News
Troubled Gucci gets new CEO as Luca de Meo takes over Kering
KERING appointed Francesca Bellettini as the new head of its troubled Gucci label on Wednesday as Luca de Meo took over the reins of the French luxury group.Bellettini, who...
US: Wall St opens flat ahead of Fed’s policy decision
[NEW YORK] Wall Street’s main indexes opened subdued on Wednesday (Sep 17) ahead of a widely anticipated interest-rate cut from the Federal Reserve later in the day, while Nvidia...
Indonesia central bank delivers surprise rate cut to boost growth
[JAKARTA] Indonesia’s central bank delivered another surprise interest rate cut on Wednesday (Sep 17), its sixth cut since it kicked off an easing cycle in September last year, saying...
Former Hyflux legal officer not aware of power plant in bid for Tuaspring project
[SINGAPORE] The former legal officer of Hyflux tasked with reviewing the water purchase agreement for the company’s tender for the Tuaspring integrated water and power project did not know...
Openspace Ventures rebrands as Openspace Capital, launches two new funds
The equity growth offering seeks to tap MAS’ EQDP, while the private credit strategy presents companies with more options for capital[SINGAPORE] Venture capital firm Openspace Ventures has rebranded as...
Hong Kong to speed up development of border tech hub, John Lee says
Absent bold new measures, the city’s housing market is likely to remain under pressure, with home values hovering near their lowest since 2016[HONG KONG] Hong Kong’s leader said the...
Indonesia sovereign wealth fund INA targets data centres, AI in healthcare, renewables
[SINGAPORE] The Indonesia Investment Authority (INA) is prioritising digital infrastructure, healthcare and renewables as the sovereign wealth fund seeks foreign partners and supports the nation’s economic development, its chief...
Morgan Stanley CIO favours 60/20/20 portfolio strategy with gold as inflation hedge
A 60/20/20 portfolio strategy that includes 20 per cent gold is a more resilient inflation hedge at a time when US equities are offering historically low upside over Treasuries and...
Trump says US has a buyer for TikTok
[WASHINGTON] President Donald Trump said on Tuesday (Sep 16) that the US and China have a deal that will keep the short-video app TikTok operating in the United States,...
Elon Musk’s xAI lays off 500 people training its Grok chatbot
Elon Musk’s artificial intelligence startup xAI has laid off 500 workers from its data annotation team, which helps train its Grok chatbot.The layoffs were earlier reported by Business Insider.The...
