Singapore
Crypto needs regulation — technology can’t remove all financial risks, BOE’s Cunliffe says
Regulators need to “get on with the job” of bringing the use of crypto technologies within the “regulatory perimeter,” says Jon Cunliffe, Bank of England’s deputy governor for financial stability. Speaking at the British High Commissioner’s residence in Singapore on Tuesday, Cunliffe shared insights on the recent “crypto winter,” which refers to a period of […]
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Singapore’s state-owned investor Temasek reports record portfolio value
A signage for Temasek Holdings is displayed during a news conference following the company’s annual review in Singapore on July 9, 2019. Bryan van der Beek | Bloomberg | Getty Images SINGAPORE — Temasek Holdings reported Tuesday that the net value of its portfolio grew to $286.48 billion (403 billion Singapore dollars) at the end […]
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Family offices have become a $6 trillion powerhouse in investing—and deal-making
The post-pandemic wealth boom has sparked an explosion in family offices, creating a new gold rush among Wall Street firms, private equity funds and investment advisors to manage the fortunes of the world’s richest families. Family offices now manage more than $6 trillion in wealth, according to some estimates, surpassing the estimated $4 trillion managed […]
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Soaring rents and electricity prices are squeezing Singapore retailers’ margins
Retail businesses in Singapore are grappling with higher costs as rents rise and energy prices soar, the Singapore Retailers Association said. Cost pressure is a big concern for many Singapore retailers which have not completely passed on price increases to consumers, and are currently feeling the “margin squeeze,” Ernie Koh, the association’s president told CNBC’s […]
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Asia-Pacific markets rise; Reserve Bank of Australia decision ahead
SINGAPORE — Shares in the Asia-Pacific traded higher as investors look ahead to the Reserve Bank of Australia’s rate decision. South Korea’s Kospi increased 1.29%, and the Kosdaq advanced 3.25%. SK Hynix jumped 3.37% while Naver rose 3.19%. The Nikkei 225 in Japan gained 0.82%, while the Topix index rose 0.4%. Hong Kong’s Hang Seng […]
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Asia-Pacific markets set to open higher; central bank decisions ahead this week
SINGAPORE — Asia-Pacific futures pointed to a higher open on Monday ahead of Australia and Malaysia central bank decisions this week. The Nikkei futures contract in Chicago was at 26,285 while its counterpart in Osaka was at 26,320. That compared against the Nikkei 225’s last close at 25,935.62. In Australia, SPI futures were at 6,545, […]
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Crypto hedge fund Three Arrows files for Chapter 15 bankruptcy
Crypto hedge fund Three Arrows Capital (3AC) is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code, which allows foreign debtors to shield U.S. assets, according to a court filing on Friday. Singapore-based 3AC is one of the biggest casualties of the latest so-called “crypto winter” to date. […]
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Singapore’s unemployment has dropped close to pre-Covid levels, minister says
Singapore’s labor shortage problems are easing as unemployment continues to fall close to pre-pandemic levels, said Minister of Manpower Tan See Leng. “For local unemployment, we are actually in a fairly good state. The unemployment has dropped. I think we’re close to pre-Covid levels,” he told CNBC’s “Squawk Box Asia” on Thursday. “We are seeing […]
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Tourists are flocking back to Southeast Asia — but the robust recovery is showing signs of cracks
After more than two years of lockdowns and border controls, Southeast Asia is finally experiencing some semblance of the old days of travel. Flights are steadily returning to 2019 levels in the region’s major economies, with Singapore, Thailand and Malaysia being the most popular destinations this year, according to the flight data analytics firm Cirium. […]
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This 32-year-old has a toy business worth millions. Here’s how he got his big break with DC Comics
“I’m not the best artist. I’m terrible,” said Jackson Aw with a sheepish laugh. That may seem ironic, given how the 32-year old is the founder and chief executive officer of Mighty Jaxx, a designer toy company from Singapore. But to Aw, acknowledging his own shortcomings has helped him turn his start-up into a multimillion-dollar […]
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