Posts by Stephanie Irvin
Airline Caterer Gategroup said to pick banks for Zurich IPO
[ZURICH] The world’s biggest in-flight caterer Gategroup Holding has selected banks for an initial public offering, which could take place as soon as the second half of next year, people familiar with the matter said. Bank of America, Morgan Stanley and UBS Group have been picked to help with the preparations for the potential listing…
Read MoreDBS, OCBC hit new records but UOB lags
The new records follow DBS’ appointment by the Chinese central bank to be the first local bank to serve as a yuan clearing lender [SINGAPORE] Shares of two local banks, DBS and OCBC , hit all-time highs on Tuesday (Dec 16), while UOB trailed its peers. Singapore’s largest lender, DBS, reached a new record of…
Read MoreBOJ is set to raise benchmark rates to highest level since 1995
The yen’s weakness has played a vital role in reviving inflation by prompting businesses to pass their higher input costs on to consumers [TOKYO] Governor Kazuo Ueda is widely expected to raise the Bank of Japan’s (BOJ) key rate to the highest level in three decades on Friday (Dec 12). The path ahead becomes murkier…
Read MoreMUFG said to near deal for stake in India’s Shriram
[TOKYO] Mitsubishi UFJ Financial Group is nearing a deal to buy a minority stake in India’s Shriram Finance, according to people familiar with the matter, the latest foreign bank seeking to build a presence in the world’s most populous country. MUFG may invest more than US$3.2 billion to buy a stake of around 20 per…
Read MoreGerman regulator orders oversight, limits on GIC-backed online bank N26
The measures mark the second time since 2021 that BaFin has directed a special monitor to oversee the fast-growing Berlin-based lender [FRANKFURT] Germany’s financial regulator BaFin on Monday (Dec 15) announced stricter oversight of Berlin-based online bank N26, including limits on new business in the Netherlands and the instalment of a special monitor, after finding…
Read MoreThai baht is too strong, impacting economy, finance minister says
[BANGKOK] Thailand’s baht is too strong and affecting its export-driven economy, the country’s finance minister said on Monday (Dec 15), as the currency reached its highest level against the dollar in more than four years. The baht traded at 31.46 per dollar on Monday. It has strengthened by 9 per cent against the dollar so…
Read MoreMiddle East oil market weakens as glut concerns gain traction
The IEA, meanwhile, projects output will exceed consumption by 3.8 million barrels a day in 2026 [SINGAPORE] The Middle Eastern oil market has weakened in recent weeks on concern that regional supplies will outstrip demand, adding to signs of a softening global picture that’s weighed on benchmark crude futures. Among widely watched metrics, the premium…
Read MoreRebate cuts won’t hurt Singapore’s momentum as South-east Asia’s top EV market in 2026
The Republic’s EV take-up is expected to rise due to a continued price advantage and new benefits for electric heavy vehicles [SINGAPORE] The Republic’s electric vehicle (EV) adoption rate should continue to grow in 2026 despite a cut in incentives for passenger EVs, say industry observers. Passenger EV sales will be driven by cost-effective China…
Read MoreXpeng in negotiations partner with EPMB to start EV production in Malaysia
Chinese EV maker aims to make Malaysia a base for expansion across Asean’s right-hand-drive markets [SHANGHAI] Xpeng said on Friday (Dec 12) that it is in negotiations to partner EP Manufacturing Bhd (EPMB) to begin mass electric vehicle production in Malaysia in 2026 as it ramps up global expansion. Xpeng hopes to leverage EPMB’s existing…
Read MoreIntel has tested chipmaking tools from firm with sanctioned China unit: sources
Two of ACM’s units, based in Shanghai and South Korea, are barred last year from receiving US technology [WASHINGTON/SAN FRANCISCO] Chipmaker Intel, has tested chipmaking tools this year from a toolmaker with deep roots in China and two overseas units that were targeted by US sanctions, according to two sources with direct knowledge of the…
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