Posts by Liam Redmond
Indonesia eyes oil purchases from Russia
Published Tue, Mar 17, 2026 · 09:16 PM [JAKARTA] Indonesia is looking to purchase oil from Russia to meet its domestic supply needs, local media reported on Tuesday (Mar 17), citing the energy minister. Bahlil Lahadalia said the move was considered after the rise of crude oil prices following conflict in the Middle East and…
Read MorePayPal launches USD stablecoin in 70 markets
[SINGAPORE] PayPal announced on Tuesday (Mar 17) that it has made its US dollar-backed stablecoin PayPal USD (PYUSD) available across 70 markets, including Singapore. This follows PYUSD’s initial launch in the US in 2023, which was to introduce PayPal customers and merchants to cryptocurrencies as a utility, said May Zabaneh, senior vice-president and general manager…
Read MoreChina oil majors resume seeking Russian oil after 4-month halt: sources
Published Tue, Mar 17, 2026 · 08:50 PM [SINGAPORE] Chinese state oil majors have resumed seeking Russian crude cargoes after a four-month hiatus, taking advantage of a US sanctions waiver, five trade sources said. The oil majors are looking to head off supply shortages caused by the war in the Middle East. Trading arms under…
Read MoreComfortDelGro introduces new temporary driver fee, increases meter fare to better support cabbies
[SINGAPORE] Taxi operator ComfortDelGro (CDG) will roll out a temporary driver fee for ride-hailing bookings and raise metered taxi rates, as part of measures to support cabbies grappling with higher operating costs amid rising fuel prices. Under the changes, bookings made via its app will incur a drive fee of S$0.50 for fares below S$15,…
Read MoreComfortDelGro introduces new temporary driver fee, increases meter fare amid rising fuel costs
[SINGAPORE] Taxi operator ComfortDelGro (CDG) will roll out a temporary driver fee for ride-hailing bookings and raise metered taxi rates, as part of measures to support cabbies grappling with higher operating costs amid rising fuel prices. Under the changes, bookings made via its app will incur a drive fee of S$0.50 for fares below S$15,…
Read MoreChina state bankers face 30% bonus cuts as pay reform deepens
Published Tue, Mar 17, 2026 · 05:31 PM [BEIJING] Some senior bankers at China’s state-backed financial firms are bracing for bonus cuts of at least 30 per cent as Beijing intensifies a sweeping remuneration reform across its US$69 trillion financial sector. Senior managers, including department heads across business lines at two major state-owned banks, saw…
Read MoreTPG establishes elderly healthcare firm in Singapore, Malaysia
Published Tue, Mar 17, 2026 · 04:39 PM [SINGAPORE] Alternative asset manager TPG has established a healthcare services group for senior citizens in Singapore and Malaysia, with 16 nursing homes and ambulances and other medical transport services. One Aged Care has been formed by combining Econ Healthcare, Orange Valley Nursing Homes and Ambulance Medical Service,…
Read MoreChina clamps down on key route to Hong Kong IPOs after deal boom
Most Chinese-related entities need to file with the China Securities Regulatory Commission before listing in the city Published Tue, Mar 17, 2026 · 01:50 PM BEIJING is restricting Chinese companies incorporated overseas from seeking initial public offerings (IPOs) in Hong Kong, according to sources familiar with the matter, threatening to upend a decades-old playbook that…
Read MoreLeapmotor expands Stellantis alliance, posts first profit
Closer collaboration will offer the Chinese electric carmaker more global opportunities Published Tue, Mar 17, 2026 · 12:43 PM [HONG KONG] Chinese electric carmaker Zhejiang Leapmotor Technology posted its first annual profit on strong vehicle sales as it expands its partnership with Stellantis. The shares rose. Leapmotor also said it is “actively exploring” cooperations on…
Read MoreSenior bankers quit Wall Street jobs for corporate roles in Asia
The talent squeeze is being further tightened by intensifying poaching from rivals and a rising demand for qualified IPO sponsors Published Tue, Mar 17, 2026 · 12:03 PM [HONG KONG] At least half a dozen senior dealmakers at global investment banks in Asia have resigned to join corporate roles as the region’s volatile bonus cycle…
Read MoreMiddle East oil becomes most expensive in the world as war cuts supply
Published Tue, Mar 17, 2026 · 11:43 AM [SINGAPORE/NEW DELHI] Middle East crude benchmarks soared to all-time highs, becoming the most expensive oil in the world, even as trade slumps due to the US and Israeli war on Iran, with some traders arguing that the benchmarks have lost relevance due to supply disruption. The surge…
Read MoreDefence spending to benefit ST Engineering, Addvalue
Addvalue is also a ‘rare Asian space/drone play in rapid growth mode’, say analysts [SINGAPORE] ST Engineering and Addvalue Tech are set to be key beneficiaries of a rise in defence spending by Singapore, said Maybank analysts Krishna Guha and Jarick Seet on Saturday (Mar 14). Prime Minister and Finance Minister Lawrence Wong said in…
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