Posts by Stephanie Irvin
Oil gains on supply concerns, investors await July Opec+ output decision
[NEW YORK] Oil prices gained more than 1 per cent on Wednesday on supply concerns as Opec+ agreed to leave their output policy unchanged and as the US barred Chevron from exporting Venezuelan crude. Investors previously anticipated members of Opec+ would agree to a production increase later this week. Brent crude futures settled up 81 cents,…
Read MoreRGE, TotalEnergies to develop solar power plant with battery storage in Indonesia
[SINGAPORE] RGE and TotalEnergies on Wednesday (May 28) have signed a co-investment agreement to jointly develop a solar power plant with battery energy storage system in Riau Province, Indonesia. The utility-scale project will be developed through their equally owned joint venture Singa Renewables. As part of the Singapore-Indonesia electricity import framework, it will provide both…
Read MoreIndonesia antitrust agency finds risk of monopoly from TikTok’s Tokopedia takeover
The agency says it found rising market concentration and warned of possible post-acquisition price hikes due to increased dominance Published Wed, May 28, 2025 · 08:17 PM [JAKARTA] Indonesia’s antitrust agency on Wednesday (May 28) said last year’s takeover of the country’s biggest e-commerce platform Tokopedia by TikTok carried a risk of monopoly. TikTok, owned…
Read MoreCDL, MCL Land marketing Piccadilly Galleria retail podium for sale at lower price of S$67.5m
[SINGAPORE] Piccadilly Grand’s retail podium is up for sale for S$67.5 million, at a lower price after an earlier expression of interest exercise closed in November 2024. The ground-floor retail podium, known as Piccadilly Galleria, is part of a 99-year leasehold integrated development developed by City Developments Ltd (CDL) and MCL Land. The project is…
Read MoreNissan offers buyouts to US workers, halts global pay rises, internal emails show
[TOKYO] Japan’s Nissan has started offering buyouts to US workers and has suspended merit-based wage increases worldwide, internal emails reviewed by Reuters showed, as the automaker expands cost cuts amid weak performance in key markets. CEO Ivan Espinosa announced a new round of cost cuts this month that include closing seven production sites globally and…
Read MoreUK’s Thames Water fined £122.7 million over sewage and dividend breaches
[LONDON] Britain’s Thames Water, on the brink of financial collapse, will have to pay a record £122.7 million (S$213.3 million) fine for breaching its legal obligations over sewage treatment and dividend payments, regulator Ofwat said on Wednesday (May 28). The watchdog, which had previously issued a £104.5-million-penalty, added an additional £18.2 million to the fine…
Read MoreChina’s answer to World Bank plans to open Singapore, HK offices
[BEIJING] The Asian Infrastructure Investment Bank is looking to open new offices in Hong Kong and Singapore, according to people familiar with the matter, in a plan that would mark its biggest expansion since beginning operations in Beijing almost a decade ago. The multilateral lender, which had more than US$57 billion in assets at the…
Read MoreNissan plans one trillion yen funding with backing from UK government
[TOKYO] Nissan Motor, facing a huge loan repayment wall next year, is seeking to raise more than one trillion yen (S$8.9 billion) from debt and asset sales to keep operations on track, according to documents seen by Bloomberg News. The struggling Japanese automaker plans to issue as much as 630 billion yen in convertible securities…
Read MoreStarship megarocket blows up over Indian Ocean in latest bumpy test
[SOUTH PADRE ISLAND, United States] SpaceX’s prototype Starship exploded over the Indian Ocean on Tuesday, capping another bumpy test flight for the rocket central to billionaire Elon Musk’s dream of colonising Mars. The biggest and most powerful launch vehicle ever built lifted off around 6.36 pm (2336 GMT) from the company’s Starbase facility, near a…
Read MoreCapitaLand Ascendas Reit to buy Tai Seng data centre, Science Park building for S$700.2 million
[SINGAPORE] CapitaLand Ascendas Real Estate Investment Trust (Clar) has entered conditional agreements to acquire two prime properties to expand its portfolio in Singapore, particularly in the technology sector, the manager said on Wednesday (May 28). The two properties are a Tier III colocation data centre at 9 Tai Seng Drive and a premium business space…
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