The Business Times

Singapore government not accumulating more reserves than necessary: Wong The finance minister also took issue with a suggestion by Workers' Party MP He Ting Ru's suggestion that "by saving for the future, we are discount…

24 flats at Haig Road up for collective sale with S$48m indicative price The freehold residential development sits on 27,389 square feet (sq ft) of land, which translates to S$1,252 per square foot per plot ratio. Accord…

Singapore could take action to tackle higher costs arising from war in Ukraine: Wong "We are monitoring the external situation and the risk for our economy closely — risks in terms of both growth and inflation. If the si…

Sea FY2021 losses widen to US$1.3 billion, revenue up 127.5 per cent In a filing on Tuesday (Mar 1), the NYSE-listed company reported a 127.5 per cent increase in FY2021 revenue from US$4.4 billion to US$9.9 billion, dri…

Billionaire founder of Chinese hotpot chain Haidilao steps down as CEO The firm said Zhang Yong will shift his focus to long-term strategy planning. The move, which comes amid efforts by Haidilao to slash store numbers,…

OPEC+ CONVENES AMID GLOBAL OIL SUPPLY CRUNCH FEARS As crude prices hit the roof and continue to soar over fears of a global supply crunch amid the Russia-Ukraine crisis, the world is watching the ministerial meeting of t…

MOM defers migrant domestic workers' medical exams to ease healthcare industry pressure Employers who received January or February notices for their migrant domestic workers and female work permit holders' medical examin…

Visa, Mastercard block Russian financial institutions after sanctions Visa said on Monday (Feb 28) it was taking prompt action to ensure compliance with applicable sanctions, adding that it will donate US$2 million for h…

Glints rides on remote hiring boom, with eye towards IPO "Because of the growth of the tech industry, so much more capital is being pumped in and we see a lot of demand (for talent), but supply hasn't quite been catching…

Electric vehicles to have higher charging limit, more options: LTA-SSC working group Looking at new technologies and infrastructure to support the safe installation, maintenance and operation of charging, the working gro…

#BTExplains: What happens on the detachment dates of SGX SPACs? Pegasus and VTAC units will detach on Mar 7, while Novo Tellus units will do so on Mar 14, making up the first batch of SPAC detachments on SGX. BT explains…

Baode Building sold for S$27m in collective sale The 8-storey residential building on 8 Lorong 35 Geylang, which comprises 14 apartment units on a site area of 1,031.4 square metres (sq m) (around 11,102 square feet), wa…

Petrochem industry needs a 'just transition' to green economy: Workers' Party According to a 2019 answer to a Parliamentary Question, the energy and chemicals industry employed about 28,000 people in 2018. The number wen…

#BTOPINION: Large residential en-bloc sites can work despite cooling measures In the latest #THELEVELGROUND, BT writes how a larger site which offers a bigger canvas for creative developers to develop a leading-edge prod…

New Chinese hacking tool found, spurring US warning to allies The "highly sophisticated" Chinese hacking tool, called Daxin, has been able to escape public attention for more than a decade, according to Symantec. In its…

#BTOPINION: Singtel's redevelopment of Comcentre to unlock value is a well-trodden path In the latest #HOCKLOCKSIEW, BT identifies that Singtel's over S$2 billion redevelopment of its Comcentre headquarters will diversif…

Indonesia may see spike in inflation, faster interest rate hikes due to war: analysts Although Indonesia does not have strong trade and investment links with either Ukraine or Russia, analysts say the war will likely pus…

Labour MPs call for foreign manpower tweaks, expanded training to support local workers Enhancing the Employment Pass (EP) framework is among the most urgent tasks needed to improve conditions for professionals, managers…

Hikes in DC rates mirror broad-based recovery in most segments of S'pore property market The government has raised development charge (DC) rates for the landed and non-landed residential, commercial and industrial use gr…

Isolating Russia: 10 sectors where businesses are reacting BT's Wong Pei Ting takes stock of the growing list of companies that are looking to pull out of the energy and metals powerhouse, which is in the hot seat for in…

Lockdown fears spark panic buying in Hong Kong Uncertainty over mixed messaging from the authorities about whether or when the city would be in lockdown for an upcoming population-wide testing period triggered a mass cle…

Ron Sim's V3, which owns OSIM, files for Hong Kong IPO The group owns the OSIM brand — known for its massage chairs and relaxation products; luxury tea brand TWG Tea; nutritional supplement retailer ONI Global; and Futur…

Robust increase in ultra-wealthy individuals in Singapore and globally in 2021: report Knight Frank's latest 2022 edition of The Wealth Report found that in Singapore, the number of UHNWIs rose 8.6 per cent to 4,206 in 2…

Sea’s e-commerce arm Shopee exits France a few months into Europe foray The site will close on Mar 6, Shopee said in a notice on its website in the country, promising to complete all paid orders till then. France was one…

Biden to host South-east Asian leaders in Washington in late March This special summit, to commemorate 45 years of US-Asean relations, will be held on Mar 28 and 29 in Washington, the White House announced on Monday (Feb…

Around US$23m raised via crypto to fund Ukraine's defence efforts This figure, raised through over 24,000 crypto-asset donations in 5 days, includes a single donation worth US$1.86 million, which "appears to have origina…

Vast Russian army convoy spotted north of Kyiv Satellite photos provided by Maxar, a US company, showed that the convoy — which had been massing since Sunday — had mushroomed to more than 64 km of military vehicles. It s…

Growing demand for remote tech talent in Vietnam, Indonesia The hunt for tech talent is not just raging within Singapore, but also intensifying in the remote hiring market in South-east Asia, as recruiters see more deman…

Luxury home prices to climb 5.7% this year: Knight Frank "Asian cities are expected to trail slightly in 2022, but with cities such as Singapore (+2 per cent) already announcing higher rates of stamp duty, some investors…

DBS, OCBC, UOB said to be cutting financing for Russian energy trades The limits include a halt on issuing so-called letters of credit in US dollars for trades involving Russian oil and liquefied natural gas, said source…