Benign STI seen as investors pivot to foreign markets, growth stocks
Goola Warden and Felicia Tan - Despite being a Saturday morning, it was a full house at The Edge Singapore’s Year-End Investment Forum on Dec 2. Sponsored by Moomoo SG, the forum featured three experts discussing the outlook for next year. The speakers were Too Jun Cheong, an equity dealer, Moomoo Financial Singapore; Song Seng ...
Myanmar crisis, Timor-Leste accession high on agenda as Laos gears up for Asean chair
Goh Ruoxue - LAOS Deputy Prime Minister and Minister of Foreign Affairs Saleumxay Kommasith was in Singapore on Thursday (Dec 7) to share more about his country’s priorities as it gears up to chair the Association of Southeast Asian Nations (Asean) in January.
Sasseur Reit extends 308 million yuan sponsor loan maturity by a year
Tay Peck Gek - A SASSEUR Real Estate Investment Trust (Reit)’s wholly-owned subsidiary has extended an unsecured interest-bearing loan of 308 million yuan (S$58.1 million) from its sponsor by a year, the Reit’s manager announced on Thursday (Dec 7). In a filing to the Singapore Exchange, Sasseur Asset Manageme ...
Indian banks ask fintech partners to limit tiny personal loans amid regulatory glare: Sources
MUMBAI: Top Indian banks and non-bank lenders have asked their fintech partners to curtail issuing tiny personal loans, three banking and one industry source said on Thursday (Dec 7), weeks after the central bank clamped down on the fast-growing business. Paytm plans to go slow on sub-50,000-rupee-l ...
X to start hiring engineers in Japan, CEO says
Social media platform X will start hiring engineers in Japan, chief executive Linda Yaccarino said in a post on Thursday. Nikkei earlier reported Yaccarino as saying X would start hiring engineers in 2024 and establish an app development team to develop functions and advertising products for the Jap ...
Daily Debrief: What Happened Today
Stories you might have missed
Singapore shares slip; STI down 0.4%
Yong Hui Ting - SINGAPORE shares fell on Thursday (Dec 7), wiping out gains from a day earlier. The Straits Times Index (STI) slipped 0.4 per cent or 12.98 points to end at 3,074.26. Across the broader market, decliners outnumbered advancers 308 to 277, with 888 million securities worth S$1 billion changing hands. ...
Britain proposes new checks on banks' reliance on tech companies
LONDON :The Bank of England and Britain's Financial Conduct Authority on Thursday proposed rules to regulate the heavy reliance of financial firms on external technology companies for critical operations.Banks, insurers, investment firms and market infrastructure use 'critical third partie ...
Bank of England proposes new checks on banks' reliance on tech companies
LONDON : The Bank of England and Britain's Financial Conduct Authority proposed on Thursday that there should be greater checks on financial firms' heavy reliance on external technology companies for their operations."Financial market infrastructure firms are becoming increasingly dep ...
Kenya judge finds Meta is not in contempt of court
NAIROBI : A Kenyan judge on Thursday found Facebook's parent company Meta was not in contempt of court for failing to pay dozens of content moderators that a contractor laid off. Labour judge Mathews Nduma Nderi said Meta did not "deliberately and contemptuously" breach a court order ...
China says Biden plan to shut it out of US battery supply chain violates WTO rules
BEIJING: China said on Thursday (Dec 7) that Biden administration plans to limit Chinese content in batteries eligible for generous electric vehicle tax credits from next year violate international trade norms and will disrupt global supply chains. The plans will make investors in the US electric ve ...
Toshiba to invest in Rohm's new power chip plant in Japan's Miyazaki -sources
TOKYO : Japan's Toshiba plans to invest in Rohm's new plant in southern Japan to produce power management chips, two sources with knowledge of the matter said on Thursday.It was not immediately clear how much Toshiba was planning to invest. However, it marks the two Japanese companies' ...
Cut-off yield on latest 6-month T-bill slips to 3.74% as demand rises
Tan Nai Lun - THE latest Singapore six-month Treasury bill (T-bill) is offering a cut-off yield of 3.74 per cent, according to auction results released on Thursday (Dec 7). This is down from the cut-off yield of 3.8 per cent offered in the previous six-month tranche of the T-bills, issued on Nov 28. Demand for th ...
Tesla’s Nordic labour dispute spreads as pension fund sells stock
TESLA’s Nordic labour dispute is starting to anger local investors, with a pension fund in Denmark now exiting the electric vehicle maker. PensionDanmark has sold its holding of Tesla shares in protest over the company’s refusal to sign collective labour agreements with its workers, it said in a ...
Navigating 50 years of market evolution
Khairani Afifi Noordin - During prosperous market conditions, when investors are keen to explore emerging industries or sectors, investment firms often seize the chance to introduce new funds while discontinuing underperforming ones. There are still funds with decades-long track records that generate robust returns for inve ...
Upgraded Singapore-China free trade agreement among 24 signed at annual top-level meeting
The agreements were unveiled at the 19th Joint Council for Bilateral Cooperation meeting, co-chaired by Singapore’s Deputy Prime Minister Lawrence Wong and Chinese Vice Premier Ding Xuexiang.
CATL to spend over HK$1 billion on HK headquarters, R&D center
CONTEMPORARY Amperex Technology Ltd (CATL), the world’s biggest producer of electric-vehicle batteries, is making Hong Kong its international headquarters and opening a research and development centre in the city. CATL will invest more than HK$1 billion (S$172 million) in the process, Hong Kong Fi ...
