- FinanceBloomberg
KinderWorld Education Group Is Said to Consider Singapore IPO
KinderWorld Education Group, which runs schools across Southeast Asia, is considering a Singapore initial public offering that could raise about S$70 million ($53 million), people with knowledge of the matter said.
- FinanceBloomberg
Why a Cashmere Sweater Can Cost $2,000 … or $30
A plain, yet meticulously crafted, sweater made of the world’s finest cashmere can cost $2,000 or more from premier fashion labels such as Loro Piana. You can also grab a simple sweater of 100 percent cashmere off a discount rack at Uniqlo for as little as $29.90.
- FinanceBloomberg
$30 Billion Philippine Stock Rout Draws Buying by Domestic Bulls
Officials to mark the opening of the Philippine Stock Exchange’s new building in Taguig City. As Philippine stocks tumbled to a one-year low Thursday, some of the nation’s biggest money managers put cash to work, betting against the relentless selloff led by foreign investors that has wiped out over
- FinanceBloomberg
Top Fund Managers Call Time on Philippine Property Share Rout
Philippine property stocks’ worst year-opening performance in a decade is starting to lure buying by the nation’s top equities fund managers. Noel Reyes, chief investment officer at Security Bank Corp., and Julian Tarrobago, head of equities at ATR Asset Management Inc., are raising their holdings of
- FinanceBloomberg
Boom: Rare Volcanic Wines Are Getting Poured Around the Globe
Growing grapes on the scorched slopes of a volcano that’s still spewing fire, smoke, and lava is as extreme as viticulture gets. The reward for the risk – in some cases, grapes are grown on volcanoes that could erupt at any time – is the world’s most exciting wines. 2018 is turning out to be the year
- FinanceBloomberg
Travel Agents Reveal Their Best Under-the-Radar Vacation Spots
“It’s also home to incredible food,” he says – picking the old-school Jamonal de Ramonet as his “favorite place for tapas in the entire world.” Hikes in mountainous Mongto National Park, a protected expanse right next to the city, offer stunning views that evoke Rio or Cape Town. Stay at the lovely
- FinanceBloomberg
'I Need China': Duterte's Pivot to Beijing Starting to Pay Off
Philippine President Rodrigo Duterte was full of praise for Beijing and even declared his love for Chinese President Xi Jinping as he embarked on his third visit to China this week to foster warmer ties strained by a territorial dispute in the South China Sea. “More than anybody else at this time of
- FinanceBloomberg
Singapore Central Bank Tightens Policy Amid Solid Growth
Singapore’s central bank tightened monetary policy on Friday, changing its stance for the first time in two years amid solid economic growth prospects for 2018. The Monetary Authority of Singapore, which uses the exchange rate as its main policy tool, increased the slope of the currency band slightly
- FinanceBloomberg
San Miguel Seeks Up to $3.6 Billion in Share Sale at Merged Unit
San Miguel Corp., the Philippines’ largest company, expects to raise as much as $3.6 billion selling shares of its merged food and drinks unit in the fourth quarter in what could be the country’s biggest share sale on record. San Miguel Food and Beverage Inc., which combined three businesses of the
- FinanceBloomberg
Trade Risks Aside, Singapore Central Bank Is Ready to Tighten
Singapore’s central bank is one step closer to tightening monetary policy this week. A majority of economists surveyed by Bloomberg predict policy makers will look past the latest trade skirmishes between the world’s two largest economies and assess the city state’s growth outlook as solid and inflation
- FinanceBloomberg
Duterte Banks on China Ties to Repair War-Torn Philippine City
China will have a chance to showcase warmer ties with the Philippines if it wins a contract to rebuild a city ravaged by Islamic State-inspired terrorists last year, a cabinet member said. The contract for rebuilding Marawi, the country’s only Muslim-majority city, is expected to be finalized by the
- FinanceBloomberg
Singapore Uncertainty Index Climbs as Trade War Clouds Outlook
Rising U.S.-China trade tensions are raising alarm bells in export-reliant Singapore, with an index measuring economic uncertainty climbing to a five-month high in March. The Economic Policy Uncertainty Index for Singapore increased to 155 last month from 126 in February, showing the tariff threats
- FinanceBloomberg
Mahathir Pledges to Review China Investment After Malaysia Vote
