The Straits Times - Business

Kraft Heinz agrees to sell Russian baby food business to local maker

Fri, 31 Mar 2023 22:34:03 +0200

April 01, 2023 4:34 AM

Chernogolovka has been one of the major beneficiaries of a corporate exodus from Russia.

CEOs delay and halt investments, expect upcoming recession: Survey

Fri, 31 Mar 2023 14:28:29 +0200

March 31, 2023 8:28 PM

SINGAPORE – Local bosses are in full agreement that a recession is in store this year with many planning to delay or halt planned investments, a new survey noted.

Singapore stocks end week on a high, STI up 0.1%

Fri, 31 Mar 2023 12:53:35 +0200

March 31, 2023 6:53 PM

SINGAPORE – A little less angst among investors surrounding the banking sector and inflation helped local shares join their regional peers to end a rocky week on a slightly more positive note.

CGS CIMB hikes Sembmarine stock price target to 19 cents after mega contract win

Fri, 31 Mar 2023 11:02:32 +0200

March 31, 2023 5:02 PM

CGS-CIMB raised its target price for Sembcorp Marine to 19 cents from 12 cents previously.

27 job types get bonus points for employment pass approvals

Fri, 31 Mar 2023 11:00:00 +0200

March 31, 2023 5:00 PM

Fresh EP applicants will be assessed under a new, points-based framework from Sept 1, 2023.

DBS apologises for ‘embarrassing’ service outage, sets up special committee to look into incident

Fri, 31 Mar 2023 10:33:12 +0200

March 31, 2023 4:33 PM

SINGAPORE – DBS Bank has apologised to its shareholders and customers for disruptions to its digital banking services.

UK economy grows in Q4, avoids recession

Fri, 31 Mar 2023 08:23:33 +0200

March 31, 2023 2:23 PM

LONDON - Britain’s economy grew in the fourth quarter of last year, official data showed on Friday, confirming the country narrowly avoided falling into recession last year.

Alibaba, JD.com awaken China tech’s long-dormant IPO machine

Fri, 31 Mar 2023 08:02:03 +0200

March 31, 2023 2:02 PM

Alibaba’s logistics arm, Cainiao Network Technology, has kicked off discussions with banks for an IPO.

Lack of upskilling may drive workers to leave food services industry: NTUC report

Fri, 31 Mar 2023 07:30:00 +0200

March 31, 2023 1:30 PM

SINGAPORE - More than six in 10 workers in the food services sector here are considering exiting the industry “in the foreseeable future”, driven primarily by a lack of skills development and training, a report by NTUC LearningHub found.

Nominations open for 2023 Enterprise 50 Awards

Fri, 31 Mar 2023 06:54:36 +0200

March 31, 2023 12:54 PM

A Sustainability Special Recognition Award will debut at this year's E50 Awards.

Dick Lee family’s bungalows sold for $61.1 million, with proceeds going to charity

Fri, 31 Mar 2023 05:27:44 +0200

March 31, 2023 11:27 AM

The names of the charities were not disclosed.

OCBC CEO Helen Wong’s 2022 pay reaches $11.2 million, behind other local bank chiefs

Fri, 31 Mar 2023 05:05:09 +0200

March 31, 2023 11:05 AM

Ms Wong’s salary for 2021 was $7.6 million, after she was appointed the group CEO on April 15 of that year.

China manufacturing activity expands at slower pace in March

Fri, 31 Mar 2023 04:03:28 +0200

March 31, 2023 10:03 AM

Hopes of a strong post-Covid economic recovery are faltering amid weaker global demand and continued property slump.

GIC to jointly buy Japan’s top HR software developer for $3.5 billion: Nikkei

Fri, 31 Mar 2023 03:27:48 +0200

March 31, 2023 9:27 AM

The deal would be the largest private equity acquisition of a software company in Japan.

Charming Garden in Bukit Timah makes second bid at en bloc sale with unchanged $175m guide price

Fri, 31 Mar 2023 02:58:04 +0200

March 31, 2023 8:58 AM

The 999-year leasehold condo was first put up for collective sale at the same price in December 2022.

Tesla pursues building new US plant with China’s dominant battery maker

Fri, 31 Mar 2023 02:34:43 +0200

March 31, 2023 8:34 AM

Tesla wants to pursue a deal similar to one that Ford Motor announced last month with the battery maker, known as CATL.

Average Wall Street bonus plunges 26% to $234,600

Fri, 31 Mar 2023 02:12:43 +0200

March 31, 2023 8:12 AM

The average bonus was the lowest since 2019 and the biggest percentage decline since the financial crisis

China’s biggest property developer posts first loss since 2007 listing

Fri, 31 Mar 2023 01:58:24 +0200

March 31, 2023 7:58 AM

Country Garden signaled it would pivot away from its expansion in smaller cities.

Fed’s emergency loans to banks fall in sign of easing turmoil

Fri, 31 Mar 2023 01:42:19 +0200

March 31, 2023 7:42 AM

Banks reduced their borrowings from two Fed backstop lending facilities in the most recent week.

White House proposes tougher US bank rules, new tests after crisis

Fri, 31 Mar 2023 01:33:16 +0200

March 31, 2023 7:33 AM

None of the measures requires Congressional approval though it’s not clear if regulators will enact them.