• Singtel Is Said to Tap BofA for Pursuit of Australia's Amaysim
    Finance
    Bloomberg

    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

  • Singapore's Lee Sees 'Large Expenditures' on Health, Housing
    Finance
    Bloomberg

    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

  • Singapore Startup Raises $618 Million to Expand Datacenters
    Finance
    Bloomberg

    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

  • The Man Who Triggered a $10 Billion Commodity Collapse Finally Speaks
    Finance
    Bloomberg

    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

  • Philippines' Duterte Won't Stop Talking About Quitting
    Finance
    Bloomberg

    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

  • Duterte Plays Catch-Up on Defense Spending With Cash for Troops
    Finance
    Bloomberg

    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

  • COMMENT: Singapore Home Prices Won't Pop Without Migrants
    Finance
    Bloomberg

    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.

  • Singapore Home Sales Soar in July on Minute-to-Midnight Buying
    Finance
    Bloomberg

    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

  • Why a Top Singapore Executive Fired Himself
    Finance
    Bloomberg

    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.

  • Morgan Stanley Intern Nabs Senior SE Asia Role in 7 Years
    Finance
    Bloomberg

    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

  • Flood Kills Six in Philippines, Tens of Thousands Displaced
    Finance
    Bloomberg

    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

  • ‘Crazy Rich Asians’ to Break Ground, If Not Box-Office Records
    Finance
    Bloomberg

    ‘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

  • At New Raffles, Two of the World’s Best Chefs Come to Singapore
    Finance
    Bloomberg

    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

  • Singapore's GDP Growth Disappoints as Construction Slumps
    Finance
    Bloomberg

    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

  • Flood Cripples Philippine Capital as 54,000 Are Evacuated
    Finance
    Bloomberg

    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

  • Biggest Rate Increase in a Decade on the Cards for Philippines
    Finance
    Bloomberg

    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

  • Singapore's Best Stock Rises From the Ashes of Uber's Demise
    Finance
    Bloomberg

    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.

  • Surging Philippine Prices Boost the Case for Another Rate Hike
    Finance
    Bloomberg

    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

  • OCBC Profit Beats Estimates on Lending, Lower Allowances
    Finance
    Bloomberg

    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

  • Things Are Looking Up for the Philippine Peso
    Finance
    Bloomberg

    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

  • Wealthy Singapore’s a Prime Target for Global Hackers
    Finance
    Bloomberg

    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

  • World’s Biggest Passenger Jet Starts New Life
    Finance
    Bloomberg

    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:

  • Name-and-Shame Approach Puts More Women on Singapore Boards
    Finance
    Bloomberg

    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

  • Billionaire Li's FWD Said to Mull Singapore Dual-Class IPO
    Finance
    Bloomberg

    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

  • Malaysia Approves a Singapore Rail Link, For Now
    Finance
    Bloomberg

    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