Dollar slips after Fed cuts rates
NEW YORK : The U.S. dollar fell against the euro on Wednesday, after the Federal Reserve cut interest rates by a quarter of a percentage point and indicated it will steadily lower borrowing costs for the rest of this year.The euro was 0.2 per cent higher against the dollar at $1.1894, while the gree ...
Dollar edges up from four-year low versus euro as traders await Fed decision
NEW YORK : The dollar edged higher against the euro on Wednesday, rebounding from a four-year low hit in the previous session, as investors awaited a widely expected Federal Reserve interest rate cut later in the day.Major currency pairs held to tight ranges, with traders reluctant to take big posit ...
Dollar rises from four-year low versus euro; Powell remarks in focus
The U.S. dollar firmed against the euro but weakened versus the yen on Wednesday as investors waited to see whether Federal Reserve Chair Jerome Powell would confirm market expectations for a dovish policy path at a press conference later in the day.The dollar fell to a four-year low against the com ...
Dollar rises from 4-year low versus euro; Powell remarks in focus
The U.S. dollar rose on Wednesday as investors waited to see whether Federal Reserve Chair Jerome Powell would back market expectations for a dovish policy path at his press conference later in the day.The dollar fell to a four-year low against the euro on Tuesday, as investors turned their attentio ...
Foxconn Interconnect's Saudi JV to start building Middle East factory in December
TAIPEI : Foxconn Interconnect Technology's Saudi Arabian joint venture will start building its first manufacturing base in the Middle East in December, which will make electric vehicle chargers, the company said on Wednesday. The new factory is expected to begin production in 2026, FIT chairm ...
Foxconn Interconnect's JV to start building Middle East factory in December
TAIPEI : Foxconn Interconnect Technology's Saudi Arabian joint venture will start building its first manufacturing base in the Middle East in December, which will make electric vehicle chargers, the company said on Wednesday. FIT, a unit of Taiwan's Foxconn that makes components used for ...
OCBC aims to provide social loans to 10,000 women entrepreneurs by 2030, up from 2,000 now
Renald Yeo - The programme in Indonesia, Singapore, Hong Kong and Malaysia offers financing to women-led startups within their first two years of incorporation
Ben & Jerry's co-founder resigns citing loss of independence under Unilever
Jerry Greenfield says the Vermont-based company has lost its independence since UK parent Unilever curtailed its social activism
AVPN’s social investing platform ImpactCollab launches Outcomes Marketplace with Temasek Trust’s Tri-Sector Associates
Jovi Ho - What if donors could pay for the intended social outcomes of their charitable giving, instead of simply funding the projects involved with little evidence surrounding the results? AVPN, the largest network of social investors in Asia, launched on Sept 9 the latest phase of its outcomes-based social ...
Stellantis to recall nearly 164,000 US vehicles over risk of detached door trim pieces
Stellantis is recalling nearly 164,000 Jeep vehicles in the U.S. due to issues causing a possible detachment of the trim on the driver and passenger doors, the U.S. National Highway Traffic Safety Administration said on Wednesday.The recall covers certain Chrysler Jeep Wagoneer and Jeep Grand Wagone ...
Stellantis to recall nearly 164,000 US vehicles over risks of detached door trim pieces
Stellantis is recalling nearly 164,000 Jeep vehicles in the U.S. due to installation issues of the trim on the driver and passenger doors, which can cause it to detach, the U.S. National Highway Traffic Safety Administration said on Wednesday.
Scam mules to be restricted from banking, phone and Singpass services from October
Shikhar Gupta - MAS, IMDA, GovTech and Singapore police to implement new measures
Former Hyflux legal officer unaware of power plant in bid for Tuaspring project
Tay Peck Gek - Prosecution and defence also trade allegations over disclosure of e-mails
Former Hyflux legal officer not aware of power plant in bid for Tuaspring project
Tay Peck Gek - Prosecution and defence also trade allegations over disclosure of e-mails
STMicro to invest $60 million in French plant facing restructuring
Chipmaker STMicroelectronics on Wednesday announced a $60 million investment for its plant in Tours, France, where it plans to develop a pilot line for advanced semiconductor manufacturing technology.The Franco-Italian firm said it will develop the next generations of an advanced process at the plan ...
The battle for Armani: Who will take over the designer’s empire?
Giorgio Armani’s will outlined hopes for one of three European giants to buy into his fashion group. But a deal may prove complex.
Del Monte Pacific gets Philippine Stock Exchange suspension after annual report non-submission
Therese Soh - DMP did not meet the PSE’s extended deadline “due to the same reasons disclosed by the company (when) requesting the extension”, the...
