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

OxPay says $77k paid for wrongful dismissal not declared as amount ‘not material’

SINGAPORE – Payment services company OxPay Financial said it did not announce a tribunal’s order for the company to pay its former chief executive and chief financial officer $77,000 for wrongful dismissal as the claim amount was “not material” to the group. The Catalist-listed company was responding to queries by the Singapore Exchange Regulation, which had asked why […]

New biodiversity commitments announced at UNGA sidelines

This undated handout picture released by the Universiti Malaysia Sarawak's Institute of Biodiversity and Environmental Conservation (IBEC) on August 26, 2010 shows the frog Microhyla nepenthicola, Asia's smallest frog, sitting on the tip of a pencil in Kuching, Sarawak state. (INDRANEIL DAS / IBEC / AFP) NEW YORK – New commitments aimed at catalyzing biodiversity […]

Nasdaq increases scrutiny of small-cap IPOs after wild swings

NEW YORK – Nasdaq is stepping up scrutiny of initial public offerings (IPOs) by small-cap companies, according to people familiar with the matter, after a series of outsized gains by new listings that quickly evaporated. The exchange is looking more closely at prospective small-cap issuers across industries and countries, said the people, who asked not […]

GIC buys majority stake in Mediterranean luxury resorts group as travel recovers

BENGALURU – Singapore sovereign wealth fund GIC, one of the world’s biggest investors, has bought a majority stake in Sani/Ikos Group (SIG) in a deal that values the Mediterranean luxury resorts operator at 2.3 billion euros (S$3.2 billion), both companies said in a joint statement on Thursday (Sept 22). The deal comes as travel recovers […]

Building digital HQs: 3 big ideas from tech giant Salesforce’s Dreamforce conference

SAN FRANCISCO – The disruptions brought about by the Covid-19 pandemic have highlighted how vital it is for companies to develop a digital headquarters so that staff can work together better online. These virtual centres would include systems that support spontaneous interactions and easy sharing of information, although in-person collaboration would remain an important part […]

Asia stocks slump on global slowdown fears after Fed signals more rate hikes ahead

SINGAPORE – Asian stock markets slumped on Thursday amid heightened global slowdown fears after the US Federal Reserve signalled even more aggressive rate hikes ahead than investors had expected as it raised its key interest rate by a hefty 75 basis points for a third straight time. Notably, Fed chairman Jerome Powell in comments on Wednesday […]