bloomberg.com Archives - 18 January 2017, Wednesday

  • Ex-Deutsche Bank Forex Trader Faces Jail for Defrauding Lender

    bloomberg.com 18 Jan '17, 4am

    A former Deutsche Bank AG foreign-exchange trader faces a possible prison sentence after a Singapore court convicted him of defrauding the company by making false trades. Toh Hway Khuan, 51, pleaded guilty on Wednesday to 13 charges relating to using the bank’s account to get preferen...

  • Ex-Deutsche Bank Forex Trader Faces Jail for Defrauding Firm

    bloomberg.com 18 Jan '17, 3am

    A former Deutsche Bank AG foreign-exchange trader faces a possible prison sentence after a Singapore court convicted him of defrauding the company by making false trades. Toh Hway Khuan, 51, pleaded guilty on Wednesday to 13 charges relating to using the bank’s account to get preferen...

  • Singapore’s Export Growth Beats Forecasts for Second Month -

    bloomberg.com 17 Jan '17, 1am

    Singapore’s exports surged above economists’ forecasts for a second consecutive month, signaling a recovery in the trade-dependent economy. Key Points Non-oil domestic exports rose 9.4 percent in December from a year ago, International Enterprise Singapore said in a report. The median...

  • Singapore’s Export Growth Beats Forecasts for Second Month -

    bloomberg.com 17 Jan '17, 1am

    Singapore’s exports surged above economists’ forecasts for a second consecutive month, signaling a recovery in the trade-dependent economy. Key Points Non-oil domestic exports rose 9.4 percent in December from a year ago, International Enterprise Singapore said in a report. The median...

  • High-Speed Traders Are Taking Over Bitcoin

    bloomberg.com 16 Jan '17, 5pm

    The cryptocurrency’s market structure ticks all the right boxes: arbitrage opportunities across multiple exchanges, zero transaction costs on Chinese venues that host most of the world’s turnover, round-the-clock trading, and co-location services allowing participants to place their s...

  • Singapore's Rare Buyout Bird - Bloomberg Gadfly

    bloomberg.com 16 Jan '17, 10am

    A private equity firm could reap huge gains from selling parts of Global Logistic or partnering with one of its big Chinese tech customers like Alibaba Group Holding Ltd. or JD.com Inc. and eventually having them take assets off its hands. Before deal chatter surfaced in November, Glo...

  • Singapore’s MAS Warns of ‘Disastrous’ Effect of Trade Conflicts - Bloomberg

    bloomberg.com 16 Jan '17, 9am

    Singapore’s MAS Warns of ‘Disastrous’ Effect of Trade Conflicts by David Roman @dromanber More stories by David Roman January 16, 2017, 12:11 AM EST Menon says U.S. anti-trade moves may prompt retaliatory action U.S. trade policy under Trump still uncertain, MAS MD says The global eco...

  • Singapore’s MAS Warns of ‘Disastrous’ Effect of Trade Conflicts - Bloomberg

    bloomberg.com 16 Jan '17, 6am

    The global economy will face “disastrous consequences” if U.S. protectionist measures proposed by incoming President Donald Trump prompt trade wars, the head of Singapore’s central bank said. Some of the possible actions -- such as rejecting a U.S.-Pacific trade deal, extra taxes on U...

  • Singapore Home Sales Top 8,000 Units in 2016, Beating 2015 Tally

    bloomberg.com 16 Jan '17, 6am

    Singapore house sales last year topped 2015’s tally as a third straight year of price declines stoked pent-up demand from homebuyers. Developers sold 367 units last month, taking the yearly total to 8,136, compared to the 7,440 sold in 2015, according to data released Monday by the Ur...

  • Singapore’s MAS Warns of ‘Disastrous’ Effect of Trade Conflicts - Bloomberg

    bloomberg.com 16 Jan '17, 5am

    Singapore’s MAS Warns of ‘Disastrous’ Effect of Trade Conflicts by David Roman @dromanber More stories by David Roman January 16, 2017, 12:11 AM EST Menon says U.S. anti-trade moves may prompt retaliatory action U.S. trade policy under Trump still uncertain, MAS MD says The global eco...

