Culture
The battle of the wealth hubs: Singapore, Dubai and Hong Kong
Asian financial hubs emerge as strong contenders in a global wealth migration wave Source link
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Culture
Culture
Canadian dollar posts fourth straight weekly loss amid Trudeau uncertainty
THE Canadian dollar strengthened against its US counterpart on Friday (Dec 20) as investors cheered US inflation data, with the loonie…
Culture
SingPost fires CEO Vincent Phang, CFO Vincent Yik over handling of whistleblowing report
SINGAPORE POST (SingPost) has terminated the employment of three of its senior management staff, as they were found to be negligent in the…
Culture
Soup Holdings expects to report loss for FY2024 on outlet closures, rising costs
Two newly opened outlets and a recently established central kitchen have underperformed SOUP Holdings expects to report a loss for the…
Culture
Nasdaq affected by interest rate expectations
THE Nasdaq-100 Index was up 25.46 per cent as at Dec 19, despite a correction of 3.56 per cent on Dec 18. The US stock market has seen…
Culture
OpenAI unveils 'o3' reasoning AI models in test phase
OpenAI said on Friday (Dec 20) it was testing new reasoning artificial intelligence (AI) models, o3 and o3 mini, in a sign of growing…
Culture
Car sales to grow modestly in 2025 as global output falters
Auto sales around the world are expected to grow marginally next year on increased supplies of vehicles, but production levels are likely…
Culture
Samsung Electronics, Texas Instruments finalise Chips Act awards
Samsung Electronics and Texas Instruments completed final agreements to get billions of dollars of government support for new…
Culture
Volkswagen unveils major job cuts in cost-saving drive
Crisis-hit auto giant Volkswagen said on Friday (Dec 20) it planned to axe 35,000 jobs by 2030 in Germany after reaching an agreement with…
Culture
Tether sees US$10 billion in net profits for 2024
The world’s biggest stablecoin issuer, Tether, is on track to close the year with more than US$10 billion in net profits, chief executive…
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Australian authorities urge hundreds to flee out-of-control bushfires
Bushfires in Australia’s Victoria state burnt out of control on Saturday (Dec 21), with authorities issuing an evacuation order at the…
Culture
Singapore stocks’ best year since 2017 masks downbeat outlook
Singapore’s main stock index is on track to have its best annual performance since 2017, but any celebrations over the Straits Times…
Culture
Luxury labels bulk up on lower-priced goods to appeal to middle-class shoppers
Confronting a broad decline in demand for their usual fare, including US$3,000-and-up handbags and US$4,000-and-up cashmere jackets, major…
Culture
Europe: Shares see worst week in more than 3 months as healthcare slides
Europe’s Stoxx 600 clocked its second straight weekly fall on Friday (Dec 20), with the healthcare sector leading losses after Danish firm…
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US: Stocks rally after inflation data but close lower for the week
US stocks rallied to close out the trading week on Friday (Dec 20) after two lacklustre sessions as a cooler-than-expected inflation…
Culture
Swiss bank watchdog blundered on Credit Suisse, report finds
THE Swiss parliament heavily criticised the previous leadership of Switzerland’s financial regulator Finma in a landmark enquiry into last…
Culture
Nanofilm Technologies reappoints founder as CEO
Current CEO will remain until Jun 13, 2025, to ensure a smooth transition of duties and responsibilities NANOTECHNOLOGY solutions provider…
Culture
Malaysia says Facebook, X, TikTok must get licences, NST reports
The move is meant to combat rising cases of cybercrime, including online fraud and gambling, as well as cyberbullying and sexual crimes…
Culture
Trump threatens tariffs if EU doesn’t buy more US oil and gas
PRESIDENT-elect Donald Trump warned the European Union that its exports will get hit with US tariffs if its member states don’t buy more…
Culture
China’s hottest stock, Pop Mart, rockets 370% on craze for collectibles
IN A Vanity Fair video last month, Lisa, a member of mega K-pop band Blackpink, shared her obsession with toys from Chinese company Pop…
Culture
China’s overseas investment adds to cash exodus weighing on renminbi
CHINESE firms from carmakers to miners are ramping up their overseas spending, adding to pressure on the renminbi amid an accompanying…
Culture
Intel shortlists suitors for programmable chip arm Altera
INTEL has shortlisted a number of buyout firms for the next round of bidding for its Altera unit, according to sources familiar with the…
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Apollo says private credit may reach US$40 trillion by 2030
APOLLO Global Management said that a booming part of private credit is already a US$20 trillion industry and that the market as a whole…
Culture
SK Hynix completes deal for US$958 million in US chips grant, loan
THE Biden administration has cemented a deal to give SK Hynix as much as US$458 million in grants and US$500 million in loans to support…