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☆ Ferrari on top in Singapore practice with lizards on track
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

[1/3] Formula One F1 - Singapore Grand Prix - Marina Bay Street Circuit, Singapore - September 14, 2023 Ferrari's Charles Leclerc signs autographs for fans as Ferrari's Carlos Sainz Jr. car is seen in the pits ahead of the Singapore Grand Prix REUTERS/Edgar Su Acquire Licensing RightsSINGAPORE, Sept 15 (Reuters) - Charles Leclerc set the pace as Ferrari led one-two in first Friday practice for a Singapore Grand Prix that could finally end Formula One champions Red Bull's record run of 15 wins in a row. Team mate Carlos Sainz was 0.078 slower in a session with yellow flags to warn drivers of monitor lizards crossing the track. Verstappen has yet to win in Singapore, or start on pole there, and Red Bull had identified Ferrari as the main threat coming into the weekend after their strong performance in the Italian Grand Prix at Monza. "I think this track is going to be one of the toughest of the season for us," Red Bull team boss Christian Horner told Sky Sports television. "There's a lizard again on the track, bit smaller this time," said Verstappen, who encountered a much bigger one on the same track in 2016, over the team radio.

Persons: Ferrari's Charles Leclerc, Ferrari's Carlos Sainz Jr, Edgar Su, Charles Leclerc, Ferrari, Red, Carlos Sainz, Max Verstappen, Sergio Perez, Verstappen, Red Bull, Christian Horner, McLaren, Mercedes, McLaren's Lando Norris, Lewis Hamilton, George Russell, Perez, Russell, Alan Baldwin, Christian Radnedge Organizations: Singapore, Circuit, Singapore Grand Prix REUTERS, Rights, Prix, Monza, Sky Sports, Briton, Thomson Locations: Singapore, Rights SINGAPORE, London

☆ U.S. endorses Utah's Winter Olympics bid with eye toward 2034
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

An ice maker installs a sub-glacial Olympic logo ahead of the Beijing 2022 Winter Olympics at Yanqing National Sliding Centre in Yanqing, China, January 28, 2022. REUTERS/Edgar Su/File photo Acquire Licensing RightsSept 14 (Reuters) - Leadership of the United States Olympic and Paralympic Committee (USOPC) has endorsed Salt Lake City's bid to host another Winter Olympics, with a preference for 2034, officials said on Thursday. USOPC said 2034 is a more desirable date than 2030 due to the 2028 Summer Olympics being held in Los Angeles. Utah's scenic capital city previously hosted the Winter Games in 2002. "This is a significant milestone for us," Fraser Bullock, CEO of the Salt Lake City's bid committee, said on the call.

Persons: Edgar Su, USOPC, Gene Sykes, we've, Fraser Bullock, Bullock, Rory Carroll, Pritha Sarkar Organizations: REUTERS, United States Olympic, Paralympic, Salt Lake, Games, IOC, Olympic, Winter, Thomson Locations: Beijing, Yanqing, China, Salt, Los Angeles, Salt Lake City , Utah, Sweden, Switzerland, France, Mumbai

☆ Unity discovers how real the revenue struggle is
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Edgar Su Acquire Licensing RightsNEW YORK, Sept 13 (Reuters Breakingviews) - Unity Software (U.N) is finding out just how hard the revenue game will be. The $14 billion company’s new plan to climb out of an unprofitable hole makes sense, but also faces considerable pushback. The strategy seeks to impose fees on video-game developers after certain revenue and install thresholds are met, eliciting a harsh response on social media on Tuesday. Unity may retain its customers, as switching suppliers can be a pain, but deeper-pocketed rivals such as Epic Games may see an opportunity to pounce. Silicon Valley’s revenue struggle is real.

