Money

Mapletree to develop Grade A warehouse development in Japan for $550m

It is set to be the largest logistics warehouse space in Kyushu. Mapletree Investments has acquired a plot of land in Fukuoka, Japan to build a Grade A warehouse development with a slated total investment of $550m. The land, measuring a total of 116,319 square meters (sqm), will be transformed into two blocks of four-storey, double ramp-way logistics facilities with a combined gross floor area of 231,648 sqm.


Singapore Airlines raises offer price of 10-year bond issue to $500m

It was initially launched at an offer size of $300m. Singapore Airlines has increased the offer size of its 10-year bond issue from $300m to $500m after what the company saw that a "strong appetite was apparent from a select group of private investors." The 10-year bonds will carry a competitive coupon of 3.5% per annum. "This issuance further strengthens the Company's liquidity position, and the proceeds will be used for general purposes...


Top 5 Cities Where Rent Has Become More Affordable

Cities on both coasts dominate the list.


9 Mistakes Everyone Makes When Shopping on Amazon

Are you losing money due to any of these missteps?


China's antitrust push won't bring an 'explosion of cases' against online companies, professor says

Shares of Chinese tech giants dropped earlier in November after draft rules that defined for the first time what constitutes anti-competitive behavior were released.


Air Travel Hits COVID-19-Era Records Ahead of Holiday

As we enter fall, COVID-19 is making a resurgence all over the U.S. right in time for the holiday season. To get a handle on the spike, the Centers for Disease Control and Prevention (CDC) has urged...


Credit Suisse says regulatory risks are unlikely to stop China's tech companies from growing in 2021

Credit Suisse predicted China will record 2.2% growth for 2020, followed by a sharp jump to 7.1% in 2021.


22 Filthy Rich People Who Will Give Away Their Fortunes

Find out why these rich folks have made this very public decision.


UOB to issue €1b covered bonds due 2027

This is the first euro-covered bond in Singapore in two years. United Overseas Bank (UOB) will issue $1.6b (€1b) 0.01% covered bonds due 2027 under its US$8b global covered bond programme.


Digital Colony Teams Up With Ex-Edotco CEO for Asia Towers Bet

Digital Colony formed a partnership with former Edotco Group Sdn Bhd. Chief Executive Officer Suresh Sidhu to invest in mobile towers in the Asia-Pacific region, according to people with knowledge of the matter.


Biden will likely have to reimagine the future of U.S. economic leadership in Asia, says expert

The U.S. is not party to either of the massive trade agreements signed by countries in the Asia-Pacific: TPP and RCEP.


Popular Thanksgiving Items That Skyrocketed in Cost This Year

If you’ll be (safely) enjoying a Thanksgiving dinner this year, you might be facing some sticker shock at the grocery store when you go to stock up on holiday meal staples. The price of a full...


How Much Does a Float in the Macy’s Thanksgiving Day Parade Cost?

COVID-19 has put a halt to many annual traditions in 2020, but the Macy's Thanksgiving Day Parade isn't one of them. The parade will take place as usual and get beamed into millions of homes...


Textron to sell part of flight simulation unit to Canada's CAE for $40 million

Textron to sell part of flight simulation unit to Canada's CAE for $40 million


Market Update: STI closes at near 9-month high

The Straits Times Index extended its gains for a third consecutive day on Tuesday, ending up by 42.85 points or 1.5% at 2,891.63. The advance of the Singapore bourse continued as investors' sentiment remained lifted by the hopes that COVID-19 vaccine might be made available soon. On Monday, the biopharmaceutical company AstraZeneca announced that its vaccine could be up to 90% effective, joining Pfizer and Moderna in delivering positive results....


SCOR CEO sees double-digit reinsurance rate rises

SCOR CEO sees double-digit reinsurance rate rises


California regulator flags concerns over PG&E's wildfire safety measures

California regulator flags concerns over PG&E's wildfire safety measures


Global stocks edge lower after Dow crests 30,000

TOKYO (AP) — Global shares mostly edged back on Wednesday after the Dow Jones Industrial Average closed above 30,000 points for the first time as investors cheered news of progress on the development of coronavirus vaccines. The Dow appeared set to edge back from its record high on the open, with futures down 0.3%, while S&P 500 futures were 0.2% lower. In Europe, markets lost early gains after Asia largely closed lower. Germany's DAX shed...


