Economists are split on whether the Monetary Authority of Singapore will change its policy stance in April amid subdued inflation pressure. Four of seven economists see the central bank shifting to a tightening stance next month, according to a Bloomberg survey conducted March 13-16. The MAS is the
Hock Tan had a trick for winning over skeptical investors. When people asked why he was so confident that Washington would approve his $117 billion takeover of Qualcomm Inc., Tan would take out his cell phone and show them a photo of himself with U.S. President Donald Trump. Boy, was Tan wrong.
Ships sit docked while unloading freight at the Tanjong Pagar Container Terminal, in Singapore. Singapore’s non-oil domestic exports slumped the most since October 2016, signaling growth risks to one of Asia’s most trade-dependent economies.
A revolt by Noble Group Ltd.’s shareholders has emerged as one of the major threats to the struggling trading house’s $3.5 billion restructuring deal after it agreed terms with a group of hedge fund creditors. If shareholders vote against the deal, the company will seek to implement the restructuring
Aboitiz Equity Ventures Inc., a Philippine conglomerate mainly invested in power, is ready to spend about 200 billion pesos ($3.8 billion) in upgrading the Southeast Asian country’s rickety and overcrowded airports. “Airports is a play on consumer growth, on their increasing financial capability and
It’s a matter of when, not if, the Bitcoin bubble will pop, according to Allianz Global Investors. The cryptocurrency is worthless, even if blockchain technology could bring significant benefits to investors, said the investment arm of Europe’s biggest insurer, which manages almost 500 billion euro.
The Philippine state-run pension fund for private sector workers will invest overseas for the first time and buy more local stocks to boost returns after President Rodrigo Duterte delivered on a campaign pledge to increase pensions. The 500 billion peso ($9.6 billion) Social Security System may invest
Singapore intends to treat fake news with the same comprehensive approach as it does illicit drugs while allowing space for a “robust” discourse, according to a cabinet minister involved in discussions on new regulations. Janil Puthucheary, senior minister of state for communications and information
Singapore’s Golden Gate Ventures is raising a $100 million third fund to continue investing in Southeast Asia’s burgeoning market for e-commerce, payments and mobile apps, according to a person familiar with the matter. Founded by former Silicon Valley entrepreneurs Vinnie Lauria, Jeffrey Paine and
The Philippine central bank’s female deputy in charge of supervising the nation’s lenders has a message for their chief executives: Get more women onto your boards. “Right now, we have a lot of women in big banks, but almost none of them are at the top,” Chuchi Fonacier, 57, said in an interview at
It may be International Women’s Day on Thursday, but that isn’t stopping the Philippine government from moving to impeach one of its highest-ranking women. Maria Lourdes Sereno, the first female chief justice in the Southeast Asian nation, has been an outspoken critic of Rodrigo Duterte’s administration
Manuel A. Roxas, left, and Manuel L. Quezon, former presidents of the Philippines, are displayed on a one hundred, left, and twenty peso banknotes respectively. One bright spot from the Philippine peso’s slump to an 11-year low against the dollar can be found among the nation’s more than 10 million
The rise of the smartphone almost broke Tze-Mon Chuang’s company – Elon Musk provided its salvation. Singapore-based Memtech International Ltd. has more than doubled its market value in the past year thanks to tie-ups with the likes of Tesla Inc. The manufacturer is a key supplier to Musk’s pioneering
This week’s visit by a U.S. aircraft carrier to Vietnam – the first since the war – highlights a growing relationship between the former enemies that has blossomed even as the Philippines, a long-time American ally, gets closer to China. The USS Carl Vinson arrived off the central city of Danang on
The Philippines doesn’t need to raise interest rates at this point, Finance Secretary Carlos Dominguez said, defying calls from a growing number of economists who say the central bank is moving too slowly to act against inflation risks. “To be preemptive, which is to take action before it’s needed,
Noble Group Ltd. handed its outgoing co-Chief Executive Officer Jeff Frase a remuneration package worth about $20 million last year, even as the commodity trader slumped to a record loss of almost $5 billion.
This week, Standard Chartered Plc CEO Bill Winters restored a dividend after a more than two-year break. China Construction Bank Corp.’s 0.278 yuan payout per share will probably get increased to 0.29 yuan when the company announces full-year results later this month, analyst forecasts compiled by Bloomberg
A venture of Megawide Construction Corp. and GMR Infrastructure Ltd. submitted a $3 billion proposal to upgrade and expand the Philippine capital’s 70-year-old airport, challenging a $6.7 billion bid from a group that includes billionaires John Gokongwei and Lucio Tan. The GMR-Megawide venture, which
The Singapore government isn’t accepting the 9 percent salary increase recommended by a review committee, Deputy Prime Minister Teo Chee Hean said in parliament Thursday. After the last review, Prime Minister Lee Hsien Loong’s annual income fell 36 percent to S$2.2 million ($1.7 million). By comparison
In a sign of China’s growing influence in the Philippines, President Rodrigo Duterte’s political party is holding a two-day summit in Manila to develop policies that imitate the Communist Party’s anti-poverty programs. Duterte’s ruling PDP-Laban party wants to follow China’s Communist Party in boosting
Dancers perform a dragon dance on the floor of the Philippine Stock Exchange during a ceremony to open the PSE’s new building in Taguig City. President Rodrigo Duterte’s decision to award a new telecommunications license has sparked a frenzy as speculators bid up the prices of once-forgotten penny stocks
Shingo Katori commanded the adoration of millions of fans across Asia as a member of SMAP, one of Japan’s most successful boy bands. After decades as a ubiquitous TV presence, he finally decided in November it was time to get an Instagram account. A small step for one celebrity highlights a sea change
China’s nearly 30-year experiment with time-limited government is officially coming to an end. The Chinese Communist Party has suggested amending China’s constitution to allow President Xi Jinping to serve more than two five-year terms. What’s remarkable, rather, is that from the time Deng Xiaoping
Sea Ltd., operator of Southeast Asia’s biggest gaming platform, has had a rough start as a public company. The much-heralded Singapore-based company raised about $1 billion in an October initial public offering led by Goldman Sachs Group Inc., Morgan Stanley and Credit Suisse Group AG. When the company
Wage growth could remain relatively strong in the coming quarters due to a robust economy, said Chia Shuhui, senior analyst at BMI Research in Singapore. Workers in the manufacturing industry are getting some of the biggest increases with wages rising more than 9 percent every month since April. “More