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☆ Why investors are on edge ahead of Friday’s jobs report
▼ + stars: | 2024-09-05 | by ( Krystal Hur | ) edition.cnn.com time to read: +4 min

New York CNN —Wall Street is eyeing what could be the most consequential economic data report in months due out Friday. At the same time, Wall Street is looking for signs that the job market is cooling steadily, rather than plummeting into conditions for a recession. That uncertainty has been palpable in recent days as Wall Street parsed several economic reports before Friday’s main event. Big Tech shares gained Thursday, but suffered steep losses earlier this week. Tesla, the only Magnificent Seven tech stock up for the week, has jumped 7.5%.

Persons: That’s, Jerome Powell, “, ”, Christopher Larkin, Morgan, Stocks, Dow, BeiChen Lin, Tesla Organizations: New, New York CNN, Federal Reserve, Nasdaq, Institute for Supply Management, “, Russell Investments, Big Tech, Apple, Meta, Microsoft, Organization of, Petroleum Locations: New York, China

☆ Premarket stocks: Why another unexpectedly hot jobs report could derail markets
▼ + stars: | 2024-03-08 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Wall Street was taken aback by the US labor market’s resilience in January. Another unexpectedly hot report could shake things up again. The January jobs report showed that the US economy added a stunning 353,000 jobs that month and the unemployment rate stayed at 3.7%. The new EU regulations force sweeping changes on some of the world’s most widely used tech products, including Apple’s app store, Google search and messaging platforms, including Meta’s WhatsApp. The broad obligations apply only to the EU, which could leave tech users in the United States and other markets looking longingly at some of the features Big Tech is rolling out in response to the European directive.

Persons: Jerome Powell, he’s, “, ” Powell, Bonnie Cash, —, ’ ”, BeiChen Lin, It’s, Loretta Mester, ”, José Torres, Meta’s, Brian Fung, Apple, Bing, Read, Elisabeth Buchwald, NYCB, Steven Mnuchin’s, Alessandro DiNello, ” Read Organizations: CNN Business, Bell, New York CNN, Federal, Financial, Capitol, Reuters, Traders, Russell Investments, ” Cleveland Federal, CNBC, Market, Interactive Brokers, Apple, Google, Union citizens, Big Tech, New York Community Bank, Silicon Valley Bank, Liberty Strategic Capital Locations: New York, Washington ,, United States, NYCB, Silicon

The most common measure of inflation, the CPI is expected to have fallen to 2.9% annually from 3.4% while the core CPI, excluding food and energy costs, is forecast to have declined to a 3.7% rate from 3.9% in December. Year-end revisions to 2023 CPI data, released last Friday, showed inflation was actually slightly lower on a monthly basis in December than earlier estimated. “But ‘generally’ doesn’t necessarily mean linear or consistent – there could very well be bumps ahead.”“Core inflation today is being primarily driven by shelter and wage-sensitive core services,” Lin added. Headier growth could mean prices will take longer to revert back to the 2% annual inflation target set by the Federal Reserve. The day also brings the first reading on consumer sentiment for February from the University of Michigan’s key index.

Persons: ”, BeiChen Lin, ” Lin, Jerome Powell, David Andolfatto, Louis, “, Bill Adams, Waran Organizations: Russell Investments, Economic, Federal Reserve Bank, Atlanta’s, Federal Reserve, Research, Miami Herbert Business School, University of Miami, Federal Reserve Bank of St, University of, Comerica Bank, “ Locations: U.S

☆ How China's Shein became a fast-fashion giant
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +3 min

A Shein logo is pictured at the company's office in the central business district of Singapore, October 18, 2022. REUTERS/Chen Lin/File Photo Acquire Licensing RightsNov 28 (Reuters) - China-founded fashion company Shein has confidentially filed to go public in the United States, two sources familiar with the matter told Reuters on Monday. Shein says the approach has helped it consistently achieve average unsold inventory rates in the low single digits. At that valuation, Shein would still trail Uniqlo owner Fast Retailing's (9983.T) $80 billion valuation and Zara owner Inditex's (ITX.MC) $126 billion. Shein moved its headquarters to Singapore from Nanjing, capital of China's eastern Jiangsu province, around late 2021, a shift that analysts said helps the firm circumvent China's tough new rules on overseas listings.