  • Singapore's Rare Buyout Bird - Bloomberg Gadfly

    bloomberg.com 15 Jan '17, 11pm

    A private equity firm could reap huge gains from selling parts of Global Logistic or partnering with one of its big Chinese tech customers like Alibaba Group Holding Ltd. or JD.com Inc. and eventually having them take assets off its hands. Before deal chatter surfaced in November, Glo...

  • Singapore Warehouse Operator Shaping Up to Be Asia's Biggest Buyout Deal

    bloomberg.com 13 Jan '17, 3am

    A warehouse operator in Singapore is shaping up to be Asia’s biggest buyout deal. Three private equity groups are working on bids for Global Logistic Properties Ltd. by an early February deadline, according to people familiar with the matter. Blackstone Group LP is considering going h...

  • Malaysian Restaurant Chain PappaRich Mulls Singapore IPO

    bloomberg.com 13 Jan '17, 1am

    PappaRich Malaysia Sdn., a food chain selling local cuisine from nasi lemak to curry laksa noodles, is considering a Singapore initial public offering to fund expansion, people with knowledge of the matter said. The company, which opened its first restaurant in Malaysia in 2006, is ta...

  • Singapore Warehouse Operator Shaping Up to Be Asia's Biggest Buyout Deal

    bloomberg.com 12 Jan '17, 11pm

    A warehouse operator in Singapore is shaping up to be Asia’s biggest buyout deal. Three private equity groups are working on bids for Global Logistic Properties Ltd. by an early February deadline, according to people familiar with the matter. Blackstone Group LP is considering going h...

  • Malaysian Restaurant Chain PappaRich Mulls Singapore IPO

    bloomberg.com 12 Jan '17, 8am

    PappaRich Malaysia Sdn., a food chain selling local cuisine from nasi lemak to curry laksa noodles, is considering a Singapore initial public offering, people with knowledge of the matter said. The company, which opened its first restaurant in Malaysia in 2006, is targeting to achieve...

  • Malaysian Restaurant Chain PappaRich Mulls Singapore IPO

    bloomberg.com 12 Jan '17, 8am

    PappaRich Malaysia Sdn., a food chain selling local cuisine from nasi lemak to curry laksa noodles, is considering a Singapore initial public offering, people with knowledge of the matter said. The company, which opened its first restaurant in Malaysia in 2006, is targeting to achieve...

  • Blackstone Said to Vie With Warburg, Chinese Group for GLP

    bloomberg.com 12 Jan '17, 5am

    Chinese retailer Suning Holdings Group Co. has held exploratory talks about the possibility of joining one of the bidder groups pursuing GLP, the people said. Bidder groups see the support of existing GLP management, led by Chief Executive Officer Ming Mei, as key to the success of th...

  • Warburg Pincus Forming Consortium to Bid for GLP

    bloomberg.com 11 Jan '17, 12pm

    Warburg Pincus has been speaking with banks and potential bidding partners about an offer for the industrial property owner, which has a market value of about $8.5 billion, the people said. GLP, which has assets in China, Japan, the U.S. and Brazil, has asked for first-round offers by...

  • Swiss Banker Latest Conviction in Singapore’s 1MDB-Linked Cases -

    bloomberg.com 11 Jan '17, 9am

    Jens Sturzenegger, a former branch manager at Falcon Private Bank Ltd. in Singapore, became the first foreigner convicted in the city’s probes linked to a Malaysian state investment fund. Sturzenegger, 42, pleaded guilty to six charges, including failing to report suspicious transacti...

  • Swiss Banker Latest Conviction in Singapore’s 1MDB-Linked Cases -

    bloomberg.com 11 Jan '17, 9am

    Jens Sturzenegger, a former branch manager at Falcon Private Bank Ltd. in Singapore, became the first foreigner convicted in the city’s probes linked to a Malaysian state investment fund. Sturzenegger, 42, pleaded guilty to six charges, including failing to report suspicious transacti...