Openspace Ventures rebrands as Openspace Capital, launches two new funds
Benjamin Cher - The equity growth offering seeks to tap MAS’ EQDP, while the private credit strategy presents companies with more options for capital
BMW to start iX3 production at plant in Hungary's Debrecen from next month
BERLIN :German luxury carmaker BMW will start series production of its iX3 electric model at a new plant in Debrecen, Hungary from the end of next month, the company said in a statement on Wednesday.With the iX3, BMW hopes to reclaim lost ground in the EV race with Chinese rivals.Capacity for the ne ...
PostNL's ambitious growth target for 2028 sends shares surging in Amsterdam
PostNL shares jumped on Wednesday after the Dutch postal operator revealed a strategy for significant earnings growth by 2028 aimed at reversing years of missed targets though some analysts were uncertain whether the company could deliver.The turnaround effort, to be supported by investment and rest ...
PostNL unveils 2028 strategy, splits parcels into e-commerce, platforms
PostNL unveiled its new strategy on Wednesday during its Capital Markets Day, announcing that its current Parcels segment will be divided into E-commerce and Platforms from January 1, 2026, as part of its efforts to foster sustainable growth and innovation.The company plans to invest around 150 mill ...
Thai industrial sentiment hits 3-year low in August on politics, strong baht
BANGKOK :Thailand's industrial sentiment index fell to its lowest level in three years in August on worries about domestic political uncertainty, a strong baht currency and U.S. tariffs, the Federation of Thai Industries said on Wednesday.After falling for the past six months, the FTI said sent ...
Agoda axes 50 Singapore staff; denies it warned affected staff against reporting to government agencies
Chloe Lim - A document to affected staff notes that reports to MOM and Tafep would revoke their entitlement to severance benefits
Agoda axes 50 Singapore staff; warns them not to report to govt agencies or lose their severance pay: sources
Chloe Lim - A document to affected staff notes that reports to MOM, Tafep will revoke their entitlement to severance benefits
Hong Kong allows cheaper home purchases for investment visas
Shawna Kwan / Bloomberg - Hong Kong is lowering its threshold for home purchases by people applying for an investor visa to bolster the city’s property market. Applicants for the New Capital Investment Entrant Scheme can purchase a residential property valued at HK$30 million ($4.9 million) or above, Chief Executive John L ...
Nissan seeks to learn from Chinese supplier strategies as part of cost-cutting drive
YOKOHAMA, Japan :Nissan Motor is studying the cost competitiveness of Chinese suppliers and exploring ways to apply their practices globally, as it aims to cut variable costs by 250 billion yen ($1.71 billion) in a broad efficiency drive, a senior executive said.Tatsuzo Tomita, Nissan's chief o ...
Hong Kong to speed up development of border tech hub, John Lee says
Absent bold new measures, the city’s housing market is likely to remain under pressure, with home values hovering near their lowest since...
Pace of carbon tax increase will likely depend on state of economy, SMEs: Janil Puthucheary
Tan Nai Lun - Singapore’s carbon tax on companies that emit at least 25,000 tonnes of greenhouse gas annually is currently set at S$25 per tonne
UOBKH keeps ‘sell’ on SIA at upgraded $6.05 target price, weaker 2QFY2026 expected on Air India drag
Douglas Toh - Singapore Airlines (SIA) group’s passenger (pax) load rose 5.4% y-o-y data in August, reaching 103.8% of pre-pandemic levels and outpacing the pax capacity growth of 2.7% y-o-y. With demand for air travel remaining robust across all regions, pax load factor improved 2.3 percentage points (ppts) y- ...
Shell adjusts retail staffing amid shortages at Indonesian petrol stations
JAKARTA :Shell said it is adjusting operational hours and staffing levels at some of its gas stations in Indonesia as a result of supply shortages, as the government insisted they would not be granted extra import quotas and should source fuel from the state-run Pertamina.Shell and BP-AKR, the opera ...
EU business lobby head says China rare earths snag persists
EUROPEAN firms still face challenges in securing access to crucial rare earths from China, a business lobby warned on Wednesday, despite a...
India’s gaming fans eye illegal sites after gambling ban
[MUMBAI] India’s ban on online gambling has shuttered a billion-dollar industry serving hundreds of millions of people and torpedoed the sponsorship of...
MAS and HKMA ink MOU on banking supervisory cooperation
Jovi Ho - The Monetary Authority of Singapore (MAS) and the Hong Kong Monetary Authority (HKMA) have exchanged a memorandum of understanding (MOU) on banking supervisory cooperation. According to a Sept 17 announcement, MAS and HKMA have been collaborating on banking supervision “closely over the years”. ...
China lifts exit ban on Wells Fargo banker amid US trade talks
The Asian nation’s use of exit bans has been a point of contention between Beijing and Washington
