Posts by Stephanie Irvin
CEO’s wealth hits US$33 billion as unprofitable Chinese medicine firm’s stock soars
[NEW YORK] A blistering rally in a tiny, money-losing traditional Chinese medicine company’s stock has vaulted its founder’s net worth to among the world’s largest fortunes. The firm, Hong Kong-based Regencell Bioscience Holding, was for all intents and purposes trading as a microcap stock on the Nasdaq just eight weeks ago. But its shares have…
Read MoreDefence, oil and other names: Analysts look at ways to invest amid Israel-Iran conflict
[SINGAPORE] Recent attacks between Israel and Iran have caused investors to mull over where to place their bets next, especially with defence names rallying, as well as gold and oil prices spiking. Overall, global defence contractors on average rallied as much as 4 per cent in the initial reaction after the Israel-Iran attacks, Morningstar noted.…
Read MoreBlackRock launches absolute return hedge fund for retail investors in Singapore and Hong Kong
[SINGAPORE] BlackRock has launched an Asia-Pacific-focused hedge fund for retail investors in Singapore and Hong Kong, the world’s largest asset manager with US$11.6 trillion in assets under management announced on Wednesday (Jun 18). The fund, titled the Systematic Asia Pacific Equity Absolute Return Fund, employs a market-neutral strategy that is designed to be resilient to…
Read MoreWilmar to buy over Nigeria-incorporated palm oil business from British joint venture partner for US$70 million
[SINGAPORE] Wilmar International is buying the remaining stake it does not already own in a Nigeria-incorporated palm oil business from its joint venture partner, British manufacturer PZ Cussons, for US$70 million. Once its acquisition of the 50 per cent equity stake in PZ Wilmar held by the London Stock Exchange-listed company is complete, Wilmar will…
Read MoreHoi Hup Realty clinches resolution to grant planning consent for London ‘High Holborn’ project
[SINGAPORE] Hoi Hup Realty on Wednesday (Jun 18) secured a resolution to grant planning consent from the City of London Corporation for the “High Holborn” project, an office-led regeneration of a 1.4-acre island site. The project area comprises three buildings in London – at 322 High Holborn, Holborn Gate and 44 Southampton Buildings. The “High…
Read MoreSIA flights from Changi Airport to Bali among dozens cancelled after Indonesia volcano eruption
[JAKARTA] At least two dozen flights to and from the Indonesian resort island of Bali, including Singapore Airlines flights from Changi Airport, have been cancelled after a volcano in the archipelago’s east erupted, shooting an ash tower 10km into the sky. Mount Lewotobi Laki-Laki, a 1,703m twin-peaked volcano on the eastern tourist island of Flores,…
Read MoreUS plans to ease capital rule limiting banks’ Treasury trades
[WASHINGTON] The top US bank regulators plan to reduce a key capital buffer by up to 1.5 percentage points for the biggest lenders after concerns that it constrained their trading in the US$29 trillion Treasuries market. The Federal Reserve, Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) are…
Read MoreUltra rich turn Vietnam into a new hot spot for luxury yachts
[BRISBANE] After making a fortune in coal mining and thermal power with his Dong Hai, Pham Van Toan wanted to try something different and shifted his investments towards luxury ventures three years ago. That includes investing in a hotel with nearly 600 rooms, acquiring a golf course and buying a superyacht, which has been his…
Read MoreAmazon’s corporate workforce may shrink as AI takes over routine tasks
The company is using GenAI across internal operations to enhance efficiency and customer experience, Andy Jassy says Published Wed, Jun 18, 2025 · 07:47 AM [BENGALURU] Rollout of generative artificial intelligence (AI) and agents will reduce Amazon’s total corporate workforce in the next few years, Andy Jassy, CEO of the online retailer said in a…
Read MoreUS: Stocks drop on growing worries over Middle East
The Fed is expected to keep interest rates steady as it eschews interest rate cuts for now while monitoring the effects of Trump’s tariffs on inflation Published Wed, Jun 18, 2025 · 06:05 AM [NEW YORK] Wall Street stocks fell on Tuesday (Jun 17) after US President Donald Trump hardened his rhetoric on the fighting…
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