case study for the firms’ biggest skeptics. Companies from Alibaba Group Holding to Tencent Holdings splashed out billions on overseas acquisitions while developing apps and technologies that […]

SINGAPORE – Shops and eateries at malls including Plaza Singapura, The Shoppes at Marina Bay Sands and Northpoint City are among 26 places visited by Covid-19 patients while they were still infectious, said the Ministry of Health (MOH). Providing an updated list of places in its statement on Wednesday (Jan 6) night, the ministry said […]

BEIJING (REUTERS) – China’s services sector activity expanded at a slower pace in December, a private sector survey showed on Wednesday (Jan 6), as sporadic coronavirus outbreaks tempered the recovery in consumer confidence and weighed on new business growth. The Caixin/Markit services Purchasing Managers’ Index (PMI) eased to 56.3, a three-month low, in December from […]