Malaysian developer Yong Tai aims to impress Chinese in Melaka
Pauline Ng -
WHICH public-listed company is best poised to capitalise on the booming Chinese tourist inflow into Malaysia?
ADB steps up lending operations to help meet massive infrastructure challenge
Anthony Rowley -
LENDING last year by the Asian Development Bank exceeded US$30 billion for the first time in the bank's 50-year history, as regional demand for infrastructure and other development funding continued to mount, the Manila-based ADB announced Tuesday in its latest annual report.
Nasdaq past 6,000 mark for first time
THE Nasdaq index breached the 6,000 mark for the first time on Tuesday, spurred by a raft of strong corporate earnings and President Donald Trump's promise of a major tax reform plan.
Japan's ruling party heavyweight to attend China's New Silk Road summit
THE secretary-general of Japan's ruling Liberal Democratic Party (LDP) said on Tuesday he will attend China's New Silk Road summit next month, a sign Prime Minister Shinzo Abe wants to improve ties with Beijing amid tensions over North Korea's missile and nuclear programmes.
Why Tokyo is moving to revive TPP even without the US
PRESIDENT Donald Trump spiked US participation in the Trans-Pacific Partnership (TPP) - a massive free trade pact five years in the making among countries representing 40 per cent of the world's economy - during his first days in office. But now Japan wants to bring the trade pact back from the dead, even if it means leaving Washington behind.
Consumer confidence falls; new home sales up
US consumer confidence fell from a more than 16-year high in April, but a surge in new home sales to an eight-month high last month suggested underlying strength in the economy despite an apparent sharp slowdown in growth in the first quarter.
Yokohama to be host city for 50th ADB annual meet
Ravi Gandhi -
JAPAN'S Yokohama will be the host city of the milestone 50th Asian Development Bank (ADB) annual meeting from May 4 to May 7, with the opening session of the ADB board of governors taking place on May 6.
Brexit could imperil UK's lead in AI
A GROUP of prominent academics and tech executives fear that the UK's exit from the European Union (EU) could jeopardise the UK's lead in the development of machine learning technologies.
Hotel industry using tech tools to draw guests
WHEN Lenette and Charlie Frye arrived recently at the Four Seasons in Orlando, Florida, for a two-night stay, they spotted an iPad loaded with the hotel's app that they could use to order food, call for their car or read about activities in the hotel.
Sina chief steers Weibo deeper into online lending waters
SINA Corp, the company behind what's known as China's Twitter, is preparing to compete with the country's web giants in online lending as the mobile market starts to slow.
JAB puts Jimmy Choo, Bally up for sale to focus on F&B operations
CARIBOU and Peet's coffee owner JAB put luxury shoemakers Jimmy Choo plc and Bally International AG up for sale as it focuses on the food and beverage operations that it has spent billions expanding in recent years.
French tycoon's LVMH to consolidate control over Dior
FRENCH billionaire Bernard Arnault moved to consolidate control over Christian Dior for about 12.1 billion euros (S$18.3 billion), folding the fashion house's operations into the LVMH luxury empire in one of his biggest transactions.
McDonald's profit beats as turnaround gains steam, shares at record high
Today - McDonald's Corp reported a better-than-expected rise in quarterly profit and U.S. same-restaurant sales on lower costs, all-day breakfast, $1 drinks and promotions on its popular Big Macs, signaling the company's plan to keep customers coming...
EU steel demand to grow more than 1% this year and next
[LONDON] European steel demand will rise more than 1 percent this year and next, extending last year's strong gains and with local steelmakers set to benefit from the growth thanks to anti-dumping measures, an industry group said on Tuesday.
Exclusive: GE in talks with Irish firm on Chilean wind venture - sources
Today - SANTIAGO - General Electric Co is in talks with an independent energy producer to make a significant move into wind power in Chile, two people with knowledge of the process told Reuters, as the conglomerate expands its global renewable...
EU tightens Brexit demands on residence, banks
[BRUSSELS] European Union leaders will insist Britain grant permanent residence to EU citizens who arrive before Brexit in 2019 and stay five more years, according to a draft negotiating plan they will endorse this weekend.
JDE acquires 98% of Super by close of offer, will delist 3-in-1 coffee maker
Today - SINGAPORE - Dutch coffee & tea giant Jacobs Douwe Egberts (JDE) has garnered more than 98 per cent of Super Group by the close on Tuesday (April 25) of its S$1.45 billion takeover offer for the homegrown company best known for its 3-in-1 instant...
Citigroup shareholder meeting briefly interrupted by protesters
Today - NEW YORK - The Citigroup Inc annual shareholder meeting was briefing interrupted by protesters beating a drum and calling for divestitures from resource extraction businesses.
Citigroup Chairman Mike O'Neill and Chief Executive Mike...
Indian farmers should pay tax, adviser says, challenging government
[NEW DELHI] A senior adviser to the Indian government proposed on Tuesday that farmers pay tax, in remarks that challenged government policy in a country of 1.3 billion people where there are only 37 million income tax payers.
