Leading ladies: The women heading the biggest family-led hotels in Asia
[SINGAPORE] Kuok Hui Kwong’s appointment as the new chief at Shangri-La Asia is only the latest in a string of women taking over the reins across family-controlled Asian hospitality groups. The daughter of Malaysia’s richest man, Robert Kuok, Hui Kwong was appointed chief executive of the prestigious hotel group on Aug 1. She is the…
Read MoreTrump signs order targeting banks over political discrimination
[NEW YORK] US President Donald Trump signed an executive order on Thursday (Aug 7) aimed at eliminating practices by banks and their regulators that result in certain customers being denied access to financial services for ideological reasons. The order directs federal banking regulators to remove reputational risk standards from their guidance and training materials and…
Read MoreWealth firms are preparing richest Australians for pension tax fallout
[MELBOURNE] A looming pensions tax on rich Australians is sparking a flurry of behind-the-scenes planning by the nation’s wealth managers, who say clients are actively exploring strategies to shield multi-million dollar balances. Under legislation set to reach the Senate in the coming weeks, pension balances of A$3 million (S$2.5 million) and above would face an…
Read MoreBOJ debated chance of resuming rate hike, July summary shows
[TOKYO] Some Bank of Japan policymakers warned of mounting inflationary pressures and one signaled the chance of resuming interest rate increases by year-end, a summary of opinions at the July meeting showed, keeping alive the possibility of a near-term rate hike. While several board members warned of lingering uncertainty over the fallout from US tariffs,…
Read MoreSTI stocks fall, as SIA, Genting, OCBC tumble
[SINGAPORE] Shares of several Straits Times Index (STI) constituents fell in early trade on Friday (Aug 8), on the impact of earnings and amid tariffs kicking in. Sembcorp suffered the steepest decline, as it dived more than 13 per cent. It was last down 13.1 per cent at S$6.78. On Friday, before the market opened,…
Read MoreGM to buy EV batteries from China’s CATL for low-cost Bolt EV
The Chinese company is one of the world’s largest battery manufacturers and a major supplier of LFP batteries to the auto industry Published Fri, Aug 8, 2025 · 09:53 AM [WASHINGTON] General Motors (GM) plans to purchase electric-vehicle (EV) batteries from China to power its upcoming entry-level EV until it can procure US-made batteries through…
Read MoreGold futures hit record high after US tariff report
[BENGALURU] Gold futures jumped to a fresh high on Friday (Aug 8) following a report that the United States has imposed tariffs on imports of one-kilo gold bars, while spot gold was headed for a second straight weekly rise on tariff turmoil and US interest rate-cut hopes. Spot gold was down 0.2 per cent at…
Read MoreDBS shares jump 2%, cross S$50 mark
[SINGAPORE] DBS shares surpassed the S$50 mark in early trade on Friday (Aug 8), a day after it reached that record level following news of its improved Q2 earnings. The counter hit a high of S$50.98 on Friday morning, up S$1.23 or 2.5 per cent, after having reached an all-time high level of S$50 on…
Read MoreDBS shares jump 2%, cross the $50 mark
[SINGAPORE] DBS shares surpassed the S$50 mark in early trade on Friday (Aug 8), a day after it reached that record level following news of its improved Q2 earnings. The counter hit a high of S$50.98 on Friday morning, up S$1.23 or 2.5 per cent, after having reached an all-time high level of S$50 on…
Read MoreDBS shares jump 2%, crosses the $50 mark
[SINGAPORE] DBS shares climbed above the S$50 mark in early trade on Friday (Aug 8), one day after it hit that record-level following news of improved Q2 earnings. The counter hit a high of S$50.98 on Friday morning, up by S$1.23 or 2.5 per cent, having reached an all-time high level of S$50 on Thursday,…
Read MoreAustralian authorities file proceedings against Singtel’s Optus, allege cyberattack-linked breaches
Telco’s unit says it is unable to determine the quantum of any penalties, which the Australian federal court will determine [SINGAPORE] The Australian Information Commissioner (AIC) on Friday (Aug 8) filed proceedings in the country’s federal court against Optus over alleged breaches linked to the Singtel subsidiary’s 2022 cyberattack. The AIC is alleging breaches of…
Read MoreNextdoor cuts 12% of workforce in quest for profitability
[SAN FRANCISCO] Nextdoor Holdings, the neighbourhood social networking company, is eliminating 12 per cent of its workforce, part of a broader effort by chief executive officer Nirav Tolia to achieve profitability and revamp the business after years of struggles. Nextdoor, which is cutting 67 jobs, announced the move on Thursday (Aug 7) with its second-quarter…
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