Persons: Chen Lin, Shein, Chris Xu, PDD, Inditex's, Miyoung Kim, Stephen Coates Organizations: REUTERS, Reuters, WHO, Shein, Walmart, Thomson Locations: Singapore, China, United States, Europe, Asia, U.S, Swedish, Zara, Nanjing, China's, Jiangsu

The Singapore-based company has not determined the size of the deal or the valuation at IPO. The online fast-fashion retailer, which manufactures most of its merchandise in China, faces criticism that Uyghur forced labor is used to make its low-priced apparel and home goods. Earlier this year, the congresswoman led a bipartisan call for the SEC to halt Shein’s IPO until it verifies that the company does not use forced labor within its supply chain. Shein did not immediately respond to a request for comment, but the company has previously told Reuters it has “zero tolerance for forced labor” and has no contract manufacturers in Xinjiang. Shein's IPO is "going to be raising issues (for the SEC) that may later be applied across the board to all China-based or China-related companies that are going public," Penick said.

Persons: Chen Lin, Shein confidentially, Shein, Jennifer Wexton, Megan Penick, Robinson, Penick, Republican Sen, Marco Rubio, ”, Rubio, Chris Smith, Smith, ByteDance's TikTok, Group's, Katherine Masters, Arriana, Michael Martina, Marguerita Choy Organizations: REUTERS, Bloomberg, Beijing, U.S . Securities, Exchange Commission, SEC, Reuters, Reuters Graphics, Capitol Hill, Republican, Congressional, Commission, Oritain, U.S, Thomson Locations: Singapore, China, New York, U.S, Beijing, Washington, China's Xinjiang, Xinjiang, India

☆ Shein targets up to $90 billion valuation in US IPO - Bloomberg News
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: 1 min

A Shein logo is pictured at the company's office in the central business district of Singapore, October 18, 2022. REUTERS/Chen Lin/File Photo Acquire Licensing RightsNov 6 (Reuters) - Shein is hoping for a valuation of as much as $90 billion for an eventual U.S. initial public offering, Bloomberg News reported on Monday, citing people familiar with the matter. Reporting by Devika Nair in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Chen Lin, Devika Nair, Sonia Cheema Organizations: REUTERS, Bloomberg, Thomson Locations: Singapore, Bengaluru

☆ Britain's Prince Visits Singapore for Earthshot Environmental Prize
▼ + stars: | 2023-11-07 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +1 min

By Chen LinSINGAPORE (Reuters) - Britain's Prince William attended the annual Earthshot Prize ceremony on Tuesday, which awards 1 million pounds ($1.23 million) to each of five green innovators working on projects including a cleaner lithium-ion battery and ocean conservation. "The light of optimism is burning bright in our Earthshot finalists," Prince William said at the ceremony in Singapore. Representing six continents and chosen from over 1,300 nominees, the 15 finalists' projects ranged from a scheme to plant, grow and digitally track trees in Liberia to a less carbon-intensive method of treating industrial wastewater. William, who became heir to the British throne after Queen Elizabeth died in September last year, set up the prize in 2020. This is William's first trip to Singapore since 2012, when he visited with his wife Kate, the Princess of Wales.

Persons: Chen Lin SINGAPORE, Britain's Prince William, Prince William, William, Queen Elizabeth, John F, Kate, Princess, Wales, Chen Lin, Bernadette Baum Locations: Singapore, Hong Kong, Liberia, Kensington

Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong delivers the Singapore Energy Lecture during the 15th Singapore International Energy Week, in Singapore October 25, 2022. REUTERS/Isabel Kua/File Photo Acquire Licensing RightsSINGAPORE, Nov 5 (Reuters) - Singapore Prime Minister Lee Hsien Loong on Sunday said he will hand leadership of the ruling People's Action Party to Deputy Prime Minister Lawrence Wong as soon as the party's 70th anniversary in November 2024, a year before an election is due. He has served as party secretary-general and prime minister since 2004 and last year chose Wong, who is also finance minister, as his successor. Therefore, I intend to hand over to DPM Lawrence before the next general election," Lee said at an annual party conference. He served as Lee's principal private secretary from 2005 to 2008 and led the education and national development ministries before becoming finance minister in 2021 and deputy prime minister last year.

