Entrepreneurship
Eyes turn to space to feed power-hungry data centres
TECH firms are floating the idea of building data centres in space and tapping into the sun’s energy to meet out-of-this-world power demands in a fierce artificial intelligence race.US...
OpenAI seeks government backing to boost AI investments
The proposal - unusual for a Silicon Valley tech giant - would theoretically reduce OpenAI’s borrowing costsCHATGPT creator OpenAI, the world’s largest private company, is asking the US government...
Oil settles down more than 1% at 2-week lows on fears of glut
[NEW YORK] Oil prices fell more than 1 per cent on Wednesday, settling at two-week lows on pressure from concerns of a possible global oil glut, but data showing signs of strong US...
Hard Assets for Uncertain Times
During periods of economic uncertainty, investors often turn to tangible assets that offer stability beyond traditional markets. Hard assets – physical items with lasting worth – have historically provided...
EV maker Seres steps out of Huawei’s shadow with Hong Kong listing debut
[HONG KONG] For years, Seres Group leaned on Chinese technology champion Huawei Technologies to transform an assembler of cheap minivans into the maker of the country’s top-selling luxury vehicle....
Coliwoo’s public offer of 5.3 million shares 20.7 times subscribed
[SINGAPORE] Coliwoo has drawn strong investor interest for its initial public offering (IPO), with 5.3 million public offer shares about 20.7 times subscribed.By the close of the public offer...
OCBC appoints Melvyn Low as group chief strategy and transformation officer
The industry veteran has held senior positions in cash management, trade and securities services at various regional and global banks[SINGAPORE] OCBC has appointed banking veteran Melvyn Low as its...
Global private equity funds consider return to China as investors pivot from US
Private equity-backed deals targeting Chinese companies have totalled US$25 billion so far this year[HONG KONG] Global private equity partners are eyeing a return to China after staying on the...
Volkswagen to develop chip for China smart cars with Horizon Robotics
The move would deepen the carmaker’s research and development capability ‘in China, for China’[SHANGHAI] Volkswagen said on Wednesday (Nov 5) that CARIZON, its joint venture with China’s Horizon Robotics,...
Hong Kong exchange profit jumps 56% on trading, IPO boom
The benchmark index has surged 29% driving stock and derivatives trading to records[HONG KONG] Hong Kong’s stock exchange reported another record quarter as trading and initial public offerings (IPOs)...
‘No misrepresentation of track record’ in Therme Group unit’s tender bid for wellness project: STB
An NYT report had accused Therme of exaggerating its track record to secure a deal in Ontario, Canada[SINGAPORE] There was “no misrepresentation of track record” in Therme Group Singapore’s...
17 exotic cars, US$500,000 private chef: First Brands’ Malaysian-born founder accused of looting US$700 million
Liquidators accuse Patrick James of raising funds with non-existent or doctored invoices [NEW YORK] At first, the sales invoice said US$179.84. Later, the bill said US$9,271.25 – 50 times...