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HONG KONG: A year anticipated to be full of headwinds for Hong Kong’s stock exchange turned euphoric instead. The challenge is now to add to the momentum.
SINGAPORE: CapitaLand Ltd, Singapore’s largest developer, posted a record full-year loss after writing down the value of some investment properties and residential projects during the pandemic.
SAN FRANCISCO: Lucid Motors Inc is merging with a blank-cheque company run by financier Michael Klein that values the combined entity at a pro-forma equity value of US$24bil, the biggest in a series of deals involving electric-vehicle (EV) startups cashing in on investor appetite for battery-powered cars.
LUXURY electric vehicle maker Lucid Motors on Monday agreed to go public by merging with blank-check firm Churchill Capital IV Corp in a deal that valued the combined company at a pro-forma equity value of $24 billion.
SAUDI Arabia has raised the stakes in a competition with freewheeling Dubai for foreign talent and cash.
SINGAPORE: Bullish oil prices marked time on Wednesday, as support from supply disruptions in the U.S. south caused by an Arctic blast was offset by expectations that OPEC+ producers may ease their output curbs after April.
NEW YORK: Citigroup Inc said late on Friday that outgoing Chief Executive Officer Mike Corbat's (pic) compensation for 2020 would be $19 million, a 21% decrease from 2019, according to a regulatory filing.