Persons: Finance Lawrence Wong, Isabel Kua, Lee Hsien Loong, Lawrence Wong, Wong, Lee, Lee Kuan Yew, DPM Lawrence, Walid Jumblatt Abdullah, Chong Ja Ian, Chen Lin, Michael Perry, Christopher Cushing Organizations: Finance, Singapore Energy, Singapore International Energy, REUTERS, Rights, Singapore Prime, Party, Monetary Authority of, Nanyang Technological University, Still, National University of Singapore, Thomson Locations: Singapore, Rights SINGAPORE, Lawrence, Monetary Authority of Singapore

☆ Southeast Asia internet economy to grow 11% y/y in 2023
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +1 min

An internet LAN cable is pictured in this photo illustration taken in Sydney June 23, 2011. REUTERS/Tim Wimborne/File Photo Acquire Licensing RightsSINGAPORE, Nov 1 (Reuters) - Southeast Asia's internet economy is expected to grow 11% year-on-year in 2023, slowing from last year's 20% growth, an industry report showed on Wednesday. The annual report published jointly by Alphabet (GOOGL.O)'s Google, Singapore state investor Temasek Holdings and global business consultants Bain & Company, also said the region's internet economy is seen worth $295 billion by 2025, down from a previous estimate of $330 billion. "Digital economy sectors are showing positive growth trajectories, with travel and transport on track to exceed pre-pandemic levels by 2024," the companies said in a joint statement. The region of 11 countries and more than half a billion people has a young population, widespread smartphone usage, and a growing middle class, making it one of the world's fastest growing internet markets.

Persons: Tim Wimborne, Chen Lin, Kanupriya Kapoor Organizations: REUTERS, Rights, Google, Temasek Holdings, Bain & Company, Thomson Locations: Sydney, Rights SINGAPORE, Singapore

The central bank left interest rates unchanged from its September meeting, but its formal statement acknowledged that “economic activity expanded at a strong pace in the third quarter.” In its last statement in September, it referred to the economy’s “solid” pace. But the Fed and Chairman Jerome Powell made sure that the lack of action Wednesday does not mean that rates could be raised should incoming data show the economy is remaining strong. And the Fed says it remains committed to bringing annual inflation down to its target level of 2%. “As of Oct 31, markets expect that the Federal Reserve will keep interest rates above 4.5% through the end of 2024. But we think that interest rates could go much lower,” said BeiChen Lin, investment strategy analyst at Russell Investments.

Persons: Jerome Powell, Powell, “, We’re, ” Powell, “ We’re, It’s, ”, Neel Mukherjee, Subadra Rajappa, BeiChen Lin Organizations: Federal Reserve, Commerce Department, Fed, Societe Generale, Russell Investments Locations: TIAA, 10y

In London, girls in a playground are told they are "stinking Jews" and should stay off the slide. In China, posts likening Jews to parasites, vampires or snakes proliferate on social media, attracting thousands of "likes". She was describing what was in the minds of those behind antisemitic incidents. The most chilling antisemitic incident globally was the storming of an airport in Russia's Dagestan region on Sunday by an enraged crowd looking for Jews to harm after a flight arrived from Tel Aviv. Rabbi Alexander Boroda, president of Russia's Federation of Jewish Communities, said in response that anti-Israeli sentiment had morphed into open aggression towards Russian Jews.

Persons: Anna Gordon, Anthony Adler, Adler, Nonna Mayer, France's, Israel, Mayer, Rabbi Alexander Boroda, Shneor Segal, Akiva Carr, Layli Foroudi, Julia Harte, Chen Lin, Maytaal Angel, Andrew Osborn, Carien du Plessis, Steven Grattan, Eliana, Wa Lone, Thomas Escritt, Stephanie Van Den Berg, Estelle Shirbon, Angus MacSwan Organizations: REUTERS, Russia's Federation of Jewish, Cornell University, Center for Jewish, Thomson Locations: Golders Green, London, Britain, Gaza, Los Angeles, China, Israel, United States, France, Germany, South Africa, Russia's Dagestan, Tel Aviv, Azerbaijan, Caucasus, Buenos Aires, New York, Johannesburg, Western Europe, Dagestan, Wa

