Posts by Yurie Miyazawa
TikTok to shut down its music streaming business in November
TIKTOK plans to discontinue its music service in November, ending a years-long experiment to compete with Spotify Technology and Apple. TikTok Music will go offline on Nov 28 and customer data will be deleted, the music division said in a post on its website. Users were told to transfer playlists to other services no later…
Read MoreSTI cedes gains, bucks regional trend
Across the broader market, advancers outnumber decliners 405 to 219, as 1.4 billion shares worth S$1.7 billion change hands THE Straits Times Index (STI) faltered on Tuesday (Sep 24), as regional indices posted gains at the end of the trading day. The STI was down 0.4 per cent or 15.8 points from the highs of…
Read MoreUBS CEO says Asia business still key amid ‘less linear’ growth
UBS Group is reiterating its commitment to the Asia-Pacific region and particularly to China, as the bank still sees it as a key driver for growth, according to chief executive officer Sergio Ermotti. “The two engines of growth for us which are going to deliver superior prospects are still the US and Asia,” Ermotti said…
Read MoreCredit Agricole in talks to invest in Guangzhou Auto unit
The transaction will give the leasing business a valuation of about US$600 million after completion CREDIT Agricole is in advanced talks to invest in Guangzhou Automobile’s (GAC) financial leasing unit, sources said, as it seeks to tap China’s electric-vehicle market – the biggest in the world. The French lender’s consumer finance unit, Credit Agricole Personal…
Read MoreSaudi Aramco plans two-tranche US dollar Islamic bonds, term sheet says
STATE oil giant Saudi Aramco is planning a five and 10-year US dollar-denominated sukuk, or Islamic bonds, deal, according to a term sheet reviewed by Reuters on Tuesday (Sep 24). Banks will hold investor calls starting on Tuesday, the term sheet said. Aramco, the world’s top oil exporter, has long been a cash cow for…
Read MoreGeely plans to build cars in Vietnam in US$170 million investment
GEELY Auto is planning to assemble vehicles in Vietnam as part of a series of commitments worth nearly US$170 million to expand production in the South-east Asian country. The Chinese auto brand will build a plant in Vietnam capable of producing 75,000 cars annually in a joint venture with Hanoi-based Tasco Joint Stock Company, Geely…
Read MoreChina’s Geely plans to build cars in Vietnam in US$170 million investment
GEELY Auto is planning to assemble vehicles in Vietnam as part of a series of commitments worth nearly US$170 million to expand production in the South-east Asian country. The Chinese auto brand will build a plant in Vietnam capable of producing 75,000 cars annually in a joint venture with Hanoi-based Tasco Joint Stock Company, Geely…
Read MoreThailand’s car production drops 20.56% y/y in August, federation says
CAR production in Thailand fell 20.56 per cent in August from a year earlier, the Federation of Thai Industries said on Tuesday.
Read MoreAsia: Hong Kong, Shanghai rally on China stimulus on mixed day for markets
HONG Kong and Shanghai stocks rallied on Tuesday after China unveiled fresh stimulus measures as the country’s leaders struggle to kickstart growth in the world’s number two economy. After a string of weak data that has fanned worries about the financial health of the country and led to calls for more help to boost growth,…
Read MoreGold prices steady after Fed policymakers back rate cuts
GOLD prices held their ground on Tuesday (Sep 24), after hitting an all-time high in the previous session, following comments by US Federal Reserve officials that backed additional interest rate cuts in the future. Spot gold was steady near US$2,625.52 per ounce, as at 0023 GMT. Bullion hit a record high of US$2,635.29 on Monday. …
Read More