Posts by Shopie More
J&J to buy Halda Therapeutics in US$3.05 billion cash deal
[NEW YORK] Johnson & Johnson has agreed to buy the cancer treatment biotech Halda Therapeutics for US$3.05 billion cash, part of a strategy to cope with eroding sales for its major psoriasis drug. Halda is testing a therapy for prostate cancer. The biotech is also testing drugs for breast, lung and multiple other tumour types,…
Read MoreAirAsia X plans new long-haul European routes
[ISTANBUL] Malaysian low-cost carrier AirAsia X, which recently launched flights to Istanbul, is planning to establish more long-haul routes to Europe sometime next year, its CEO Benyamin Ismail told Reuters on Monday (Nov 17). AirAsia X began flying direct to Istanbul from Kuala Lumpur on November 14. The route marked a return to Europe for…
Read MoreSIA Group passenger traffic up 5.3% in October
[SINGAPORE] Passenger traffic for Singapore Airlines (SIA) and Scoot rose 5.3 per cent year on year in October. The increase in the two airlines’ traffic outpaced a 3.7 per cent rise in passenger capacity, SIA Group said in its latest operating update, released on Monday (Nov 17). Revenue passenger kilometres, which measure the demand for…
Read MoreChandra Asri gets US$750 million from KKR to buy ExxonMobil’s Singapore petrol stations
[BENGALURU] Indonesia’s Chandra Asri Pacific said on Monday (Nov 17) that it has secured a bespoke US$750 million financing package from investment firm KKR to support its purchase of ExxonMobil’s Esso-branded retail petrol station network in Singapore. In late October, the Indonesian conglomerate said that it planned to retain the Esso branding, continue sourcing fuel…
Read MoreGold firms as investors focus on US data for more Fed cues
Traders are currently pricing in a 46% probability of a quarter-point Fed rate cut next month, down from 50% last week [BENGALURU] Gold prices inched higher on Monday (Nov 17) as investors waited for a series of US economic data this week that could shed more light on the Federal Reserve’s interest rate path. Spot…
Read MoreDel Monte Pacific Q2 net profit jumps seven times to US$16.8 million
[SINGAPORE] Mainboard-listed Del Monte Pacific said on Monday (Nov 17) that its net profit for its second quarter of FY2026 rose to US$16.8 million from US$2.3 million in the year-ago period. This marked an increase of around 630.4 per cent. The improvements reflected strong operational efficiency and market demand, the canned food brand said in…
Read MoreAirbus says Middle East regional aircraft to more than double by 2044
[DUBAI] Airbus expects the Middle East’s regional aircraft fleet to more than double to 3,700 planes by 2044, an official said on Sunday (Nov 16). The European planemaker expects passenger traffic in the Middle East to grow at a compound annual rate of 4.4 per cent over the next two decades, Airbus Head of Marketing…
Read MoreBoeing says partnership for T-7 trainer export bid imminent
[DUBAI] Boeing is close to announcing a partnership to bid for an international sales opportunity for its T-7 trainer, company executives said on Sunday (Nov 16), highlighting fast-growing demand for lightweight military training jets. Reuters reported in July that Boeing and Sweden’s Saab were in talks with Britain’s BAE Systems on teaming up on a…
Read MoreLuxury houses eye India, but barriers remain
The country, with 1.4 billion people, offers “a promising market, but still a complicated one” [MUMBAI] The globe’s biggest luxury brands have dreamt of India’s vast consumer base for decades, but navigating the market has proven to be a complex task. French retailer Galeries Lafayette is the latest to try its luck, opening its first…
Read MoreSamsung plans US$310 billion investment to power AI expansion
Five-year investment package includes plans to build a new semiconductor facility designed to meet the needs of memory-chip demands [SEOUL] South Korean conglomerate Samsung unveiled on Sunday (Nov 16) a plan to invest US$310 billion over the next five years mostly in technology powering artificial intelligence (AI), aiming to meet growing demand driven by a…
Read MoreKorean conglomerates pledge US$464 billion of domestic investment
A trade deal with the US sparked concerns over low domestic investment and the nation’s currency [SEOUL] Samsung Electronics, Hyundai Motor Group and LG Group pledged to invest a combined US$464 billion in South Korea over the next five years after meeting with President Lee Jae Myung, who is seeking to shore up the economy…
Read MoreBitcoin is on the verge of erasing year’s gain as rout deepens
[NEW YORK] Bitcoin fell below US$95,000 for the first time in about six months as a bout of risk aversion sweeping across markets saw investors pull nearly US$900 million from funds investing in the token. The largest digital-asset is on the verge of wiping out its gains for the year, dropping as much as 4.7…
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