☆ How the surge in antisemitism is affecting countries around the world
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +5 min

Smoke rises following an Israeli strike inside the Gaza Strip, as seen from Israel, October 31. BRAZILJewish leaders have noticed a rise in antisemitic discourse online, and incidents such as graffiti defacing a synagogue in Rio de Janeiro. BRITAINLondon's police force said there had been a 14-fold increase in incidents of antisemitism since the Oct. 7 attack. GERMANYA survey by a civil society observatory, the RIAS, found a 240% year-on-year increase in antisemitic incidents in the period of Oct. 7-15. CHINANo figures are available on antisemitic incidents.

Persons: Evelyn Hockstein, Karen Bass, Justin Trudeau, Ricardo Berkiensztat, Hitler, Gerald Darmanin, Darmanin, Eddo, David Saks, we'll, Rabbi Alexander Boroda, Andrew MacAskill, Layli Foroudi, Julia Harte, Chen Lin, Eliana, Maytaal Angel, Andrew Osborn, Carien du Plessis, Steven Grattan, Wa Lone, Thomas Escritt, Stephanie Van Den Berg, Estelle Shirbon Organizations: REUTERS, Reuters, UNITED STATES, Defamation League, White, CANADA, Argentine, Local, BRAZIL Jewish, Jewish Federation of, State of, Community Security Trust, FRANCE Interior, Hamas, SOUTH, South African Jewish Board, Deputies, Russia's Federation of Jewish, Thomson Locations: Gaza, Israel, Los Angeles, Canada, Toronto, ARGENTINA, Buenos Aires, Argentine, BRAZIL, Rio de Janeiro, State, State of Sao Paulo, BRITAIN, Britain, FRANCE, GERMANY, NETHERLANDS, SOUTH AFRICA, RUSSIA, Dagestan, Tel Aviv, CHINA, Beijing, Nazi, Wa

☆ Shein plans to ship Brazil-made products around Latin America from 2026
▼ + stars: | 2023-10-19 | by ( Andre Romani | ) www.reuters.com time to read: +2 min

The firm started manufacturing clothes in Brazil earlier this year, its first production center outside China. "The idea is that by 2026 Brazil will be ready to serve Latin America," Magalhaes told reporters on Wednesday at an event at Shein's Sao Paulo office. She did not specify which Latin American countries Shein could ship products to from Brazil. Brazil is one of its five main markets and the largest in Latin America, the company said. In addition to Brazil, the company started manufacturing in Turkey this year and plans to build a factory in Mexico.

Persons: Chen Lin, Fabiana Magalhaes, Magalhaes, Chris Xu, Shein, Andre Romani, Peter Frontini, Sonali Paul Organizations: REUTERS, SAO PAULO, Shein's Sao Paulo, Thomson Locations: Singapore, Brazil, Latin America, China, Nanjing, Turkey, Mexico

Wang Yi, China's top diplomat, said the country would continue to play a constructive role in handling global "hotspot issues". But after the killings of more than 900 Israelis in coordinated assaults by the Islamic group Hamas, China's response was muted. China is willing to maintain communication with all parties and make unremitting efforts for peace and stability in the Middle East," Wang Wenbin, a foreign ministry spokesperson, said on Tuesday. "The achievement of peace in the Middle East region and the just settlement of the question of Palestine are inseparable." "China is very successful in a stable environment in the Middle East when it's possible to broker reconciliation agreements between Saudi Arabia and Iran," said Jean-Loup Samaan, Senior Research Fellow at the Middle East Institute of the National University of Singapore.

