Business

Starbucks latest target of Hong Kong protestors following condemnation by daughter of Maxim’s Caterers founder

Starbucks has emerged as the latest brand to fall foul of Hong Kong’s pro-democracy protesters after a family member of the restaurant chain that owns the local franchise spoke out against demonstrators. Multiple branches were covered with graffiti over the weekend as the city witnessed some of the most intense clashes between hardcore protesters and riot police in weeks. One …

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London repatriates 10% of Thomas Cook’s UK customers

by Roland JACKSON Britain has repatriated ten percent of nationals who were stranded abroad after the collapse of travel firm Thomas Cook, authorities said Tuesday, as anger erupted over excessive management pay. The Civil Aviation Authority regulator, which is managing the UK’s biggest repatriation since World War II after Thomas Cook’s dramatic bankruptcy, said in a statement that it flew …

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SingPost US-based e-commerce units file for bankruptcy following underperformance, failure to secure suitable buyer

Jagged Peak and TradeGlobal, two of Singapore Post Ltd’s US e-commerce units, have filed for bankruptcy protection under Chapter 11 after an unsuccessful six-month process of finding and securing a suitable buyer for both. Reuters reported on Thu (19 Sep) that SingPost on Wed evening said: “Under the supervision of the bankruptcy court, the U.S. subsidiaries intend to pursue the …

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S’pore cannot compel GIC and Temasek to abstain from investing in haze-linked companies?

A Parliamentary question by Workers’ Party (WP)’s Member of Parliament Leon Perera regarding Singapore sovereign wealth funds GIC and Temasek Holdings’ possible investments in haze-linked companies was highlighted by the party’s unofficial support Facebook page One WP, One SG on Wed (18 Sep). Over three years ago, Perera asked Finance Minister Heng Swee Keat if the Government was involved in …

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Investments in Amaravati project “commercially confidential”, but no state funds used: S. Iswaran

While investments made by the Singapore companies involved in the joint project between Singapore and Andhra Pradesh to develop capital city Amaravati in India are “commercially confidential”, Minister-in-charge of trade relations S Iswaran on Tue (3 Sep) said that no state expenditure was involved in the project. Iswaran was responding to supplementary questions from Workers’ Party Non-Constituency Member of Parliament …

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Hong Kong Investment Promotion chief visits Singapore to promote Hong Kong’s long-term business opportunities

On Monday (2 Sep), the Director-General of Investment Promotion of the Hong Kong Special Administrative Region, Mr Stephen Phillips, began his ambassadorial visit to Singapore as part of Invest Hong Kong (InvestHK)’s latest efforts to promote Hong Kong’s business attractions. During the course of his visit, Mr Phillips will be meeting with leaders from various companies that have plans to …

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iPrice study reveals the biggest e-commerce companies in Singapore and SEA in Q2 2019

iPrice Group, together with its partner App Annie Intelligence, recently updated its Map of E-commerce via the latest study to showcase the biggest developments in Singapore’s top e-commerce players based on their average quarterly traffic, mobile application ranking, social media followers, and number of staff. The study was conducted to keep track on the latest developments of the internet economy’s …

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Joint venture with Temasek terminated due to “bad’ market conditions for residential properties: InvestPenang exec director

Business Processing Outsourcing Prime (BPO Prime), the joint venture (JV) between Temasek Holdings and Penang Development Corporation (PDC), was mutually terminated due to grim market conditions. InvestPenang executive director Lee Kah Choon told Malay Mail on Thu (8 Aug) that the decision to terminate the RM1.3 billion JV (S$429 million) was made based on the findings of a survey conducted …

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