Posts by Stephanie Irvin
DBS’ Tan Su Shan ranked sixth in Fortune’s list of the most powerful women in business
[SINGAPORE] Tan Su Shan, chief executive officer of DBS, has been named the sixth most powerful woman in business in Fortune magazine’s 2025 100 Most Powerful Women in Business list. In the top 10, she is the only Singaporean and one of two Asian-based business leaders alongside Huawei chief financial officer Meng Wanzhou, who ranked…
Read MoreMicrosoft-backed Builder.ai set for bankruptcy after cash seized
[LONDON] Builder.ai, the British artificial intelligence startup backed by Microsoft and the Qatar Investment Authority, is filing for bankruptcy after the chief executive officer said a major creditor had seized most of its cash. Viola Credit, which provided US$50 million in debt to the software firm last year, has seized US$37 million from Builder.ai’s accounts,…
Read MoreTikTok Shop US Employees told to work from home as layoffs loom
[SEATTLE] TikTok told US e-commerce staff to work from home on Wednesday (May 21) while awaiting emails regarding “difficult decisions,” suggesting the social media company is preparing to cut jobs. The Chinese-owned company is considering ways to “create a more efficient operating model,” Mu Qing, who took over TikTok Shop in the US last month,…
Read MoreCATL’s 1.8-billion euro German plant boosts China’s invest-abroad bet
[SINGAPORE/BERLIN] More than two years ago on the outskirts of a medieval German town, China’s biggest EV battery company placed a 1.8-billion euro (S$2.6 billion) bet on the future of global trade. The decision by Contemporary Amperex Technology to open a sprawling factory in central Germany – its first outside China – symbolised President Xi…
Read MoreJulius Baer faces US$156 million loan loss charge
[ZURICH] Julius Baer Group said it’s booking another large loss from property developments it helped finance, just as the Swiss wealth manager is emerging from a crisis triggered by its exposure to Rene Benko’s Signa real estate empire. The Zurich-based bank disclosed late Tuesday (May 20) that it’s taking a loan-loss charge of US$156 million…
Read MoreSingapore’s ultra-rich snapping up property in Dubai
[SINGAPORE] Property cooling measures may have dampened housing demand here, but Singapore’s ultra-rich are among high net-worth individuals (HNWI) around the world that are flooding into Dubai. In the first quarter alone, the United Arab Emirates’ most populous city saw the sale of 111 residential properties valued at over US$10 million each. This comes…
Read MoreSingapore’s ultra-rich among wealthy Asians snapping up property in Dubai
[SINGAPORE] Property cooling measures may have dampened housing demand here, but Singapore’s ultra-rich are among high net-worth individuals (HNWI) around the world that are flooding into Dubai. In the first quarter alone, the United Arab Emirates’ most populous city saw the sale of 111 residential properties valued at over US$10 million each. This comes…
Read MoreLabubu maker Pop Mart flagged for global expansion potential; CGSI initiates coverage
[Hong Kong] CGS International (CGSI) has initiated coverage on Pop Mart’s stock with an “add” rating, citing the group’s transformation from a toy retailer to an intellectual property (IP)-centric platform. CGSI set the price target for the Chinese stock at HK$249.60, versus its last price of HK$208 at Tuesday’s (May 20) close. That represents an…
Read MoreToyota takes all-hybrid plunge with its best-selling US vehicle
[DETROIT] Toyota Motor is scrapping the petrol-powered version of its best-selling vehicle in the US as the Japanese carmaker doubles down on its push into hybrids. The latest generation of the RAV4 compact crossover available later this year comes equipped with a standard or plug-in hybrid powertrain, dropping the gas-powered option that makes up the…
Read MoreVietnam approves establishment of Sun PhuQuoc Airways
Published Wed, May 21, 2025 · 10:37 AM [HANOI] Vietnam’s Prime Minister, Pham Minh Chinh, has approved the establishment of a new airline, Sun PhuQuoc Airways, the official Vietnam News Agency (VNA) reported on Tuesday (May 20). A spokesperson for the company confirmed the approval in an e-mail to Reuters on Wednesday, without giving further…
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