Business

Hanoi to build high-speed railway to Ho Chi Minh City

HANOI: Tran Thi Minh Ha Vietnam says that it will build a US$67bil high-speed railway from Hanoi to Ho Chi Minh City, in a much-needed boost to infrastructure that is expected to drive growth and enhance its reputation among foreign investors.

Aviation

SIA CEO positive airline can navigate challenges

SINGAPORE: The year 2024 is coming to a close, and for Singapore Airlines (SIA), it has been a year of flying high before encountering turbulence.

Corporate News

Uniqlo Vietnam hits 60% local production in five-year milestone

HANOI: Uniqlo has reached an impressive milestone, with over 60% of products sold at stores in Vietnam now being ‘made in Vietnam’.

Corporate News

Vietnam wood product exporters to leverage trade deal with UK

HO CHI MINH CTY: The United Kingdom–Vietnam Free Trade Agreement is one of the key drivers behind the growth of Vietnam’s timber and wood product exports to the UK, industry experts say.

Economy

Japanese firms boost capital expenditure as confidence holds up

TOKYO: Japanese companies increased investments in the three months through September, pointing to stronger-than-expected resilience in corporate confidence and supporting views that the Bank of Japan (BoJ) may raise rates sooner rather than later.

Economy

Private factory gauge grows amid stabilisation

SHANGHAI: China’s manufacturing activity expanded for a second straight month, according to a private survey, a further sign of stabilisation after Beijing unleashed a stimulus package to shore up the economy.

Auto

Ford to make EV investment in Indonesia

JAKARTA: Ford Motor Co is expected to build an electric vehicle (EV) manufacturing plant in Indonesia next year, says an Industry Ministry official.

Markets

Stars aligned for bonds to extend rally

MUMBAI: Indian bonds are set for their best year in four and investors expect more gains on a combination of policy drivers and resilient domestic demand.

Auto

Stellantis CEO Carlos Tavares abruptly quits

DETROIT: Stellantis chief executive Carlos Tavares resigned abruptly last Sunday, two months after a profit warning at the maker of Jeep, Fiat and Peugeot cars that has lost around 40% of its value this year.

Economy

Job ads tumble 1.3% Down Under

SYDNEY: Australian job advertisements fell in November after two months of gains, data shows, in a sign that demand for labour is slowly easing in the face of high interest rates.

Cryptocurrency

Takeover of bitcoin creates new list of risks

NEW YORK: Bitcoin exchange-traded funds (ETFs) have been such a smashing success in the United States that they now hold more than one million of the tokens, or about 5% of what currently exists.

Corporate News

Australia’s Northern Star splashes US$3.3bil in gold buy

MELBOURNE: According to Australian gold miner Northern Star Resources, it will buy De Grey Mining in an all-share deal valuing the smaller miner at A$5bil (US$3.3bil) as high gold prices spur consolidation in the sector.

Investment

JPMorgan rejects transition finance trend

NEW YORK: JPMorgan Chase & Co is turning its back on a trend that’s been embraced by many of its Wall Street peers.

Corporate News

BlackRock nears deal to buy private credit firm

LONDON: BlackRock Inc is nearing a deal to buy HPS Investment Partners, a purchase that would vault the firm into the top ranks of private credit as it seeks to become a major force in alternative assets.

Property

Australian home prices rise at weakest pace in almost two years

SYDNEY: Australian home prices rose at their weakest pace in nearly two years, led by falling prices in the key markets of Sydney and Melbourne as mounting affordability concerns sour buyer demand.

Corporate News

Bangladesh wants to renegotiate power deal with Adani

DHAKA: Bangladesh wants to sharply lower prices under a power-purchase deal with India’s embattled Adani Group unless it is cancelled by a court, which has called for an investigation into the 25-year deal, its de facto energy minister says.

Forex

Global South should unite in response to Trump's tariff threats on BRICS - Jomo

KUALA LUMPUR: The Global South should unite, even in small ways to pursue shared goals, particularly because US President-elect Donald Trump has threatened tariff specifics for BRICS nations.

Corporate News

PNB commits RM4mil for flood relief aid, supporting affected communities

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) has contributed RM4 million through partnerships with several delivery partners to carry out essential relief efforts to areas that are affected by flood.

Corporate News

Datasonic bags RM81.38mil contract extensions from Home Ministry

KUALA LUMPUR: Datasonic Group Bhd has secured two letters of extension (LOEs) from the Home Ministry, valued at RM81.38 million.

Corporate News

CLMT acquires first modern automated logistics property for RM180mil

KUALA LUMPUR: CapitaLand Malaysia Trust (CLMT) is acquiring a freehold automated logistics property in Elmina Business Park, Selangor, from PTT Logistics Hub 1 Sdn Bhd, for RM180mil.