Persons: Washington . Wang Yi, Xi Jinping, Bill Figueroa, Wang Wenbin, COVID lockdowns, Xi, Steve Tsang, Zhai Jun, Liu Zhongmin, Yun Sun, Tuvia Gering, Jean, Loup Samaan, Samaan, Michael Martina, Don Durfee, Gerry Doyle Organizations: Hamas, University of Groningen, Palestinian, Western, SOAS China Institute, Palestinian Authority, West Bank, Arab League, EU, Palestine, United Nations, Abraham Accords, Institute for Middle East Studies of Shanghai International Studies University, China Program, Stimson, Institute for National Security Studies, Initiative, Middle East Institute of, National University of Singapore, Thomson Locations: China, Middle East HONG KONG, BEIJING, SINGAPORE, Saudi Arabia, Iran, Israel, Gaza, Saudi, Washington, Palestine, Netherlands, United States, PALESTINE, China's, Beijing, Russia, Ukraine, London, U.S

☆ Haze hits Singapore as hot spots in Sumatra increase
▼ + stars: | 2023-10-07 | by ( Chen Lin | ) www.reuters.com time to read: +2 min

Transborder haze is a perennial problem in Southeast Asia as regulatory loopholes make it hard for authorities to eliminate Indonesia's slash-and-burn land clearing practices. Singapore's National Environment Agency said 212 hot spots were detected on Indonesia's nearby Sumatra island on Friday, up from 65 on Thursday and 15 the day before. A brief shift in the wind direction on Friday afternoon blew some of the lighter haze toward Singapore, worsening the island nation's in air quality, it said. Earlier in the week Malaysia urged Indonesia to take action on the fires within Indonesia's borders as the air quality in Malaysia hit unhealthy levels. The most severe haze conditions recorded in Singapore were in September 2015, when the 24-hour index exceeded 300 to the hazardous level, prompting school closures.

Persons: Antara, Chen Lin, William Mallard Organizations: Rights, National Environment Agency, Thomson Locations: Ogan Ilir, South Sumatra, Indonesia, Rights SINGAPORE, Singapore, Southeast Asia, Sumatra, Malaysia, Indonesia's

☆ Singapore police confirm arrest of "36-year-old man", responding to query on reported arrest of 3AC's founder
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: 1 min

SINGAPORE, Oct 5 (Reuters) - Singapore police confirmed on Thursday the Sept . 29 arrest of a "36-year-old man" at the Changi Airport, responding to a query on the arrest of Su Zhu, one of the founders of bankrupt crypto hedge fund Three Arrows Capital. Police did not identify the arrested man or elaborate in the response to ReutersReporting by Chen Lin; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

Persons: Su Zhu, Chen Lin, Martin Petty Organizations: Singapore, Changi, Arrows Capital . Police, Reuters, Thomson Locations: SINGAPORE

☆ Shein shifts shipping strategy to bring China-made goods closer to US shoppers
▼ + stars: | 2023-09-22 | by ( Katherine Masters | ) www.reuters.com time to read: +4 min

The move also marks a strategy shift for Shein, which has traditionally flown goods directly from China to shoppers. Goods eligible for QuickShip are delivered significantly faster than Shein's standard shipping times, which can range from nine to 14 days, according to estimates on its website. Importing high-demand products in bulk helps Shein save money, a person familiar with Shein's strategy said, as ocean shipping is significantly less costly than air freight. Shipping goods by air directly from China is a strategy that helps the e-tailer avoid unsold inventory piling up in warehouses, according to Juozas Kaziukenas, founder of e-commerce analytics firm Marketplace Pulse. Prior to 2020, Shein imported no clothing by ocean freight, according to the ImportGenius data.

Persons: Chen Lin, ImportGenius, Shein, AWEIGH Shein, Juozas Kaziukenas, Katherine Masters, Matthew Lewis Organizations: REUTERS, Reuters, Walmart, UBS, U.S . House, PDD Holdings, Shipping, Thomson Locations: Singapore, China, U.S, Whitestown , Indiana, Shein, Indiana, Cherry Valley , California, York

☆ Singapore's non-oil exports fall for a 11th month in August
▼ + stars: | 2023-09-18 | by ( Chen Lin | ) www.reuters.com time to read: +2 min

SINGAPORE, Sept 18 (Reuters) - Singapore's annual exports fell for an 11th straight month in August as the trade-reliant economy continues to grapple with global headwinds on inflation and declining demand. Singapore's non-oil domestic exports (NODX) fell 20.1% year-on-year in August, official data showed on Monday, as both electronics and non-electronics exports to the United States, Europe and China declined. Economists are expecting the Monetary Authority of Singapore (MAS) to keep monetary policy unchanged in the policy review scheduled next month due to the weak growth and persistent inflation. NODX to the United States contracted by 32.4% in August, after the 34.3% expansion in the preceding month, mainly due to the sharp decline in non-electronic exports. Last month, Singapore narrowed its economic growth forecast to 0.5% to 1.5% this year from 0.5% to 2.5%, after it narrowly averted a recession in the second quarter when its economy expanded a seasonally-adjusted 0.1%.

