Business News

China's Alibaba secures $3 billion loan to finance acquisition spree

Ambition or PR gambit? Alibaba's Jack Ma pledges to become biggest employer in US

The office of the US Trade Representative put Alibaba's electronic sales platform Taobao on a blacklist last month.

Jan 11, 2017

By Jacob J

McDonald's sells controlling stake in China, Hong Kong business

Offloading of restaurants will help McDonald's go light on operations while keeping a cut of the sales.

Jan 9, 2017

By Jacob J

Malaysian ringgit, Asia's worst performing currency, to fall further in 2017

Ringgit's fate also depends on how far and how fast the US Federal Reserve increases interest rates.

Jan 5, 2017

By Jacob J

Singapore central bank shuts down Faclon Bank operations

Falcon Bank manager charged in Singapore over 1MDB money laundering

Swiss national Jens Fred Sturzenegger plans to plead guilty to charges.

Jan 5, 2017

By Jacob J

Trump names trade hawk and China critic Robert Lighthizer as US trade tsar

Lighthizer now gets a second go at his anti-free trade crusade, with the theatre shifting to China and the Southeast Asia.

Jan 4, 2017

By Jacob J

Strong Q4 rebound helps Singapore avoid recession; GDP rises 1.8% on year

A sharp rebound in manufacturing and services helped GDP to expand 9.1 percent quarter on quarter.

Jan 3, 2017

By Jacob J

China to relax foreign investment norms as part of 'Made in China 2025 Strategy'

'Besides advanced technology and experience in management, China also need capital investment from overseas'

Dec 30, 2016

By Jacob J

Singapore: Inchcape to sack 120 workers amid gloomy economic outlook

It is also reported that the company is likely to move its finance and IT functions out of Singapore

Dec 30, 2016

By Bihu Ray

Thailand, Indonesia and Malaysia jointly agrees to promote local currencies

Thailand, Indonesia and Malaysia sign currency deal amid decline against greenback

The Malaysian ringgit, Thai baht and Indonesian rupiah have fallen against the US dollar this year.

Dec 24, 2016

By Samhati Bhattacharjya

Hyundai Heavy, Daewoo Shipbuilding and Samsung Heavy job cuts

Korean ship builders to be in choppy waters until oil climbs back into $70 levels

Debt pile is the biggest in 20 years and there are doubts if shipbuilders like Daewoo, Samsung and Hyundai will be able to avoid default.

Dec 24, 2016

By Jacob J

Deutsche Bank to pay $7.2 bln to settle US Justice Department investigation

Deutsche Bank will pay a $3.1 billion in penalty and 4.1 billion in relief to consumers under deal with DoJ.

Dec 23, 2016

By Jacob J

Singapore orders closure of Swiss bank BSI linked to 1MDB

Ex-BSI banker Yeo Jiawei sentenced to 30 years in jail over 1MDB scandal

Yeo Jiawei was accused of brokering illegal transactions involving 1MDB funds and trying to influence witnesses in the case.

Dec 22, 2016

By Jacob J

Singapore: Director of TAC Contracts jailed 30 months for corruption

Ling was found guilty of giving corrupt payments to his clients after his company secured jobs with them.

Dec 22, 2016

By Bihu Ray

South China Sea: Beijing releases US drone after Trump snub

Etihad cuts jobs in cost reduction drive as Gulf carriers face long-haul blues

Etihad says there will be "a measured reduction of headcount in some parts of the business."

Dec 20, 2016

By Jacob J

China's economy expands 6.7% in Q3, as Govt spending offsets weak exports

At 6.5% China GDP growth rate will hit new 25-year low in 2017

China's top leaders chose to stick to a "prudent and neutral" monetary policy in 2017.

Dec 19, 2016

By Reuters

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