- FinanceBloomberg
Singtel Is Said to Tap BofA for Pursuit of Australia's Amaysim
Singapore Telecommunications Ltd., Southeast Asia’s largest telecom services provider, is moving ahead with examining a possible bid for wireless operator Amaysim Australia Ltd., people with knowledge of the matter said. The company is working with Bank of America Corp. to assess options for investing
- FinanceBloomberg
Singapore's Lee Sees 'Large Expenditures' on Health, Housing
Singapore’s Prime Minister Lee Hsien Loong outlined plans to boost support on health care and public housing that he said will require “large expenditures,” putting pressure on the city state to find new sources of funding for its growing social spending. Lee’s initiatives — detailed in his annual National
- FinanceBloomberg
Singapore Startup Raises $618 Million to Expand Datacenters
Goldman Sachs-backed AirTrunk has raised A$850 million ($618 million) to fund the expansion of its two Australian datacenters and a move into Asia to take advantage of a growing cloud computing market. Deutsche Bank AG underwrote a senior secured loan that will eventually be syndicated to a broader
- FinanceBloomberg
The Man Who Triggered a $10 Billion Commodity Collapse Finally Speaks
Arnaud Vagner has been a mystery for more than three years. Noble Group, once one of the world’s biggest commodity trading houses, characterized him as a disgruntled former junior employee behind a series of reports by Iceberg Research, an anonymous group that began attacking its accounting practices
- FinanceBloomberg
Philippines' Duterte Won't Stop Talking About Quitting
Philippine President Rodrigo Duterte keeps saying that he’s tired and ready to quit. “Guys, I want you to know that I am thinking of stepping down because I’m tired,” Duterte told a group of executives and politicians at the launch of a business program Tuesday night. During the 2016 election campaign
- FinanceBloomberg
Duterte Plays Catch-Up on Defense Spending With Cash for Troops
President Rodrigo Duterte is beefing up the ranks of the Philippines’ military and police as his government continues to wage its war against illegal drugs and Islamic State militants in the country’s south. The Interior and Defense Departments will receive record amounts in the proposed 2019 budget
- FinanceBloomberg
COMMENT: Singapore Home Prices Won't Pop Without Migrants
If Sherman Kwek sounds annoyed, he has his reasons — 2.9 million square feet worth of reasons.
- FinanceBloomberg
Singapore Home Sales Soar in July on Minute-to-Midnight Buying
Private home sales in Singapore soared to the highest in 16 months in July as buyers rushed to snap up properties hours before curbs aimed at quelling speculation came into effect. Developers sold 1,724 units last month, the Urban Redevelopment Authority said in a statement Wednesday. The government
- FinanceBloomberg
Why a Top Singapore Executive Fired Himself
Koh Boon Hwee overcame big crises during his four-decade career as a company executive. “People run out of steam or they allow themselves to be left behind,” Koh, who chaired the boards of some of Singapore’s most iconic firms before becoming a financier, said in an interview in the city-state.
