Posts by Stephanie Irvin
Fortunes of Apac billionaires outstripped global wealth growth last decade: report
ASIA-Pacific’s (Apac) ultra wealthy had the fastest growing fortunes among billionaires across the globe over the last decade, a UBS report found on Thursday (Dec 5). The wealth of Apac’s billionaires soared 141 per cent over the last 10 years, according to the 10th UBS Billionaire Ambitions Report. This outpaced the global wealth growth rate…
Read MoreMAS extends deadline to cease corporate cheques to end-2026
THE Monetary Authority of Singapore (MAS) will extend the deadline to cease the processing of corporate cheques to the end of 2026. This comes after the Association of Banks in Singapore (ABS) said it will launch two new payment solutions to support corporate and retail cheque users to transition to e-payments. “MAS and the banks…
Read MoreKeppel partners Amazon Web Services on generative AI, sustainable infrastructure
The global asset manager is developing a cable system, which will be ‘the largest capacity high-speed transmission cable’ across the Pacific Ocean when fully commissioned KEPPEL has signed a multi-year strategic framework agreement with Amazon Web Services (AWS) to collaborate on data centres, subsea cables and renewable energy initiatives worldwide. As part of the…
Read MoreBOJ rate-hike bets retreat as traders count down to key meeting
Market expectations of a Bank of Japan (BOJ) interest rate hike this month sank after a local media report cast doubt on an increase, and the predictions hardly budged even after one of the policy board’s most dovish members said he was not opposed to higher rates. Overnight indexed swaps on Thursday (Dec 5) were…
Read MoreCLI acquires Osaka facilities from self-storage manager to expand Japan porfolio
They are part of a strategic alliance with Ambitious to expand ESA’s portfolio in the company’s focus market of Japan CAPITALAND Investment (CLI) has acquired four Osaka self-storage facilities from Japanese indoor self-storage manager Ambitious through Extra Space Asia (ESA), a self-storage platform it manages, and plans to acquire another two Tokyo facilities by early…
Read MoreFed’s Powell expects good relations with Trump administration
US Federal Reserve chair Jerome Powell downplayed the prospects of tension with the incoming Trump administration and said he expects officials can move cautiously as they continue lowering interest rates. “We can afford to be a little more cautious as we try to find neutral,” Powell said in reference to the level for rates that…
Read MoreFoot Locker to emphasise newer Nike styles at stores amid soft demand for its shoes
FOOT Locker executives said on Wednesday (Dec 4) that they are working closely with Nike to emphasise its newer styles, including Vomero and Air DT Max shoe models, amid “softness” in demand for the sneaker giant’s products as the holiday shopping season begins. “We will work through some of this short-term turbulence and play the…
Read MoreRobinhood to launch in Asia in 2025 with Singapore HQ
ROBINHOOD Markets will expand into Asia next year, tapping Singapore as its local base in the region, chief executive officer Vlad Tenev said. “We plan to be serving customers across Asia soon,” Tenev said on Wednesday (Dec 4) at the firm’s investor day in New York. The expansion comes on the heels of the Menlo…
Read MoreUS CFTC relief reaches record US$17.1 billion with crypto crackdown
The US Commodity Futures Trading Commission’s (CFTC ) fines and investor relief hit a record US$17.1 billion, largely due to the agency’s crackdown on defunct crypto exchange FTX. Most of the fines and remedies in fiscal 2024 were tied to FTX and sister hedge fund Alameda Research, which led to more than US$8.7 billion in…
Read MoreBankers can expect a bumper bonus after standout year, but hopefully it won’t be an obscene sum
Bank profits hit all-time highs for the first nine months of 2024, with their share prices reaching multi-year peaks DECEMBER conjures up some wonderful imagery; it is a month filled with the smell of falling rain, festive goodies, fresh pine from Christmas trees – and year-end bonuses. The mood must be especially sweet for some,…
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