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Business 15 Feb 2017 | 12:00 AM

Noble Group confirms strategic stake talks

LONDON: Noble Group Ltd surged the most in over a year after it said it’s in discussions with a strategic investor, which people familiar with the talks identified as China’s Sinochem Group.

Business 14 Feb 2017 | 12:00 AM

Metal traders credit squeeze triggered

MELBOURNE: Some global banks briefly froze credit lines for Singapore metal traders last month after a unit of commodities giant Glencore uncovered fake warehousing receipts, people familiar with the matter said, reviving the spectre of a US$3bil scandal that rocked the trading world three years ago

Commodities 13 Feb 2017 | 11:37 PM

Fake receipts at Glencore warehouse unit triggered sector credit freeze

MELBOURNE: Some global banks briefly froze credit lines for Singapore metal traders last month after a unit of commodities giant Glencore uncovered fake warehousing receipts, people familiar with the matter said, reviving the spectre of a $3 billion (2 billion pound) scandal that rocked the trading world three years ago

Corporate News 07 Feb 2017 | 10:47 PM

Judge defers ruling on dismissal of billionaire Cooperman insider trading case

PHILADELPHIA: A U.S. judge on Tuesday held off ruling on whether to throw out a government complaint against billionaire investor Leon Cooperman and his firm, Omega Advisors Inc, after the defendant's attorneys requested a dismissal, in a case that could set a legal precedent on insider trading.

Business 19 Jan 2017 | 12:00 AM

GIC hits snag in Vietnam deal

SINGAPORE: Singapore sovereign fund GIC Pte has hit a snag as it seeks government approval for its planned investment in Bank for Foreign Trade of Vietnam JSC, the nation’s biggest lender by market value, people with knowledge of the matter said.

Business 18 Jan 2017 | 12:00 AM

Singapore wealth fund hits snag on Vietnam deal approval

SINGAPORE: Singapore sovereign fund GIC Pte has hit a snag as it seeks government approval for its planned investment in Bank for Foreign Trade of Vietnam JSC, the nation’s biggest lender by market value, people with knowledge of the matter said.

Corporate News 05 Jan 2017 | 12:00 AM

Hanjin shares surge on report asset sale to close next week

SINGAPORE: Hanjin Shipping Co shares surged by their daily limit of 30% in Seoul after a local media report that the sale of the collapsed container mover’s US-Asia assets to a unit of South Korea’s SM Group is approaching its completion.

Corporate News 03 Nov 2016 | 7:05 AM

XOX to issue 250m new shares to Macquarie Bank to finance Voopee expansion

KUALA LUMPUR: Mobile telecommunications products and services provider, XOX Bhd has proposed to issue 250 million new shares to Macquarie Bank Ltd to finance its expansion of its Voopee mobile application.

Business 02 Nov 2016 | 12:00 AM

Former banker makes US$5mil ‘secret profits’ from 1MDB dealings

SINGAPORE: On the second day of the first 1Malaysia Development Bhd (1MDB)-related trial, revelations emerged about the lengths to which ex-BSI banker Yeo Jiawei and his former supervisor Kevin Swampillai went to hide their “secret profits” as investigations by the Singapore authorities intensified.

Business 29 Sep 2016 | 12:00 AM

Uber to move freight

SAN FRANCISCO: With its recent acquisition of self-driving truck startup Otto, Uber Technologies Inc is plotting its entry into the long-haul trucking business, aiming to establish itself as a freight hauler and a technology partner for the industry.