-DBS CEO says tough for digital banks to muscle into Singapore
Singapore’s digital banks will find it hard to carve out space in the city-state’s saturated market, said Piyush Gupta, the CEO of DBS Group (DBSM.SI), Southeast Asia’s biggest lender.
Cowed by Chinese regulators, Didi plans to delist from New York months after debut
Ride-hailing giant Didi Global (DIDI.N) said it will delist from the New York stock exchange just five months after its debut and pursue a listing in Hong Kong – having raised the ire of Chinese regulators for ignoring a request to put its U.S. IPO on hold.
China’s Kaisa fails to get bondholders nod to extend maturity, risks default
Chinese property developer Kaisa Group Holdings Ltd (1638.HK) said on Friday it failed to secure the minimum 95% approval it needed from offshore bondholders to extend the maturity of a $400 million note due next week, raising the risk of a default.
Softbank Group shares slide 3% after Didi, Arm, Grab triple setback
Shares in Japanese conglomerate SoftBank Group Corp (9984.T) dropped over 3% on Friday after the giant tech investor was hit with three disappointments within 24 hours, including a poor Nasdaq debut for ride-hailing firm Grab (GRAB.O).
Omicron marches on as Biden prepares U.S. for grim winter
Australia, despite restrictions on international visitors, became the latest country on Friday to report community transmission of Omicron, a day after the coronavirus variant was found locally in five U.S. states.
Special Report: U.S. rushed contracts to COVID-19 suppliers with troubled plants
As the Trump administration debated whether to declare COVID-19 a national emergency early last year, a little-known U.S. health office issued a public plea to Big Pharma.
Saving the dinosaurs: Startups drive to electrify fossil-fuel cars
You can save your prized Aston Martin DB6, Porsche 911 or Mustang from the museum of combustion engine history. Or your Fiat 500 and Renault Clio, for that matter.
Bank of Ireland fined 24.5 mln euros over IT failures
Ireland’s central bank has fined Bank of Ireland (BIRG.I) 24.5 million euros ($27.8 million) over technology failures that the lender took more than a decade to fix.
China fines social media firm Douban for ‘unlawful’ release of information
The Cyberspace Administration of China (CAC) said on Thursday it had summoned and fined social media company Douban over unlawful release of information, as Beijing steps up efforts to control and “clean up” the internet space.
Valuations of Southeast Asian startups becoming ‘irrational’ -Golden Gate
Valuations of startups in Southeast Asia, home to popular online platforms such as Grab and Sea (SE.N), have become irrational due to heavy capital inflows from global investors, a partner at venture capital firm Golden Gate Ventures told Reuters.
