- FinanceBloomberg
As Kim Visits China, Xi Flaunts Bargaining Chip in Trade Dispute
Kim Jong Un (right) walking with Xi Jinping in Beijing in an undated photo released 20 June 2018. As if on cue, Kim Jong Un returned to Beijing on Tuesday in an illustration of how President Donald Trump’s tariff threats against China could spiral into a broader conflict between the world’s two largest
- FinanceBloomberg
Noble Group Halts Shares as Restructuring Hangs in Balance
The company logo of Noble Group is displayed at its office in Hong Kong. Noble Group Ltd. suspended its shares in Singapore on Monday pending an announcement, as efforts to get shareholder agreement on its controversial $3.5 billion debt restructuring plan drag on longer than expected. The stock fell
- FinanceBloomberg
Bitcoin Could Break the Internet, Central Bank Overseer Says
The Bank for International Settlements just told the cryptocurrency world it’s not ready for prime time – and as far as mainstream financial services go, may never be. In a withering 24-page article released Sunday as part of its annual economic report, the BIS said Bitcoin and its ilk suffered from
- FinanceBloomberg
Philippine Peso Needs a More Hawkish Central Bank to Stem Losses
The Philippine currency and bond markets will need a more hawkish tone from the central bank this week to stem their losing streak, as investors fret over whether policymakers are softening their fight on inflation. The peso is at a 12-year low against the dollar even after the May 10 rate increase
- FinanceBloomberg
Funds Turn Cool on Malaysia as 1MDB Swells Debt to $250 Billion
The escalating scandal around troubled state-investment-fund 1MDB is turning bond funds against Malaysia. The disclosure that the nation’s debt is almost 60 percent higher than previous estimates at 1 trillion ringgit ($250 billion), largely because of hidden liabilities tied to the troubled state investment
- FinanceBloomberg
The Singapore Stocks to Watch Amid Trump and Kim's Historic Meet
Apart from the obvious North Asian and U.S. equities that may be impacted by the outcome of President Donald Trump and North Korea Supreme Leader Kim Jong Un’s meeting, there’s another geography investors can consider: Singapore. Its consumer stocks to be precise. The city-state’s Sentosa Island will
- FinanceBloomberg
$24 Billion Stock Wipeout Attracts Top Fund to the Philippines
After losing $24 billion in value from its January peak, Philippine stocks are ready for a comeback.
- FinanceBloomberg
Tycoon Seeks to Free Millions of Filipinos From Loan Sharks
Billionaire John Gokongwei, owner of the Philippines’ largest snack maker and budget airline, and a Skype Inc. founder will invest as much as $200 million over three years to lend to millions of unbanked Filipinos. The venture, set up last year by Gokongwei’s JG Summit Holdings Inc. and financial-technology
- FinanceBloomberg
Malaysia Said to Plan Arrest of Low and Ex-Goldman Banker Ng
Malaysian authorities conducting a probe into troubled state investment fund 1MDB have issued an arrest warrant for financier Low Taek Jho and are preparing warrants for two others, including a former Goldman Sachs Group Inc. banker, people with knowledge of the matter said. The Malaysian Anti-Corruption
- FinanceBloomberg
Financier Jho Low to Cooperate in Malaysia's Probe Into 1MDB
Malaysian financier Low Taek Jho said he will help in an investigation linked to scandal-hit state fund 1MDB after the anti-graft agency summoned him for questioning. Low has instructed his lawyers to make contact with the Malaysian Anti-Corruption Commission after he was made aware they were seeking
- NewsBloomberg
Trump Wants Kim to Commit to Disarmament Timetable in Singapore
The White House wants North Korean leader Kim Jong Un to commit to a timetable to surrender his country’s nuclear arsenal when he meets President Donald Trump next week in Singapore, a high-stakes summit that could last as long as two days — or just minutes. Trump has been advised not to offer Kim any
- FinanceBloomberg
Why a 26-Year-Old Turned Down $100 Million Offer for His Startup
A few years ago, Quek Siu Rui huddled with the board of his Singapore startup to consider whether to sell. Quek was only 26 and the $100 million offer would have made him wealthy beyond his dreams. Quek’s company, an app for selling used goods called Carousell, is now valued at about $500 million,
- FinanceBloomberg
Spreading Inflation Pressure Catches Philippine Companies
It’s not only consumers who are taking a hit from rising prices in the Philippines. Companies are feeling the pressure as higher oil prices and a weak currency boost their costs. Take the case of D&L Industries Inc., a chemical and food ingredient manufacturer, which imports half of its raw materials