Persons: Brian Tan, it's, Tan, Chen Lin, Kanupriya Kapoor Organizations: Barclays, Authority of Singapore, MAS, Enterprise Singapore, Thomson Locations: SINGAPORE, United States, Europe, China, Singapore

☆ Singapore c.bank bars 3AC founders from market activity
▼ + stars: | 2023-09-14 | by ( Chen Lin | ) www.reuters.com time to read: +1 min

A view of the Monetary Authority of Singapore's headquarters in Singapore June 28, 2017. REUTERS/Darren Whiteside/File Photo Acquire Licensing RightsSINGAPORE, Sept 14 (Reuters) - Singapore's central bank said on Thursday it has barred the founders of bankrupt cryptocurrency hedge fund Three Arrows Capital (3AC) from market activity in the city-state for nine years. The Monetary Authority of Singapore (MAS) said in a statement it had issued orders, which, effective from Sept 13, prohibit 3AC founder Zhu Su and Kyle Livingston Davies from performing any regulated activity and from managing any capital market services firms in Singapore. "Senior management of fund managers are required to implement robust risk management measures to protect the interest of investors," Loo Siew Yee, MAS Assistant Managing Director said. Representatives for Zhu and Davies could not immediately be reached for comment.

Persons: Darren Whiteside, cryptocurrencies Luna, TerraUSD, Zhu Su, Kyle Livingston Davies, Loo Siew Yee, Zhu, Davies, Kanupriya Kapoor Organizations: Monetary Authority, REUTERS, Rights, Arrows, British Virgin Islands, Monetary Authority of Singapore, MAS, Thomson Locations: Singapore, Rights SINGAPORE, British Virgin

☆ Economists cut Singapore 2023 growth and inflation forecasts - survey
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, Sept 6 (Reuters) - Economists have downgraded Singapore's 2023 growth forecasts and inflation expectations, according to a survey by the country's central bank published on Wednesday, with spillovers from an external growth slowdown cited as the top risk. The median inflation forecast is for headline consumer prices to rise 4.7% this year, down from 5.0% predicted in June. The median forecast for MAS core inflation, which excludes private road transport and accommodation costs, is 4.1%, unchanged from the previous survey. Both headline inflation and MAS core inflation are expected to ease in 2024, to 3.1% and 2.8% respectively. About 69% of survey respondents cited the impact of a slowdown in external growth as the downside risk to the domestic outlook.

Persons: Yantoultra Ngui, Chen Lin, Kanupriya Kapoor Organizations: Monetary Authority of Singapore, Gross, MAS, Thomson Locations: SINGAPORE, Singapore

☆ Singapore seizes money launderer's assets in Swiss banks in S$1.8 billion case
▼ + stars: | 2023-09-06 | by ( Chen Lin | ) www.reuters.com time to read: +2 min

The Straits Times Illustrations/Cel Gulapa via REUTERS/File Acquire Licensing Rights Read moreSINGAPORE, Sept 5 (Reuters) - Police in Singapore investigating a major money laundering operation have seized S$125 million ($91.79 million) from the bank accounts of one of ten foreign suspects accused in the case. The total value of assets seized by investigating authorities now stands at S$1.8 billion, according to prosecutors. The scale of the money laundering operation has shocked the wealthy Asian financial hub, and raised concerns over whether there are loopholes in its financial system. A state court denied bail for two of the accused foreigners, Wang Baosen and Su Baolin, on Wednesday. ($1 = 1.3618 Singapore dollars)Reporting by Chen Lin in Singapore; Additional Reporting by Yantoultra Ngui; Editing by Simon Cameron-Moore and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Su Baolin, Su Haijin, Chen Qingyuan, Su Wenqiang, Lin Baoying, Zhang Ruijin, Wang Dehai, Su Jianfeng, Vang Shuiming, Wang Baosen, Bank Julius Baer, Julius Baer, Chen Lin, Yantoultra Ngui, Simon Cameron, Moore, Jan Harvey Organizations: The Straits, REUTERS, Police, Turkish, Credit Suisse Singapore, Bank, Credit Suisse, Thomson Locations: Singapore, SINGAPORE, Vang

