Markets

President Joe Biden used a virtual meeting with corporate leaders about a global shortage of semiconductors to push on Monday (Apr 12) for his US$2.3 trillion infrastructure plan, telling them that the US should be the world’s computer chip leader.

BEIJING: China has imposed a sweeping restructuring on Jack Ma's Ant Group, the fintech group whose record US$37 billion IPO was derailed by regulators in November, underscoring Beijing's determination to rein in its Internet giants. The overhaul, which has been in the works for several months ...

MUMBAI: Retailers, restaurants and theatres in India's richest state are reeling under the impact of harsh restrictions imposed last week by authorities scrambling to curb a resurgence in COVID-19 cases. The western state of Maharashtra, home to India's financial capital Mumbai, has been the worst ...

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.