Entrepreneurship
Singapore stocks edge lower ahead of key US data; STI down 0.2%
[SINGAPORE] Singapore stocks ended lower on Tuesday (Dec 16), ahead of a slate of US economic data due later in the day.The benchmark Straits Times Index (STI) fell 0.2...
‘Shadow banking’ growing at double the rate of traditional lenders, FSB says
The sector’s rapid growth alarms regulators over weak transparency and risks spilling into broader financial markets[LONDON] The non-bank financial sector’s share of global assets grew to 51 per cent,...
MUFG’s next CEO Hanzawa seeks growth to close gap with global rivals
Hanzawa, 60, who is currently the head of the main banking unit, will succeed Hironori Kamezawa on Apr 1[TOKYO] Junichi Hanzawa, the next chief executive officer of Mitsubishi UFJ...
China AI chip firm Biren to launch Hong Kong IPO in coming weeks: sources
The company is banking on rapid growth as China seeks to develop domestic alternatives to US semiconductors[BEIJING/HONG KONG] Chinese artificial intelligence (AI) chip startup Biren Technology aims to launch...
Asian markets retreat ahead of US jobs as tech worries weigh
ASIAN markets extended losses with Wall Street on Tuesday as investors jockeyed for position ahead of key US jobs and inflation data, while sentiment remains subdued by worries over...
Economists at CBA, NAB call for Australia February rate hike
RBA Governor Michele Bullock has ruled out further policy easing last week after keeping rates steady[SYDNEY] The Commonwealth Bank of Australia and the National Australia Bank, two of the...
McKinsey plots thousands of job cuts in slowdown for consulting industry
The firm’s revenue growth has flatlined in the last five years, leading to a reset after rapid hiring over the prior decade[NEW YORK] As McKinsey partners gathered in the...
Bjak founder weighs IPO as Malaysia insurtech expands abroad
[KUALA LUMPUR] Bjak, Malaysia’s largest online insurance aggregator, is mulling an initial public offering (IPO) within the next two years as it seeks to enter Europe.Bjak is eyeing new...
PayPal applies to become a bank as US loosens regulatory reins
The application comes on the heels of a number of cryptocurrency firms gaining preliminary regulatory approval to become banks last week[NEW YORK] PayPal Holdings applied to become a bank...
JetBlue flight averts mid-air collision with US Air Force jet
[WASHINGTON] A JetBlue passenger jet bound for New York took evasive action on Friday to avoid a mid-air collision with a US Air Force tanker plane near Venezuela, a...
