Posts by Stephanie Irvin
Amara appoints W Capital Markets as IFA for offer from Hwa Hong-led consortium
[SINGAPORE] Hotel group Amara on Wednesday (May 7) said it has appointed W Capital Markets as its independent financial adviser as it considers a voluntary conditional general offer from a consortium led by property company Hwa Hong. The IFA will advise Amara’s directors who are considered independent for the offer. The adviser’s opinion and the…
Read MoreElectronic Health Records: The Digital Switch
Switching to electronic health records (EHR) can feel like a huge leap for many healthcare practices. It’s not just about going digital; it’s about changing the entire way you handle patient information. Many practices that made the switch years ago can tell you it was a tough transition, but they also recognize the benefits that…
Read MoreEx-Pavilion Energy chief Alan Heng to lead Singapore’s new central gas entity
[SINGAPORE] Singapore has established a new government-owned entity to centralise natural gas procurement, and appointed Alan Heng, who previously led gas trader Pavilion Energy, as its chief executive. The formation of the entity, called Singapore GasCo, is a “major milestone” in Singapore’s transition towards green energy, the Energy Market Authority (EMA) said in a statement…
Read MoreTemu, Shein see US sales drop in week after tariff price hikes
[NEW YORK] Shein Group and Temu saw double-digit sales declines in the week after they raised retail prices to cover the costs of increased US tariffs, an initial sign that US President Donald Trump’s punitive trade measures have taken a toll on the shopping platforms’ popularity. Shein posted a 23 per cent drop in observed…
Read MoreHong Kong dollar interest rate falls most since 2008 after intervention
[NEW YORK] The Hong Kong dollar’s funding costs plunged the most since 2008, as the monetary authority’s intervention to defend the currency peg helped boost liquidity in the financial system. The one-month Hong Kong Interbank Offered Rate declined 58 basis points to 3.08 per cent on Wednesday (May 7), the most since 2008, according to…
Read MoreSIA and Scoot among Asia airlines rerouting flights amid flare-up in India-Pakistan hostilities
[SINGAPORE] Singapore Airlines (SIA) and its budget arm Scoot have stopped flying over Pakistani airspace after fighting broke out between Pakistan and neighbouring India. The Singapore carriers have been using alternative flight paths since Tuesday (May 6) to avoid the war zone. In response to queries from The Business Times, an SIA spokesperson said the…
Read MoreUOB not ‘overly alarmed’ by US tariff situation, impact unlikely to match Covid-era: Wee Ee Cheong
[SINGAPORE] A strong balance sheet and capital base will help UOB navigate uncertainties arising from US tariffs, said deputy chairman and chief executive officer Wee Ee Cheong. Speaking at the bank’s first-quarter earnings call on Wednesday (May 7), he noted that trade forms only about 10 per cent of UOB’s total loans portfolio, limiting the…
Read MoreUOB not ‘overly alarmed’ by US tariffs as its trade finance lending is mostly intra-regional: Wee Ee Cheong
[SINGAPORE] A strong balance sheet and capital base will help UOB navigate the uncertainties arising from US tariffs, said deputy chairman and chief executive officer Wee Ee Cheong. Speaking at the bank’s first-quarter earnings call on Wednesday (May 7), he noted that trade forms only about 10 per cent of the bank’s total loans portfolio,…
Read MoreAustralian dollar hits new five-month high on US-China trade talks
[SYDNEY] The Australian dollar hit a new five-month peak on Wednesday, buoyed by progress in US-China trade talks scheduled for later this week, while the New Zealand dollar found little support following a mixed picture on jobs. The Aussie fetched US$0.6514 for the first time since early December, although it was still battling sellers at…
Read MoreChina central bank governor says will cut banks’ reserve requirement ratio
Published Wed, May 7, 2025 · 09:42 AM — Updated Wed, May 7, 2025 · 09:52 AM [BEIJING] China’s central bank governor said on Wednesday the bank would cut the amount of cash that banks must hold as reserves by 50 basis points, the first reduction in 2025 as policymakers seek to boost liquidity and…
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