Markets

BEIJING: Ant Group, the fintech affiliate of Alibaba Group, will restructure as a financial holding company, China's central bank said on Monday (Apr 12). Ant has formed a "comprehensive and feasible restructuring plan" at the urging of financial regulators, the People's Bank of China (PBOC) said ...

COLOMBO: Sri Lanka secured a US$500 million loan from China Monday (Apr 12) in a desperate bid to shore up its foreign exchange reserves as the local currency hit a record low. The Sri Lankan embassy in Beijing said the loan agreement with the China Development Bank will "infuse...

SINGAPORE: Groups of up to 50 people can now take part in local tours, and for longer periods, said the Singapore Tourism Board on Monday (Apr 12), as it announced the easing of restrictions, in line with the loosening of COVID-19 measures announced late last month. “The changes in tour...

HONG KONG: Chinese tech giant Huawei on Monday (Apr 12) said it had reached an agreement with HSBC in Hong Kong to secure documents that its senior executive Meng Wanzhou hopes will help her fight extradition to the United States from Canada. Chief financial officer Meng - whose father...

PARIS: French drugmaker Sanofi said on Monday (Apr 12) it would invest €400 million (S$637.7 million) over five years in a new vaccine production site in Singapore. The new site would provide Sanofi with the ability to produce innovative vaccines on a massive scale for Asia and respond to future ...

SINGAPORE: A total of 9,500 trainees have been placed in SGUnited jobs programmes within 2,500 companies by the end of February, the Ministry of Manpower (MOM) said on Monday (Apr 12). The initiatives - SGUnited Traineeships and the SGUnited Mid-Career Pathways Programme - were launched in mid ...

Shares in tech giant Alibaba surged nine percent Monday as the ecommerce titan reassured investors that a record $2.78 billion antitrust fine imposed by China would have little impact on its operations.

Equities fell in Asia on Monday as investors awaited the next earnings season with high hopes for strong reports and outlooks as the recovery progresses, while the head of the Federal Reserve reiterated his view the economy was improving but warned the virus still posed a risk.

HONG KONG: A growing number of Chinese tech start-ups are cancelling plans to list on Nasdaq-style markets at home with some eyeing Hong Kong share sales instead, as regulators tighten scrutiny of IPO applicants after the halting of Ant Group's US$37 billion float. More than 100 companies have ......

SHANGHAI: Alibaba Group will introduce measures to lower entry barriers and business costs faced by merchants on e-commerce platforms, CEO Daniel Zhang said on Monday (Apr 12), after an antitrust probe found the firm had abused its dominant market position. China on Saturday imposed a record 18 ...