☆ Candidate close to establishment wins Singapore presidential race
▼ + stars: | 2023-09-01 | by ( Chen Lin | ) www.reuters.com time to read: +3 min

[1/5] Presidential candidate Tharman Shanmugaratnam meets his supporters after early sample vote count results at the presidential election in Singapore September 1, 2023. Former deputy prime minister Tharman Shanmugaratnam, 66, won 70.4% of votes, the elections department said, to become Singapore's head of state. Analysts said the landslide victory for the candidate seen as closest to the establishment is a sign that Singaporeans generally still trust the ruling People's Action Party (PAP). The role of the president is largely ceremonial in Singapore, though the office is expected to ensure checks and balances on the government. This is Singapore's third presidential election since a 1991 act gave the public the right to choose and Tharman will be the country's ninth president overall.

Persons: Tharman Shanmugaratnam, Edgar Su, Lee Hsien Loong, Walid Jumblatt Abdullah, Tharman, Lee, Mr Tharman, Chen Lin, Kanupriya Kapoor Organizations: REUTERS, Rights, Saturday, Analysts, Action Party, Nanyang Technological University, PAP, Presidential Advisers, Thomson Locations: Singapore, Rights SINGAPORE

A Shein logo is pictured at the company's office in the central business district of Singapore, October 18, 2022. The letter urged the SEC to ensure that Shein and other foreign companies listed on U.S. exchanges verify through independent audits that they comply with U.S. laws that prohibit imports made with any forced labor. Shein has previously said it does not plan to IPO this year and has zero tolerance for forced labor. Shein has been able to rapidly expand in the U.S. despite concerns over its labor practices and sustainability. In May, two dozen U.S. representatives sent a similar letter to the SEC asking for it to halt a potential Shein IPO until the company confirmed that it does not use forced labor.

Persons: Chen Lin, Shein, Todd Rokita, Arriana McLymore, Cynthia Osterman Organizations: REUTERS, Securities and Exchange Commission, SEC, Reuters, New York Stock Exchange, Nasdaq, Indiana, Republican, Thomson Locations: Singapore, U.S, China, Washington, Beijing, Shein, Indiana, New York City

☆ Shein deal kills several birds with one stone
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +2 min

A Shein logo is pictured at the company’s office in the central business district of Singapore, October 18, 2022. REUTERS/Chen Lin Acquire Licensing RightsTORONTO, Aug 24 (Reuters Breakingviews) - Shein isn’t wasting any time in the U.S. battle for buyers of ultra-fast fashion. In exchange, Sparc will become a minority shareholder in Shein. The clever relationship kills a few birds with one stone. Shein is highly skilled at manufacturing TikTok-friendly wares, but has come under attack for its ESG credentials.

Persons: Chen Lin, Simon Property, Simon, Brooks, Sharon Lam, Coinbase’s, Lauren Silva Laughlin, Oliver Taslic Organizations: REUTERS, Rights, Reuters, Forever, Sparc, Authentic Brands, Authentic, X, Thomson Locations: Singapore, U.S, Shein, American

[1/3] Presidential candidate Tan Kin Lian, speaks to the media and supporters at the nomination centre in Singapore August 22, 2023. About three-quarters of Singapore's 3.5 million citizens are ethnic Chinese, with the rest of the population ethnic Malays, ethnic Indian or Eurasian. Tan was also one of four candidates who ran for president in the 2011 election. Singapore's president sits for a 6-year term. ($1 = 1.3568 Singapore dollars)Reporting by Xinghui Kok, Additional reporting by Chen Lin; editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Tan Kin Lian, Caroline Chia, Tharman Shanmugaratnam, Lee Hsien Loong, Ng, Halimah, Tan, Xinghui Kok, Chen Lin, Miral Organizations: REUTERS, Rights, Action Party, Thomson Locations: Singapore

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