EU struggling find trade deal to satisfy Trump despite reprieve from 50% tariffs

EU struggling find trade deal to satisfy Trump despite reprieve from 50% tariffs

The European Union may have won a reprieve from President Trump’s threatened 50% tariffs, but it remains unclear how the bloc will square its push for a mutually beneficial trade deal with Washington’s demands for steep concessions. Trump backed away from imposing the levies on EU imports from June 1 after a call with European Commission President Ursula von der Leyen,…

Read More

EU warns Shein of fines in consumer protection probe

EU warns Shein of fines in consumer protection probe

Shein could also be the target of EU regulatory demands under the EU’s Digital Services Act Published Mon, May 26, 2025 · 11:40 PM [BRUSSELS] The European Union on Monday (May 26) urged fast-fashion retailer Shein to respect EU consumer protection laws and warned it could face fines if it failed to address the EU’s…

Read More

Boustead’s H2 profit up 48 per cent to S$59.1 million 

Boustead’s H2 profit up 48 per cent to S.1 million 

[SINGAPORE] Engineering and technology group Boustead Singapore’s net profit for the six months ended Mar 31, 2024 increased 58 per cent to S$59.1 million compared to the year-ago period. This came despite revenue decreasing 42 per cent to S$231.9 million over the same time frame. On a per-share basis, earnings for the half were 12…

Read More

Four energy companies from Malaysia, Singapore, Vietnam ink deal to explore clean energy export from Vietnam

Four energy companies from Malaysia, Singapore, Vietnam ink deal to explore clean energy export from Vietnam

Alliance reflects growing momentum towards a regionally integrated Asean Power Grid [KUALA LUMPUR] Four energy companies from Malaysia, Singapore and Vietnam have inked an agreement to explore the export of renewable electricity from Vietnam to the other two countries. “Together, the consortia will focus on unlocking Vietnam’s rich renewable energy resources – particularly offshore wind…

Read More

Maybank Q1 net profit rises 4% to RM2.6 billion

Maybank Q1 net profit rises 4% to RM2.6 billion

[SINGAPORE] Maybank’s net profit for the quarter ended Mar 31, 2025, increased 4 per cent to RM2.6 billion (S$790 million), up from RM 2.5 billion in the previous corresponding period. Earnings per share increased to 21.45 sen, from 20.63 sen in the year-ago period. Return on equity was 11.3 per cent, up from 10.8 per…

Read More

Volvo Cars to cut 3,000 jobs in restructuring

Volvo Cars to cut 3,000 jobs in restructuring

[STOCKHOLM] Volvo Cars will cut 3,000 mostly white-collar jobs as part of a restructuring announced last month as it grapples with high costs, a slowdown in electric vehicle demand and trade uncertainty, it said on Monday (May 26). The layoffs come as the Swedish automaker tries to resurrect its rock-bottom share price and drum up…

Read More