Morning Bid: Seoul-sapping selloff
March 4 - What matters in U.S. and global markets todayBy Mike Dolan, Editor-At-Large, Finance and MarketsThe ongoing Middle East eruption shocked Asia's stock markets on Wednesday, with South Korea's Kospi plummeting 12 per cent for its worst day ever and Japan's Nikkei and Taiwan� ...
Turkey expects annual minimum $96 million from crypto asset tax
ANKARA, March 4 : A draft law currently at the Turkish parliament is expected to generate at least 4.2 billion lira ($95.58 million) tax income from a levy on crypto assets, according to its impact analysis.The law will generate more tax income from crypto assets but this amount cannot currently be ...
Marco Polo Marine raises S$21 million in private placement for business expansion
Therese Soh - The capital injection enhances its balance sheet and provides financial flexibility for growth initiatives, says the group
Trump to meet tech giants on energy pledge ahead of midterms
March 4 : U.S. President Donald Trump is set to meet on Wednesday with leaders of major technology companies, including Google, Meta and OpenAI, to formalize a pledge aimed at protecting consumers from rising electricity costs tied to the rapid expansion of energy‑intensive data centers.The White ...
Fitch cuts Indonesia credit rating outlook to negative
JAKARTA, March 4 : Fitch Ratings on Wednesday cut Indonesia's credit rating outlook to negative from stable, citing increasing uncertainty and reduced credibility in policymaking, in a move that will add to investor concerns about Southeast Asia's largest economy.Fitch became the second ra ...
AIMS APAC REIT sells 8 Senoko South Road to tenant Sin Hwa Dee for $15 mil
The Edge Singapore - AIMS APAC REIT plans to sell an industrial property at 8 Senoko South Road to Sin Hwa Dee Foodstuff Industries for $15 million, which is a premium of 11.1% premium over the latest valuation as of Feb 28. As indicated on Sin Hwa Dee's website, 8 Senoko South Road is the address of the homegrown ...
Stellantis, Toyota, Subaru not in Tesla carbon pool for 2026, EU filing shows
MILAN, March 4 : Stellantis Toyota and Subaru have not signed up to the current year's carbon‑credit 'pool' led by Tesla which is designed to help carmakers meet the European Union's carbon emissions targets, an EU filing showed.Brussels had initially planned hefty fines for au ...
Iran war: Markets bet on brief conflict, but analysts warn of wider risks
Experts also warn that closure of the Strait of Hormuz would hit energy-intensive Asian economies hardest.
OCBC chief Tan Teck Long’s new strategy is a masterstroke, but execution risks abound
Jude Chan - While his ‘Next Frontier’ plan looks good on paper, it must survive contact with operational reality
Japan reactor restarts help fuel record nuclear sales at Mitsubishi Heavy
TOKYO, March 4 : Nuclear reactor restarts in Japan will lift sales at Mitsubishi Heavy Industries' (MHI) nuclear power unit to a record 400 billion yen ($2.54 billion) next business year, well ahead of earlier forecasts, the company's chief financial officer said."Originally, we were ...
Marco Polo Marine raises $21 mil via placement of shares at 14.5 cents each
The Edge Singapore - Marco Polo Marine has raised gross proceeds of $21 million from a placement of nearly 144.9 million new shares at 14.5 cents each. The placement, managed by Maybank Securities, drew institutional investors Areca Capital, Asdew Acquisitions, Astral Value Fund VCC, Evolve Capital Management, Ginko-AGT ...
AI may be creating instead of destroying jobs for now, ECB blog argues
FRANKFURT, March 4 : The increasing use of artificial intelligence by firms may be creating some jobs in the euro zone rather than destroying them as many fear, a European Central Bank blog post argued on Wednesday. Economists have been debating whether AI could put white collar staff out of work, a ...
Singapore announces maritime sector master plan to chart industry’s long-term progress
Derryn Wong - It will launch in 2027; outlines strategy for strengthening the maritime hub, boosting competitiveness and growth
Alibaba’s Qwen AI division head becomes latest exec to leave this year
Lin’s exit comes two days after Qwen released updated products
Fitch cuts Indonesia outlook to negative on policy, fiscal concerns
Elisa Valenta - The Fitch outlook revision follows earlier warnings from MSCI and an outlook downgrade by Moody’s
Singapore to review COE categories for cars: Jeffrey Siow
Derryn Wong - This will include proposals to apply discounts or surcharges based on a car’s open market value
Every HDB town to get EV fast-charging hub by end-2027; autonomous shuttles open to public from April
Derryn Wong - Each hub will have at least six fast-chargers capable of 50 kW output; commercial operation of Punggol’s AV to begin mid-2026 at...
