Press releases about business, cryptocurrency, fintech and more news in Hong Kong and Asia

Australia’s Telstra reveals data breach two weeks after attack on Optus

SYDNEY – Australia’s largest telecoms firm Telstra said on Tuesday it had suffered what it called a small data breach, a disclosure that comes two weeks after main rival Optus was left reeling by a massive cyber attack. Telstra, which has 18.8 million customer accounts, equivalent to three-quarters of Australia’s population, said an intrusion of a […]

Alfa Romeo showroom shut, staff laid off as S’pore distributorship set to change hands

SINGAPORE – EuroAutomobile will cease to be the official importer and distributor of Alfa Romeo cars in Singapore, while Komoco Holdings is set to take over the exclusive distributorship next year, The Straits Times has learnt. On Sept 30, the firm, which has held the distributorship since 2004, shut down its Alfa Romeo showroom at Leng […]

S’pore should consider standby diesel fuel facility to boost energy security: Industry experts

SINGAPORE – Singapore should consider setting up a strategic reserve facility for diesel, an important alternative fuel for power generation, industry sources said. Power security has emerged as a key issue in the wake of the Ukraine conflict, and has once again turned the spotlight on energy security here in Singapore, which depends on imported […]

Australia’s central bank slows pace of rate hikes in surprise move

SYDNEY – Australia’s central bank on Tuesday surprised markets by lifting interest rates by a smaller-than-expected 25 basis points, saying they had already risen substantially, though it added that further tightening would still be needed. Wrapping up its October policy meeting, the Reserve Bank of Australia (RBA) raised its cash rate to a nine-year peak […]

Metro expands in UK, Australia with $204.7m worth of acquisitions

SINGAPORE – Metro Holdings announced on Monday (Oct 3) the acquisition of a retail property in Australia and four student accommodations in the United Kingdom to deepen its presence across its key markets. The Australian property is a freehold neighbourhood retail centre called Shepparton Marketplace in Victoria, and it was bought by Metro Holdings with its […]

Crypto needs more rules and better enforcement, US regulators warn

NEW YORK – A US federal panel responsible for monitoring financial system risks sounded a warning on Monday about cryptocurrency markets, saying that the widespread adoption of digital assets poses risks if the market continues to grow without better oversight and enforcement. It is the first major report on cryptocurrencies by the Financial Stability Oversight Council, […]

French justice minister faces trial over conflict of interest

French Justice Minister Eric Dupond-Moretti arrives at the Elysee Palace for the first cabinet meeting since French President Emmanuel Macron's reelection, May 23, 2022 in Paris. (MICHEL SPINGLER / AP) PARIS – France's justice minister will stand trial before a special judicial body for suspected conflict of interest in two cases, a court spokeswoman said […]

National Archives: Trump staffers not returning White House records

A letter from acting archivist of the United States Debra Steidel Wall to former President Donald Trump's legal team is photographed on Aug 23, 2022. (JON ELSWICK / AP) WASHINGTON – Former President Donald Trump's administration has not turned over all presidential records and the National Archives will consult with the Justice Department on whether […]

Building resilience: How nurturing local talent and tapping tech go hand in hand

Persistent inflation, a slowing global economy and geopolitical tensions – these are some of the ongoing challenges that Singapore faces, said Trade and Industry Minister Gan Kim Yong at the Ministry of Trade and Industry (MTI) Economic Dialogue last month. How can businesses in Singapore stay resilient amid such economic headwinds? The answer could be found […]

Rich kids’ boot camps return as private banks woo next-gen clients

SINGAPORE – For years, Covid-19 froze one of private banking’s best tools for keeping customers loyal – invite-only events for the children of wealthy clients. Now, as global borders finally reopen, they are starting to return. In the bowels of Singapore’s Ritz-Carlton hotel, 12 young people in grey hoodies sipping bubble tea could be mistaken for a university […]