SEOUL: HYBE, the agency representing top-selling South Korean boy band BTS, withdrew its plan to take control of SM Entertainment, the company said on Sunday (Mar 12). The move is seen as ending a weeks-long takeover battle between HYBE and social media giant Kakao. HYBE said its decision to haltContinue Reading
SINGAPORE: Asia-focussed telecoms tower firm Edotco Group, its Malaysian parent Axiata and a Japanese backer are in talks with investors for stake sales, in a deal that could raise about US$1.2 billion, four sources familiar with the matter said. The move comes as global infrastructure funds are pouring huge sumsContinue Reading
NEW YORK: Former Goldman Sachs banker Roger Ng was sentenced to 10 years in prison on Thursday (Mar 9), after he was convicted of helping loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund. A jury in federal court in the New York City borough of Brooklyn last AprilContinue Reading
TOKYO: Japanese Prime Minister Fumio Kishida said on Friday (Mar 10) he has instructed the ruling coalition to propose a package of measures to beat rising prices next week, in a move aimed at shoring up a fragile economic recovery from pandemic-induced doldrums. The instruction was made during a meetingContinue Reading
SEOUL: South Korea’s central bank said the lagged effects of its aggressive streak of monetary tightening would have a bigger negative impact on economic growth this year than in 2022. The Bank of Korea (BOK) estimated that its 300 basis points of rate increases in the current tightening cycle wouldContinue Reading
BEIJING: China’s annual consumer inflation slowed down in February as consumers remained cautious despite the abandonment of strong pandemic controls late last year, official data showed on Thursday (Mar 9). Producer deflation extended into a fifth month. The consumer price index (CPI) for the month was 1.0 per cent higherContinue Reading
TOKYO: Japan’s economy narrowly averted a recession in the final months of 2022, barely growing on frail consumption after shrinking in the third quarter, revised data showed, underscoring the challenge for policymakers trying to shore up a wobbly recovery. Record high inflation and slowing global growth amid sweeping monetary tighteningContinue Reading
HONG KONG: Hong Kong’s Cathay Pacific Airways reported on Wednesday (Mar 8) an annual loss of HK$6.55 billion (US$834.42 million) for 2022, wider than the previous year’s HK$5.53 billion loss, but was positive about the outlook now that quarantine is no longer required. In January, the airline forecast a loss ofContinue Reading
TAIPEI: Taiwan’s exports in February fell annually for a sixth straight month to their lowest level in two years due to a deteriorating global economy, with the outlook remaining dim for at least the first half of the year. Exports last month were down 17.1 per cent by value fromContinue Reading
In place of stores shut by Tiffany, Valentino, Burberry and other big brands over the last three years, including in Tsim Sha Tsui, Central and Causeway Bay shopping districts, pharmacies and sports apparel outlets for brands like Adidas and Sweaty Betty have moved in. Luxury and big brand retail companiesContinue Reading