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Malaysia seeks to reroute US$10.6 billion belt and road rail project

KUALA LUMPUR: Malaysia's government on Tuesday (Sep 8) said it will seek to reroute a US$10.6 billion rail project being built across the peninsula under China's "Belt and Road" trade initiative, and as a result will reassess the cost and schedule with the Chinese contractor. The government ...

Markets

Temasek’s net portfolio value drops from record high after COVID-19 ‘cut short’ promising year

SINGAPORE: Temasek Holdings on Tuesday (Sep 8) announced a fall in its net portfolio value for the last financial year – its first in four years – but said its balance sheet remains “resilient” and that it has the flexibility to rebalance its portfolio accordingly. For the year ended...

Markets

Beyond Meat signs deal to open production facility near Shanghai

Beyond Meat Inc said on Tuesday it had signed a deal to open a production facility near the business hub of Shanghai, as the plant-based meat products maker ramps up its focus on the rapidly growing Chinese market.

Markets

ByteDance to hand out cash bonuses to staff amid US pressure on TikTok

TikTok owner ByteDance said on Tuesday it would hand out cash bonuses to employees working to help it "overcome challenges posed by the COVID-19 pandemic and changing macro environment".

Markets

German business group: It’s hardly possible to legally stop Nord Stream 2

It is almost impossible to halt the Nord Stream 2 gas pipeline from Russia to Germany from a legal perspective, the head of the German Eastern Business Association told Deutschlandfunk radio on Tuesday.

Markets

US shale producers race for federal permits ahead of presidential election

Oil producers in the top U.S. shale fields are stockpiling drilling permits on federal land ahead of the November U.S. presidential election, concerned that a win by Democratic candidate Joe Biden could lead to a clamp-down on oilfield activity.

Markets

Exclusive: Exxon downsizes global empire as Wall Street worries about dividend

Ill-timed bets on rising demand have Exxon Mobil Corp facing a shortfall of about US$48 billion through 2021, according to a Reuters tally and Wall Street estimates, a situation that will require the top U.S. oil company to make deep cuts to its staff and projects.

Markets

New chartered fintech professional qualification to groom Singapore, China talent

A NEW Chartered FinTech Professional (CFtP) qualification will be introduced to develop fintech professionals in Singapore and China, and build a sustainable pipeline of international fintech talent.

Markets

Australian watchdog to examine competition between Apple and Google app stores

Australia's competition regulator on Tuesday said it would look into the use of and sharing of data by apps and the extent of competition between Apple Inc's and Google's app stores.

Markets

DBS rolls out savings and healthcare solutions for gig workers

SINGAPORE'S largest bank DBS has rolled out financial and healthcare solutions to help hard-hit gig economy workers better manage their savings and healthcare costs amid the pandemic.

Markets

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