IMF upgrades Asia's growth forecast, warns of risks
WASHINGTON :The International Monetary Fund revised up Asia's economic growth forecast on Thursday, but warned of risks to the outlook from trade policy uncertainty and geopolitical tensions.Economic activity in the Asia-Pacific was holding up better than expected in April, despite the region b ...
China 'firmly opposes' Dutch takeover of semiconductor manufacturer Nexperia
BEIJING: Beijing said on Thursday (Oct 16) it "firmly opposes" the Dutch government's seizure of Chinese-owned chipmaker Nexperia, arguing that the takeover "violates the spirit of contractual agreements and market principles".Officials in the Netherlands invoked a Cold War- ...
Lyft to open Toronto tech hub, deepening push beyond US market
Lyft plans to open a new technology hub in downtown Toronto in the second half of next year, making the city its second-largest tech center after San Francisco, the ride-hailing firm said on Thursday.The office will be located in Toronto's financial district and will host several hundred employ ...
Microsoft launches new AI upgrades to Windows 11, boosting Copilot
Microsoft on Thursday rolled out a series of artificial intelligence upgrades to Windows 11 that would make its Copilot AI assistant more appealing to users by making it easier to automate tasks and connect with services across devices.Users can now use the wake word "Hey Copilot" to activ ...
UOL Group-led consortium wins bid for Dorset Road land parcel
Nicole Lim - A consortium led by UOL Group, which submitted the highest bid of $524.3 million for a tender at Dorset Road, has been awarded the tender by the Urban Redevelopment Authority (URA). The consortium, made up of a 60:20:20 joint venture between UOL, SingLand and Kheng Leong, submitted their bid for the ...
Thales says it has no satellite deal yet with Airbus, Leonardo after report that signing is near
FRANKFURT :France's Thales said on Thursday that the work to form a European satellite alliance with Aircraft maker Airbus and Italy's Leonardo was ongoing, responding to a media report that an agreement in principle had been found.German newspaper Boersen-Zeitung reported on Thursday that ...
Chinese data centre firm GDS aims to raise over US$1 billion for international unit DayOne: sources
GDS is aiming to build up DayOne into an independently run and separately listed unit in the mid to long term
Turkcell, Turk Telekom, Vodafone win frequencies in Turkey's $2.95 billion 5G tender
ANKARA :Turkey's 5G spectrum tender drew a total of $2.95 billion in winning bids on Thursday, with the country's major operators Turkcell, Vodafone and Turk Telekom securing key blocks across the 700 MHz and 3.5 GHz frequency ranges.Turkcell placed the highest bid of $429 million for the ...
Fintech Upgrade raises $165 million, targets IPO in 12 to 18 months
Consumer finance fintech Upgrade said on Thursday it raised $165 million in its latest funding round, nearly four years after its last external financing during the height of the 2021 fintech boom.The round valued Upgrade at $7.3 billion pre-money, according to a source familiar with the matter, a 2 ...
Salesforce jumps as $60 billion forecast eases revenue growth concerns
Salesforce shares jumped more than 6 per cent in premarket trading on Thursday, after the company forecast faster revenue growth in the coming years, easing concerns that AI tools were eroding demand for its software.The Marc Benioff-led company had posted its first revenue decline in about three ye ...
India's Infosys narrows annual revenue growth forecast
BENGALURU :India's second-largest software services exporter Infosys narrowed its revenue growth forecast for the year on Thursday to 2 per cent-3 per cent from 1 per cent-3 per cent, even amidst slowing demand in a challenging macroeconomic environment.The company reported second-quarter reven ...
India's IT sector shows signs of demand recovery as clients warm up to AI projects
BENGALURU :Indian IT firms Infosys, Wipro and LTIMindtree beat estimates for quarterly revenue on Thursday and pointed to improving demand in the back half of the year as clients show more willingness to fund AI projects.Their upbeat results follow a strong showing by market leader Tata Consultancy ...
Property cooling measures to ‘stay for a while’ with Singapore market buoyant: UOB
Chong Xin Wei - Underlying demand drivers include rising income and household formation, says the bank’s head of research
Deel hits $17.3 billion valuation, aims to expand globally
Payroll startup Deel said on Thursday it raised $300 million in a funding round, led by new investor Ribbit Capital alongside existing backers Andreessen Horowitz and Coatue Management, valuing the company at $17.3 billion.The San Francisco, California-based company said it plans to use the fresh ca ...
ASEAN endorses action plan to increase renewable electricity share to 45% by 2030
KUALA LUMPUR :The Southeast Asian regional bloc ASEAN has endorsed an action plan to increase the share of renewable electricity to 45 per cent of total capacity over the next five years, as part of its energy transition efforts.The plan will increase the share of renewables in its total primary ene ...
Hyphens Pharma’s subsidiary extends partnership to commercialise autoinjector pen in Thailand and Cambodia
Nicole Lim - Hyphens Pharma International’s subsidiary has extended its partnership with Medac Gesellschaft für klinische Spezialpräparate (medac) to include Thailand and Cambodia for the commercialization of an autoinjector pen. This builds on the existing agreement signed in March 2025 which granted Hyphen ...
