Stories By: Bloomberg (345 Articles Found)

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KKR-backed PropertyGuru weighs U.S. listing via SPAC

PropertyGuru (PG), the Singaporean online real estate firm backed by private-equity firms KKR & Co. and TPG Capital, is considering a US listing through a merger with a special purpose acquisition company, according to people familiar with the…

Singapore minister flags risks of low rates on property market

Singapore’s DPM warned that low-interest rates can lead to distortions in asset prices, amid speculation that the government may take fresh steps to cool the housing market. “The interest rates today are ultra-low, and in some cases even…

No festive bump for Singapore restaurants over Lunar New Year

Singapore restaurant owners face a gloomy Lunar New Year, with Covid-related interruptions signalling that even countries with a good handle on cases will suffer until the pandemic is under control globally. A labor-supply crunch in the F&B sector…

Singapore sees people travelling this year as vaccines roll out

Countries could relax border controls and allow more travel if there’s a set of standards for vaccine certification that immigration authorities can use to help determine entry policies, Singapore Transport Minister Ong Ye Kung said. “That is really…

Singapore property firms face setback as workers stay home

Singapore’s battered property firms are hitting a snag in their recovery after rising coronavirus infections led to an extension of remote work in the city-state. Shares of commercial developers and REITs have fallen since authorities announced last month…

Foreign buying of Singapore private homes hits 17-year low

Foreigners snapping up private apartments in Singapore declined to a 17-year low in 2020 as travel restrictions and lockdowns during the coronavirus pandemic deterred them from coming to the city-state. Purchases of units fell to 742 last year,…

Scion of Singapore’s richest family strives to salvage China deal

Pressure is mounting on an heir to Singapore’s biggest family fortune as he seeks to salvage the troubled property investment at the centre of an ambitious expansion into China. In the past month, Sherman Kwek, the 45-year-old CEO…

JPMorgan’s new Singapore home still trying to find tenants

Three years ago, it was touted as a development that would rejuvenate Singapore’s CBD. But an upcoming building in the city-state could have fallen victim to the pandemic, which has upended the office market as work from home…

Singapore may act to stall rising home prices, analysts say

Singapore may be considering another round of measures to cool residential prices, according to market analysts, who see recent ministerial remarks as a signal for the possible move. Comments made by the city-state’s DPM indicate the government is…

Blackstone buying Lucasfilm Singapore facility for $132 Million

Blackstone Group is looking to purchase Lucasfilm’s building in Singapore for about S$175 million, according to people familiar with the matter. The company has started the process of buying the building known as The Sandcrawler, pending regulatory approval,…

Singapore Changi reinvents itself for return of business travel

Singapore’s Changi Airport, routinely voted the world’s best and a key part of the city-state’s psyche, is reinventing itself for the Covid era and beyond. In a bid to keep people engaged until life returns to normal, it’s…

Singapore’s Changi gets ready with tons of dry ice for vaccines

In balmy Singapore, a tiny island nation that sits almost directly on the equator, it’s usually flowers, meat and seafood that gets whipped away into SATS Ltd’s cool rooms upon landing at Changi Airport. Now one of the…

Singapore Port in advanced talks for Lim family’s terminal stake

Singapore’s state-backed operator Jurong Port is in advanced talks to buy a stake in a petroleum storage hub from the family behind collapsed oil trader Hin Leong Trading according to people with knowledge of the situation. The deal…

Singapore set to have flying electric taxi service by 2023

Singapore is set to host the world’s first electric-powered air taxi service by the end of 2023, according to Volocopter GmbH, which is developing the vertical-takeoff craft. The German manufacturer is committed to starting operations within three years…

Singapore app halves contact-tracing time, top engineer says

A contact-tracing app in Singapore that’s a key part of the government’s response to the coronavirus pandemic has helped to reduce the time taken to isolate contacts of a patient from four days to less than two, according…

Singapore becomes first country to approve sales of lab-created meat

Eat Just Inc, a maker of meat and egg substitutes, has been approved to sell its laboratory-created chicken in Singapore, which becomes the first government to allow the sale of cultured meat. The product, created from animal cells…

Hong Kong, Singapore office REITs live on in post-virus world

The office may never reach its past heights in the post-pandemic world but the outlook for Singapore and Hong Kong offices is promising. Relatively small homes in those cities, short commutes to work and new tech firm tenants…

Mizuho to cut Singapore office space on work-from-home success

Mizuho Financial Group is set to trim its Singapore office space, as the Japanese bank looks to revamp the workplace in global financial centres in the wake of the pandemic. Japan’s third-largest lender is looking to cut about…

Singapore re-opening plan ditches quarantine for tests, ratios

Singapore is using a plan involving ratios and testing to open its borders to as many intl visitors as possible based on their home country of risk, MTI Minister Chan Chun Sing said. The government looks at a…

Tencent chooses co-working space for first Singapore office

Tencent Holdings has chosen a co-working space for its first office in Singapore, joining other Chinese tech giants in using the city-state for a launching pad into the rest of Asia. The WeChat owner will have almost 200…

Bytedance moving to bigger Singapore office amid expansion plan

ByteDance, the Chinese owner of video app TikTok, is moving to a bigger office in Singapore’s financial district, paving the way for it to make the city-state its beachhead for the rest of Asia. It has signed an…

Amazon to take office space from Citigroup in Singapore

Amazon is planning to take over some of Citigroup’s office space in Singapore at a time when a number of the e-commerce giant’s Chinese tech rivals expand in the city state. The online retail giant will lease three…

Tesla posts new job ads signaling entry to Singapore

Tesla posted fresh job ads for roles based in Singapore, signaling Elon Musk’s EV maker is preparing to set up shop in the wealthy city-state it has so far skirted. The car manufacturer is looking for senior developers…

Tencent picks Singapore as Asia hub after India, US bans

Tencent Holdings has picked Singapore as its beachhead for Asia, joining rivals Alibaba Group Holding and ByteDance in the race to build up their presence closer to home after setbacks in US and India. Mgmt at China’s largest…

Singapore’s poorest stay in lockdown as others move freely

With restaurants and malls bustling, pre-pandemic life is slowly returning for people in Singapore – except for the more than 300,000 migrant workers who make up much of the city’s low-wage workforce. Since Apr, these workers have been…

Singapore’s coveted expat jobs threatened by local hire push

Singapore has long been the city of choice for Western expats wanting an easy entrée into Asia. Clean, efficient, with low tax rates, it’s often seen as rivalling Hong Kong, especially with that city hit by street protests.…

How Singapore nurtured foreign trio who became billionaires

David Chen left his native China as a teenager to attend school in Singapore. Little did he know that his adopted city would help him reach the ranks of the ultra-rich. The co-founder of Sea Ltd is now…

Singapore looks to widen range of visitors as tourism wanes

Singapore is seeking to open the door to a wider range of business and leisure visitors to boost its hard-hit tourism sector, with the return of mass travel still a long way off amid the pandemic, according to…

China wealth manager Hywin plans foray into Singapore

Hywin Wealth Mgmt Co is weighing an expansion into Singapore to follow its Chinese clients and tap the surge of wealthy individuals in SEA. The Shanghai-based company is seeking licenses to provide wealth mgmt, asset mgmt, succession advisory,…

Decline of Singapore’s famed shopping strip shows city’s pain

A walk down Orchard Road shows just how badly the coronavirus pandemic has hit Singapore’s famed shopping strip. Gone are popular restaurants like Modesto’s, which shut last month after 23 years. Also missing are the queues of Chinese…

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