Posts by Stephanie Irvin
UBS completes merger of Swiss business with Credit Suisse
UBS has already begun to move over clients from Credit Suisse in Hong Kong and Singapore Swiss bank UBS has completed the merger of its domestic unit with Credit Suisse’s operations in its home market, the bank said on Monday (Jul 1), adding that the head of the Credit Suisse business was leaving the bank.…
Read MoreUMS Holdings acquires industrial land in Penang for RM15.2 million
This brings the group’s combined space in Singapore and Malaysia to over 1.2 million sq ft SEMICONDUCTOR company UMS Holdings’ wholly owned subsidiary has acquired 5.4 acres or approximately 235,000 square feet (sq ft) of leasehold industrial land in Penang, Malaysia, for RM15.2 million (S$4.5 million). The 60-year leasehold land is “strategically located” between Perai…
Read MoreChina’s rare earths firms rally as fresh industry overhaul looms
CHINA’S rare earths producers jumped after Beijing unveiled a regulatory overhaul of the sector that could squeeze supplies and lift languishing prices of the critical minerals. A “unified development plan” for the sector will come into force from Oct 1, aiming to step up government oversight of the entire supply chain, two ministries said in…
Read MoreMeta risks fines over ‘pay for privacy’ model breaking EU rules
THE EU accused Facebook owner Meta on Monday (Jul 1) of breaching the bloc’s digital rules, paving the way for potential fines worth billions of euros. The charges against the US tech titan follow a finding last week against Apple that marked the first time Brussels had levelled formal accusations under the EU’s Digital Markets…
Read MoreUK consumer credit bounces back in May, Bank of England says
BRITISH consumers increased their borrowing in May by the most in four months after a dip in April, Bank of England data showed on Monday (Jul 1), adding to signs of recovering momentum in the country’s economy. Consumer borrowing grew by a net £1.5 billion (S$2.6 billion), the most since January and up from a…
Read MoreFrench tech group Atos reaches restructuring deal giving creditors control
ATOS’ creditors reached an agreement with the company that will see them take control of the embattled French IT services company instead of an outside investor. Bondholders and lenders have agreed to convert 2.9 billion euros (S$4.2 billion) of loans and bonds into equity, provide as much as 1.68 billion euros of new debt and…
Read MoreEY Singapore to invest S$100 million in talent development programmes over five years
Additionally, a new management associate programme will allow participants to try different service lines and increase exposure to various industries EY SINGAPORE will invest S$100 million over five years to boost its talent development programmes and improve the attractiveness of the profession, said the financial services giant on Monday (Jul 1). As part of the…
Read MoreCyber insurance rates fall as businesses improve security: report
CYBER insurance premiums are falling globally as businesses become more adept in curbing their losses from cyber crime, even as ransomware attacks are rising, broker Howden said in a report on Monday (Jul 1). Insurance premiums to protect companies against cyber attacks rocketed in 2021 and 2022, as the Covid-19 pandemic drove cyber incidents. But…
Read MoreSIA’s CEO earned S$8.1 million, 20.6% higher in FY2024
Goh’s right-hand men, chief commercial officer Lee Lik Hsin and chief operations officer Tan Kai Ping, each drew a total remuneration of between S$3.5 million and S$3.75 million for FY2024. SINGAPORE Airlines (SIA)‘s chief executive officer Goh Choon Phong earned S$8.1 million – a 20.6 per cent or S$1.4 million increase – in annual remuneration…
Read MoreSIA CEO earned S$8.1 million in FY2024, a 20.6% increase
SINGAPORE Airlines’ (SIA) chief executive officer Goh Choon Phong earned S$8.1 million – a 20.6 per cent or S$1.4 million increase – in annual remuneration for FY2024, a banner year for the flag carrier whose net profit reached an all-time high. According to the annual report published on Monday (Jul 1), Goh’s total remuneration package…
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