Japan’s long-awaited chance of a market revival
Andrew Sheng - On Dec 29, 1989, the Nikkei 225 stock index reached an intraday high of 38,957.44 points, having grown sixfold during the decade. That day marked the end of the Japanese bubble, which began in 1985 when the yen weakened to a record low of 260 against the US dollar in February, causing the September ...
Daily Debrief: What Happened Today (Oct 16)
Stories you might have missed
TACOctober to nudge more funds to avoid bubbly US markets
Chew Sutat - The US Government has shut down — again. Since 1976, it has done so 20 times, albeit with a rosy period between 1995 to 2013 where it continued to function continuously, as its citizens expect it to do so. As partisan brinkmanship between Republicans and Democrats over budgets or the debt ceilings ...
India's Wipro beats second-quarter revenue view
BENGALURU :India's Wipro reported stronger-than-expected second-quarter revenue on Thursday, driven by strong growth in Asia and Americas communications businesses and forecast revenue for the current quarter to be in line with some analysts' estimates. The country's fourth-largest IT ...
Thales: still working on satellite merger project, no agreement reached at this stage
PARIS :No agreement has yet been reached between France's Airbus and Thales and Italy's Leonardo to create a major new European satellite manufacturer, a Thales spokesperson told Reuters on Thursday."No agreement has been reached at this stage. We are continuing our work. Any further ...
AI data centre boom spurs robot maker ABB's US sales
ZURICH :Swiss engineering company ABB said it is seeing strong customer demand, particularly from a surge in new data centres being built in the U.S. to process artificial intelligence.ABB, which makes factory robots, as well as motors and drives for factory production lines, also said on Thursday i ...
Indonesia considering 1% sustainable aviation fuel blend by 2026, official says
JAKARTA :Indonesia, the world's largest palm oil producer, is considering a plan to require international flights from Jakarta and Bali to use a 1 per cent sustainable aviation fuel (SAF) blend starting from 2026, energy ministry official Edi Wibowo said on Thursday.Indonesia's state energ ...
Riding the semicon wave with Frencken
The Edge Singapore - When news that a couple of other Singapore-listed manufacturers were planning a secondary listing on Bursa Malaysia, Dennis Au, president and executive director of Frencken Group, was “bombarded” with calls from shareholders, analysts and bankers to do the same. “You’ve got to do it!” Au r ...
Singapore shares dip 0.3%, even as regional markets rise
Renald Yeo - Yangzijiang Shipbuilding is the STI’s top gainer, rising 1.9% to S$3.26
Coach makes ambitious F&B push into Asia with 20 outlets as appetite for retail dining grows
Jaime Ee - The American label joins other luxury names that have opened eateries in Singapore
Kraken signs $100 million deal for Small Exchange to bulk up US derivatives business
Crypto heavyweight Kraken said on Thursday it has acquired futures exchange Small Exchange from IG Group for $100 million, paving the way to launch a fully U.S.-based derivatives suite.Small Exchange is a U.S. Commodity Futures Trading Commission-licensed designated contract market, giving Kraken a ...
Brazil can help beat China at its rare earth game
Juan Pablo Spinetto / Bloomberg Opinion - In 1967, a helicopter from United States Steel Corp. carrying a team of geologists made an accidental discovery after landing in a remote corner of the Amazon rainforest: a giant iron-ore deposit that would become Carajás, one of the world’s richest mineral regions. The setting today may feel les ...
GKE floats ready-mixed concrete spin-off; gears up for Dubai expansion
The Edge Singapore - Neo Cheow Hui, CEO of GKE Corp, recently had to disappoint some friends who thought he could get them early access to the newly launched iPhones. They assumed that GKE, which runs a chain of nine Singtel mobile phone reseller shops, could give them immediate access to the phones. Unfortunately, dema ...
BMW says supplier network impacted by row over chip maker Nexperia
BERLIN :Parts of BMW's supplier network are affected by U.S. and Chinese export restrictions that have been imposed on chipmaker Nexperia amid a growing row over intellectual property, a spokesperson for the German carmaker told Reuters on Thursday."We are in close contact with our supplie ...
BMW says supplier network impacted by developments at chip maker Nexperia
BERLIN :Parts of BMW's supplier network are affected by developments at Chinese-owned computer chip maker Nexperia, a spokesperson for the German carmaker told Reuters on Thursday."We are in close contact with our suppliers and continuously assess the situation in order to identify potenti ...
Court orders hotelier Allen Law to pay S$29 million to Park Hotel liquidators
Jessie Lim - Together with his companies, he is jointly and severally liable to pay another S$4.29 million
Soon Hock Enterprise debuts at 63 cents, closes at 57.5 cents on first day of trading
Nicole Lim - Soon Hock Enterprise Holdings closed at 57.5 cents on its first day of trading on Oct 16, lower than its IPO price of 58 cents. The industrial properties developer opened at 63 cents and went to an intra-day high of 64 cents. It closed with 27,654,5000 shares changing hands. The group’s initial pu ...
Stealing secrets: The real story of business espionage and how it’s evolving
Mark Trumble - This is a true story. A few years ago, the IT team of a large manufacturer of construction equipment spotted something suspicious during a routine check of their network logs (kudos to them for actually checking!). Computers in their R&D department were in “conversation” with an unknown inte ...