Investing in New China
The Edge Singapore - Veteran fund manager Wong Kok Hoi of APS Asset Management is happy to stay put in his China investments, where he sees both growth and value opportunitiesDespite China’s pandemic restrictions on foreign travel, Wong Kok Hoi of APS Asset Management did not let up for a moment. He endured weeks of q ...
People flows remain key to Singapore-China bilateral cooperation: Lawrence Wong
Tessa Oh - [BEIJING] Amid global economic headwinds and geopolitical uncertainty, Singapore and China must keep strengthening cooperation in both “traditional” areas such as trade and investment, and emerging areas such as digital and green economies, said Singapore’s Deputy Prime Minister Lawrence Wong ...
China does not share Japan's obsession with golfing, nor a 'balance sheet recession'
The Edge Singapore -
Why the return-to-office wave is a wake-up call for businesses
Nurrul Abdul Majid and Woon Wu Soong - The return-to-office (RTO) wave can be described as sluggish, bumpy, and awkward at best. Yet, instead of asking the right questions, leaders in many companies have been preoccupied with the problem at face value: The empty office. Discussions typically revolve around costs and the return on investm ...
💳 Pay up, Gen Zs
Chloe Lim - Find out more and sign up for Thrive at bt.sg/thrive 💵 Bills, bills, bills There are many reasons why young adults rack up sky-high spending levels or end up in debt, but they mainly stem from poor financial planning and bad budgeting practices. “Some of them may be between jobs, and use their ...
Enhancements to FTA among 24 deals signed to deepen Singapore, China cooperation
Tessa Oh - [BEIJING] Singapore and China are enhancing the China-Singapore Free Trade Agreement (CSFTA) with more business-friendly and transparent rules, to deepen bilateral trade and investment links.
Tesla executives looked at industrial estates in Thailand - PM
BANGKOK : Thailand's Prime Minister Srettha Thavisin on Thursday said he showed Tesla executives around industrial estates in the country last week for potential investment. "I went out of my way to entertain them so they would fall in love with Thailand .... they are looking for 2,000 rai ...
Qarbotech named winner of inaugural EQT Impact Challenge
Samantha Chiew & Khairani Afifi Noordin - Malaysia-based agrotech start-up earns the nod for helping crops improve yield; EQT sees growing desire for investors to both seek returns and do good After a gruelling process of shortlisting more than 170 applicants in the inaugural EQT Impact Challenge 2023 Southeast Asia edition, Malaysia-based ...
MAS seeks feedback on moves to beef up protection scheme when an insurer fails
Yong Hui Ting - THE Monetary Authority of Singapore (MAS) is seeking feedback on a set of changes to the policy owners’ protection (PPF) scheme to enhance coverage and improve efficiency of the policies through a consultation paper published on Thursday (Dec 7).
MAS proposes changes to insurance scheme to better protect policyholders when an insurer fails
Yong Hui Ting - THE Monetary Authority of Singapore (MAS) is seeking feedback on a set of changes to the policy owners’ protection (PPF) scheme to enhance coverage and improve efficiency of the policies through a consultation paper published on Thursday (Dec 7).
BOJ rate-hike bets ramp up as Ueda and Himino spook traders
TRADERS now see the Bank of Japan’s December policy meeting as a “live” event, with comments from Governor Kazuo Ueda and one of his deputies shaking up wagers in the rates and currency markets. Overnight-indexed swaps at one point on Thursday (Dec 7) showed an almost 45 per cent chance that t ...
EV Maker Nio considers more job cuts after shedding 10 per cent of staff
UNPROFITABLE Chinese electric carmaker Nio may undertake further job cuts to reduce costs and improve efficiency, people familiar with the matter said, just weeks after the company announced plans to eliminate 10 per cent of its workforce. Some departments were asked to prepare reserve lay-off lists ...
Chinese battery giant CATL hits back at Duke Energy disconnecting batteries
BEIJING/SHANGHAI : Chinese battery giant CATL has hit back at U.S. utility firm Duke Energy's move to disconnect its batteries, saying that accusations about CATL batteries posing a potential security threat are false and misleading.Business and products in the United States do not collect, sel ...
EV maker Nio considers more job cuts after shedding 10% of staff
Bloomberg - Unprofitable Chinese electric carmaker Nio Inc. may undertake further job cuts to reduce costs and improve efficiency, people familiar with the matter said, just weeks after the company announced plans to eliminate 10% of its workforce. Some departments were asked to prepare reserve lay-off lists, ...
EV maker Nio considers more job cuts after shedding 10% of staff - Bloomberg News
Chinese electric carmaker Nio Inc may undertake further job cuts after the company announced plans to cut 10 per cent of its workforce last month, Bloomberg News reported on Thursday, citing people familiar with the matter.
Indonesia palm oil fund agency sees 2024 export levy collections at $1.87 bln
INDONESIA’S palm oil fund agency predicts it will collect 29 trillion rupiah (S$2.5 billion) in revenues from export levies in 2024, slightly below this year, its chief executive said on Thursday (Dec 7). Eddy Abdurrachman provided the 2024 estimate to reporters based on an assumption that palm oi ...
Thai consumer confidence up slightly in November on government measures
THAI consumer confidence rose slightly in November, helped by government measures that reduced energy prices and a relaxing of visa rules for tourists, a survey showed on Thursday.