- FinanceBloomberg
Morgan Stanley Intern Nabs Senior SE Asia Role in 7 Years
Morgan Stanley is promoting a pair of dealmakers in Southeast Asia, with one banker rising from intern to a senior position in just seven years. The U.S. firm has appointed Jannie Tsuei, who started as an associate intern in New York in 2011, as chief operating officer for Southeast Asia investment
- FinanceBloomberg
Flood Kills Six in Philippines, Tens of Thousands Displaced
At least six people died and tens of thousands fled their homes as monsoon rain triggered flooding in the Philippine capital and nearby areas, reminiscent of the deadly Typhoon Ketsana nine years ago. President Rodrigo Duterte’s scheduled aerial inspection of flooded areas this afternoon was canceled
- FinanceBloomberg
‘Crazy Rich Asians’ to Break Ground, If Not Box-Office Records
By the usual Hollywood standards, “Crazy Rich Asians” is a modest rom-com, set to generate about $18 million in its North American debut starting Wednesday. Hollywood hasn’t produced a movie like this — featuring a mostly Asian cast — in 25 years. Like “The Joy Luck Club” in 1993, “Crazy Rich Asians
- FinanceBloomberg
At New Raffles, Two of the World’s Best Chefs Come to Singapore
The Raffles Hotel Singapore is set to be among the top 10 hotel openings of 2018. Raffles Hotel Singapore closed its doors in December for its first renovation in almost 30 years. Whatever the cost—hotel owner Katara Hospitality says only that it’s a “significant amount” (the last major renovation
- FinanceBloomberg
Singapore's GDP Growth Disappoints as Construction Slumps
Singapore’s economy grew at a slower pace in the second quarter than initially projected as construction plunged. The export-reliant city state was already facing a high bar for growth this year following a boom in electronics demand in 2017 that fueled global trade. After last year’s expansion of
- FinanceBloomberg
Flood Cripples Philippine Capital as 54,000 Are Evacuated
A resident walks past washed up vehicles on a road after flooding brought about by heavy downpour due to exiting Tropical storm Yagi, submerged homes in Marikina City, the Philippines. More than 54,000 people were moved to safer ground in the Philippine capital and nearby provinces, while calls for
- FinanceBloomberg
Biggest Rate Increase in a Decade on the Cards for Philippines
The question facing policy makers in the Philippines is not whether to raise interest rates for a third time in a row, but by how much. A booming economy, surging inflation and pressure on the currency are setting the stage for a 50 basis-point increase in the benchmark rate to 4 percent on Thursday
- FinanceBloomberg
Singapore's Best Stock Rises From the Ashes of Uber's Demise
In a little over seven months, Singapore’s largest taxi company ComfortDelGro has reversed course from the city-state’s second-worst performing stock to its best.
- FinanceBloomberg
Surging Philippine Prices Boost the Case for Another Rate Hike
Consumer prices in the Philippines increased at the fastest pace in more than five years in July, boosting the case for the central bank to raise interest rates again this week. The majority of economists predict an increase in the benchmark rate to 4 percent from 3.5 percent, with the rest forecasting
- FinanceBloomberg
OCBC Profit Beats Estimates on Lending, Lower Allowances
Southeast Asia’s second-largest bank joins its two Singapore rivals in boosting lending income, thanks in part to rising interest rates in the region. United Overseas Bank Ltd. also posted better-than-expected profit, while DBS Group Holdings Ltd. missed estimates after being hit by losses at its treasury
- FinanceBloomberg
Things Are Looking Up for the Philippine Peso
Things are looking up for the Philippine peso after it suffered one of the biggest losses in the region in the first half of the year. The peso has outperformed all its Asian peers since mid-year, supported by increasing expectations of another central bank rate hike at the Aug. 9 policy meeting. Spot
- FinanceBloomberg
Wealthy Singapore’s a Prime Target for Global Hackers
Singapore’s status as a hyperconnected financial hub makes it a prime target for hackers, and recently reported attacks have intensified the focus on cyber security as it pushes to become one of the world’s leading technology hubs. In what local media have been calling the largest data breach in the
- FinanceBloomberg
World’s Biggest Passenger Jet Starts New Life
Danish tourists bound for Cyprus on Wednesday were set to get more room than they bargained for as the first used A380 superjumbo begins its new life with a trip to the Mediterranean holiday island from Copenhagen. The Airbus SE plane, the world’s biggest passenger jet, will depart for Larnaca at 8:
- FinanceBloomberg
Name-and-Shame Approach Puts More Women on Singapore Boards
Singapore lags most financial hubs when it comes to gender diversity on corporate boards, so much so that a government-backed group has started calling out companies with no female directors. Two years ago, after discovering 38 of Singapore’s 100 biggest companies had entirely male boards, the Diversity
- FinanceBloomberg
Billionaire Li's FWD Said to Mull Singapore Dual-Class IPO
Hong Kong billionaire Richard Li’s FWD Group is considering listing in Singapore with a dual-class structure, as the insurer moves ahead with its initial public offering preparations, people with knowledge of the matter said. FWD is discussing with advisers the merits of listing in Singapore using such
- FinanceBloomberg
Malaysia Approves a Singapore Rail Link, For Now
Malaysia’s new government has called into question the future of multibillion-dollar rail projects since Mahathir Mohamad took power in May. Now it appears to be ready to proceed with at least one. The Malaysian cabinet has given in-principle approval for a rail project linking Johor Baru in the southernmost