Home Depot agrees to $17.5m settlement in 2014 data breach

BOSTON (AP) — Home Depot has reached a $17.5 million settlement with the attorney generals of 46 states and the District of Columbia over a 2014 data breach that exposed the payment card information of some 40 million customers. The Massachusetts Attorney General’s office detailed the settlement in a statement Tuesday, saying Home Depot agreed under its terms to employ a full-time chief information security officer among other measures....


Singapore Oil Tycoon Who Founded Hin Leong Denies HSBC's Forgery Claim

Oil Tycoon Lim Oon Kuin, founder of troubled Singaporean oil trader Hin Leong, denied allegations by the company’s biggest creditor that he used forged documents to obtain financing.


How a COVID-19 Vaccine Could Hurt Your Portfolio

While the economy will benefit from the creation of a vaccine — and stocks likely will jump overall — not every investment will gain from an end to this ordeal.


US consumer confidence drops to 96.1 as virus spreads

WASHINGTON (AP) — U.S. consumer confidence fell to a reading of 96.1 in November as rising coronavirus cases pushed American optimism down to the lowest level since August. The November reading released Tuesday by the the Conference Board said represents a drop from a revised 101.4 in October. The decline reflected a big drop in consumer expectations for income, business and labor market conditions. “Heading into 2021, consumers do not foresee...


Stimulus Can’t Stay Forever, MAS Head Warns Global Policy Makers

The global economic recovery from the pandemic is heading into a critical period as nations balance the need to prop up consumers and businesses against the threat of unmanageable debt, Singapore’s central bank chief said.


India will likely go for bilateral trade pacts for now — not mega deals like RCEP

India was part of the early negotiations for RCEP but said last year it would not join the world's largest trading bloc.


MAS unveils loan grant to help corporates obtain green financing

The grant offers up to $180,000 coverage of expenses. The Monetary Authority of Singapore (MAS) has launched the Green and Sustainability-Linked Loan Grant Scheme (GSLS), which seeks to support corporates of all sizes to obtain green and sustainable financing. The grant, which takes effect beginning 1 January 2021, offers up to $180,000 coverage of expenses for corporates to engage independent service providers to validate the green and...


Americans turn up heat and Cholula sells for $800 million

With millions dining at home for safety and a swing to the spicier side in the U.S. in recent years, Cholula, the hot sauce with the distinctive wooden cap and a cult following, has become a very valuable brand. McCormick & Co., the spice maker that dominates U.S. grocery shelves, said Tuesday that it was buying Cholula for $800 million from L Catteron, a private equity firm. McCormick made a notable tilt toward the hot sauce shelf three years...


Singapore Pushes Digibanks in Face of China, U.S. Crackdown

Singapore’s financial regulator will stick with its plans to award digital banking licenses by the end of the year, undeterred by tightening scrutiny in China and the U.S. that’s hitting major Chinese applicants.


When will the world reach ‘herd immunity'? Citi weighs in

An analysis by Citi Research showed that "herd immunity" start to form in the fourth quarter of 2021, beginning with developed markets.


Clariant plans to cut 1,000 jobs amid divestments

Clariant plans to cut 1,000 jobs amid divestments


Cost To Own a Car for a Year in Every State

Owning a car is a necessity for many, but it’s costly. GOBankingRates looked at the true cost to own a car for a year in the U.S. How does your state stack up?


How Emergencies Like Coronavirus Expose Nonsense Business Practices

Early in the coronavirus outbreak in the United States, telecom company AT&T graciously opted to remove its broadband caps in response to the fact that a great many Americans were stuck at home...


ComfortDelGro recovery in 2021 likely: analyst

Resurgence of COVID-19 cases still a threat for the company. Transportation group ComfortDelGro (CDG) is well on its way to recovery after a significant slowdown of transport activities in April and May. In a report, OCBC Investment Research noted gradual recovery in most geographies in which the transport company operates in. This was seconded by head of research at Phillip Securities Research, Paul Chew, who said that ComfortDelGro's revenue...


How To Recreate the Most Expensive Thanksgiving Meal Ever on the Cheap

This year, many of us will be enjoying a scaled-down Thanksgiving. There might be turkey (or maybe just turkey breast) and sweet potatoes, but you may be starting traditions all your own. Why not...


Hedge-Fund Copycats Rally as Academics Defend Embattled Strategy

Investing products designed to bring hedge-fund strategies to the masses are on course for one of their best months in more than a decade, as the latest research argues the oft-maligned trades have robust foundations.


