News
Revolut’s valuation hits US$75 million as it completes fundraising
[SINGAPORE] Digital bank Revolut has concluded fundraising – comprising secondary share sales for employees and fresh capital – bringing its valuation to US$75 billion.Investors that led the fundraising round...
Revolut’s valuation hits US$75 billion as it completes fundraising
[SINGAPORE] Digital bank Revolut has concluded fundraising – comprising secondary share sales for employees and fresh capital – bringing its valuation to US$75 billion.Investors that led the fundraising round...
Dubai property frenzy sets developers on a US$6 billion debt spree
From Islamic bonds to private credit, they ride one of the Gulf country’s longest real estate booms in years[DUBAI] Property developers in the United Arab Emirates are raising billions...
Thailand eyes tougher gold-trade rules after baht swings
[BANGKOK] Thailand’s central bank plans to tighten reporting rules for gold transactions after rising bullion flows contributed to swings in the baht, prompting policymakers to seek better visibility into...
Singapore court clears way for US$2.7 billion suit against StanChart in 1MDB scandal-linked claim
Claims involve an alleged US$150 million deposit to Najib Razak and US$77 million for his wife Rosmah Mansor’s bags and jewellery[SINGAPORE] The High Court has dismissed an application by...
Indian central bank likely intervenes to prop up rupee before local market open, traders say
[MUMBAI] The Reserve Bank of Indian likely intervened to support the rupee before the local spot market opened on Monday, four traders told Reuters, putting the currency on track...
Surging Chinese imports of Indonesia oil point to rebranded Iranian crude, traders say
China’s imports from Malaysia have almost halved since July from this year’s peak in March at 8.5 million tonnes[BEIJING] China is importing unusually large quantities of crude oil from...
Lenovo stockpiling PC memory due to ‘unprecedented’ AI squeeze
The company will aim to avoid passing on rising costs to its customers in the current quarter, as it wants to sustain this year’s strong sales growth, according to...
Fighting scams: OCBC rolls out free in-app calls for all customers
Bank says business and retail customers currently make over 8,000 calls to the bank each month while overseas [SINGAPORE] OCBC said on Monday (Nov 24) it is introducing in-app...
Beyond property development: Far East Orchard leans on student accommodation for recurring income
[SINGAPORE] When real estate veteran Alan Tang took over as group chief executive officer of Far East Orchard (FEOR) on Jan 1, 2020, few could have foreseen how quickly...
