Posts by Yurie Miyazawa
Singapore flags corporate service providers, real estate among non-bank money laundering risks
CORPORATE service providers, real estate, casinos as well as precious stones and metals are among the non-banking sectors that pose higher money laundering risks to Singapore, indicated the updated Money Laundering National Risk Assessment published on Thursday (Jun 20). The banking sector, which includes wealth management, was assessed to pose the highest money-laundering risk to…
Read MoreSoftBank’s Masayoshi Son is ready for next big bet after hiatus
SOFTBANK Group founder Masayoshi Son declared he’s ready to swing for the fences when he makes his next big tech bet, suggesting the Japanese conglomerate is on the cusp of making a major investment in artificial intelligence (AI). The billionaire warned his next big endeavour could be a big hit or a bad flop –…
Read MoreFrasers Hospitality debuts in Taiwan with over 200-key Taipei serviced apartment
FRASERS Hospitality, a strategic business unit of Frasers Property, announced on Thursday (Jun 20) its entrance into Taiwan with its premium serviced apartment, in partnership with Taiwanese real estate developer Hongtai Group. Fraser Residence Taipei, which will offer more than 200 suites ranging from one to three bedrooms, is due to open in 2027. The…
Read MoreForwards become Malaysia’s favoured tool for boosting the ringgit
MALAYSIA’S central bank has been increasingly using currency forwards to support the ringgit, easing pressure on its foreign-exchange reserves. Bank Negara Malaysia’s net forward FX position widened to negative US$27.7 billion in April – reflecting a record net short position its the forward books – showing a preference for using that avenue to bolster its…
Read MoreGold edges higher as weak US data lifts Fed rate-cut bets
GOLD prices edged higher on Thursday (Jun 20) as lacklustre US economic activity fuelled expectations that the Federal Reserve would cut interest rates this year. Spot gold was up 0.2 per cent at US$2,331.38 per ounce, as at 0126 GMT. US gold futures edged 0.1 per cent lower to US$2,345.00. With recent data showing moderation…
Read MoreFormer hedge fund trader builds US$135 million burrito fortune
WHEN Steven Marks moved to Australia in the early 2000s, he was struck by the quality of Mexican food. It was, in his opinion, dismal. The Long Island native, a veteran of Steven Cohen’s SAC Capital and later Cheyne Capital, was so appalled with the burritos and tacos that he resolved to start his own…
Read MoreCiti sees AI displacing more finance jobs than any other sector
CITIGROUP said artificial intelligence (AI) is likely to displace more jobs across the banking industry than in any other sector as the technology is poised to upend consumer finance and make workers more productive. About 54 per cent of jobs across banking have a high potential to be automated, the bank said on Wednesday (Jun…
Read MoreEurope: Shares lose ground on real estate, tech losses
EUROPEAN shares ended lower on Wednesday (Jun 19), pressured by losses in real estate and technology stocks, while UK stocks were buoyed by metal miners as investors digested its inflation data. The pan-European Stoxx 600 closed down almost 0.2 per cent, with the real estate sector falling 1.2 per cent and technology stocks dropping 1.1…
Read MoreJapan’s stock market revival could hold lessons for Singapore despite fundamental differences
SINGAPORE’S stock market has been languishing in recent years amid low liquidity and a dearth of new listings. This is in stark contrast to Japan’s public market, for example, where fiscal reforms have sparked a resurgence of interest from investors. Japan’s benchmark Nikkei 225 index notably hit a 34-year high earlier this year and has…
Read MoreKitKat maker sees chocolate demand ebbing as cocoa costs creep in
CONSUMERS will probably cut back on chocolate as this year’s historic cocoa rally gradually trickles down to manufacturers and forces them to raise prices, a Nestle executive warned. Cocoa futures have more than doubled this year on the back of a huge global shortage, making it more expensive to produce confectionery. But shoppers are yet…
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