Posts by Yurie Miyazawa
Mapletree Industrial Trust manager’s CFO to become CEO in July
THE chief financial officer of Maple Industrial Trust : ME8U 0% (MIT)’s manager, Lily Ler, will replace Tham Kuo Wei as chief executive officer and executive director of the Reit’s manager. In bourse filings on Thursday (May 30), the Reit’s manager said Tham will resign and be transferred to Mapletree Investments – the Reit’s sponsor…
Read MoreStruggling boot brand Dr Martens to cut costs, invest in marketing
Dr Martens’ laid out plans for cost-cutting measures on Thursday (May 30), as the struggling British bootmaker faces mounting pressure to bolster its finances amid dwindling demand in the United States, its biggest market. Inflation and economic uncertainty has hurt consumers’ appetite for more expensive items like the brand’s US$170 classic leather lace-up boots. “There’s…
Read MoreJPMorgan to grow India headcount by 5%-7% for next few years
JPMorgan Chase plans to grow its headcount in India by 5 per cent-7 per cent annually over the next few years, a senior executive told Reuters, as the Wall Street bank doubles down in one of the hottest markets globally for talent to support international operations. The New York-based lender already employs about 55,000 people,…
Read MoreInvestors relieved BHP walked away from US$49 billion Anglo takeover deal
BHP Group investors welcomed the top global miner’s decision to walk away from a US$49 billion plan to take over Anglo-American, which rejected three proposed offers from its bigger rival over the past six weeks. BHP’s decision to withhold a binding bid came after Anglo said it would not grant the Australia-headquartered mining group a…
Read MorePort congestion in Singapore leads to some liners skipping calls here
PORT congestion in Singapore has forced some liners to skip the world’s top transhipment hub, as delays at the city-state have reached “critical levels” of up to seven days, an industry intelligence website wrote. Linerlytica, in a weekly post dated May 28, pointed out that vessels with a total capacity of 450,000 20-foot-equivalent containers were…
Read MoreAsia’s largest reit calls for Hong Kong to resume multi-entry visas from Shenzhen
ASIA’S largest commercial real estate investment trust said Hong Kong authorities should resume issuing multi-entry permits for Shenzhen visitors to boost retail spending. While Hong Kong residents have been increasingly travelling across the border, “we need a two-way flow”, Link Reit chief executive officer George Hongchoy said on Thursday (May 30). Allowing Shenzhen residents to…
Read MoreChina eases rules that could slow world-beating solar boom
CHINA has allayed fears that growing grid congestion could tap the brakes on its record pace of renewable installations, by relaxing limits on how much renewable power can be utilised in energy-rich areas. The move is one of a number of government policies released on Wednesday (May 29) designed to promote clean energy. Others include…
Read MoreVietnam signals readiness to support dong as currency hits lows
THE State Bank of Vietnam (SBV) signalled that it’s ready to defend the dong after the currency slipped to a record low amid bouts of US dollar strength. The central bank will continue monitoring the dong’s exchange rate amid currency fluctuations in the global market, SBV governor Nguyen Thi Hong told the parliament on Wednesday…
Read MoreHSBC is making a Middle East wealth push after hiring 100 bankers
HSBC Holdings is courting private bankers as it seeks to expand its business of catering to the growing number of millionaires and billionaires moving to the Middle East. The British lender already added 100 bankers in 2023 and is looking to hire “opportunistically” in the energy-rich region in the coming months, according to Aladdin Hangari,…
Read MoreAustralia says engaging with Ticketmaster over hacking ‘incident’
AUSTRALIA’S government said on Thursday its cyber security office was “engaging” with US-based Ticketmaster after a hacking group claimed to have accessed the details of 560 million global customers. The well-known hacking group ShinyHunters posted evidence of the hack on the dark web, according to a screenshot shared widely on social media, claiming to have…
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