Chinese investors in Malaysia will face more scrutiny if former prime minister Mahathir Mohamad wins back power in the upcoming election. Mahathir, the opposition’s candidate for prime minister, said in an interview Friday that Chinese investment was welcome if companies set up operations in Malaysia
- FinanceBloomberg
Indonesia Threatens to Shut Down Facebook if Privacy Breached
The Facebook application is displayed for a photograph on an Apple iPhone. An Indonesian cabinet member has threatened to shut down Facebook Inc. if there is any evidence the personal data of citizens is being harvested or the social media giant fails to crack down on “fake news” during upcoming elections
- FinanceBloomberg
Singapore Home Prices Post Biggest Jump in Almost Eight Years
Singapore private home prices surged the most since 2010 as the property market staged a recovery from a four-year slump. An index tracking private residential prices jumped 3.1 percent in the three months ended March 31, according to a flash estimate from the Urban Redevelopment Authority, building
- FinanceBloomberg
Philippines' Duterte Set to Force Boracay to Close, Clean Up
President Rodrigo Duterte’s plan to shut Boracay island in order to clean it up could deal a blow to the nation’s plan to attract 7.4 million tourists this year. Uncontrolled construction of too many establishments so close to the shoreline and the lack of sewerage systems have created environmental
- FinanceBloomberg
Uber Cedes Southeast Asia to Chief Rival Grab in Latest Pullout
Uber Technologies Inc. has agreed to sell its Southeast Asian operations to Grab, withdrawing from yet another fast-growing region to end a war of attrition with a fierce local rival. Under the agreement, Grab will acquire all of Uber’s operations in a region of 620 million people, including food delivery
- FinanceBloomberg
How Singapore Wealth Fund GIC Invests in Tech Companies: Q&A
Singapore’s sovereign wealth fund GIC Pte spoke to Bloomberg News about its technology investment strategy. Here are edited excerpts from the interview on Tuesday with Chief Executive Officer Lim Chow Kiat and head of the company’s technology investment group, Jeremy Kranz.
- FinanceBloomberg
Philippines Holds Interest Rate as Inflation Seen in Target
The Philippine central bank left its benchmark interest rate at a record low as it forecast inflation will remain inside the target band this year and in 2019. Bangko Sentral ng Pilipinas held the overnight borrowing rate at 3 percent, it said in a statement on Thursday in Manila, as predicted by 11
- FinanceBloomberg
Hey Kid! The Philippine Central Bank Wants Your Pocket Money
The Philippine central bank’s new hero is Raj Hortaleza, aged 11. While most of his friends trooped to shopping malls to spend their Christmas money last holidays, Hortaleza put the $57 he received in the bank, adding to the $2 per week allowance he’s been saving. Bangko Sentral ng Pilipinas wants
- FinanceBloomberg
Economists Split on Singapore Central Bank Tightening: Survey
Economists are split on whether the Monetary Authority of Singapore will change its policy stance in April amid subdued inflation pressure. Four of seven economists see the central bank shifting to a tightening stance next month, according to a Bloomberg survey conducted March 13-16. The MAS is the
- FinanceBloomberg
Mr Tan Goes to Washington: The Undoing of a Tech Mega-Deal
Hock Tan had a trick for winning over skeptical investors. When people asked why he was so confident that Washington would approve his $117 billion takeover of Qualcomm Inc., Tan would take out his cell phone and show them a photo of himself with U.S. President Donald Trump. Boy, was Tan wrong.
- FinanceBloomberg
Singapore's Non-Oil Exports Slide the Most Since 2016
Ships sit docked while unloading freight at the Tanjong Pagar Container Terminal, in Singapore. Singapore’s non-oil domestic exports slumped the most since October 2016, signaling growth risks to one of Asia’s most trade-dependent economies.
- FinanceBloomberg
Shareholder Revolt Emerges as Key Risk for Noble Group Debt Deal
A revolt by Noble Group Ltd.’s shareholders has emerged as one of the major threats to the struggling trading house’s $3.5 billion restructuring deal after it agreed terms with a group of hedge fund creditors. If shareholders vote against the deal, the company will seek to implement the restructuring
- FinanceBloomberg
Philippines Gets $3.8 Billion Airport Upgrade Offer From Aboitiz
Aboitiz Equity Ventures Inc., a Philippine conglomerate mainly invested in power, is ready to spend about 200 billion pesos ($3.8 billion) in upgrading the Southeast Asian country’s rickety and overcrowded airports. “Airports is a play on consumer growth, on their increasing financial capability and
