Posts by Stephanie Irvin
US pharma tariffs would raise US drug costs by US$51 billion annually, report finds
[LONDON] A 25 per cent US tariff on pharmaceutical imports would increase US drug costs by nearly US$51 billion annually, boosting US prices by as much as 12.9 per cent if passed on, a report commissioned by the industry’s US trade group and reviewed by Reuters shows. The analysis, conducted by Ernst & Young, found…
Read MoreTencent Music in talks to buy Ximalaya for US$2.4 billion
Published Fri, Apr 25, 2025 · 09:02 PM [BEIJING] Tencent Music Entertainment Group is in advanced talks to buy Chinese podcasting startup Ximalaya in a US$2.4 billion deal that would accelerate its push to become China’s answer to Spotify Technology, according to people with knowledge of the matter. Tencent Music, controlled by Chinese tech firm…
Read MoreChina’s Didi recruits ride-hailing drivers in Hong Kong push
[HONG KONG] China’s Didi Global is quietly recruiting new drivers in Hong Kong as it looks to grow outside of mainland China. The move sets the Chinese ride-hailing pioneer up for close competition with Uber Technologies in a financial hub where regulations governing the sector are still in flux, providing a window for rivals to…
Read MoreBYD first-quarter profit soars, beating Tesla on another metric
[HONG KONG] BYD’s net income in the first quarter jumped to 9.15 billion yuan (S$1.7 billion), overtaking Tesla on another key metric and signalling a robust start to the year for China’s No 1 selling car brand. Shenzhen-based BYD’s net income was higher than the 8.1 billion yuan projected by analysts. While the carmaker’s sales…
Read MoreSeatrium chief financial officer resigns, to be replaced by strategy EVP
Current CFO Adrian Teng is leaving to pursue personal interests, with Stephen Lu taking up the role [SINGAPORE] Seatrium has appointed Stephen Lu, its executive vice-president (EVP) for strategy, as its new chief financial officer (CFO). Lu, whose new role will take effect from Apr 29, will continue to concurrently serve as EVP for strategy,…
Read MoreApple aims to build most iPhones for US in India by end-2026
[NEW DELHI] Apple is seeking to import most of the iPhones it sells in the US from India by the end of next year, accelerating a shift beyond China to mitigate risks related to tariffs and geopolitical tensions. The goal means Apple would roughly double its annual iPhone output in India to more than 80…
Read MoreStoneweg European Reit secures lease renewals with Motorola and Coolblue
[SINGAPORE] Stoneweg European Reit (Sert) has renewed two major leases across two office assets involving tenants Motorola Solutions and Coolblue BV, the Reit’s manager announced on Thursday (Apr 24). The leases span about 27,000 square meters (sq m) in the Netherlands and Poland. The global public safety and enterprise security firm Motorola Solutions extended its…
Read MoreKeppel Infrastructure Trust downgraded to ‘hold’; Mapletree Logistics Trust ‘buy’ call maintained: DBS
[SINGAPORE] Analysts from DBS Group Research are mixed on some real estate investment trusts (Reits) this earnings season – where they have kept their “buy” rating on logistics-focused Mapletree Logistics Trust (MLT), but downgraded Keppel Infrastructure Trust (KIT) to hold. This is amid widespread economic uncertainty – mainly from the recent US-China trade war –…
Read MoreHSBC launches wealth centre at Star Vista, seeks to deepen local wealth banking network
[SINGAPORE] HSBC Singapore has launched its newest wealth centre in Singapore at The Star Vista mall in Buona Vista, marking the second of three planned sites as the bank pivots towards a strategy based around physical wealth banking services, the bank announced on Friday (Apr 25). The branch, which will provide HSBC clients with bespoke…
Read MoreHongkong Land to sell 147,025 sq ft of One Exchange to HKEX, launch share buyback programme
[SINGAPORE] Property group Hongkong Land will sell 147,025 square feet (sq ft) of One Exchange Square to Hong Kong’s stock exchange operator for HK$6.3 billion (S$1.1 billion) and launch a share buyback programme. Proceeds from the sale, alongside other capital recycling activities executed during the fiscal year ended December 2024, will finance a US$200 million…
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