JAKARTA A twin-engine Indonesian police plane went missing on Saturday with 15 people on board en route to the island of Batam, south of Singapore, police said. The plane is thought to have crashed between the islands of Mensanak and Sebangka or Gentar, a police report obtained by Reuters said. A search team recovered items apparently identified as being from the missing aircraft, the report said. No […]
Everyone wants to know when fully self-driving cars will be ready for the road. The companies developing the technology usually give a timeline of several years to decades away. Automotive parts manufacturer Delphi and Mobileye are no different, and during a media roundtable this week in San Francisco, Delphi’s VP of services, Glen DeVos, envisioned a long-term timeframe for the widespread use of the technology. […]
By Aradhana Aravindan and Marius Zaharia | SINGAPORE SINGAPORE A Singapore minister said on Friday the threat of an extremist attack was higher now than earlier this year as hardline Islamists are increasingly pushing their agenda in neighbouring Indonesia. Law and Home Affairs Minister Kasiviswanathan Shanmugam, speaking to the Foreign Correspondents Association in Singapore, did not specify whether the threat had increased just in the city state […]
By Anshuman Daga and Marius Zaharia | SINGAPORE SINGAPORE Singapore’s central bank imposed penalties on the local units of U.K.-based Standard Chartered (STAN.L) and private bank Coutts for money laundering breaches related to Malaysia’s scandal-tainted 1MDB fund and said it was nearing the end of its probes. The penalties – of S$5.2 million ($3.65 million) and S$2.4 million, respectively – were the latest punitive measures taken by […]
Tim Leissner, the former star dealmaker for Goldman Sachs in Southeast Asia, is to be banned from Singapore’s securities industry for 10 years over breaches relating to the multibillion-dollar scandal at Malaysia’s troubled state investment fund 1MDB, while Standard Chartered and Coutts have both been fined. Mr Leissner, who joined Goldman in Asia in 1998 and helped raise $6bn for 1MDB with three bond issuances, is being […]
By Greg Torode and Marius Zaharia | HONG KONG/SINGAPORE HONG KONG/SINGAPORE As the impounding of Singaporean troop carriers in Hong Kong exposes rising tensions between China and Singapore, the Lion City is unlikely to budge on core security interests concerning Beijing – its military relationship with Taiwan, worries over the South China Sea and its hosting of the U.S. military. Singaporean officials, retired military officers and analysts […]
By Roslan Khasawneh | SINGAPORE SINGAPORE Oil prices slipped on Friday as some investors opted to cash out after Brent touched 16-month a high on Thursday, with optimism over this week’s OPEC-Russia accord on cutting output giving way to questions on the “sticking point” of implementing the deal. International Brent crude oil futures LCOc1 were trading at $53.36 per barrel at 0446 GMT, down 58 cents, or […]
Communication is broken, according to Twilio’s VP of Product Management Patrick Malatack, who thinks the root of the problem is that businesses are overlooking the fact that their customers are human. Speaking at StartCon in Sydney, Malatack said there’s a belief among businesses that personalised communication experiences are not scalable, that you can’t humanise communications and serve a wide customer base at the same time. “That’s no […]
Saxo Bank awarded multiple accolades by FX Week, Finance Magnates, HFM Asia Hedge Fund Services and Global Finance 01 December 2016 Saxo Bank, the online multi-asset trading and investment specialist, today announces that it has won Best Prime of Prime House in FX Week’s Best Banks Awards and Best Forex Broker and Best Prime of Prime/Retail Liquidity Provider in the Finance Magnates Awards. Recognized by industry experts […]
By Jacob Gronholt-Pedersen | COPENHAGEN COPENHAGEN Maersk Line, the world’s biggest shipping company, is to buy smaller rival Hamburg Süd, joining a wave of M&A in the industry just over two months after the Danish company revealed plans to bolster its transport operations. The deal, announced by parent A.P. Moller-Maersk (MAERSKb.CO) on Thursday, is the group’s first full takeover in more than a decade and highlights a […]
Yang Liwei, China’s first astronaut, has revealed that he heard a mysterious knock while alone in a tiny spacecraft during his maiden flight in space. Mysterious Knocking Sound In an interview, Yang said that he recalled hearing something like somebody knocking on the body of the spaceship during his first flight in space in 2003. He compared this sound to somebody knocking on an iron bucket using […]
