SINGAPORE: Singapore Airlines (SIA) said on Monday (Jun 8) that it had secured about US$1 billion in credit facilities, in addition to the S$8.8 billion it recently raised from a rights issue, to help it weather the COVID-19 pandemic. Global airlines have taken a huge blow as curbs imposed to […]
Business
As the original epicentre of the COVID-19 outbreak, China was the first to impose a strict lockdown on millions of its residents. Business is almost as usual for some companies now – albeit with precationary measures to prevent new infections. Money Mind reports. SINGAPORE: Around the world, many countries are […]
SEOUL: A South Korean court will rule as soon as Monday (Jun 8) whether to send Samsung Group heir Jay Y. Lee back to jail after more than two years of freedom, as new allegations dog the executive and cast a pall over the country’s top conglomerate. Lee, 51, is […]
WASHINGTON, DC: The Federal Reserve will meet next week for the first time since US states began easing shutdowns imposed to stop the coronavirus pandemic, unexpectedly boosting employment numbers after two months of massive layoffs. The world’s largest economy added 2.5 million jobs and the unemployment rate fell in May, […]
SINGAPORE: The strong growth in foreign currency deposits in Singapore this year has come from diverse sources – domestic, regional and beyond the region – and for varied reasons, said the Monetary Authority of Singapore (MAS) on Sunday (Jun 7). “No single region or country source dominates,” it added in […]
NEW DELHI: Indian oil-to-telecoms conglomerate Reliance Industries said on Sunday (Jun 7) that the Abu Dhabi Investment Authority (ADIA) will buy 1.16 per cent of its digital unit Jio Platforms for 56.83 billion rupees (US$752 million). ADIA’s investment in Jio Platforms, which comprises Reliance’s telecoms arm Jio Infocomm and its […]
SINGAPORE: About 1.5 terabytes of sensitive data was reportedly stolen from a US subsidiary of ST Engineering Aerospace in a massive data breach that was discovered on Friday (5 June), according to cybersecurity firm CYFIRMA . CYFIRMA said its initial investigation showed the breach at VT San Antonio Aerospace started […]
REUTERS: Facebook CEO Mark Zuckerberg on Friday said he would consider changes to the policy that led the company to leave up controversial posts by President Donald Trump during recent demonstrations protesting the death of an unarmed black man while in police custody, a partial concession to critics. Zuckerberg did […]
REUTERS: US President Donald Trump on Friday (Jun 5) said Warren Buffett, often regarded as the world’s greatest investor, made a mistake by recently exiting a multi-billion dollar investment in the airline industry. Trump made his assessment at the White House, shortly after the US Labor Department reported an unexpected […]
SINGAPORE: About 3,800 companies closed down in April, comparable to the average of 3,700 recorded in the same month over the past five years, said Senior Minister of State for Trade and Industry Chee Hong Tat on Friday (Jun 5). However, business cessation could see an “uptick” in the coming […]