AI models with systemic risks given pointers on how to comply with EU AI rules
BRUSSELS :The European Commission set out guidelines on Friday to help AI models it has determined have systemic risks and face tougher obligations to mitigate potential threats comply with European Union artificial intelligence regulation (AI Act).The move aims to counter criticism from some compan ...
Lum Chang Creations’ public offer of 1 million shares 47.3 times oversubscribed
Ranamita Chakraborty - IPO raises total gross proceeds of S$12.25 million, including S$8.75 million from new shares and S$3.5 million from vendor shares
Garuda new 737 plane’s higher rent may strain finances further
It is paying around US$400,000 per month for the 737 Max 8 it has leased from BOC Aviation
Daily Debrief: What Happened Today (Jul 18)
Stories you might have missed
Qian Hu reports 87.7% y-o-y decline in 1HFY2025 earnings of $31,000
Nicole Lim - Qian Hu Corporation has reported an 87.7% y-o-y decline in earnings for the 1HFY2025 ended June 30 of $31,000. The integrated fish service provider’s revenue for the reporting period came in marginally lower at $35.1 million, down 0.2% y-o-y from the $35.2 million reported in the same period a yea ...
China quietly issues 2025 rare earth quotas, sources say
China has quietly issued its first 2025 rare earth mining and smelting quotas without the typical public statement, sources with knowledge of the matter said this week, another sign of Beijing tightening its control over the crucial sector. The quotas are closely monitored as a barometer for the glo ...
UOB awarded S$17.7m in civil suit against Lippo Marina Collection over inflated housing loans
[SINGAPORE] UOB has been awarded S$17.7 million in claims against Indonesian developer Lippo Marina Collection (LMC) and two property agents, Goh Buck...
ISDN’s subsidiary partners Harmonic Drive Systems Inc to distribute precision control system products in Asia
Nicole Lim - A subsidiary of ISDN Holdings has entered into a joint sales agreement with Tokyo-based company Harmonic Drive Systems Inc (HDSI) for the sale and distribution of HDSI’s products across Asia. HDSI, a technology company specialising in precision control systems, will work with Servo Dynamics to pro ...
Japan provides reality check for Couche-Tard's grand retail dream
TOKYO :Alimentation Couche-Tard's attempt to create a global convenience store behemoth was set back when it pulled its $46 billion bid for Seven & i, whose consumers in Japan have emotional ties to their purveyor of rice balls.The Canadian company, which owns Circle-K, withdrew its bid on ...
US Treasury's Bessent believes good tariff deal is possible, Japan PM Ishiba says
TOKYO: US Treasury Secretary Scott Bessent told Japanese Prime Minister Shigeru Ishiba that their countries can reach a "good agreement" on tariffs, Ishiba said on Friday (Jul 18) after meeting Bessent at his office in Tokyo. Ishiba added that while no specific terms were discussed, such a ...
Singapore shares end week on high; STI up 0.7%
Navene Elangovan - Across the broader market, advancers outnumber decliners 430 to 147, after 2.2 billion securities worth S$1.6 billion change hands
Entity backed by Teo family and Wing Tai completes compulsory acquisition of Amara Holdings
Nicole Lim - The entity that has offered to take Amara Holdings private has declared the completion of the compulsory acquisition after the transfer of offer shares of dissenting shareholders, according to a bourse filing on July 18. Amara is now a wholly-owned subsidiary of the entity, DRC Investments, and will ...
Oil prices rise after EU new sanctions on Russia
LONDON :Crude oil futures rose on Friday while gasoil futures jumped to a 17-month high as investors weighed new European Union sanctions against Russia.Brent crude futures climbed 73 cents, or 1.05 per cent, to $70.25 a barrel by 1151 GMT. U.S. West Texas Intermediate crude futures gained 83 cents, ...
Oil edges higher after EU new sanctions on Russia
LONDON :Oil prices edged higher on Friday, heading for a small weekly loss, as investors weighed new European Union sanctions against Russia.Brent crude futures climbed 50 cents, or 0.72 per cent, to $70.02 a barrel as of 0912 GMT, U.S. West Texas Intermediate crude futures gained 61 cents, or 0.9 p ...
Lum Chang Creations IPO for total application 2 times subscribed
Felicia Tan - Lum Chang Creations’ initial public offering (IPO) is approximately 2.0 times subscribed based on the invitation for all 49 million shares, raising $12.25 million. Lum Chang Creations, on July 9, launched its IPO at 25 cents a share with a view to raise gross proceeds of $8.75 million. The company ...
RHB Bank’s Singapore unit key to regional growth plan, targets
[SINGAPORE] RHB Singapore, part of Malaysia’s fourth-biggest banking group RHB, will be key in driving its regional expansion plans and help meet...
Bank of Japan may offer less gloomy view of US tariff hit in report, sources say
TOKYO :The Bank of Japan will warn of uncertainty over the impact of U.S. tariffs in a quarterly report due this month, but may offer a less gloomy view on the near-term hit to Japan's economy than three months ago, said three sources familiar with its thinking.With the BOJ set to keep interest ...
