The Business Times

Twitter sued for mass layoffs by Musk without enough notice The Business Times has reached out to Twitter’s Singapore office as well as Singapore’s Ministry of Manpower (MOM).

Caution reigns at state land tenders, despite developers’ low unsold private housing inventory “It was thought that the Bukit Timah Link site, which is relatively small and therefore less risky, would generate greater in…

📊November 4 results round-up: 1. OCBC Q3 profit rises 31% to S$1.6b 2. CapitaLand Investment RevPAU up 43% in Q3 on higher ADR, occupancy 3. Frasers Hospitality Trust posts 15.9% rise in H2 DPS on industry recovery 4. A…

Singapore retail sales up 11.2% in September, extending August’s growth Excluding motor vehicles, retail sales expand by 16.8% from a year ago, and 4.2% from the previous month, on a seasonally adjusted basis.

US offers bounty for Singaporean over North Korea oil shipments The director of Singapore-based shipping company Swanseas Port Services, is accused of directing the delivery of petroleum products to North Korea and using…

Fintech funding holds strong in 2022, but signs of headwinds ahead “You’re starting to see more investors ask questions around profitability, and ultimately margins and unit economics,” says a venture capital firm.

Twitter to start layoffs on Friday: internal email “In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday,” said the email.

After latest rate hike, Federal Reserve looks set to drive US economy into recession The markets initially rallied before petering out, and the biggest “Fed day” selloff in more than a year ensued.

OCBC Q3 profit rises 31% to S$1.6b It saw a quarterly net interest income gain of 44% to S$2.1 billion, crossing the S$2 billion mark for the first time.

Bank of England hikes rate by biggest amount in 33 years It is the Bank of England's biggest rate rise since 1989 as it warned of a “very challenging” outlook for the economy.

Ex-Google top execs launch wealth platform targeting the affluent but not wealthy About half of Arta’s 67-member team is made up of former Google employees, including CEO Caesar Sengupta.

#FutureofFinance: Driving personalisation while managing technology risks Data and digital technologies have enabled financial institutions to drive personalisation for customers, but robust risk management and appropria…

Morgan Stanley to start layoffs in coming weeks as dealmaking slows: sources In the Asia-Pacific, Morgan Stanley has drafted up a list of staff members considered redundant, who will mainly come from teams that focus on…

Asean’s moment: Uncovering opportunities in disruptive times | webinar highlights Tightening monetary policies, an escalating Russia-Ukraine war and a sharp deceleration in global economic growth are pushing up prices wh…

Malaysia raises key policy rate to 2.75% in fourth hike this year With this move, Bank Negara has delivered a cumulative 100 basis points in rate hikes this year.

Anothersole out to grow its footprint at home and abroad “People said [soft leather shoes] wouldn’t sell, that Singapore is so hot, and it’s hard to maintain leather,” says entrepreneur Benny Chee. Six years on, his foot…

📊November 3 results round-up: 1. DBS Q3 profit rises 32% to S$2.24b; declares S$0.36 per share dividend 2. SingPost sinks into the red with S$9.9m loss in H1 3. NetLink NBN Trust posts 36% jump in H1 net profit to S$54.…

Singapore’s crypto hub ambitions do not involve trading, speculating in cryptos: Ravi Menon The real value in the crypto industry comes not from speculating in cryptocurrencies, but from tokenising assets for use cases t…

HDB resale volume down 24.1% in October as median price hits high of S$545,000: SRX, 99.co The median price of an HDB resale flat is at an all-time high at S$545,000, 35% higher than its pre-pandemic level in October 201…

#BTOpinion: Massive share buybacks not the answer; Hongkong Land needs restructuring to unlock value Despite spending millions on repurchasing shares, leading landlord Hongkong Land continues to see its share price trade…

Musk plans to eliminate half of Twitter jobs to cut costs Senior personnel on the product teams were asked to target a 50% reduction in headcount, sources say.

Singapore PMI shrinks further in October, mirroring weak factory activity across region The PMI dipped a further 0.2 point to post a second straight month of contraction at 49.7 in October, the lowest reading since June…

Federal Reserve jacks up interest rates again by 75 bps, hints at smaller increases ahead Fed Chair Jerome Powell said policymakers are still undecided about just how high rates would need to rise to curb inflation, and…

DBS Q3 profit rises 32% to S$2.24b; declares S$0.36 per share dividend Total income for the quarter came in at S$4.54 billion, 28% higher than the previous year.

HK’s ambitious plans to attract global talent miss the wood for the trees Observers say until wider concerns, especially those about Covid-19 travel restrictions, are addressed, the government’s schemes to stem Hong Kong…

#BusinessofTime: Gucci celebrates 50 years of watchmaking with high complication novelties The famed fashion house pairs unparalleled Swiss technical know­-how with the best in Italian design for its 2022 haute horlogeri…

More flights handled don’t equate to faster recovery in profitability, SIA Engineering says CEO Ng Chin Hwee said SIA Engineering has seen good traction in its recovery in the past half year.

Fintech companies suffer attrition rates due to ‘opportunity paradox’ Potential candidates look to join fintechs for opportunities to develop their careers, yet they leave for the same reasons.

Singaporeans must take charge of careers by identifying new opportunities: Tan See Leng A strong economy remains the “essential foundation and key driver” of creating opportunities for Singaporeans, says Manpower Ministe…