Posts by Stephanie Irvin
Lazada-backed TNG Digital eyes Malaysian IPO over next two to three years: sources
MALAYSIA’S largest fintech company TNG Digital is looking at a potential domestic initial public offering (IPO) over the next two to three years that could raise over US$300 million, two sources with knowledge of the matter said. TNG Digital could potentially fetch the valuation of a unicorn – a startup with a market value of…
Read MoreMoneyHero trims Q2 loss to US$12.2 million
NASDAQ-LISTED MoneyHero reported a net loss of US$12.2 million for the second quarter ended Jun 30, narrowing from a loss of US$68.6 million in the year-ago period. This was attributed to “investments in strategically expanding customer acquisition, brand building, technology re-platforming and data infrastructure”, said chief financial officer Hao Qian in a statement on Friday…
Read MoreSats, Sinoair to collaborate on strategic projects in ground, cargo handling
The collaboration will extend across their respective networks and include setting up gateway hubs for Sinoair SATS will work with Chinese logistics company Sinotrans Air Freight (Sinoair) on ground and cargo-handling services across their respective networks, said the ground handler and in-flight caterer on Friday (Sep 20). The two companies are also in talks for…
Read MoreMeituan’s 63% stock surge faces risks in China consumer malaise
MEITUAN’S strategy to focus on lower prices has helped the Chinese food delivery company beat sales targets even as the slowing economy drags peers. Investors are now wondering whether its steep share-price gains can last as the macro weakness deepens. The firm last month posted 21 per cent sales growth and a record-high gross margin…
Read MoreHuawei’s US$2,800 tri-fold phone hits stores amid supply concerns
HUAWEI and Apple’s latest smartphones go on sale in China on Friday (Sep 20), with the Chinese tech company’s much-anticipated US$2,800 tri-foldable phone offered at more than twice the price of the iPhone 16 Pro Max. However, analysts warn that supply chain constraints could leave many buyers of Huawei Technologies’ Mate XT empty-handed. The launch…
Read MoreInterest rates fall, but central banks are no longer in lock step
TWO years ago, central banks around the world were engaged in a battle against high inflation that resulted in an aggressive and synchronised jump in interest rates. Now, many policymakers are reversing course – but in a less coordinated way as price increases slow at different paces in various countries. Central bankers in some emerging…
Read MoreSingapore swap rates set to narrow gap with US as MAS shift seen
SINGAPORE’S unusual approach to monetary policy will give traders a chance to profit from a narrowing gap between the local currency and US dollar interest-rate swaps. The difference between two-year overnight indexed swap rates in the two currencies is near the tightest level in more than a year, allowing traders to profit from receiving fixed-rate…
Read MoreBaht’s biggest rally since 1998 threatens Thai tourism, exports
THAILAND’S baht is on course for its biggest quarterly gain since the Asian financial crisis, threatening to derail a recovery in the nation’s key tourism and export industries. The currency’s 10 per cent surge against the US dollar since the end of June, the most since the first quarter of 1998, has prompted calls from…
Read MoreOil prices rise 2% after US rate cut
OIL prices rose by nearly 2 per cent on Thursday after the Federal Reserve’s large cut in US interest rates helped global benchmark Brent crude recover from its lowest in nearly three years hit last week. Brent futures rose to US$74.79 a barrel by 2.06 pm ET (1806 GMT), up by US$1.17, or 1.6 per cent,…
Read MoreEurope: Shares advance as global markets cheer Fed’s outsized rate cut
EUROPEAN stocks jumped on Thursday after the US Federal Reserve delivered a 50-basis-point rate cut and flagged that further easing would be measured, raising hopes of a soft landing for the American economy. The continent-wide Stoxx 600 index closed 1.4 per cent up, its highest closing level in more than two weeks. Most local bourses also…
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