India proposes five-year extension of anti-dumping duty on Malaysian glass
(Refiles to broaden clients. No changes to text.)By Manoj KumarNEW DELHI :India's trade watchdog recommended extending anti-dumping duties on glass imports from Malaysia for another five years, warning that ending tariffs could trigger renewed dumping and hurt domestic producers already affecte ...
Indonesia discussing plan for merger of Grab and GoTo, official says
JAKARTA: Indonesia is discussing a possible merger or acquisition between ride-hailing and food delivery firm Grab and its rival GoTo, the presidential spokesperson said on Friday (Nov 7).The government considers the ride-hailing industry as strategic for job creation and vital to the economy. GoTo& ...
Indonesia discussing plan for merger of Grab and GoTo: official
[JAKARTA] Indonesia is discussing a possible merger or acquisition between ride-hailing and food delivery firm Grab and its rival GoTo, the presidential...
Some Nexperia chip shipments resume as Germany welcomes ‘de-escalation’
Aumovio has secured deliveries of Nexperia’s chips from China
US shutdown compounds worst year for currency trading since 2005
Traders less willing to stake big bets with a dearth of crucial economic and market positioning statistics
Italy's Intesa expands digital investment offer in Belgium and Luxembourg
MILAN :Italy's biggest bank Intesa Sanpaolo said on Friday its Fideuram private banking arm was launching a digital investment offer partnering with BlackRock in Belgium and Luxembourg. Intesa teamed up with BlackRock in 2024 to expand the offering of Fideuram Direct, the digital wealth managem ...
French minister raises 'not acceptable' Shein sex dolls with China
SHANGHAI: France's foreign trade minister said on Friday (Nov 7) he had told Chinese authorities "in a spirit of cooperation" that sales of childlike sex dolls on e-commerce giant Shein's French website were "not acceptable".Paris moved on Wednesday to
Wall St reacts to Musk's $1 trillion pay plan approval by Tesla investors
Tesla CEO Elon Musk has won shareholder approval for the largest corporate pay package in history.At the EV maker's annual meeting at its factory in Austin, Texas, Musk bounded to the stage accompanied by dancing robots. The proposal was approved with more than 75 per cent support, allowing Mus ...
Full ride-hailing licences being evaluated for Trans-Cab, Geolah beyond 2025: LTA
[SINGAPORE] With just under two months left on their one-year provisional permits to offer ride-hailing services, Trans-Cab and Geolah’s eligibility for full ride-hailing...
'GTA VI' delay to November 2026 allows Take-Two potentially bigger launch, analysts say
Repeated delays of "Grand Theft Auto VI" have failed to perturb analysts, who believe the new release window will allow Take-Two Interactive to make a bigger splash when it launches the videogame industry's highly anticipated title next year.The videogame publisher pushed the title to ...
Ikea profit falls 26% to 1.7 billion euros as US tariffs fuel costs
Overall sales from the company’s stores across 63 markets around the world fall for a second year in a row
Indonesian sovereign wealth fund Danantara bids US$1 billion for land at Mecca site: sources
If Danantara’s bid succeeds, it would mark the sovereign fund’s first overseas investment
Jack Dorsey-led Block's shares fall amid concerns over Square profitability
Shares of fintech Block fell 15.1 per cent in premarket trading on Friday, as investors balked at profit growth lagging volume increase at its payments unit, Square. Gross payments volume (GPV) for Square, which provides payments solutions to small- and medium-sized businesses, grew 12 per cent in t ...
European Commission, Shein to meet after French call for investigation
BRUSSELS :Representatives of the European Commission and Shein will meet on Friday, a spokesperson of the Commission said, after the French government called for an investigation into the Chinese e-commerce group due to the alleged sale of child-like sex dolls and banned weapons on its marketplace.T ...
Wall Street futures struggle for traction at end of wobbly week
U.S. stock futures struggled for traction on Friday, after a wobbly week for Wall Street amid concerns about the economy and sky-high valuations in the technology sector. The three main U.S. indexes ended sharply lower in the previous session, with the tech-heavy Nasdaq falling almost 2 per cent aft ...
Expedia shares jump on strong bookings from business clients
Shares of Expedia rose 15 per cent on Friday after the online travel agent forecast higher 2025 revenue and margin growth, banking on strong bookings from its business clients. The Seattle-based company reported that its B2B segment, which serves corporate travel management firms, offline travel age ...
UMS Q3 earnings rise 1% to S$10.5 million, announces 1-for-4 bonus issue
Tay Peck Gek - The board has also proposed a third interim dividend of S$0.01 per share
Japan to temporarily hike fuel subsidies to smooth tax cut impact
TOKYO: Japan's industry ministry said on Friday (Nov 7) it will temporarily raise gasoline and diesel subsidies from next week in an attempt to smooth the impact of planned tax cuts on the fuels.The country's ruling and opposition parties agreed this week to scrap the gasoline levy by Dec ...