Singapore stocks fall as Iran war weighs on Asian markets; STI down 2.1%
Jude Chan - Across the broader market, losers outnumber gainers 564 to 172, after 2.4 billion securities worth S$3.6 billion change hands
Singapore stocks fall as Iran war cripples Asian markets; STI down 2.1%
Jude Chan - Across the broader market, losers outnumber gainers 564 to 172, after 2.4 billion securities worth S$3.6 billion change hands
Chinese bank halts Abu Dhabi loan as creditors cut Middle East risk
Regulators and Chinese banks rethink lending as Iran crisis reshapes strategy
Hong Kong January retail sales rise 5.5% on sustained recovery momentum
HONG KONG, March 4 : Hong Kong's retail sales in January rose 5.5 per cent by value from a year earlier for a ninth month of gains, government data showed on Wednesday, as the momentum of economic recovery continued in the new year.Sales increased to HK$37.3 billion ($4.77 billion). In December ...
Beauty salon sues Hao Mart over alleged breach of Taste Orchard sublease; Hao Mart denies liability for purported losses
Tay Peck Gek - Beauty salon operator Belovie is the first sub-tenant to sue Hao Mart in the High Court
Adidas expects operating profit to rise to 2.3b euros in 2026
It expects to grow at a low-double-digit rate in North America and Greater China
Jurong Region Line’s first stage completion delayed by six months to mid-2028
Derryn Wong - More time is needed to complete works safely, says LTA; interim bus services will be introduced
Chinese banks halt Abu Dhabi loan as creditors cut Mideast risk
Bloomberg - Several Chinese financial firms are scaling back exposure to Middle Eastern debt, while regulators are stepping up oversight as the conflict raises concerns over the nation’s extensive lending in the region. One major bank took a rare step in restricting a drawdown on a bilateral loan to one of th ...
Bayer’s profit guidance falls short of expectations
It forecasts an Ebitda between 9.1 billion and 9.6 billion euros, below analyst consensus of 9.67 billion euros
Exclusive-Walmart-backed PhonePe targets up to $10.5 billion valuation in India IPO, sources say
MUMBAI, March 4 : Walmart-backed Indian fintech firm PhonePe, the country's most used payments platform, is aiming to list at a valuation of between $9 billion and $10.5 billion, two people with direct knowledge of the matter said.That suggests the IPO will raise about $900 million to $1.05 bil ...
COSCO Shipping suspends bookings for Middle East routes amid conflict
BEIJING, March 4 : Chinese shipping and logistics conglomerate COSCO Shipping's container liner unit said on Wednesday it had suspended all new bookings for routes to and from ports in the Middle East region, including those in the United Arab Emirates and Saudi Arabia.The move was due to escal ...
Luckin Coffee backer Centurium in advanced talks for Nestle’s Blue Bottle: sources
The buyout firm is putting the final touches on the deal
Redas, NUS programme to grow real estate pipeline through internships and traineeships
Jovi Ho - Over 50 internship opportunities have been committed as part of a new real estate talent programme by the Real Estate Developers’ Association of Singapore (Redas) and the National University of Singapore (NUS), according to Redas president Tan Swee Yiow. These roles span various functions, includi ...
Government to tender 37 Emerald Hill for heritage-inspired redevelopment
Jovi Ho - The government will launch a tender in the coming months for the 1.05ha site at 37 Emerald Hill, the former site of the Singapore Chinese Girls’ School (SCGS). The tender will be for a mixed-use development featuring “unique” hotel concepts, lifestyle offerings and community and public spaces ...
‘Stunning’ 4.1% rise in land betterment charge for non-landed residential is highest since Sept 2022
Jovi Ho - The Singapore Land Authority (SLA) has revised the Land Betterment Charge (LBC) rates for five of the nine use groups for the period March 1 to Aug 31, with the tax on non-landed residential (use group B2) rising 4.1% — the biggest jump since September 2022’s 12.9% increase. The “stunning” 4 ...
New web tool for developers to estimate land betterment charges upfront
Jovi Ho - A new online tool now gives developers more clarity when calculating the land betterment charge (LBC) payable for development proposals. The LBC is a tax on enhancement in land value. Launched on Feb 27, the LBC estimator is integrated into the Singapore Land Authority’s (SLA) OneMap portal and al ...
‘Mr Lufthansa’ taps crisis playbook to tackle costs, union battles
Carsten Spohr is focused on efficiencies, centralising management of the group’s 12 airlines and betting on more long-haul flights in the year...
