Keppel Infra-led consortium to buy Eco Management Korea for $666m

SINGAPORE (THE BUSINESS TIMES, REUTERS) – A consortium led by Keppel Infrastructure Trust (KIT) has agreed to buy South Korea’s Eco Management Korea Holdings (EMK) for 626.1 billion won (S$666.1 million) in cash. EMK is a waste management and recycling services provider and has six waste-to-energy plants and five sludge drying facilities located across South […]

S. Africa’s Ramaphosa on knife edge as crises spur leadership race

President of ruling African National Congress and South Africa President Ramaphosa addresses the 6th National Policy Conference in Johannesburg on July 29, 2022. (AP PHOTO) JOHANNESBURG – South Africa's Cyril Ramaphosa is beset by crises that have cast doubt on his presidency and left him vulnerable to a leadership challenge as his party begins the […]

South Korea’s economy accelerates, giving scope to keep raising rates in inflation fight

SEOUL (BLOOMBERG) – South Korea’s economic expansion accelerated last quarter, underpinned by household and government spending, providing scope for the central bank to keep raising interest rates as it tries to rein in inflation. The economy expanded 0.7 per cent in the three months through June even as Russia’s war on Ukraine sent energy prices […]

South Korea targets to source 50% of chip materials supply locally by 2030

SEOUL (REUTERS) – South Korea said on Thursday (July 21) it was aiming at local sourcing for half of its materials, components and equipment in semiconductor manufacturing by 2030, up from 30 per cent currently. The plan is part of the Yoon Suk-yeol administration’s strategy to strengthen the industry. South Korea, home to top memory chip makers Samsung and […]

Many major economies to enter recession in next 12 months: Nomura

TOKYO (BLOOMBERG) – Many major economies will enter “multiple recessions” over the next 12 months amid tightening government policies and rising living costs, pushing the global economy into a synchronised growth slowdown, according to Nomura Holdings. The brokerage expects the euro zone, Britain, Japan, South Korea, Australia and Canada to fall into recession along with the […]

Global funds offloaded $55.8 billion of stocks across seven Asia markets in Q1

SINGAPORE (BLOOMBERG) – Some of Asia’s biggest stock and bond markets outside China are seeing greater outflows than in previous market crises, and the process may just be getting under way. Global funds offloaded a net US$40 billion (S$55.8 billion) of equities across seven regional markets last quarter, exceeding any three-month period characterised by systemic […]