Posts by Stephanie Irvin
Tether sees US$10 billion in net profits for 2024
The world’s biggest stablecoin issuer, Tether, is on track to close the year with more than US$10 billion in net profits, chief executive Paolo Ardoino said in an interview. As Bitcoin and many other cryptocurrencies rallied to new all-time highs, demand for Tether’s USDT stablecoin – pegged to the US dollar – has skyrocketed. The…
Read MoreHalloween Spending Statistics 2024
Halloween 2024 is shaping up to be a big year for spending, with Americans expected to shell out around $11.6 billion on costumes, candy, decorations, and more. Even though it’s slightly less than last year’s all-time high, it’s still a hefty sum, showing that Halloween is a major event on the retail calendar. With nearly…
Read MoreBillions of dollars, bold action: Emerging markets battle a surging greenback
From Brazil to South Korea, emerging-market central banks are forming a line of defence as a rising US dollar pushes their currencies to multi-year lows. Bangko Sentral ng Pilipinas is watching the peso’s drop closely and has stepped up intervention in the currency market, Governor Eli Remolona said on Friday (Dec 20). Brazil’s central bank…
Read MoreAustralian authorities urge hundreds to flee out-of-control bushfires
Bushfires in Australia’s Victoria state burnt out of control on Saturday (Dec 21), with authorities issuing an evacuation order at the highest danger rating for hundreds of residents in the state’s west. The alert was for an area near the Grampians National Park, about 241 km west of state capital Melbourne, and included rural towns…
Read MoreHow Young Entrepreneurs Can Leverage Sustainability Trends in the Steel Industry
The steel sector is undergoing a huge change toward sustainability, giving young entrepreneurs chances to make a difference. As environmental concerns develop, there is a greater need for green practices, presenting a new canvas for innovation and leadership. Young entrepreneurs may drive change by incorporating sustainability trends into steel production and supply networks, assuring long-term…
Read MoreEurope: Shares see worst week in more than 3 months as healthcare slides
Europe’s Stoxx 600 clocked its second straight weekly fall on Friday (Dec 20), with the healthcare sector leading losses after Danish firm Novo Nordisk tumbled on disappointing data from its next generation obesity drug trial. The pan-European Stoxx 600 index closed 0.9 per cent lower, paring some losses after falling as much as 2 per…
Read MoreOUE Reit divests entire stake in Shanghai property owned by Indonesia’s Lippo Group
OUE Real Estate Investment Trust (Reit) is set to sell its entire stake in Lippo Realty, a real estate service provider that manages and operates an office building in Shanghai, to an unrelated entity for 1.9 billion yuan (S$357.4 million), said its manager in a bourse filing on Friday (Dec 20). Both the seller and…
Read MoreCompetition watchdog fines two interior-construction firms nearly S$10 million for rigging tender bids
TWO contractors who provide interior fit-out construction services for non-residential properties were penalised by the Competition and Consumer Commission of Singapore (CCCS) for rigging the bids for several tenders, said CCCS in a press statement on Friday (Dec 20). Flex Connect and Tarkus Interiors received an infringement decision from the CCCS on Friday for infringing…
Read MoreMaNaDr Clinic loses licence, found to have ‘entrenched culture of disregard’ for ethical and clinical standards: MOH
The clinic can no longer operate at its permanent premises at 371 Beach Road, nor temporary locations such as patients’ residences, or remotely via teleconsultation THE Ministry of Health (MOH) has revoked MaNaDr Clinic’s licence to provide outpatient medical services, citing an “entrenched culture of disregard” for ethical and clinical standards. The revocation, effective Friday…
Read MoreApollo says private credit may reach US$40 trillion by 2030
APOLLO Global Management said that a booming part of private credit is already a US$20 trillion industry and that the market as a whole may reach US$40 trillion within the next five years. “We are going to get there really soon,” Akila Grewal, Apollo’s global head of credit product, said in Bloomberg Intelligence’s latest Credit…
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