Posts by Yurie Miyazawa
Hong Kong eyes crypto derivatives, margin lending in digital asset push
HONG Kong is considering approving derivatives and margin lending in virtual assets for some investors, its financial regulator said on Wednesday (Feb 19), as the city seeks to boost its competitiveness as a digital assets hub and attract capital. Hong Kong first drew up a plan to become a virtual asset trading centre in 2022…
Read MoreSingapore evolves to meet commodity sector’s changing needs amid trade tensions: EnterpriseSG’s Cindy Khoo
IN A much more complex global trade environment, Singapore will focus on growing new trade flows, specialised trade expertise and technologies to meet the commodity sector’s changing needs, said Cindy Khoo, managing director of Enterprise Singapore (EnterpriseSG). In her keynote address at Commodity Trading Week Asia Pacific 2025 on Wednesday (Feb 19), Khoo emphasised that…
Read MoreFTX estate begins to repay bankrupt exchange creditors in cash
The initial distributions are being made through crypto companies BitGo and Kraken THE estate of bankrupt crypto exchange FTX has begun distributing cash to creditors more than two years after Sam Bankman-Fried’s trading platform imploded. Customers should start to see the funds within one to three business days, the estate said on Tuesday (Feb 18).…
Read MoreFTX refunds: Temasek, BlackRock, SoftBank, Sequoia, Tom Brady, Shaquille O’Neal likely beneficiaries
AFTER more than two years of hand-wringing, creditors of bankrupt crypto exchange FTX are heaving a sigh of relief as the trading platform’s estate starts paying cash back to creditors this week. FTX reportedly owed creditors about US$11.2 billion (S$15 billion) but has between US$14.5 billion and US$16.3 billion to distribute to customers and non-governmental…
Read MoreUOB hits a fresh high, with Singapore’s STI reaching yet another record
At the open, the counter edges up 1.3 per cent or S$0.50 to an all-time high of S$39.15 SHARES of UOB rose to a new high on Wednesday (Feb 19) morning, after it announced the establishment of a S$3 billion capital distribution package in tandem with its fourth-quarter results. At the open, the counter edged…
Read MoreNorinchukin CEO plans to resign after massive bond losses
A government panel of experts has urged Norinchukin to diversify its bond-heavy portfolio and bring in more outside talent NORINCHUKIN Bank chief executive officer Kazuto Oku plans to resign to take responsibility for the Japanese lender’s massive losses from wrong-way bets on foreign bonds, according to a source familiar with the matter. Oku, 65, will…
Read MoreKFC shifts US headquarters from Kentucky to Texas
FRIED chicken restaurant giant KFC will be moving its US headquarters from Louisville, Kentucky, to Plano, Texas, its parent company said on Tuesday. The shift comes as part of a plan for parent firm Yum! Brands to have two brand headquarters in the United States, one in Texas and the other in California. “This strategic…
Read MoreFord cuts bonuses for half of middle managers
FORD Motor is eliminating stock award bonuses for about half of its middle managers in an effort to boost performance as the automaker confronts declining profits and high costs. Ford has told employees roughly half of middle management will not get stock award bonuses, which are typically granted in March and vest over three years.…
Read MoreCordlife expects to be in the red for FY2024; ‘no assurance’ of profitability in FY2025
PRIVATE cord-blood bank Cordlife expects to post a loss for the 2024 fiscal year due to the financial fallout from lapses discovered in the storage of its cord-blood units two years ago. In a bourse filing on Tuesday (Feb 18), the company said that the expected loss, which is based on a preliminary assessment of…
Read MoreBudget 2025: Tax incentives to beef up equities market could have ‘limited impact’, say industry experts
The government will introduce three tax incentives targeting corporate listings, fund manager listings and fund managers’ qualifying income arising from funds investing substantially in Singapore-listed equities. The moves are part of the first set of measures developed by the MAS equities market review group, chaired by Second Minister for Finance Chee Hong Tat. SINGAPORE will…
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