Posts by Stephanie Irvin
Amazon Web Services and Digital Industry Singapore launch programme to spur AI transformation
[SINGAPORE] Amazon Web Services (AWS) and government agency Digital Industry Singapore (DISG) on Thursday (Jun 26) launched a programme to accelerate artificial intelligence (AI) transformation among enterprises over the next year. The initiative, called AI Springboard, will provide some 300 Singapore-based companies with up to S$600,000 in Amazon cloud credits and training support. AWS is…
Read MoreSingapore Savings Bond demand falls short; 10-year average return drops to 2.49%
In comparison, the previous issuance for June saw a total of S$302.9 million in applications, versus S$500 million on offer [SINGAPORE] The latest Singapore Savings Bond (SSB) allotted on Thursday (Jun 26) saw applications fall short of the S$400 million offered, with the 10-year average return dropping from the previous tranche. The July tranche of…
Read MoreSingapore’s millionaire inflow to halve in 2025: report
[SINGAPORE] Singapore will likely see a net inflow of 1,600 millionaires in 2025 – less than half the 3,500 that had been projected to move there in 2024, a report by investment migration consultancy Henley & Partners showed. This is even as a record 142,000 millionaires worldwide are expected to relocate this year, according to…
Read MoreIndonesia working on new e-commerce tax rule in bid to target ‘shadow economy’
[JAKARTA] Indonesia is working on a new regulation that will require e-commerce platforms to collect and pass on sellers’ sales income in a bid to tackle the “shadow economy”, its tax office said on Thursday (Jun 26) confirming a Reuters report earlier this week. Citing sources, Reuters reported exclusively on Tuesday about a planned directive…
Read MoreTop Glove Q3 profit slides 31% to RM34.7 million despite higher revenue
[SINGAPORE] Malaysian glove maker Top Glove on Thursday (Jun 26) posted a net profit of RM34.7 million (S$10.5 million) for its third quarter ended May, 31 per cent down from a profit of RM50.7 million in the previous corresponding period. Earnings per share for the quarter stood at 0.43 sen, down from 0.63 sen previously.…
Read MoreBank of Korea overhauls repo framework amid changing liquidity conditions
[SEOUL] The Bank of Korea (BOK) said it’s revamping its open market operation framework to increase its operational flexibility to manage liquidity, stabilise short-term rates, and respond during periods of financial stress. Starting Jul 10, the central bank will conduct both buying and selling of repurchase agreements, or repos on fixed days, shifting away from…
Read MoreMars US$36 billion Kellanova deal waved ahead by US regulator
[SAN FRANCISCO] Mars’ US$36 billion takeover of snack maker Kellanova was given the green light by the US Federal Trade Commission (FTC) on the same day European Union regulators opened up a lengthy probe of the deal. The head of antitrust enforcement at the Washington-based agency said a review of the deal found that it…
Read MoreCivmec set to acquire ship manufacturer Luerssen Australia for A$20 million
[SINGAPORE] Construction and engineering services provider Civmec will purchase Luerssen Australia from Naval Vessels Lurssen (NVL) Australia for A$20 million (S$16 million) in cash, the company said on Thursday (Jun 26). Civmec will take ownership of the whole business, including assets, employees and licences. The deal will be funded by the group’s existing cash reserves.…
Read MoreCapitaLand India Trust prices S$100 million perpetual securities at 4.4%
The issuance is part of Clint’s S$1.5 billion multicurrency debt issuance programme [SINGAPORE] CapitaLand India Trust (Clint) has priced S$100 million worth of subordinated perpetual securities, with a fixed rate of 4.4 per cent per annum, the trustee-manager said on Wednesday (Jun 25). The issuance is part of Clint’s S$1.5 billion multicurrency debt issuance programme.…
Read MoreShell says it isn’t in talks to take over oil rival BP
Speculation has been growing that the embattled company would become a takeover target Published Thu, Jun 26, 2025 · 08:03 AM [LONDON] Shell denied a Wall Street Journal report that it is in active talks about acquiring its London-based oil rival BP. “This is further market speculation. No talks are taking place,” a Shell spokesperson…
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