GIC in talks to buy StorageMart stake

SINGAPORE (BLOOMBERG) - Singaporean sovereign wealth fund GIC is in talks to acquire a stake in StorageMart, which describes itself as the largest privately...

Zoom earnings soar, doubles revenue forecast as video meetings become pandemic norm

SAN FRANCISCO (AFP, REUTERS) - Zoom on Tuesday (June 2) reported that its earnings soared as its video-meeting service became a popular way to...

Asia extends global stock rally on economic recovery hopes; STI up 1.7%

SYDNEY (BLOOMBERG) - Asian stocks extended a global stock rally on Wednesday (June 3) as investors continued to bet on a quick economic recovery...

Sim Leisure says CFO resigned after less than 6 months due to ‘mismatch of...

SINGAPORE (THE BUSINESS TIMES) - Theme park operator Sim Leisure Group on Tuesday (June 2) said the resignation of its chief financial officer (CFO),...

Negative rate benefits seen limited for Singapore’s stock market

SINGAPORE (BLOOMBERG) - While a decline in interest rates is generally seen as good for stocks, the benefits of Singapore's slide toward negative territory...

South Korea announces $40b third stimulus budget to fight coronavirus misery

SEOUL (REUTERS) - South Korea unveiled on Wednesday (June 3) a 35.3 trillion won (S$40.2 billion) supplementary budget, to raise the total stimulus to...

Wall Street closes up on signs of economic rebound

NEW YORK (REUTERS) - A late-session rally pushed Wall Street to solid gains on Tuesday (June 2) as market participants looked past widespread social...

Hyflux and its directors, including Olivia Lum, under criminal investigation for corporate governance breaches

SINGAPORE - Troubled water treatment firm Hyflux is under criminal investigation for false and misleading statements, as well as non-compliance with accounting standards, the...

Axington shares surge after Dorr’s cash offer, briefly push past offer price

SINGAPORE (THE BUSINESS TIMES) - Shares in Catalist-listed Axington Inc, formerly known as Axcelasia, rose as high as 21.5 cents on Tuesday morning (June...

Record bank deposits in Singapore seen signalling risk aversion

SINGAPORE (BLOOMBERG) - A jump in Singapore bank deposits probably reflects investors' risk aversion and inflows from markets including Hong Kong given the country's...

Bain and Branson-linked Cyrus picked as final two bidders for Virgin Australia

SYDNEY (REUTERS) - Virgin Australia Holdings' administrator said on Tuesday (June 2) it had selected private equity giant Bain Capital and Richard Branson-linked Cyrus...

Impossible Foods forces Nestle to rename its ‘Incredible Burgers’

NEW YORK (BLOOMBERG) - Nestle is rebranding its plant-based patties sold in Europe as the Sensational Burger after a Dutch court granted an injunction...

Great Eastern offers 1,000 vacancies for agents, over 300 for trainees and interns

SINGAPORE (THE BUSINESS TIMES) - Great Eastern Holdings is offering vacancies, traineeships and internships to give job seekers, graduates and students opportunities amid the...

US regulator says face masks could lead to more bank robberies

NEW YORK (NYTIMES) - The new head of a powerful US banking regulator is not letting his first full week on the job pass...

New woman billionaire emerges from another costly Asia divorce

HONG KONG (BLOOMBERG) - A new female billionaire has emerged from one of Asia's most-expensive break-ups. Mr Du Weimin, the chairman of Shenzhen Kangtai Biological...

Axcelasia gets $0.208 per share cash offer from Dorr Global Healthcare International

SINGAPORE (THE BUSINESS TIMES) - Dorr Global Healthcare International, a provider of management consultancy services for healthcare organisations, plans to make an unconditional cash...

Asia stocks make cautious gains as US-China worries slow recovery rally

SINGAPORE (REUTERS) - Asian stocks eked out gains on Tuesday (June 2) as investors' focus on the prospects of a global coronavirus recovery won...

Coronavirus to shave trillions from US economy over 10 years

WASHINGTON (NYTIMES) - The US Congressional Budget Office projected on Monday (June 1) that the coronavirus pandemic would inflict a serious long-term blow to...

South Korea economy to shrink faster in Q2: Central bank

SEOUL (AFP) - South Korea's economic contraction will worsen in the current quarter, the central bank forecast on Tuesday (June 2), as the coronavirus...

WeWork regional MD Turochas Fuad departs; firm names new Pacific MD

SINGAPORE (THE BUSINESS TIMES) - The managing director (MD) of WeWork South-east Asia and Korea, Turochas "T" Fuad, has left the company to pursue...

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