Taiwan-based United Microelectronics Corp. (UMC) inaugurated a new 22-nanometre semiconductor fabrication facility in Singapore on 1 April, aiming to address rising global chip demand and enhance supply chain resilience. The new fab, which is located adjacent to UMC’s existing plant in Pasir Ris Wafer Fab Park, has commenced pilot production, with full mass production scheduled […]
Bank stocks tanked across the globe on Friday as fears of a recession swept through markets after U.S. President Donald Trump announced the highest tariff walls in a century. The S&P 500 banks index which tracks U.S. lenders, fell more than 7%, extending declines after plunging on Thursday. Citigroup and Bank of America were the […]
Meta Platforms Inc. plans to spend nearly $1 billion on the development of a data center project in central Wisconsin, underscoring a larger effort from the social media giant to ramp up investments in AI and cloud infrastructure. In February, the state of Wisconsin struck an incentive deal with an unnamed company using an alias […]
The Morgan Stanley-managed fund is due to close in June and expected to raise at least $684mln based on current investor commitments, according to the people, both of whom declined to be identified because the information hasn’t been made public. Morgan Stanley is raising about 100 billion yen ($684 million) for a Japan-focused real estate […]
Months after President Donald Trump had been hammering Panama over its most valuable asset, the Panama Canal, an investment group led by BlackRock, a giant American asset manager, has agreed to buy two ports in the place owned by a Hong Kong company. BlackRock will buy the ports, which sit at either end of the […]
Explosive Allegations Surface: Ken Koh Accuses UOB of Breaching Banking Secrecy and Orchestrating a Conspiracy That Cost 300 Singaporeans Their Jobs — Potentially Singapore’s Largest Financial Scandal In a bombshell revelation backed by audio recordings and extensive documentation, Ken Koh, former CEO of Yang Kee Logistics, alleges that United Overseas Bank (UOB) coerced him into […]
Four Chinese state-owned banks announced plans on Sunday to introduce the Ministry of Finance (MOF) as a strategic investor through targeted share placements, with their boards having approved proposals to issue A-shares to designated investors. The initiative includes the Bank of China (BOC), China Construction Bank (CCB), Bank of Communications (BOCOM), and Postal Savings Bank […]
China’s finance ministry will inject $69 billion into four of the nation’s largest state banks via their share placements, following through on Beijing’s earlier pledge to beef up the lenders’ capital buffers. Bank of Communications Co.,Ltd., Bank of China, Postal Savings Bank of China Co., Ltd. and China Construction Bank plan to raise up to a combined 520 billion yuan […]
Africa’s digital payments economy is set to grow from strength to strength according to a Mastercard-commissioned report by Genesis Analytics stating that the digital payments economy is expected to reach $1.5 trillion by 2030. As a longstanding technology partner to Africa, Mastercard continues to strengthen its commitment to the continent’s digital growth through strategic investments, […]
Ghana is strengthening its collaboration with international partners to enhance its small-scale gold mining (ASGM) sector and the broader gold value chain for socioeconomic development. The Ashanti Green Initiative, led by Oheneba Kwaku Duah, Prince of Ghana’s Ashanti Kingdom, is spearheading the inaugural Mining in Motion Summit in partnership with the World Bank and the World […]