Citigroup hires ex-Nomura veteran Kiyota, insider Nagasaka as Japan co-heads for investment banking
Citigroup Inc has hired veteran investment banker Akira Kiyota from Nomura Holdings Inc and promoted insider Taiji Nagasaka as co-heads of investment banking for Japan, it said on Tuesday. The appointments, effective October 1, underscore a push by Wall Street banks to expand their presence in Japan ...
Singapore’s semiconductor production gets boost with gallium nitride fabrication facility
The National Semiconductor Translation and Innovation Centre for Gallium Nitride will offer companies research and development services as well as wafer fabrication.
BNP Paribas completes 5.1 billion-euro acquisition of AXA Investment Managers
The acquisition allows BNP to manage long-term savings for insurers and pension funds with around 850 billion euros in assets
Civmec completes acquisition of shipbuilder Luerssen Australia for A$20 mil
Nicole Lim - Civmec Limited has completed the acquisition of all the shares in shipbuilder Luerssen Australia, for A$20 million ($16.74 million). Civmec says that this acquisition strengthens its role in Australia’s naval shipbuilding sector by bringing Luerssen’s operations, workforce and assets under full ...
Market Focus Daily: Tuesday, July 1, 2025
Emily Liu - Asian stocks rise on trade deal hopes; Trump threatens Japan with more tariffs over rice imports; US dollar tumbles to 50-year low...
SATS to support over 700 employees with new re-employment policy
Douglas Toh - Global aviation cargo and ground handler SATS Group (SATS) will raise the age of retirement to 64 and the age of re-employment to 69 for employees based at its Singapore headquarters. The policy will take effect immediately to keep a year ahead of the Singapore government's scheduled legislativ ...
No compulsory financial advice needed for most retail investors under proposed MAS changes
Ranamita Chakraborty - With a set of tweaks, the regulator hopes to balance between giving autonomy and protecting those putting money into investment products
MAS proposes to improve complex product labelling and disclosures for investors
Ranamita Chakraborty - The move signals the regulator is aiming to strike a balance between investor autonomy and appropriate safeguards
New BOJ board member warns against rushing into rate hikes
TOKYO :The Bank of Japan should not rush into raising interest rates given various economic risks, its new board member Kazuyuki Masu said on Tuesday, reinforcing market views that U.S. tariffs will keep the central bank in a holding pattern for the time being.While the initial gloom over the hit fr ...
BOJ should not rush into raising rates, new board member Masu says
TOKYO :The Bank of Japan's new board member, Kazuyuki Masu, said on Tuesday the central bank should not rush into raising interest rates, given various risks surrounding the economy."It's true real interest rates are negative. But given recent economic developments, the BOJ shouldn� ...
Dubai aims to beat the traffic with 2026 Joby air taxi liftoff
DUBAI :Dubai commuters may soon have a new way to skip traffic: air taxis. Joby Aviation conducted the first test flight of its fully-electric air taxi in the emirate this week, a major milestone in the city's efforts to integrate airborne transport into existing mobility networks as early as ...
Two Chinese chip firms plan 12 billion yuan IPOs, bet US export curbs to spur growth
Developing domestic chip champions has become increasingly urgent for Beijing, as the US tightens export restrictions
MAS proposes enhanced product highlight sheets, streamlined complex products framework
Douglas Toh - Investment-linked policies (ILPs) will now require a product highlights sheet (PHS), and the Monetary Authority of Singapore (MAS) has proposed to remove a requirement for investors to seek mandatory financial advice when purchasing “complex products”. These are part of a slew of measures announ ...
US Senate strikes AI regulation ban from Trump megabill
WASHINGTON :The Republican-led U.S. Senate voted overwhelmingly on Tuesday to remove a 10-year federal moratorium on state regulation of artificial intelligence from President Trump's sweeping tax-cut and spending bill.Lawmakers voted 99-1 to strike the ban from the bill by adopting an amendmen ...
US Senate strikes AI regulation ban passage from Trump megabill
WASHINGTON: The Republican-led US Senate voted overwhelmingly on Tuesday (July 1) to remove a 10-year federal moratorium on state regulation of artificial intelligence from President Trump's
Prudential commences third tranche of US$2 billion share buyback scheme
Therese Soh - The insurer plans to repurchase and cancel some 150 million shares between Jul 1 and Dec 24 to reduce its issued share...
Italy's Leonardo takes a stake in Finland's SSH as European defence M&A inches forward
HELSINKI :Italy's Leonardo will buy a 24.55 per cent stake in Finland's SSH to expand its cybersecurity business, the companies said on Tuesday, in a sign of some progress in European defence consolidation and cooperation.The deal will see the Italian aerospace and defence group become SSH ...
