Israeli website creator Wix.com cuts 1000 jobs due to strong shekel, growth of AI
JERUSALEM, May 28 : Israel's Wix.com, which helps small businesses build and operate websites, is laying off 20 per cent of its workforce, or more than 1,000 workers, CEO Avishai Abrahami said on Thursday.In an X post, Abrahami cited a strong shekel versus the dollar and a fast evolution of AI ...
Temu fined 200 million euros for breaching EU rules on sale of illegal products
[BRUSSELS] Chinese online retailer Temu has been fined 200 million euros (S$297 million) for not doing enough to stop the sale of...
Silver Lake-backed Entrata reveals 23% revenue jump in US IPO filing
May 28 : Property management software company Entrata filed for a U.S. initial public offering on Thursday, revealing a 23 per cent revenue surge in the first three months of 2026, as issuers line up to tap the summer IPO window.The Lehi, Utah-based company reported a net income of $23.3 million on ...
DBS maintains 'buy' on IHH Healthcare with slightly raised target price of $3.39
The Edge Singapore - Amanda Tan of DBS Group Research has maintained her "buy" call on IHH Healthcare following its 1QFY2026 results, which showed "steady" core earnings growth, although somewhat blemished by unfavourable forex. For the three months to March, IHH reported earnings of RM545 million, a ...
What is behind the rising volume of Russian oil arriving in Singapore?
Singapore is also the world’s largest bunkering hub
Explainer: What is behind the rising volume of Russian oil arriving in Singapore?
[SINGAPORE] The volume of Russian fuel oil in Singapore waters has risen to the highest level in a year, as a war constricts...
DBS CEO Tan Su Shan ranks sixth globally on Fortune’s most powerful women list in 2026
Ranamita Chakraborty - Png Chin Yee, Temasek International’s CFO, is the only other Singapore-based executive on the global list, at 77th
IBM commits $5 billion to secure open-source software
May 28 : IBM said on Thursday it has committed $5 billion to an initiative that will deploy engineers and AI tools to help companies better secure open source software.The initiative, called Project Lightwell, seeks to create a "clearinghouse" for open source security, establishing a model ...
Temu fined $232 million for breaching EU rules on sale of illegal products
BRUSSELS, May 28 : Chinese online retailer Temu has been fined €200 million ($232 million) on Thursday for not doing enough to stop the sale of illegal products, EU tech regulators said on Thursday, following the first part of a wide investigation.Further penalties could follow in the coming month ...
Temu fined US$232 million for breaching EU rules on sale of illegal products
BRUSSELS: Chinese online retailer Temu has been fined €200 million (US$232 million) for not doing enough to stop the sale of illegal products, European Union tech regulators said on Thursday (May 28), following the first part of a wide investigation.Further penalties could follow in the coming mon ...
Trendlines portfolio company Phytolon closes US$23.6 mil Series B financing
Teo Zheng Long - The Trendlines Group (Trendlines) (SGX: 42T ) announced that its portfolio company, Phytolon, has closed its US$23.6 million Series B financing to commercialise its natural food colours in the United States. Trendlines says that the Series B financing round for Phytolon was led by a strategic invest ...
Vietnam's top leader To Lam to make state visit to Singapore, give Shangri-La Dialogue keynote
Goh Ruoxue - Agenda includes site visits to A*Star facility, Bishan Depot
Vietnam records strongest private capital rebound in years despite zero IPO exits
Jamille Tran - The current IPO pipeline is set to be the first private sector-led cycle since 2018: report
South Korea pension fund to invest more in local stocks as KOSPI rallies
SEOUL, May 28 : South Korea's state-run pension fund has decided to raise its target for domestic stock holdings amid a world-beating local stock market rally driven by the global AI boom, the Welfare Ministry said on Thursday. The National Pension Service (NPS), the world's third-biggest ...
Michelin to cut up to 1,500 jobs in France to reduce costs
FRENCH tyre maker Michelin is considering a plan to cut up to 1,500 jobs over three years to reduce costs, the company...
