Posts by Yurie Miyazawa
7-Eleven billionaire heirs would see big payday from shock offer
THE billionaire family behind Seven & i Holdings, owner of 7-Eleven convenience stores, is poised for a massive payday if they support what would be the biggest foreign takeover of a Japanese company. A vehicle owned by the descendants of Masatoshi Ito is the second-largest shareholder of Seven & i, with an 8.1 per cent…
Read MoreLatest semiconductor results show that the sector is still stumbling
SEVERAL manufacturing companies that serve the technology industry delivered disappointing results last week, underscoring the fragility of the semiconductor sector’s recovery. The most dramatic earnings decline came from AEM Holdings, which makes semiconductor test equipment. The company’s earnings for the first half of the year fell 95 per cent to S$895,000, from S$19.7 million in the year-ago period.…
Read MoreLatest semiconductor results show that the sector is still stumbling
SEVERAL manufacturing companies that serve the technology industry delivered disappointing results last week, underscoring the fragility of the semiconductor sector’s recovery. The most dramatic earnings decline came from AEM Holdings, which makes semiconductor test equipment. The company’s earnings for the first half of the year fell 95 per cent to S$895,000, from S$19.7 million in the year-ago period.…
Read MoreBankers charged by Singapore were stars of race for China’s rich
LESS than two years out of college, Wang Qiming was making waves within Citibank Singapore by bringing in millions in deposits from his rich clients. At Swiss private bank Julius Baer in Singapore, Liu Kai was riding high. The young executive director was the envy of rivals that were trying to win more business from…
Read MoreEx-Citi, Julius Baer bankers charged in money laundering case were stars in the race for China’s rich
LESS than two years out of college, Wang Qiming was making waves within Citibank Singapore by bringing in millions in deposits from his rich clients. At Swiss private bank Julius Baer in Singapore, Liu Kai was riding high. The young executive director was the envy of rivals that were trying to win more business from…
Read MoreGlobal digital economy will hit US$16.5 trillion by 2028: report
RESEARCH and advisory company Forrester released its report, Global Digital Economy Forecast, 2023-2028, on Monday (Aug 19) revealing that the digital economy will reach US$16.5 trillion and capture 17 per cent of global GDP by 2028. The study measures the size and growth of the digital economy across areas such as tech spend, retail and travel e-commerce,…
Read MoreSiemens unit consortium bags $400 million Cross Island Line power supply contract from LTA
The line will be Singapore’s eighth MRT line, serving the eastern, western and north-eastern areas of the island TRANSPORT solutions company Siemens Mobility has secured a contract worth S$400 million from the Land Transport Authority, it said on Monday (Aug 19). The company will lead a consortium with Concord Corporation to design, supply, install, test…
Read MoreAsia currencies hit seven-month high on ‘Goldilocks’ US scenario
ASIAN currencies rallied to the highest in seven months as ebbing US recession concern, bets on Federal Reserve rate cuts next month and an improving domestic backdrop lifted sentiment in the region. The Bloomberg Asia Dollar Index gained as much as 0.6 per cent on Monday (Aug 19) to the highest since January. The South…
Read MoreMemiontec husband and wife co-founders out on bail amid CAD probe
The company’s nominating committee assesses that the pair are suitable to remain as directors THE co-founders of water treatment company Memiontec have been released on bail after being interviewed by the Commercial Affairs Department (CAD). The interview was part of the CAD’s investigations into a potential offence under Section 201 of the Securities and Futures…
Read MoreX says it is closing operations in Brazil due to judge’s content orders
MEDIA platform X said on Saturday (Aug 17) it would close its operations in Brazil “effective immediately” due to what it called “censorship orders” by Brazilian judge Alexandre de Moraes. X, owned by billionaire Elon Musk, claims Moraes secretly threatened one of the company’s legal representatives in the South American country with arrest if it…
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