News
Audi Brussels shuts down, cutting 3,000 jobs as Europe’s auto woes deepen
AN AUDI Factory in Brussels billed as the “cradle” of the German carmaker’s electric drive is shutting down production for good on Friday (Feb 28), the latest sign of...
Porsche overtakes Ferrari as million-dollar car of the moment
THIS month, as car enthusiasts converge on Florida for two weeks, they will find 14 Porsches with estimates straddling the US$1 million mark-two more than the dozen Ferraris with...
UOL H2 net profit falls 60% in absence of one-time gain
PROPERTY player UOL Group posted a 60 per cent fall in net profit to S$227.8 million for the six months ended Dec 31, 2024. This was mainly due to...
US multifamily homes, offices find favour among private equity investors
THE multifamily sector in the US is fast catching the attention of private equity investors, including those from Asia, such as South Korea’s Samsung SRA Asset Management. One of...
GuocoLand inks MOU to jointly develop UEM Sunrise’s land bank in Iskandar Puteri
GUOCOLAND will partner Malaysia’s UEM Sunrise to develop selected freehold land parcels in Iskandar Puteri, within the Johor-Singapore Special Economic Zone (JS-SEZ). This is under a memorandum of understanding...
Mercedes set to cut jobs in China as local competition heats up
MERCEDES-BENZ Group and its subsidiaries are planning to cut up to 15 per cent of the automaker’s workforce in China, mainly within its financing and sales units, as the...
Some analysts downgrade CDL shares, reduce price target on boardroom tussle
ANALYSTS believe that the ongoing feud between CDL’s executive chairman Kwek Leng Beng and chief executive officer and his son, Sherman Kwek, could cause an overhang on the group’s...
Hong Kong exchange’s 2024 profit rises 10% on higher trading revenues
HONG Kong’s bourse operator reported on Thursday a 10 per cent rise in profit in 2024, beating forecasts, bolstered by a sharp jump in trading revenues after China’s announcement...
Top Thai hospital operator hastens expansion on foreign demand
THAILAND’S biggest private hospital operator will add more new beds than previously planned on expectations that an ageing local population and foreign demand for affordable healthcare services will further...
Bain Capital mulls US$10 billion sale of Rocket Software: sources
PRIVATE equity firm Bain Capital is weighing options, including a sale, for Rocket Software that could value the US automation software provider at as much as US$10 billion, including...