RHB Singapore targets regional leadership under new PROGRESS27 strategy
Samantha Chiew - RHB Singapore is set to play a larger role in driving the group’s regional ambitions, unveiling its 2025–2027 strategic roadmap, PROGRESS27 on July 18. The plan positions the Singapore business as the financial group’s lead regional hub under the newly formed Group International Business (GIB) ...
Russian lawmaker says WhatsApp is a security threat and should prepare to leave the Russian market
MOSCOW :WhatsApp should prepare to leave the Russian market, a lawmaker who regulates the IT sector said on Friday, warning that the messaging app owned by Meta Platforms is very likely to be put on a list of restricted software.Russian President Vladimir Putin last month signed a law authorising th ...
Russian lawmakers say 'security threat' WhatsApp should prepare to leave Russia
MOSCOW :WhatsApp should prepare to leave the Russian market, a lawmaker who regulates the IT sector said on Friday, warning that the messaging app owned by Meta Platforms was likely to be put on a list of restricted software.President Vladimir Putin last month signed a law authorising the developmen ...
WhatsApp should prepare to leave the Russian market, influential lawmaker says
MOSCOW :WhatsApp should prepare to leave the Russian market, a lawmaker who regulates the IT sector said on Friday, warning that the messaging app owned by Meta Platforms is very likely to be put on a list of restricted software.Russian President Vladimir Putin last month signed a law authorising th ...
Revitalising public markets: A global imperative for growth
The World Federation of Exchanges - To policymakers, regulators, market participants, and the global investment community, Public markets are at a critical juncture. The latest data from the World Federation of Exchanges confirms a troubling reality: the number of initial public offerings (IPOs) globally has fallen to its lowest level ...
China venture capital funds tap global investors for US$2 billion in comeback
At least six of the country’s most prominent VC firms are creating new US dollar-denominated funds, designed to allow overseas investors to...
OCBC's Lim raises fair value for Boustead Singapore again to $2
The Edge Singapore - Having "sent a positive signal to the market," Boustead Singapore's share price has reached $1.63, the fair value given by OCBC Investment Research's Ada Lim. The share price has gained by a fifth in less than a month, and up by three-fifths year to date. Yet, given how the compa ...
BP to sell onshore wind business in US
BP is seeking to cut cleaner energy investment by more than US$5 billion annually
DBS scores hat-trick win including ‘World’s Best Bank’ by Euromoney
Felicia Tan - DBS Group Holdings has won three awards at the Euromoney Awards for Excellence 2025. This includes receiving the “World’s Best Bank” accolade for the third time since 2019. DBS was also recognised as the “World’s Best Bank for Customer Experience” for the first time and “World’s Best ...
HSBC disbands team focused on managing geopolitical risks
Ambereen Choudhury, Denise Wee and Harry Wilson / Bloomberg - HSBC Holdings is disbanding a team of staffers that were focused on identifying and managing geopolitical risk even as the possibility of such threats has ratcheted up since US President Donald Trump returned to power. The move will impact fewer than 10 roles across Asia, Europe and other regions, a ...
Gold steady as traders weigh US economy, rate cut directions
Yihui Xie / Bloomberg - Gold steadied and was set for a moderate weekly loss as investors assessed the outlook for Federal Reserve rate cuts after resilient US jobs and retail data eased concerns about the economy. Bullion traded below US$3,340 ($4291.28) an ounce, heading for a 0.5% drop on the week. That came after data ...
Does a Trump adviser’s 41-page paper explain the tariffs? Here’s a visual guide
David Li Zuowei - In November last year, an article titled A Guide to Restructuring the Global Trade System was published by Stephen Miran, chairman of US President...
Burberry sales fall less than feared as turnaround takes shape
Angelina Rascouet / Bloomberg - Burberry’s sales fell less than expected, as the UK fashion brand proved resilient with a turnaround under CEO Joshua Schulman. Comparable store sales shrank 1% in the quarter ended June, Burberry Group said in a statement Friday. Analysts had expected a 3.7% drop. Sales in the Americas saw the st ...
China lifts exports of rare-earth products after trade war curbs
China’s exports of rare-earth products jumped in June, pointing to a potential pickup in magnet supplies after government-imposed curbs that proved to be Beijing’s most powerful weapon in its trade war with the Trump administration. Customs data released Friday show exports of all rare-earth pro ...
Reckitt sells Essential Home stake to Advent for $4.8 billion
Reckitt has sold a majority stake in its Essential Home business to private equity firm Advent International in a deal valued at $4.8 billion including debt, it said on Friday.The consumer goods group said it would retain a 30 per cent stake in the business, which makes Air Wick fresheners, Cillit B ...
Reckitt to sell Essential Home business to Advent in $4.8 billion deal
Consumer goods firm Reckitt said on Friday that it has agreed to sell its Essential Home business, maker of Air Wick fresheners, to private equity firm Advent International in a deal valued at $4.8 billion including debt.Reckitt said it would retain a 30 per cent stake in the unit. Reuters exclusi
Chinese brands are piling into S-E Asia and expanding rapidly in sectors from food to electric vehicles
Chloe Lim - They are dominating in industries where they hold competitive advantages
