Culture
DBS said to revise Alliance Bank offer proposal to 30% stake
It made the decision after failing to get approval for its initial request to buy as much as 49%[SINGAPORE] Singapore’s biggest bank has withdrawn an application to start talks...
Dubai property frenzy sets developers on a US$6 billion debt spree
From Islamic bonds to private credit, they ride one of the Gulf country’s longest real estate booms in years[DUBAI] Property developers in the United Arab Emirates are raising billions...
Alibaba’s main AI app debuts strongly in effort to rival ChatGPT
The Chinese e-commerce leader’s Qwen is among the faster risers, particularly in China[HONG KONG] Alibaba Group Holding’s Qwen app drew more than 10 million downloads in the week after...
Singapore court clears way for US$2.7 billion suit against Stanchart in 1MDB scandal-linked claim
Claims involve alleged US$150 million deposit to Najib Razak and millions for Rosmah’s bags and jewellery[SINGAPORE] The Singapore High Court has dismissed an application by Standard Chartered Bank Singapore...
Surging Chinese imports of Indonesia oil point to rebranded Iranian crude, traders say
China’s imports from Malaysia have almost halved since July from this year’s peak in March at 8.5 million tonnes[BEIJING] China is importing unusually large quantities of crude oil from...
Marco Polo Marine expects ‘significantly higher’ FY2025 net profit
This is mainly due to impairment loss reversals on certain vessels and the disposal of its stake in Marco Polo Offshore[SINGAPORE] Marine logistics company Marco Polo Marine on Monday...
Macquarie Asset Management offers US$7.5 billion for logistics firm Qube
The Australian logistics and shipping-containers’ operations span container leasing, car and grain cargo terminals, and road and rail transport services[SYDNEY] Macquarie Asset Management offered to buy Qube Holdings in...
Lum Chang Creations subsidiary secures 2 contracts worth S$63.4 million
[SINGAPORE] Urban revitalisation specialist Lum Chang Creations on Monday (Nov 24) said its wholly owned subsidiary, Lum Chang Interior, clinched two contracts with a combined value of around S$63.4...
China’s Premier Li Qiang launches charm offensive on rare earths at G20
European nations have been hit hard by the Asian nation’s decision to require export licenses for metals with military purposesCHINA’S Premier Li Qiang came to the Group of 20...
UPS, FedEx scramble to shore up networks drained by deadly crash
The grounding has drained capacity and complicated operations for the world’s largest package delivery companies just as shipping volumes surge for the peak period to Christmas[NEW YORK] United Parcel...
BRC Asia H2 profit falls 5% to S$52.2 million
[SINGAPORE] Steel solutions provider BRC Asia reported a 5 per cent decrease in net profit for the second half of the year to S$52.2 million, from S$55 million in...
Wingtech urges Nexperia to respond on control dispute as it appeals Dutch decision over ownership
The Dutch suspend their Nexperia intervention but but do not revoke the original Sep 30 ruling[AMSTERDAM/BEIJING] Chinese semiconductor company Wingtech on Sunday (Nov 23) has escalated its dispute with...