Posts by Forbes Washington DC
Sliding Bitcoin struggling to harness rebound in global risk appetite
BITCOIN and the wider crypto market are nursing sharp losses for the month so far even as global stocks push back towards record highs after shaking off a growth scare over the US economy. The largest digital asset has fallen about 9 per cent in August, lagging a gain of almost 1 per cent in…
Read MoreThai central bank to hold rates until Q2 2025, political turmoil risks early cut
THE Bank of Thailand (BOT) will keep interest rates unchanged on Wednesday (Aug 21) and through Q1 2025 to balance growth with inflation control while assessing the impact of ongoing political instability on the economy, a Reuters poll found. While inflation, at 0.83 per cent in July, remained below the BOT’s target range of 1…
Read MoreMAS issues 9-year prohibition order against ex-OCBC representative for misconduct
THE Monetary Authority of Singapore (MAS) on Monday (Aug 19) issued a nine-year prohibition order against Hoi Wei Kit, a former representative of OCBC, for misconduct. Effective from Monday, Hoi will be barred from providing any financial advisory services, and from taking part in the management, acting as a director, or becoming a substantial shareholder…
Read MoreProperty groups should sell low-yielding investment properties, go slow in raising debt
ACCESS to debt appears fine for Singapore-listed property groups. Frasers Property announced in July that it had secured a sustainability-linked loan amounting to around S$904 million, comprising an Australian dollar tranche and a US dollar tranche. In early June, GuocoLand issued S$180 million of three-year notes at a fixed interest rate of 4.05 per cent…
Read MoreThailand’s Ratanarak Group buys out Jardine Cycle’s Siam City stake for US$354 million
Its controlling shareholder, Sunrise Equity, which is part of the Ratanarak Group made an offer for 76.1 million shares in Siam City for 160 baht apiece The Ratanarak Group, which operates Thailand’s Siam City Cement, has raised its stake in the cement maker by buying out Singapore-based Jardine Cycle & Carriage’s 25.54 per cent stake…
Read MoreNadine Ahn: Fired Royal Bank of Canada Boss’ Intimate Texts to Junior Colleague Revealed as Bank Launches Countersuit Over 10-Year Affair
Intimate text messages exchanged between an ousted CFO of Royal Bank of Canada and her junior colleague have emerged amid the latest round of legal disputes over the secret office affair. RBC, Canada’s largest bank, fired Nadine Ahn in April after finding out an alleged decade-long romantic relationship with her junior colleague, Ken Mason. Reports…
Read MoreChina’s biodiesel producers seek new outlets as hefty EU tariffs bite
CHINESE biodiesel producers are seeking new outlets in Asia for their exports and exploring producing other biofuels as supply to the European Union, their biggest buyer, dries up ahead of anti-dumping tariffs, biofuel executives and analysts said. The EU will impose provisional anti-dumping duties of between 12.8 per cent and 36.4 per cent on Chinese…
Read MorePacific International Lines adds 5 LNG dual-fuel container vessels to fleet
SINGAPORE container carrier Pacific International Lines (PIL) is in the process of renewing its fleet, with an order for five liquefied natural gas (LNG) dual-fuel container vessels. Each one has a capacity of 13,000 twenty-foot equivalent units (TEU). PIL said on Monday (Aug 19) that the vessels are expected to be delivered progressively from end-2026.…
Read MoreSingtel partners Bridge Alliance to offer GPU-as-a-Service in South-east Asia
AIS in Thailand, Malaysia’s Maxis and Telkomsel in Indonesia are among the early adopters of the offering SINGTEL and Bridge Alliance – a mobile alliance with 35 member operators globally – announced a partnership on Monday (Aug 19) that will take the telco’s GPU-as-a-Service (GPUaaS) offerings to enterprises across South-east Asia once it is launched…
Read MoreMatthew Perry and His Assistant Kenny Iwamasa Spent $55,000 on Just 55 Ketamine Vials in Less than a Month Prior to His Death
Matthew Perry and his live-in assistant Kenny Iwamasa spent a staggering $55,000 on 55 vials of ketamine and related injections in the 29 days leading up to fatal overdose of the actor, 54, on October 28, 2023, according to a report. Authorities from the Department of Justice said that Iwamasa had sent a series of…
Read MoreGlobal digital economy will hit US$16.5 trillion by 2028: report
RESEARCH and advisory company Forrester released its report, Global Digital Economy Forecast, 2023-2028, on Monday (Aug 19) revealing that the digital economy will reach US$16.5 trillion and capture 17 per cent of global GDP by 2028. The study measures the size and growth of the digital economy across areas such as tech spend, retail and travel e-commerce,…
Read MoreSiemens unit consortium bags $400 million Cross Island Line power supply contract from LTA
The line will be Singapore’s eighth MRT line, serving the eastern, western and north-eastern areas of the island TRANSPORT solutions company Siemens Mobility has secured a contract worth S$400 million from the Land Transport Authority, it said on Monday (Aug 19). The company will lead a consortium with Concord Corporation to design, supply, install, test…
Read More