Posts by Yurie Miyazawa
Singapore’s banking hub has a busy corner where cash is still king
[SINGAPORE] In the heart of Singapore, a financial hub where billions of dollars zip around the world over computer screens in nanoseconds, there’s a crowded building where cash still reigns. Six days a week, hundreds of people line up in a rundown mall at Raffles Place to buy and sell hard currency at one of around…
Read MoreArcelorMittal drops plans for green steel in Germany due to high energy costs
Published Fri, Jun 20, 2025 · 07:06 AM [BERLIN] ArcelorMittal, the world’s second-largest steelmaker, said on Thursday it had dropped plans to convert two plants in Germany to carbon-neutral production because the country’s energy costs were too high. The decision to turn down 1.3 billion euros (S$1.9 billion) of public subsidies is the latest blow…
Read MoreEurope: Shares dive as Middle East tensions, US involvement fears weigh
EUROPEAN shares skidded to an over one-month low on Thursday as escalating Middle East tensions and fears over potential US involvement rattled investors. The pan-European Stoxx 600 closed down for the third consecutive day with a 0.83 per cent drop to 535.86, its lowest level since May 9. Trading volumes remained thin as US markets were shut…
Read MoreTrump extends deadline for TikTok sale by another 90 days to Sep 17
[WASHINGTON] US President Donald Trump announced on Thursday (Jun 19) that he has given social media platform TikTok another 90 days to find a non-Chinese buyer or be banned in the United States. “I’ve just signed the Executive Order extending the Deadline for the TikTok closing for 90 days (September 17, 2025),” he posted on his Truth Social platform,…
Read MoreEU countries back winemaker support plan, with ‘low-alcohol’ tweak
Published Thu, Jun 19, 2025 · 08:53 PM [BRUSSELS] EU countries Thursday (Jun 19) backed plans by Brussels to give winemakers a leg up – with some tweaks, including reducing labelling requirements for exports and renaming “alcohol-light” products “low-alcohol”. The European Commission in March unveiled a raft of measures to help Europe’s wine sector face…
Read MoreChevron seeks buyers for 50% stake in Singapore refinery: sources
[SINGAPORE] US oil major Chevron has sought non-binding bids for the sale of its 50 per cent stake in Singapore Refining Company (SRC), including from joint venture partner PetroChina, eight sources familiar with the matter told Reuters. Chevron is also gauging interest for the sale of other assets in Asia, including terminal and fuel storage…
Read MoreGrab-GoTo merger talks face Indonesian regulatory hurdles: sources
[JAKARTA/SINGAPORE] Singapore-based Grab’s plan to acquire Indonesia’s GoTo to create a dominant South-east Asian ride hailing and food delivery company has run into regulatory hurdles, three sources said, casting a cloud over a potential deal. Reuters reported in May Nasdaq-listed Grab was looking to strike a deal to buy smaller rival GoTo in the second…
Read MorePrudential, AIA still offering pre-authorisation at Mount Elizabeth hospitals despite Great Eastern’s shock move
[SINGAPORE] Insurers in Singapore are not following Great Eastern’s footsteps to suspend pre-authorisation certificates for admission into Mount Elizabeth Hospital and Mount Elizabeth Novena Hospital. Prudential and AIA told The Business Times that they are still issuing pre-authorisation certificates for Mount Elizabeth hospitals. In a surprise move on Tuesday (Jun 17), Great Eastern announced the…
Read MoreChina’s EV powerhouse BYD accelerates into Europe’s heartland
[LONDON] A synchronised flock of drones lit up the sky above Rome’s Olympic Stadium last month to mark the European launch of the latest electric hatchback from Chinese carmaker BYD. Against the blackened night, the glowing orbs outlined an image of the new Dolphin Surf in front of classic Roman landmarks such as the Colosseum,…
Read MoreMicrosoft prepared to abandon high-stakes talks with OpenAI: report
The startup requires approval from the tech giant to complete its transition into a public-benefit corporation, which it believes will make it easier to raise more capital Published Thu, Jun 19, 2025 · 11:50 AM [BENGALURU] Microsoft is prepared to abandon its high-stakes negotiations with OpenAI over the future of its alliance, the Financial Times…
Read More