UOB CEO Wee Ee Cheong purchases 150,000 shares at $33.757 per share after 3QFY2025 results
Nicole Lim - CEO of United Overseas Bank (UOB) Wee Ee Cheong has purchased 150,000 ordinary shares at $33.75783 per share on Nov 7, a day after the bank announced lower 3QFY2025 earnings. UOB reported a 72% y-o-y drop in net profit of $443 million for the third quarter of this year, which it attributed to making ...
Powermatic Data Systems shares up on special dividend
Lin Daoyi - Mainboar-listed Powermatic Data Systems, a designer and manufacturer of wireless connectivity devices, has announced a special interim dividend of 10 cents per share. Amounting to $3.5 million, the payout will be made from revenue reserves from prior financial years. The record date is Nov 17. In 1H ...
Uni-Asia Group to acquire Trident Star Vessel through special purpose vehicle for US$18.4 mil
Nicole Lim - Uni-Asia Group is acquiring the vessel Trident Star from Polaris through the special purpose vehicle it owns a shareholding in, for US$18.40 million ($23.97 million). Uni-Asia Group formed a special purpose vehicle with several parties on Oct 22 for the purpose of acquiring Trident Star Vessel. The ...
Cortina’s H1 profit rises 10% to S$30.5 million amid stronger regional sales
Low Youjin - Revenue from South-east Asia, excluding Singapore, rises 13% to S$201.6 million
Indian delivery platform Swiggy approves up to 100 billion rupees fundraise via QIP
Indian food and grocery delivery firm Swiggy on Friday said its board approved plans to raise up to 100 billion rupees($1.14 billion) via qualified institutional placement (QIP) as it seeks to shore up capital for growth.Companies use the QIP route to raise funds from large institutions such as mutu ...
JB Foods share price up 12.25% on better earnings guidance
Lin Daoyi - The board of directors of JB Foods has guided for a significant increase of its earnings for its six-month ended Sep 30. The guidance, issued after market closed on Nov 6, sent its share price up 12.25% higher to close at 55 cents on Nov 7. According to JB Foods, the higher earnings can be attribute ...
UMS Integration earnings up 1% y-o-y to $10.5 mil for 3QFY2025; proposes 1-for-4 bonus issue and third interim dividend
Nicole Lim - UMS Integration has reported earnings of $10.5 million for the 3QFY2025 ended Sept 30, up 1% y-o-y. For the 9MFY2025 period, earnings grew 4% y-o-y to $30.5 million. UMS Integration’s revenue for 3QFY2025 and 9MFY2025 came in 9% y-o-y lower and 5% y-o-y higher at $59.3 million and $184.3 million r ...
Indonesia to invest $22 billion in agricultural processing, minister says
JAKARTA :Indonesia plans to invest 371 trillion rupiah ($22 billion) in agricultural processing for several commodities in a bid to create eight million jobs, agriculture minister Amran Sulaiman said on Friday. Developing domestic processing is one of president Prabowo Subianto's top priorities ...
Daily Debrief: What Happened Today (Nov 7)
Stories you might have missed
Boustead bags design-and-build deal for semiconductor facility
Tay Peck Gek - The contract comprises additions and alterations works to reconfigure an existing chip material manufacturing plant
Singapore shares buck regional trend; STI up 0.2%
Navene Elangovan - Across the broader market, decliners outnumber advancers 318 to 233, after 1.3 billion securities worth S$2.2 billion change hands
Soon Hock Enterprise to dispose of property at 8 Kaki Bukit Avenue for $1.5 mil
Nicole Lim - Soon Hock Enterprise has announced the proposed disposal of the property located at 8 Kaki Bukit Avenue for a sale price of $1.5 million. The property is a leasehold property with a 60-year lease that commenced on Dec 15, 2010, and the purchaser of the property is not related to the directors of the ...
Vodafone, AST SpaceMobile to set up Europe-led satellite constellation
Vodafone and AST SpaceMobile on Friday unveiled plans to establish a Europe-led satellite constellation to provide satellite-to-smartphone connectivity for commercial and government applications.The constellation's European operational centre will be based in Germany, with potential sites near ...
Markets rise through shutdown fog but will it last?
Claressa Monteiro - Is AI all hype or the next big breakthrough? Howie Lim and Providend's Cheng Chye Hsern cut through the noise on AI’s...
‘Investors disappointed with UOB results could rotate into OCBC for a value play’, says Citi; analysts remain ‘neutral’
Felicia Tan - Shares in Oversea-Chinese Banking Corporation (OCBC) rose by some 4.4% to an intra-day high of $17.94, after the bank’s 3QFY2025 results surpassed expectations. The bank's shares closed 59 cents higher or 3.4% higher at $17.78 on Nov 7. For the three months ended Sept 30, group net profit sto ...
China starts work on easing rare earth export rules but short of Trump hopes
[BEIJING] China has begun designing a new rare earth licensing regime that could speed up shipments, but it is unlikely to amount...
