SINGAPORE: OCBC has made a S$150 million loan referencing SORA – the Singapore Overnight Average Rate – the first loan to use the new rate, the bank said on Tuesday (Jun 16), part of a major global effort to change lending benchmarks. Singapore’s current main lending benchmark, SOR, is calculated […]
Business
SINGAPORE: Business services firm Data Register and an associated company, Singapore Data Register, were both fined a total of S$4,500 on Jun 4 for several breaches under the Companies Act, including failing to open its office to the public. Data Register pleaded guilty for not holding an annual general meeting […]
SINGAPORE: The Ministry of Manpower (MOM) has issued 52 fines and ordered seven workplaces to cease operations over lapses in safe management measures as at Monday (Jun 15) afternoon, following the lifting of “circuit breaker” measures earlier this month. Six of the workplaces ordered to close were found to have […]
SINGAPORE: As Singapore draws closer to the next General Election, some campaign material suppliers say they have not received orders yet but are ready to quickly roll into action when needed, even though COVID-19 protection measures may still be in place. Printing company Republic Holdings, which has produced flyers and […]
NEW YORK: The United States on Monday (Jun 15) confirmed a Reuters report that it will amend its prohibitions on US companies doing business with China’s Huawei to allow them to work together on setting standards for next-generation 5G networks. The US Commerce Department and other agencies signed off on […]
LONDON: The world’s biggest asset manager BlackRock has pumped about 16 billion euros (US$18 billion) into 810 European companies since the end of January, more than half of them in distress due to the coronavirus pandemic, a source with direct knowledge of the matter told Reuters. Companies across the world […]
SAN FRANCISCO: Facebook on Monday (Jun 15) added a digital payments feature to its WhatsApp messaging service, starting in Brazil but with an eye to expanding around the world. WhatsApp users in Brazil can use the encrypted mobile messaging service to send money or make purchases, Facebook said in a […]
HONG KONG: Hong Kong’s Disneyland theme park said on Monday (Jun 15) it will reopen on Jun 18 to a reduced number of visitors and with enhanced health measures after the COVID-19 outbreak forced it to close in late January. The city has reported only a handful of new cases […]
Volkswagen AG’s Mexican unit will begin sending workers back to its plant in the central state of Puebla on Tuesday for “preparation and training eyeing a gradual start further ahead,” the company said in a statement on Sunday. MEXICO CITY: Volkswagen AG’s Mexican unit will begin sending workers back to […]
SINGAPORE: Singapore’s unemployment rate climbed to its highest in a decade and total employment fell to a record low in the first quarter of this year, as the labour market felt the early effects of COVID-19. According to the latest labour market report released by the Ministry of Manpower (MOM) […]