Persons: Edgar Su, Robert Cyran, BoE, Jeffrey Goldfarb, Sharon Lam, Aditya Sriwatsav Organizations: REUTERS, Reuters, Unity Software, Apple, Unity, X, Treasury, UBS, Thomson Locations: Pico, Singapore, Asia

The lawsuits come after thousands of Hyundai and Kia thefts that use a method popularized on TikTok and other social media channels. The cities suing Kia and Hyundai include New York, Cleveland, San Diego, Milwaukee, Columbus and Seattle. Kia and Hyundai vehicles represent a large share of stolen cars in many U.S. cities, according to data from police and state officials. Many Hyundai and Kia vehicles have no electronic immobilizers, which prevent break-ins and bypassing the ignition. In May, the automakers agreed to a consumer class-action lawsuit settlement worth $200 million over rampant car thefts of the Korean automakers' vehicles.

Persons: Edgar Su, Immobilizers, David Shepardson, Angus MacSwan Organizations: Singapore, REUTERS, Rights, Korean, Hyundai Motor, Kia Corp, Hyundai, Kia, Traffic Safety Administration, Insurance Institute, Highway, Data, Thomson Locations: Singapore, New York, Cleveland, San Diego, Milwaukee, Columbus, Seattle, U.S

☆ Olam Group denies reports of multi-billion dollar forex fraud in Nigeria, shares slump
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +1 min

An Olam logo is pictured in their office in Singapore August 14, 2017. REUTERS/Edgar Su/File Photo Acquire Licensing RightsSept 11 (Reuters) - Singapore's Olam Group (OLAG.SI) on Monday denied reports by the Nigerian media last week, alleging that its units in the African country were involved in a multi-billion dollar foreign exchange fraud. The Daily Nigerian and Prime Business Africa reported that Nigeria's secret police was investigating the company's units Olam Nigeria and Olam International and their associate firms for a more than $50 billion foreign exchange fraud. "The company categorically denies the allegations in the Articles," Olam said in a statement, and said it has directed its audit committee to review the matter. The company said that its unit Olam Nigeria has responded to requests for information by Nigerian authorities and will continue to cooperate.

Persons: Edgar Su, Olam, Echha Jain, Sonia Cheema Organizations: REUTERS, Daily Nigerian, Prime Business Africa, Olam International, Thomson Locations: Singapore, Nigerian, Nigeria, Bengaluru

☆ In U.S.-China AI contest, the race is on to deploy killer robots
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +26 min

In this high-tech contest, seizing the upper hand across fields including AI and autonomous weapons, like Ghost Shark, could determine who comes out on top. This could become critical if the United States intervened against an assault by Beijing on Taiwan. Cheap and expendableThe AI military sector is dominated by software, an industry where change comes fast. Still, the available disclosures of spending on AI military research do show that outlays on AI and machine learning grew sharply in the decade from 2010. The Costa-Mesa, California-based company now employs more than 1,800 staff in the United States, the United Kingdom and Australia.

Persons: America’s, Shane Arnott, Anduril, ” Arnott, Arnott, ”, “, Mick Ryan, Eric Schmidt, hasn’t, Lloyd Austin, –, Stuart Russell, Russell, Kathleen Hicks, “ We’ll, Palmer Luckey, Luckey, ” Arnott didn’t, Biden, Tsai Ing, Frank Kendall, Datenna, Martijn Rasser, Feng Yanghe, Feng, Palmer, ” Anduril, Arnott wouldn’t, David Lague, Edgar Su, Catherine Tai, Peter Hirschberg Organizations: Australian Navy, Ghost Sharks, Sharks, Reuters, Defense, Australian, Chinese Communist Party, Beijing, People’s Liberation Army, PLA, Department of Defense, Pentagon, Australia’s Department of Defence, Australian Defence Force, Technologists, University of California, U.S ., U.S, Teledyne FLIR, Facebook, VR, Military, . Air Force, FH, U.S . Central Intelligence Agency, Department, Statistics, Harvard University, Biden Administration, Special, Command, Ministry of Defense, Veteran Locations: China, Australia, United States, Sydney, Britain, Japan, Singapore, South Korea, Europe, Asia, Ukraine, ”, America, U.S, Taiwan, East Asia, