Indonesia assigns US$1 billion to Brics-led New Development Bank

Indonesia assigns US billion to Brics-led New Development Bank

[ad_1] [JAKARTA] Indonesia will assign US$1 billion to the Brics-led New Development Bank, further boosting ties with the group of developing nations. The country expects its contribution to help fund sustainable development projects, Coordinating Economic Ministry spokesperson Haryo Limanseto said in Jakarta on Tuesday (Dec 2). South-east Asia’s largest economy formally joined the bloc earlier…

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Asian markets rise as US rate cut bets temper Japan bond unease

Asian markets rise as US rate cut bets temper Japan bond unease

[ad_1] [HONG KONG] Stocks rose on Tuesday (Dec 2) following the previous day’s stutter as more weak US data helped solidify US interest rate cut optimism and tempered nervousness over rising Japanese bond yields. Expectations the US Federal Reserve will lower borrowing costs has provided a boon to markets in the past few weeks and…

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Exclusive | New York socialite snags South Florida mansion for $21 million

Exclusive | New York socialite snags South Florida mansion for  million

[ad_1] New York socialite and author Jean Shafiroff and her husband, investment adviser Martin Shafiroff, have bought a stunning, modern, waterfront gated home in Manalapan, Fla. — the exclusive billionaires’ enclave between Delray and Palm Beach — for around $21 million in an off-market sale, Gimme Shelter can reveal. Inside the Manalapan mansion. Courtesy of…

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Intel to invest additional RM860 million in Malaysia, PM says

Intel to invest additional RM860 million in Malaysia, PM says

[ad_1] [KUALA LUMPUR] Malaysian Prime Minister Anwar Ibrahim said US chipmaker Intel has announced an additional investment of RM860 million (S$208 million) in the country for assembly and testing operations. Anwar said in a social media post on Monday that the announcement followed a meeting between himself and Intel CEO Tan Lip-Bu. In 2021, Intel…

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Genting’s New York casino licence buffers risks in Malaysia

Genting’s New York casino licence buffers risks in Malaysia

[ad_1] The licence comes as the company’s Malaysia casino faces constraints amid local political headwinds [KUALA LUMPUR] Genting Group won a coveted New York City casino licence that will allow the Malaysian conglomerate to transform its Queens slot machines-only facility into a Las Vegas-style US$5.5 billion casino resort. Genting, along with New York Mets owner…

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Samsung debuts its first trifold months ahead of folding iPhone

Samsung debuts its first trifold months ahead of folding iPhone

[ad_1] The company has outfitted the TriFold with its suite of Galaxy AI software features [NEW YORK] Samsung Electronics unveiled its first so-called trifold smartphone, flaunting its engineering prowess in foldable devices even as the broader category has yet to catch on with mainstream consumers. The handset, called the Galaxy Z TriFold, is part of…

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Marco Polo Marine shares rise 7.5% on H2 profit surge

Marco Polo Marine shares rise 7.5% on H2 profit surge

[ad_1] For the full year, net profit surges 169.7% to S$58.5 million, from S$21.7 million the year before [SINGAPORE] Shares of Marco Polo Marine climbed 7.5 per cent or S$0.009 to S$0.129 after the market opened at 9.22 am on Tuesday (Dec 2). On Saturday, the integrated marine logistics company posted a 348 per cent…

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Danantara’s US$1.4 billion Garuda play emerges as key reform test

Danantara’s US.4 billion Garuda play emerges as key reform test

[ad_1] The 76-year-old airline is a major employer and a key mode of transport for the country [JAKARTA] Indonesian sovereign wealth fund Danantara’s growing momentum in state-firm restructuring is putting fresh focus on its US$1.4 billion bet on Garuda Indonesia, a key test of its ability to revive other troubled companies. The distressed carrier’s full-year…

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