Posts by Stephanie Irvin
Chip-design firm SkyeChip is close to a Malaysian IPO, CEO says
Published Tue, Jul 1, 2025 · 03:51 PM [KUALA LUMPUR] Malaysian semiconductor designer SkyeChip is “close” to an initial public offering after posting consecutive years of revenue and profit growth, said chief executive officer Fong Swee Kiang. The company, founded in 2019, has seen “30 per cent revenue growth every year, and a 30 per…
Read MoreStandard Chartered faces US$2.7 billion lawsuit over alleged role in 1MDB fraud; bank ‘emphatically rejects’ claims
[SINGAPORE] Liquidators seeking to recoup misappropriated funds from Malaysia’s sovereign wealth fund 1Malaysia Development Berhad (1MDB) have initiated legal proceedings against Standard Chartered Bank in the High Court of Singapore, they said in a statement dated Monday (Jun 30). The lawsuit, brought by court-appointed liquidators Angela Barkhouse and Toni Shukla, seeks to hold StanChart accountable…
Read MoreChina raises quota for foreign investment, ending 13-month pause
The QDII programme allows local institutional investors who meet certain conditions to buy foreign securities, bonds, and commodities within their prescribed limit Published Tue, Jul 1, 2025 · 01:42 PM [BEIJING] China has increased the amount of money that approved investors can put into overseas assets for the first time since May last year as…
Read MoreChinese automakers grab record hybrid market share in Europe
[LONDON] Chinese automakers continued to expand their European foothold in May, capturing the highest share ever of hybrid-car sales and the biggest slice of the electric vehicle (EV) market in 10 months. Manufacturers led by BYD and Saic Motor’s MG surpassed 9 per cent share in both of those categories, based on figures from industry…
Read MoreAsia: Stocks rise on trade deal hopes, Tokyo hit by tariff warning
[HONG KONG] Asian stocks rose on Tuesday amid optimism countries will strike US trade deals, though Tokyo’s Nikkei sank after Donald Trump threatened to impose a fresh tariff rate on Japan as he hit out at the country over rice and autos. The dollar also extended losses as investors grow increasingly confident the Federal Reserve…
Read MoreShell-led LNG Canada ships first cargo to meet Asian demand
[LONDON] Shell has started exports from Canada’s first liquefied natural gas (LNG) project, helping to meet rising Asian demand and extending its position in the global LNG market. The first cargo from the plant in British Columbia was loaded on the vessel Gaslog Glasgow. Operator LNG Canada Development said on Monday (Jun 30) that the…
Read MoreSouth Korea wealth fund to boost bets on AI startups, eyes China tech
[SEOUL] South Korea’s sovereign wealth fund plans to increase allocations to tech startups and venture capital funds (VCs) as part of its broader push to deepen exposure to artificial intelligence (AI) and other disruptive technologies. Korea Investment Corporation (KIC), which manages US$206.5 billion in assets, is expanding its allocation to alternative assets to enhance returns,…
Read MoreCircle applies for US trust bank license after bumper IPO
[NEW YORK] Stablecoin firm Circle is applying to create a national trust bank in the US, a major move after its blockbuster initial public offering (IPO) valued the company at nearly US$18 billion earlier this month. If the charter is granted by the US Office of the Comptroller of the Currency (OCC), it would enable…
Read MoreStruggling semiconductor firm Wolfspeed files for bankruptcy
[NEW YORK] Wolfspeed, a chipmaker caught in US President Donald Trump’s push to reshape Biden-era tech subsidies, filed bankruptcy to enact a creditor-backed plan to slash US$4.6 billion in debt. The North Carolina-based company filed petitions for reorganisation under Chapter 11, according to a statement released on Monday (Jun 30). It expects to emerge out…
Read MoreApple weighs using Anthropic or OpenAI to power Siri in major reversal
[LOS ANGELES] Apple is considering using artificial intelligence (AI) technology from Anthropic PBC or OpenAI to power a new version of Siri, sidelining its own in-house models in a potentially blockbuster move aimed at turning around its flailing AI effort. The iPhone maker has talked with both companies about using their large language models for…
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