Malaysia’s Coronavirus Resurgence Hits Top Glove Maker’s Plants

The world’s biggest rubber-glove producer is now at the heart of Malaysia’s recent coronavirus resurgence, potentially threatening production of one of the most crucial pieces of protective equipment needed to fight the pandemic and the country’s broader economic recovery.


US home price gains accelerate as pandemic shakes up housing

WASHINGTON (AP) — U.S. home prices jumped in September as strong demand, low interest rates and the smallest number of available homes on record combined to push up housing costs. The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, showed that home prices rose 6.6% in September from a year earlier, much higher than its 5.3% increase in August. That is the biggest increase since April 2018. The viral pandemic disrupted the...


Shell UK gender pay gap narrows slightly in 2020

Shell UK gender pay gap narrows slightly in 2020


Credit stress hurts new money going into China's massive infrastructure project, says Moody's

The coronavirus pandemic has caused financial strains in many small economies participating in China's Belt and Road Initiative, said Moody's.


Malaysia's Top Glove says virus outbreak may push prices up

KUALA LUMPUR, Malaysia (AP) — Malaysia's Top Glove, the world's largest maker of rubber gloves, said Wednesday that supply disruptions at its factories due to an outbreak of the coronavirus may push glove prices up. The company said it shuttered 20 of its factories in an area outside Kuala Lumpur in stages since Nov. 17 after nearly 3,000 workers tested positive for the virus. Another eight facilities in the same area are currently running below...


China Return, Mnuchin Corners Yellen, Singapore Warning: Eco Day

Welcome to Wednesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:


How To Get Out of a Car Loan You Can’t Afford

Balances on car loans increased by $17 billion in the third quarter of 2020, according to the Center for Microeconomic Data’s September 2020 report on household debt. The same report showed...


Virus outbreak delays production at world's top glove maker

KUALA LUMPUR, Malaysia (AP) — Malaysia’s Top Glove Corp., the world’s largest maker of rubber gloves, said Tuesday it expects a two-to-four-week delay in deliveries after more than 2,000 workers at its factories were infected by the coronavirus, raising the possibility of supply disruptions during the pandemic. Top Glove said it has temporarily stopped production at 16 factories in Klang, a town outside Kuala Lumpur, since Nov. 17 to screen...


Tesla issues two recalls covering 9,500 U.S. vehicles: NHTSA

Tesla issues two recalls covering 9,500 U.S. vehicles: NHTSA


What Lawyers Earn in Every State and D.C.

Attorneys are paid well — about three times the average wage for all jobs. But lawyers' pay varies a lot from state to state.


Insurance Singapore Guide — All You Need to Know Before Buying Your First Plan

When you’re young and naive and believe that everything will work out somehow, it’s pretty hard to imagine ever needing to buy insurance. Yet, getting your insurance portfolio in order is probably one of the best things you can do for your finances. And in fact, it’s best to do it while you’re young and healthy. To help you make sense of the world of insurance so you can compare the different insurance plans, we have crafted this comprehensive...


Italy's antitrust probes Benetton for possible abuse in franchising contracts

Italy's antitrust probes Benetton for possible abuse in franchising contracts


Asia is leading the way in travel recovery, says bookings platform Agoda

The best pockets of recovery are domestic travel in Taiwan, Thailand and increasingly, Vietnam, said John Brown of Agoda, a subsidiary of Booking Holdings.


Businesses still in trouble if tourists don't return by 2021: survey

Singapore businesses call on local shoppers for support. A staggering 90% of businesses surveyed in Singapore said that sustainability is likely to be severely to moderately impacted if tourists do not return by mid-2021 despite reporting improved sales in September and October, according to the American Express Business Recovery Research for Singapore. More than half of the 300 local business decision makers surveyed said that their business...


Exclusive: India import hurdles hit Apple iPhone, Xiaomi devices from China, say sources

Exclusive: India import hurdles hit Apple iPhone, Xiaomi devices from China, say sources


OCBC pilots increased green finance framework for SMEs

SMEs will no longer need to develop frameworks prior to applying. OCBC has launched a framework that would grant an increased sustainable financing of up to $20m for SMEs, a statement read. The OCBC SME Sustainable Framework is for SMEs that are involved in sustainable activities across eight green project categories eligible under the Green Loan Principles by the Loan Market Association.