Bank of Japan’s rate hike timing secondary to economy’s readiness: ex-BOJ Deputy Governor Wakatabe
[TOKYO] Former Bank of Japan Deputy Governor Masazumi Wakatabe said on Thursday that the timing of a potential interest rate hike is...
Valuetronics posts 69.8% fall in H2 earnings as consumer electronics sales falter; revises dividend policy
Therese Soh - Revenue declines 5% to HK$823.7 million
Valuetronics posts 69.8% fall in earnings as consumer electronics sales falter; revises dividend policy
Therese Soh - Revenue declines 5% to HK$823.7 million
Valuetronics H2 earnings fall 69.8% as consumer electronics sales falter
Therese Soh - Revenue declines 5% to HK$823.7 million
Mistral defends military AI, expands data centres
PARIS, May 28 : Mistral, widely seen as Europe's leading AI company and its best hope of challenging top U.S. peers, on Thursday defended military uses of the technology as it unveiled a new French data centre.Mistral CEO and co-founder Arthur Mensch told reporters that Europe needed its own AI ...
Mistral rejects Pope Leo criticism of AI military use
PARIS, May 28 : Mistral CEO Arthur Mensch on Thursday rejected criticism from Pope Leo over the military use of AI, saying Europe needed its own tools to deter rivals using the technology.Pope Leo issued a document on Monday urging international regulation to curb the development of AI systems and w ...
Mistral defends AI use in warfare, rebuts Pope criticism
PARIS, May 28 : The founder of French AI startup Mistral on Thursday pushed back against criticism from the Pope over the use of AI in warfare, saying Europe must be able to protect itself as rivals deploy the technology."We're all for peace, but if you look at our rivals and adversaries i ...
Nomura hikes 2030/31 profit target by 50%, boosted by fee-based revenues
TOKYO, May 28 : Nomura Holdings has raised its profit target by 50 per cent for the 2030/31 financial year, in a signal from Japan's largest investment bank and brokerage of its confidence in its business transformation and its capacity to weather volatile markets.Nomura is targeting at least 7 ...
Ex-BP chair Manifold says not everyone shared his efficiency priorities, but praises executives
Manifold had spent just eight months as chairman
PhillipCapital's Hashim raises target price for Nordic Group to 68 cents with more orders in the book
The Edge Singapore - Hashim Osman of PhilliPCapital has raised his target price for Nordic Group after the company's 1QFY2026 earnings which was up by 11% y-o-y to $5 million, with further growth ahead due to a bigger order book. In the quarter, net profit margin increased by 120 basis points to 12%. The ongoing sh ...
PBOC tells Chinese banks to boost May lending as credit weakness persists
Household and corporate loan demand has remained weak this month
Nomura raises annual profit target 50% after record year
It seeks to post at least 750 billion yen (S$6.01 billion) in annual pretax income by the year ending March 2031
European shares drop as escalating US-Iran tensions weigh on sentiment
EUROPEAN shares slipped on Thursday as escalating tensions in the Middle East clouded the outlook for an imminent deal to open the Strait...
DBS upgrades Singtel to ‘buy’ as Bharti Airtel gets valuation boost with upcoming industry tailwind
Jermaine Fok - The brokerage also raises its price target to S$5.46 from S$5.36
Australian shares retreat to 1-week closing low on fresh US-Iran flare-up
[SYDNEY] Australian shares closed at their lowest in a week on Thursday (May 28), with most sectors finishing in the red, after...
JD.com founder vows to protect Chinese jobs from AI and robots
The company will ‘do everything possible to safeguard employment’ Liu says
Japan banks battle to secure deposits as savers chase market highs
TOKYO, May 28 : Japanese banks are, in a historic shift, competing to shore up their deposit base as lending opportunities grow and consumers, seeking to beat inflation, shift their savings into a booming stock market.While banks had been able to count on ample deposits for decades, growing prospect ...
US private credit risks not mirrored in South-east Asia: IFS Capital CEO
Jean Low - Randy Sim explains why the region’s credit landscape looks nothing like that of the US and why we should differentiate them
ByteDance developing custom CPU chips to support AI roll-out: sources
Surging chip prices, prolonged supply shortages have constrained expansion plans