  • Singapore’s Garena Picks Goldman for $1 Billion IPO -

    bloomberg.com 11 Jan '17, 8am

    Garena, Southeast Asia’s most valuable startup, picked Goldman Sachs Group Inc. to lead a planned initial public offering that could fetch about $1 billion, according to people with knowledge of the matter. The Singapore-based online gaming portal and e-commerce provider plans to sele...

  • Singapore’s Garena Picks Goldman for $1 Billion IPO -

    bloomberg.com 11 Jan '17, 8am

    Garena, Southeast Asia’s most valuable startup, picked Goldman Sachs Group Inc. to lead a planned initial public offering that could fetch about $1 billion, according to people with knowledge of the matter. The Singapore-based online gaming portal and e-commerce provider plans to sele...

  • Can Emirates Airline Dominate the Skies?

    Is Emirates Airline Running Out of Sky?

    bloomberg.com 09 Jan '17, 6pm

    Since 1985, Emirates has grown from a two-plane operation at a desert airstrip into a force whose every movement rumbles through global aviation. The airline’s growth is inseparable from that of Dubai, with both straining the laws of financial and physical gravity. The company’s chair...

  • Modi to Open 16-Storey Exchange to Rival Singapore and Hong Kong

    bloomberg.com 09 Jan '17, 1pm

    The India International Exchange, at the bottom of a 16-storey building that dominates the finance zone, will get Modi’s blessing on Monday and start trading single stock and equity index futures on Jan. 16. It will add gold, silver, copper, oil and the rupee “soon,” Bombay Stock Exch...

  • Modi to Open 16-Storey Exchange to Rival Singapore and Hong Kong

    bloomberg.com 09 Jan '17, 10am

    The India International Exchange, at the bottom of a 16-storey building that dominates the finance zone, will get Modi’s blessing on Monday and start trading single stock and equity index futures on Jan. 16. It will add gold, silver, copper, oil and the rupee “soon,” Bombay Stock Exch...

  • Singapore Demands Hong Kong Return Seized Military Vehicles

    bloomberg.com 09 Jan '17, 9am

    Singapore Defence Minister Ng En Hen called on Hong Kong to return nine armored personnel carriers seized by customs officials late last year, saying the equipment was sovereign property and could not legally be held. Ng told parliament that Singapore had shipped troop carriers commer...

  • Singapore Calls on Hong Kong to Return Seized Military Vehicles

    bloomberg.com 09 Jan '17, 7am

    Singapore Defence Minister Ng En Hen called on Hong Kong to return nine armored personnel carriers seized by customs officials late last year, saying the equipment was sovereign property and could not legally be held. Ng told parliament that Singapore had shipped troop carriers commer...

  • Bitcoin Extends Loss After China’s Central Bank Warns Investors -

    bloomberg.com 09 Jan '17, 5am

    The cryptocurrency slid 1.2 percent to $887.34 at 12:28 p.m. in Hong Kong, after falling as much as 10 percent on Friday. The People’s Bank of China’s Shanghai branch said in a statement late Friday that its officials, along with the city’s financial office, asked bitcoin trading plat...

  • No Free Ride for Bitcoin in China - Bloomberg Gadfly

    bloomberg.com 09 Jan '17, 5am

    The cryptocurrency has plunged more than 18 percent since Jan. 4, as news began to leak that it had attracted the attention of regulators in China. The Shanghai branch of the People's Bank of China and the city's financial office met with bitcoin exchange executives and admonished the...

  • Bitcoin Extends Loss After China’s Central Bank Warns Investors -

    bloomberg.com 09 Jan '17, 5am

    The cryptocurrency slid 0.5 percent to $893 at 4:27 p.m. in Hong Kong, after falling as much as 10 percent on Friday. The People’s Bank of China’s Shanghai branch said in a statement late Friday that its officials, along with the city’s financial office, asked bitcoin trading platform...