From Belgian beer to German tomato, Europe’s energy crisis is spilling over

BRUSSELS – The Belgian brewer of Delirium Tremens beer is facing a real risk of halting production for the first time in more than a century as Europe’s energy crisis creates unexpected ripple effects across the region. From German tomato to Swedish bread, Russia’s squeeze on gas supplies is starting to hit sectors well beyond utilities […]

ComfortDelGro dropped from STI, replaced by liquor giant Emperador

SINGAPORE – Transport company ComfortDelGro has been dropped from Singapore’s Straits Times Index (STI) and replaced by recently listed Emperador in the September review of the benchmark index. The change to the STI, which tracks the performance of the 30 largest and most liquid companies listed on the Singapore Exchange (SGX), will take effect on […]

Pall Corp breaks ground on $140m facility in S’pore, boosting semiconductor industry

SINGAPORE – Filtration solutions producer Pall Corporation is setting up a new US$100 million (S$139.6 million) manufacturing facility in Singapore, which will support the semiconductor industry’s needs in Asia-Pacific. The facility will occupy a 2.8-hectare (about the size of seven football fields) campus that will include more than 18,000 sq m of manufacturing and office […]

The crypto world can’t wait for ‘the Merge’

LONDON (AFP, NYTIMES) – The cryptocurrency industry has endured a terrible year. A devastating crash wiped nearly US$1 trillion (S$1.39 trillion) from the market. Several companies filed for bankruptcy. Now the industry is fixated on a potential saving grace: a long-awaited software upgrade to the most popular cryptocurrency platform, Ethereum, which provides the technological backbone […]

Retailer Miniso to junk Japanese styling after Chinese outcry

BEIJING (BLOOMBERG, REUTERS) – Chinese budget retailer Miniso Group Holding apologised for styling itself as a Japanese designer brand and said it would make changes across its stores to rectify this, amid the latest wave of local nationalism fueled by geopolitical tension over Taiwan. The Guangzhou-based company, which has over 5,000 stores in China and abroad, has for […]

ESG label stripped from 23% of EU sustainable funds in fresh review

LONDON (BLOOMBERG) – Almost a quarter of funds that claim to “promote” sustainability under European regulations don’t deserve an “ESG” label, according to a fresh review by market researcher Morningstar. The analysis, which looked at funds classified as Article 8 within the EU’s Sustainable Finance Disclosure Regulation (SFDR), shows that 23 per cent don’t live […]

Five Chinese state-owned companies to delist from NYSE amid US tensions

SHANGHAI/HONG KONG (REUTERS) – Five Chinese state-owned companies, including oil giant Sinopec and China Life Insurance, said on Friday (Aug 12) they would delist from the New York Stock Exchange, amid economic and diplomatic tensions with the United States. The companies, which also include Aluminium Corporation of China (Chalco), PetroChina and a separate Sinopec entity, […]

Waste-to-Energy Company in Singapore Made a Wholly-Owned Subsidiary

TOKYO, Aug 8, 2022 – (JCN Newswire via SEAPRWire.com) – Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Heavy Industries Environmental & Chemical Engineering Co., Ltd. (MHIEC), part of MHI Group, have made a wholly-owned subsidiary of TuasOne Pte. Ltd., a special purpose company (SPC) for the business of the construction and operations of a waste-to-energy […]

Singapore state investors face headwinds but they possess the heft to deal with them

SINGAPORE – In the world of investments, size matters, as it allows for greater diversification and higher allocation to alternatives that are less vulnerable to market gyrations. That is why large sovereign wealth funds, such as Singapore’s GIC and Temasek, have managed to consistently deliver a steady stream of returns over the years on their […]

askST: What are some questions and checks before buying a ‘green’ product?

SINGAPORE – Greenwashing continues to be in the spotlight, with the Monetary Authority of Singapore announcing on Thursday (July 28) that funds sold to retail investors here under the label of meeting environmental, social and governance (ESG) standards will now have to back up their claims. The move comes amid new disclosure and reporting guidelines […]