US consumer confidence slips
[WASHINGTON] US consumer confidence fell from a more than 16-year high in April, but a surge in new home sales to an eight-month high last month suggested underlying strength in the economy despite an apparent sharp slowdown in growth in the first quarter. The economy's healthy fundamentals were also underscored by other data on Tuesday showing the biggest year-on-year increase in house prices in 2-1/2 years in February.
US new home sales see fastest pace in 8 months
[WASHINGTON] Sales of new homes in the United States forged higher for the third straight month in March, hitting the fastest pace since July, the Commerce Department reported on Tuesday.
Seventeen years after 5,000, Nasdaq tops 6,000
Today - NEW YORK - The Nasdaq Composite index crossed the 6,000 threshold on Tuesday, aided by gains in a handful of large-cap tech names, more than seventeen years after it last marked a 1,000 point milestone.
The Nasdaq index first...
Consumer confidence slips; new home sales hit eight-month high
Today - WASHINGTON - U.S. consumer confidence fell from a more than 16-year high in April, but a surge in new home sales to an eight-month high last month suggested underlying strength in the economy despite an apparent sharp slowdown in growth in the first quarter.
Jebsen & Jessen chairman Heinrich Jessen named Businessman of the Year at Singapore Business Awards
Nisha Ramchandani -
FOR his role in transforming Jebsen & Jessen (Southeast Asia) into a regional powerhouse, chairman Heinrich Jessen has been named Businessman of the Year at the Singapore Business Awards (SBA).
US:Nasdaq hits 6,000 for 1st time
[NEW YORK] Wall Street stocks rose again Tuesday, with the Nasdaq climbing above 6,000 for the first time and the Dow gaining following a series of mostly strong earnings from blue-chip companies.
U.S. home prices rise faster than expected in February
Today - NEW YORK - U.S. single-family home prices accelerated at a faster pace than expected in February, supported by a low inventory of housing stock, a survey showed on Tuesday.
The S&P CoreLogic Case-Shiller composite index of 20 metropolitan...
EU lawmakers vote to make YouTube fight online hate speech
[BRUSSELS] Video-sharing platforms such as Google's YouTube and Vimeo will have to take measures to protect citizens from content containing hate speech and incitement to violence under measures voted by EU lawmakers on Tuesday.
Ecuador gives Schlumberger $150 mln in notes to settle part of debt
Today - QUITO - Ecuador has given oil services company Schlumberger NV $150 million in central bank notes that can be used to pay taxes, President Rafael Correa said late on Monday, part of efforts to pay down a $1.1 billion debt with the company.
Wall Street set to open higher as earnings take center stage
Today - U.S. stocks were on track to open higher on Tuesday, building on a day-earlier rally, spurred by a raft of strong corporate earnings and an expected tax reform plan.
Better-than-expected quarterly profits from Dow components, including...
Akzo Nobel backs its chairman, still studying PPG offer
Today - AMSTERDAM - The chairman of Dutch paint-maker Akzo Nobel, Antony Burgmans, told shareholders at their annual meeting that the company is not yet ready to respond to a 26.9 billion takeover proposal by U.S. peer PPG Industries .
Tyson Foods to buy AdvancePierre for US$3.2 b
[ARKANSAS] Tyson Foods Inc, the No 1 US meat processor, said on Tuesday it would buy packaged sandwich supplier AdvancePierre Foods Holdings Inc for about US$3.2 billion in cash, to expand its fast-growing portfolio of prepared foods.
Tampines Ave 10 housing site gets S$370.1 million top bid from CDL unit
Today - SINGAPORE - A private residential site along Tampines Avenue 10 attracted nine bids from developers, with a City Developments (CDL) unit submitting the top bid of S$370.1 million, Urban Redevelopment Authority data showed after the close of tender on Tuesday...
Lockheed Martin's quarterly revenue up 6.6 percent
Today - Lockheed Martin Corp , whose F-35 fighter jet program has been under presidential spotlight for being too expensive, posted a 6.6 percent rise in quarterly sales, helped by strength in its aeronautics division that makes fighter jets.
Post-it maker 3M's quarterly profit rises 3.8 percent
Today - 3M Co , which makes Scotch tape and Post-it notes, reported a 3.8 percent rise in quarterly profit, helped by strong growth in Asia and Latin America.
Net income attributable to the company rose to $1.32 billion, or $2.16 per...
DBS/POSB launches video teller machines with ‘face-to-face’ service
Today - SINGAPORE - DBS rolled out Singapore's first video teller machines (VTM) across nine locations islandwide on Tuesday (April 25), to provide round-the-clock branch banking services to DBS and POSB customers.
With the VTMs which provide privacy within...
Coca-Cola's profit misses as refranchising costs weigh
Today - Coca-Cola Co reported a smaller-than-expected quarterly profit due to higher costs related to refranchising its North America bottling operations.
The company is offloading much of its low-margin bottling business to cut costs amid...