Posts by Yurie Miyazawa
Last money launderer to plead guilty in S$3 billion case gets longest jail term – 16 months
WANG Dehai, one of the 10 foreigners arrested in last August’s anti-money laundering bust, was handed 16 months of jail time on Friday (Jun 7), the longest of the nine sentenced so far. The 35-year-old Cypriot national had pleaded guilty to one charge of possessing a sum of about S$2.3 million from unlawful remote gambling…
Read MoreMeituan prepping Middle East foray while exploring Europe, Asia
MEITUAN is preparing for a potential entry into the Middle East in its first expansion beyond the China region, even as it begins to consider the feasibility of other markets from Europe to South-east Asia. Founder Wang Xing said Meituan was actively exploring new arenas after its success in Hong Kong, but he stressed the…
Read MoreCrypto exchange Kraken is in talks for pre-IPO fundraising round
KRAKEN, one the oldest cryptocurrency exchanges, is considering raising a final funding round ahead of a possible initial public offering (IPO) after receiving inquiries from potential investors during the current digital-asset market rally, according to sources familiar with the matter. The exchange would likely seek to raise more than US$100 million, one of the sources…
Read MoreBoeing Starliner carrying Nasa astronauts reaches International Space Station
BOEING’S space taxi docked with the International Space Station, bringing the spacecraft’s first two passengers to the orbiting laboratory as part of a critical flight test for Nasa. Nasa astronauts Sunita “Suni” Williams and Barry “Butch” Wilmore entered the International Space Station smiling and cheering at 3.46 pm Florida time on Thursday (Jun 6). The…
Read MoreStocks to watch: Nio, Sembcorp
THE following companies saw new developments that may affect trading of their securities on Friday (Jun 7): Nio : NIO 0%: The Shanghai-based electric vehicle maker’s adjusted net loss widened by 18.1 per cent to 4.9 billion yuan (S$911.7 million) in the first fiscal quarter. This comes amid an increase in competition in the EV…
Read MoreUS proposes to boost Internet security, citing Chinese carrier action
THE Federal Communications Commission (FCC) on Thursday (Jun 6) voted to advance a proposal to boost the security of information transmitted across the Internet after government agencies said a Chinese carrier had misrouted traffic. The US telecommunications regulator since 2022 has been studying vulnerabilities that it says threaten the security and integrity of the Border…
Read MoreGameStop surges almost 50% as ‘Roaring Kitty’ teases livestream
SHARES of GameStop surged nearly 50 per cent on Thursday (Jun 6) after the online stock influencer known as “Roaring Kitty” posted on YouTube that he would host a livestream on Friday. Thursday’s surge was the latest in a bout of volatile trading in the struggling videogame seller’s shares that kicked off last month after…
Read MoreUS banks tap complex mortgage product to fight deposit flight risk
US BANKS are ramping up investments in a complex part of the mortgage bond market that offers shorter-term securities, as they cope with the growing risk of their losing deposits amid high rates. Demand from banks is fuelling sales of floating-rate, collateralized mortgage obligations (CMO), which are constructed from simpler mortgage securities. Overall, there were…
Read MoreIPOs in Europe set for handy boost from ECB rate cut, BofA says
THE historic interest rate cut by the European Central Bank on Thursday (Jun 6) might be just the boost the regional market for initial public offerings needs to spur a flurry of deals before the usual summer lull, according to Bank of America. The ECB reduced its key rate from a record high, making its…
Read MoreSteady euro takes ECB rate cut in stride
THE euro wavered in a narrow range on Thursday (Jun 6) after the European Central Bank lowered rates from record highs after months of anticipation, ticking higher then briefly slipping with the outcome of the ECB meeting well priced in. The euro was up 0.04 per cent at US$1.0872, not far from a two-and-a-half month…
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