Italy's Leonardo becomes biggest shareholder of Finland's SSH with stake purchase
HELSINKI :Italy's Leonardo will buy a 24.55 per cent stake in Finland's SSH, making it the latter's biggest shareholder as it expands its cyber security business with this new strategic partnership, the companies announced on Tuesday.The Italian aerospace and defence group sees cyber ...
CapitaLand Development and UOL granted green light to acquire Thomson View property
Douglas Toh - CapitaLand Development and UOL Group have been granted the sale order by the high court of Singapore for the acquisition of Thomson View Condominium for a proposed amount of $810 million. Completed in 1987, Thomson View is a 255-unit, private condo on Bright Hill Drive. It sits on a 504,314 square f ...
CapitaLand Development granted green light to acquire Thomson View property
Douglas Toh - Joint-venture (JV) between CapitaLand Group and UOL Group, CapitaLand Development (CLD), has been granted the sale order by the high court of Singapore for the acquisition of Thomson View Condominium for a proposed amount of $810 million. Completed in 1987, Thomson View is a 255-unit, private condo ...
Chip-design firm SkyeChip is close to a Malaysian IPO, CEO says
The company has seen 30% revenue growth every year, and a 30% net profit margin
Asian currencies to party on in 2025 as US dollar tumbles to 50-year low
Goh Ruoxue - The greenback is reeling from a double-digit slump against a basket of major currencies. It is worst first-half performance in decades
Asian currencies to party on in 2025 as US dollar drops to 50-year low
Goh Ruoxue - The greenback is reeling from a double-digit slump against a basket of major currencies. It is worst first-half performance in decades
US dollar tumbles to 50-year low in H1, paving way for Asian FX gains
Goh Ruoxue - The greenback is reeling from a double-digit slump (against a basket of several major currencies) that marks its worst first-half performance in decades
Xiaomi's YU7 car buyers face year-long wait for delivery, sparking complaints
SHANGHAI: China's Xiaomi is telling customers of its new YU7 electric sports utility vehicle they will have to wait more than a year to receive their cars, sparking a fresh wave of complaints against the company. The smartphone turned EV maker said it received roughly 240,000 orders for the YU7 ...
Standard Chartered Bank faces US$2.7 billion lawsuit in Singapore over alleged role in 1MDB fraud
KUALA LUMPUR: Liquidators seeking to recoup misappropriated funds from Malaysia's sovereign wealth fund 1Malaysia Development Berhad (1MDB) have filed legal proceedings against Standard Chartered Bank in Singapore over the bank's alleged role in enabling fraud that led to over US$2.7 billi ...
Blow for Thailand’s government as court suspends PM from duty
Deputy Prime Minister Suriya Juangroongruangkit will take over in a caretaker capacity
Thai court suspends PM from duty pending case seeking her dismissal
Deputy Prime Minister Suriya Juangroongruangkit will take over in a caretaker capacity
US startup Lyten to take over Northvolt's energy storage systems factory in Poland
WARSAW :Silicon Valley startup Lyten will take full ownership of Northvolt Dwa ESS, Europe’s largest energy storage systems factory, in a move to expand its product line, the U.S. company said on Tuesday. Northvolt filed for bankruptcy in March, one of Sweden's largest corporate failures and ...
KKR acquires Finexis Advisory with launch of new firm-focused platform
Douglas Toh - Private investment firm KKR will be acquiring Finexis Advisory and its affiliates through its new financial advisory platform, Ascend Asia Financial Services Group (Ascend Asia). The move marks KKR’s latest investment in Singapore, whose current portfolio includes lifestyle and wellness company V3 ...
As Microsoft Exchange 2016 and 2019 sunset, how can privacy-conscious organisations future-proof their email?
Synology - As major productivity solution providers continue to adjust their plan offerings, many organisations are grappling with sudden shrinking plan options, rising costs, and the phase-out of long-standing services. With Microsoft Exchange Server 2016 and 2019 reaching end-of-support in October 2025, IT t ...
Top Thai court suspends PM Paetongtarn in ethics violation case
Patpicha Tanakasempipat / Bloomberg - Thailand’s constitutional court has temporarily suspended prime minister Paetongtarn Shinawatra from office until it rules on a petition seeking her ouster for alleged ethical violations — the biggest blow yet to her less-than one-year-old government. Paetongtarn’s powers will be suspended fro ...
From banks to tech: Job cuts and layoffs for 2025
Bryan Cheong - Asia is not spared, with Standard Chartered and Procter & Gamble reviewing roles in Singapore
Two Chinese chip firms plan US$1.7 billion IPOs, bet US export curbs to spur growth
BEIJING: Two Chinese artificial intelligence chip startups are seeking to raise a combined 12 billion yuan (US$1.65 billion) in initial public offerings, hoping US curbs on advanced chip sales to China will boost local demand for their products, their filings show. Beijing-based Moore Threads plans ...
