Saturday, October 19

Tag: Southeast Asia

Suntory Beverage & Food Exits Nonalcoholic Drinks Business in Indonesia
29Dec By adminNo Comments
World

Suntory Beverage & Food Exits Nonalcoholic Drinks Business in Indonesia

Suntory Beverage & Food is exiting its nonalcoholic beverage business in Indonesia after 12 years of selling bottled tea, jelly drinks and other products in the Southeast Asian country.The Japanese company will transfer its 75% stake in Suntory Garuda Beverage to Garudafood, it said in a statement on Thursday. After the transfer, Suntory’s main focus in Indonesia will be the health-enrichment product category.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Singapore Fines Credit Suisse for Bankers’ Misconduct
28Dec By adminNo Comments
Money

Singapore Fines Credit Suisse for Bankers’ Misconduct

Dec. 28, 2023 12:08 am ETSingapore imposed a penalty of 3.9 million Singapore dollars (US$3.0 million) on Credit Suisse for failing to prevent or detect misconduct by its relationship managers.Credit Suisse bankers in Singapore had provided customers with inaccurate or incomplete post-trade disclosures, which led to clients being charged spreads above bilaterally agreed rates for 39 over-the-counter bond transactions, the Monetary Authority of Singapore said in a statement on Thursday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Singapore Fines Credit Suisse for Bankers’ Misconduct
28Dec By adminNo Comments
World

Singapore Fines Credit Suisse for Bankers’ Misconduct

Dec. 28, 2023 12:08 am ETSingapore imposed a penalty of 3.9 million Singapore dollars (US$3.0 million) on Credit Suisse for failing to prevent or detect misconduct by its relationship managers.Credit Suisse bankers in Singapore had provided customers with inaccurate or incomplete post-trade disclosures, which led to clients being charged spreads above bilaterally agreed rates for 39 over-the-counter bond transactions, the Monetary Authority of Singapore said in a statement on Thursday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Sumitomo Life to Buy Singapore Insurer in S$4.6 Billion Deal
22Dec By adminNo Comments
World

Sumitomo Life to Buy Singapore Insurer in S$4.6 Billion Deal

Updated Dec. 22, 2023 1:48 am ETSINGAPORE—Sumitomo Life Insurance has agreed to buy Singapore Life Holdings in a deal that will value the homegrown insurer at 4.6 billion Singapore dollars (US$3.47 billion).Under the deal, the Japanese company will pay S$1.6 billion for asset manager TPG’s 35.48% stake in Singlife. It will also offer to acquire the remaining shares it doesn’t already own in the Singapore insurer.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Singapore’s Non-Oil Domestic Exports Rose in November
18Dec By adminNo Comments
World

Singapore’s Non-Oil Domestic Exports Rose in November

SINGAPORE—Singapore’s non-oil domestic exports in November increased for the first time in over a year, snapping a run of contractions as shipments of non-electronic products grew.Non-oil domestic exports from the Southeast Asian trading hub in November grew 1.0% from a low base a year ago, Enterprise Singapore said Monday. That compared with a revised 3.5% contraction in October that had marked a 13-month stretch of declines.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Philippine Central Bank Stands Pat on Rates
14Dec By adminNo Comments
World

Philippine Central Bank Stands Pat on Rates

Dec. 14, 2023 2:28 am ET|WSJ ProThe Philippine central bank left its benchmark rates unchanged Thursday, saying the risk of higher inflation in the populous Southeast Asian nation will remain into 2024.The Bangko Sentral ng Pilipinas said it would keep its overnight reverse repurchase rate steady at 6.50%, in line with the unanimous expectation of analysts polled by The Wall Street Journal. It held its benchmark lending rate at 7.00%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Will America Betray Ukraine? – WSJ
14Dec By adminNo Comments
Business

Will America Betray Ukraine? – WSJ

Washington is ready to close up shop for the holidays, and so far there’s no deal for more weapons for Israel and Ukraine with changes to border security. The question to start asking is whether the U.S. is really going to let partisan divisions turn into a betrayal of Ukraine.Hard to believe, but perhaps it is. President Biden warned Tuesday that America is “at a real inflection point in history” that could “determine the future” of Europe. He is right on that point. Without more U.S. weapons, Ukraine will lose to Vladimir Putin. One result would be an unstable Europe. The blow to U.S. power and influence would be on the order of Saigon in 1975.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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TikTok Strikes Back in Indonesia
13Dec By adminNo Comments
Money

TikTok Strikes Back in Indonesia

The Indonesian government executed its crackdown on “social shopping” in the name of protecting local small businesses. TikTok ended up taking over a local champion. The deal makes good sense for TikTok, in more ways than one. It gets a way back into its key e-commerce market in Southeast Asia. It also sends a shot across the bow of regulators in other countries that might be contemplating similar moves.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Why Everyone Wants to Be Vietnam’s Friend
13Dec By adminNo Comments
World

Why Everyone Wants to Be Vietnam’s Friend

Vietnam is finding the center of a great power rivalry isn’t such a bad place to be. Everyone is sidling up to the communist nation these days.China’s Xi Jinping became the latest world leader to strengthen ties with the country by paying a visit to Hanoi this week, three months after Vietnam upgraded its relationship with the U.S. to the highest rung in its diplomatic hierarchy during a visit by President Biden.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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Economists Keep Singapore 2023 Growth Forecast Steady, Trim 2024 View in MAS Survey
13Dec By adminNo Comments
World

Economists Keep Singapore 2023 Growth Forecast Steady, Trim 2024 View in MAS Survey

Dec. 12, 2023 11:04 pm ETSINGAPORE—Experts surveyed by Singapore’s central bank have maintained their economic growth forecast for this year, but trimmed their views for 2024, flagging risks from an external slowdown.The Monetary Authority of Singapore’s December survey, released Wednesday, showed that the median projection of economists and analysts is for gross domestic product growth of 1.0% in 2023. That is unchanged from the previous quarterly survey, in which the forecast was lowered from 1.4%.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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