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S’pore core inflation near 14-year high of 5.1% in August on more costly food, services

SINGAPORE – Consumer prices in Singapore continued to climb in August and core inflation hit a near 14-year high, on the back of more costly services and food. Core inflation, which excludes costs of private transport and accommodation and reflects the expenses of Singaporean households more accurately, hit 5.1 per cent year on year, up […]

DBS opens up digital exchange for accredited wealth investors to trade crypto

SINGAPORE – DBS Bank on Friday announced the roll-out of self-directed crypto trading on DBS digibank, enabling the bank’s wealth clients who are accredited investors to trade cryptocurrencies on the DBS Digital Exchange (DDEx) at their convenience. For a start, some 100,000 DBS Treasures wealth clients in Singapore will be able to trade four cryptocurrencies […]

OxPay says $77k paid for wrongful dismissal not declared as amount ‘not material’

SINGAPORE – Payment services company OxPay Financial said it did not announce a tribunal’s order for the company to pay its former chief executive and chief financial officer $77,000 for wrongful dismissal as the claim amount was “not material” to the group. The Catalist-listed company was responding to queries by the Singapore Exchange Regulation, which had asked why […]

Nasdaq increases scrutiny of small-cap IPOs after wild swings

NEW YORK – Nasdaq is stepping up scrutiny of initial public offerings (IPOs) by small-cap companies, according to people familiar with the matter, after a series of outsized gains by new listings that quickly evaporated. The exchange is looking more closely at prospective small-cap issuers across industries and countries, said the sources, who asked not […]

GIC buys majority stake in Mediterranean luxury resorts group as travel recovers

BENGALURU – Singapore sovereign wealth fund GIC, one of the world’s biggest investors, has bought a majority stake in Sani/Ikos Group (SIG) in a deal that values the Mediterranean luxury resorts operator at 2.3 billion euros (S$3.2 billion), both companies said in a joint statement on Thursday (Sept 22). The deal comes as travel recovers […]

Building digital HQs: 3 big ideas from tech giant Salesforce’s Dreamforce conference

SAN FRANCISCO – The disruptions of the pandemic have highlighted how vital it is for companies to develop a digital headquarters so staff can work together better online. These virtual centres would include systems that support spontaneous interactions and easy sharing of information although in-person collaboration would remain an important part of working life.

Asia stocks slump on global slowdown fears after Fed signals more rate hikes ahead

SINGAPORE – Asian stock markets slumped on Thursday amid heightened global slowdown fears after the US Federal Reserve signalled even more aggressive rate hikes ahead than investors had expected as it raised its key interest rate by a hefty 75 basis points for a third straight time. Notably, Fed chairman Jerome Powell in comments on Wednesday […]

Indonesia raises key rate more than expected as rupiah weakens

JAKARTA – Indonesia’s central bank delivered a bigger-than-expected interest rate hike to stem inflation and stabilise the rupiah, marking an aggressive turn for policy makers who were monetary policy outliers until last month. Bank Indonesia raised the seven-day reverse repurchase rate by 50 basis points, the biggest increment since 2018, to 4.25 per cent on […]

Singtel’s Optus in Australia hit by cyber attack, customer data leaked

SINGAPORE – Singtel’s Australian subsidiary Optus said on Thursday it is investigating the possible unauthorised access of both current and former customers’ information following a cyber attack, which was shut down “immediately” upon its discovery. In a statement on Thursday, Optus said it is working with the Australian Cyber Security Centre to mitigate any risks to […]