Business
Nio to raise HK$4 billion from equity placement to fund R&D
Chinese electric vehicle (EV) maker Nio on Thursday (Mar 27) announced plans to raise HK$4 billion (S$688 million) through a share…
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Business
SingPost completes A$1 billion sale of Australian logistics business
The divestment generated A$781.5 million in gross proceeds and an estimated gain of S$289.5 million Singapore Post (SingPost) said on…
News
Porsche, Mercedes face 3.4 billion euros hit from Trump auto tariffs
To offset the impact, manufacturers may have to raise prices or shift more production to the US Porsche and Mercedes-Benz Group will be…
Business
Digital Surges Ahead as India’s Media and Entertainment Sector Hits $29 Billion, Annual FICCI-EY Report Reveals
India’s media and entertainment sector hit INR2.5 trillion ($29.4 billion) in 2024, according to the annual Federation of Indian Chambers…
Business
Singapore fund inflows surge 167% to S$7.6 billion for 2024: Morningstar
Total net inflows into Singapore-registered funds hit S$7.6 billion for 2024, a surge of 167 per cent from S$2.85 billion in 2023,…
Business
Turkey says Chery Auto’s partners to invest US$1 billion in plant to make 200,000 cars a year
[ANKARA/BEIJING] Turkey said on Wednesday (Mar 26) that Chery Automobile’s partners will invest US$1 billion in a manufacturing facility…
Business
UOB set to issue US$2 billion in dollar-denominated notes across 3 tranches
UOB is set to issue US$2 billion in a three-tranche US dollar-denominated senior bond offering, it said on Thursday (Mar 27). The notes…
Business
OpenAI nears record US$40 billion funding round led by SoftBank
OpenAI is close to finalising a US$40 billion funding round led by SoftBank Group – with investors including Magnetar Capital, Coatue…
Business
GameStop to borrow US$1.3 billion to fund Bitcoin buying spree
GameStop is seeking to sell US$1.3 billion of convertible bonds with no coupon payment to fund Bitcoin purchases as it embraces a strategy…
Business
Digital Core Reit acquires 20% stake in Osaka data centre for 13.2 billion yen
The purchase is expected to be about 1.8% accretive to the Reit’s distribution per unit Digital Core Real Estate Investment Trust (Reit)…
Business
Inside the Better-for-you Soda Boom, Following Pepsi’s $1.95 Billion Acquisition of Poppi
For years Andrea Baule, a home and design publicist in New York City, would drink a can of Sprite daily. With added sugar and fillers, she…
Business
Frasers Centrepoint Trust to buy rest of Northpoint City for S$1.17 billion
The manager of Frasers Centrepoint Trust (FCT) on Tuesday (Mar 25) announced that it has entered into unit purchase agreements with FCL…
Business
Korean Air finalises US$32 billion aircraft deal with Boeing, GE
Korean Air has finalised a deal to purchase up to 50 Boeing aircraft, the United States said on Monday, a move that comes as President…
Business
Xiaomi raises US$5.5 billion in share sale for business expansion
China’s Xiaomi Corp said on Tuesday it had raised US$5.5 billion in an upsized share sale that will help fund the acceleration of its…
Business
South Korea’s Hyundai to announce US$20 billion US investment, new steel plant
[WASHINGTON/SEOUL] South Korea’s Hyundai Motor Group is set to announce a US$20 billion investment in the US at the White House on Monday…
Business
BYD surpasses US$100 billion in annual sales, beating estimates
BYD’s sales last year surpassed the US$100 billion mark, leapfrogging Elon Musk’s Tesla on revenue, as the Chinese auto giant wows…
Business
China’s Xiaomi to raise up to US$5.27 billion from share sale
The money raised is earmarked for business expansion, investment in research and technology development and general corporate purposes…
Business
StubHub Files for IPO, Ticket Resale Platform’s Sales Climbed 29% to $1.8 Billion in 2024 but Swung to a Loss
StubHub, a secondary ticketing marketplace for live events, filed a registration statement Friday with the SEC for an initial public…
Business
AstraZeneca invests US$2.5 billion in Beijing, undeterred by probe
AstraZeneca will invest US$2.5 billion in a new research centre in Beijing, in a major show of commitment to China just months after the…
Culture
Apple Is Losing Over $1 Billion per Year on Streaming Service, Has 45 Million Apple TV+ Subscribers (Report)
Apple‘s video streaming business is still firmly in the red, according to a new report. The Apple TV+ premium subscription service is…
Culture
Apple losing over US$1 billion a year on streaming service, the Information reports
The tech giant has spent more than US$5 billion a year on content since launching Apple TV+ in 2019 but trimmed it by around US$500…
Business
RTL Group Posts Stable 2024 Results as Fremantle Still Targets Full-Year Revenue of $3.2 Billion
European media conglomerate RTL posted basically stable full fiscal 2024 yearly results on Thursday, driven by more than 40% growth in…
Business
Microsoft’s US$2.2 billion Malaysia investment solid amid US policy uncertainty
Microsoft’s US$2.2 billion investment in Malaysia remains firm, despite growing global uncertainties stemming from policy shifts by the…
Business
SoftBank Group to acquire Ampere Computing in US$6.5 billion AI-focused deal
The US chip startup makes data centre CPU chips based on a computing architecture from Arm Holdings that are used by firms such as Oracle…