Posts by Stephanie Irvin
Dollar-store billionaire poised to emerge from Malaysia IPO
[KUALA LUMPUR] A discount chain with signature red storefronts has drawn legions of Malaysians looking for good deals – and made its founder a billionaire. Eco-Shop Marketing, which operates more than 350 dollar stores across Malaysia, is on track to complete its initial public offering (IPO) in Kuala Lumpur on Friday (May 23) – the…
Read MoreSingtel initiates its first share buyback programme of up to S$2 billion; incorporates cloud business
The buyback will be delivered over the course of three years until financial year 2028 and involves the purchase of shares in the open market that will subsequently be cancelled [SINGAPORE] Local telecommunications giant Singtel on Thursday (May 22) has authorised its first share buyback programme of up to S$2 billion, as part of the…
Read MoreEstee Lauder, L’Oreal suffer as China’s duty-free spending falls
UNABLE to travel overseas during the Covid-19 pandemic, Chinese consumers sparked a shopping boom in the southernmost province of Hainan, lured by the tropical island’s plethora of duty-free shopping malls. Fast forward to today and the travel-retail sector in Hainan is in a 14-month slump with little sign of a turnaround. Duty-free sales dropped 10.8…
Read MoreGoogle brings ads to AI search in ChatGPT battle
[SAN FRANCISCO] Google said on Wednesday it is beginning to weave advertisements into its new AI Mode for online search, a strategic move to counter the challenge posed by ChatGPT as the primary source for online answers. The integration of advertising has been a key question surrounding the immense popularity of generative artificial intelligence chatbots,…
Read MoreWhy Every Young Entrepreneur Should Consider VPS Hosting
Deanna Ritchie Deanna Ritchie is a managing editor at Under30CEO. She has a degree in English Literature. She has written 2000+ articles on getting out of debt and mastering your finances. Deanna has also been an editor at Entrepreneur Magazine and ReadWrite.
Read MoreUS: Wall Street opens lower with focus on Trump’s tax Bill
Published Wed, May 21, 2025 · 09:42 PM [NEW YORK] Wall Street’s main indexes opened lower on Wednesday (May 21), as investors awaited the outcome of a pivotal debate around US President Donald Trump’s tax-cut bill that has fanned concerns about the country’s growing debt. The Dow Jones Industrial Average fell 322.8 points, or 0.76…
Read MoreDBS’ Tan Su Shan ranked sixth in Fortune’s list of the most powerful women in business
[SINGAPORE] Tan Su Shan, chief executive officer of DBS, has been named the sixth most powerful woman in business in Fortune magazine’s 2025 100 Most Powerful Women in Business list. In the top 10, she is the only Singaporean and one of two Asian-based business leaders alongside Huawei chief financial officer Meng Wanzhou, who ranked…
Read MoreMicrosoft-backed Builder.ai set for bankruptcy after cash seized
[LONDON] Builder.ai, the British artificial intelligence startup backed by Microsoft and the Qatar Investment Authority, is filing for bankruptcy after the chief executive officer said a major creditor had seized most of its cash. Viola Credit, which provided US$50 million in debt to the software firm last year, has seized US$37 million from Builder.ai’s accounts,…
Read MoreTikTok Shop US Employees told to work from home as layoffs loom
[SEATTLE] TikTok told US e-commerce staff to work from home on Wednesday (May 21) while awaiting emails regarding “difficult decisions,” suggesting the social media company is preparing to cut jobs. The Chinese-owned company is considering ways to “create a more efficient operating model,” Mu Qing, who took over TikTok Shop in the US last month,…
Read MoreCATL’s 1.8-billion euro German plant boosts China’s invest-abroad bet
[SINGAPORE/BERLIN] More than two years ago on the outskirts of a medieval German town, China’s biggest EV battery company placed a 1.8-billion euro (S$2.6 billion) bet on the future of global trade. The decision by Contemporary Amperex Technology to open a sprawling factory in central Germany – its first outside China – symbolised President Xi…
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