By Saikat Chatterjee | HONG KONG HONG KONG China’s factories notched their strongest growth in activity in two years and Japanese firms’ order books rose in November, masking concern about the protectionist leanings of U.S. President-elect Donald Trump and an OPEC-induced oil price rally. Factory surveys produced stronger purchasing manager index (PMI) numbers in China, Taiwan and Vietnam, and while activity in Japan’s factories was still growing […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices shot up more than 12 percent, smashing trading volume records, after producer club OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned prices could recede as other producers stand by to fill the gap. The Organization of the Petroleum Exporting Countries (OPEC)agreed on Wednesday its first oil output reduction since […]
30 November 2016 Dubai: Emirates NBD, a leading bank in the region, was named ‘Banking and Finance Company of the Year’ at the prestigious Arabian Business Achievement Awards held yesterday (Monday, November 28, 2016). The bank was recognised for its pioneering efforts toward the digitisation of banking as well as its resilient performance in the past year. The Arabian Business Achievement Awards are adjudicated by an independent judging […]
Source: GSMA Singapore’s three mobile operators have announced plans to support a global authentication standard that will allow their customers to access online services with their mobile number. In a joint statement released Tuesday, M1, StarHub, and Singtel said they would adopt the GSMA authentication standard, Mobile Connect, which would create a single digital user identity. This would enable their mobile customers to access supporting services including […]
Vocus Communications has said it will be investing more in data analytics and digitising its customer service processes over the next year in order to continue competing in the telecommunications landscape. “This year, we have decided to invest in our data analytics capability, taking advantage of the forced shift from copper to fibre occurring over the next few years in both Australia and New Zealand,” Vocus chair […]
By J.R. Wu | ITU ABA, South China Sea ITU ABA, South China Sea Taiwan held rescue drills on Tuesday off the coast of its sole outpost in the Spratly Islands of the South China Sea, but the biggest claimant in the disputed area kept uncharacteristically quiet. China and self-governed Taiwan seldom see eye to eye, but in responding to Taipei’s latest assertion of sovereignty over Itu […]
By Christopher Johnson | LONDON LONDON Oil prices slipped on Tuesday on signs that leading oil exporters were struggling to agree a deal to cut production to reduce global oversupply. The Organization of the Petroleum Exporting Countries will meet in Vienna on Wednesday aiming to implement an agreement outlined in September to cut output by around 1 million barrels per day (bpd), from around 33.82 million bpd […]
DUBAI, United Arab Emirates, November 28, 2016/ — The Ashish J Thakkar Global Entrepreneurship Index of 85 countries ranks Singapore as the best environment for entrepreneurs Of the African nations, Namibia scores highest and comes 42nd overall – ahead of other prominent African markets, such as Nigeria, Kenya and South Africa The research, conducted by Mara Foundation and Opinium Research, examines the state of entrepreneurship around the […]
BEIJING China said on Monday it had lodged a protest with Singapore after Singaporean armoured troop carriers were seized by Hong Kong customs en route back from Taiwan, as a state-owned newspaper warned against Singapore’s “hypocrisy”. The nine troop carriers were impounded in Hong Kong last week, sparking a rebuke to Singapore from China’s foreign ministry about maintaining military ties with self-ruled Taiwan, which China considers a […]
By Henning Gloystein | SINGAPORE SINGAPORE Oil prices fell over 1 percent on Monday, extending declines from last Friday as doubts re-emerged over the ability of major producers to cut output at a planned meeting on Wednesday aimed at reining in global oversupply. Brent crude futures LCOc1 were trading at $46.40 per barrel at 0035 GMT (7.35 a.m. ET), down 84 cents, or 1.8 percent, from their […]
Updated Nov. 25, 2016 8:52 p.m. ET The most valuable U.S. financial-technology startup is extending its lead. Stripe Inc., whose software is used by businesses to accept and track digital payments, will be valued at $9.2 billion in a new funding round that is being completed, the company said. That valuation, which includes roughly $150 million in new cash being raised, nearly doubles the privately held company’s […]
DUBAI, June 11 (Reuters) – Commercial Bank of Qatar is planning to meet fixed income investors for a potential benchmark dollar bond issue starting Thursday, a document from the leads showed. The lender, rated A1/A-/A by the international rating agencies, has mandated Bank of America Merrill Lynch, HSBC and Morgan Stanley to arrange the road show. The road shows will start in Singapore on Thursday, before moving […]
A Malaysian businessman and his partner have been charged with orchestrating the single biggest fraud in the history of Singapore’s stock exchange, which wiped out S$8bn in value and triggered a lasting loss of investor confidence. Soh Chee Wen, also known as John Soh, faced charges in a Singapore court on Friday in relation to an alleged fraud in which three publicly listed stocks soared in valuation […]