- FinanceBloomberg
Duterte Leaves to Congress Fate of Tax Law Blamed for Inflation
Philippine President Rodrigo Duterte said he will let lawmakers decide what to do with a tax law that his administration lobbied for and is now being partly blamed for rising prices. “The law was enacted by Congress, I leave it to Congress to decide whether or not to amend, suspend or modify the law
- NewsBloomberg
Hunt for Trump-Kim Venue Leads to Old Singapore Pirate Hangout
Of all Singapore’s big hotels, only one shows all its rooms and restaurants are blocked out for the week surrounding June 12, when U.S. President Donald Trump and North Korean leader Kim Jong Un are due to meet in the city. The booking crunch at the Capella, which sits in the middle of 30 acres of lawns
- FinanceBloomberg
Tech Investors Warm to This Booming But Overlooked Asian Market
The hunt for bargains in Southeast Asian’s red-hot technology arena is finally driving investors to the Philippines. Galvanized by Alibaba-founder Jack Ma’s investment in payments outfit Mynt, early-stage investors have begun to explore opportunities in one of the region’s fastest-growing economies,
- FinanceBloomberg
Singapore, India Exchanges Are Said to Abandon Trade Link Talks
Singapore Exchange Ltd. and National Stock Exchange of India Ltd. have abandoned talks on a cross-border trading link, according to people familiar with the matter, amid a bitter court battle that’s soured an 18-year partnership. The venture would have seen traders in Singapore buy and sell derivatives
- FinanceBloomberg
Philippine Air Carriers Poised to Raise Prices on Peso, Fuel
Philippine (2nd L) and Cebu Pacific (L,R) airlines planes sit at the tarmac of the Manila international airport. Airlines in the Philippines are under pressure to raise ticket prices to offset rising fuel costs and the peso’s plunge to an almost 12-year low, risking lower demand from travelers also
- FinanceBloomberg
Philippine Central Bank Chief Plans More Reserve Cuts This Year
The Philippine central bank plans to further reduce the amount of money lenders are required to hold as reserves, Governor Nestor Espenilla said. “Definitely, there’ll be more this year” on cuts to the reserve requirement ratio, Espenilla said in an interview in his office in Manila on Thursday. Officials
- FinanceBloomberg
As Singapore and India Fight Over Futures, Investor Worries Grow
What started as a business disagreement between two Asian exchanges has become a source of growing concern for international investors. A fight between Singapore Exchange Ltd. and National Stock Exchange of India Ltd. over derivatives contracts is threatening to end a popular way of hedging Indian shares
- FinanceBloomberg
Singapore Bourse Sued by India Exchange in Futures Dispute
The National Stock Exchange of India Ltd. sued Singapore Exchange Ltd. in a Mumbai court, escalating a dispute that threatens to leave international investors without one of the world’s most widely used offshore futures contracts. NSE is trying to stop its Singapore counterpart from launching derivatives
- FinanceBloomberg
Fallen Singapore High-Flyer Gets Court Protection to Reorganize
Hyflux Ltd., the Singapore water treatment and power firm, has started a court-supervised debt reorganization process to protect the value of its business after reporting unprecedented losses. Hyflux has also decided not to pay S$14.9 million ($11.1 million) of interest due on May 28 on its perpetual
- FinanceBloomberg
Duterte Says Philippines Won't Oppose China on Sea Activity
Philippine President Rodrigo Duterte speaks to members of the Philippine community during a gathering in Singapore. Philippine’s President Rodrigo Duterte reiterated that he would not provoke China into a war following reports that the Chinese military landed long-range bombers on an airport in the
- FinanceBloomberg
Anwar Reassures Malays Who Fear They May Lose Racial Advantage
Anwar Ibrahim has a simple message for ethnic Malays who fear losing benefits they enjoyed under the previous government’s six-decade rule: Don’t worry. Anwar, who is expected to replace 92-year-old Prime Minister Mahathir Mohamad in a year or two, said Malaysia must assure the nation’s largest racial
- FinanceBloomberg
Closing Gender Gap Could Bring $40 Billion to Philippine Economy
The Philippines can expand its economy by as much as $40 billion by 2025 if it can bring more poor, less-educated women into the workforce, according to the McKinsey Global Institute. The South East Asian country has the most gender-equal workplace in Asia, leading the region with the number of women
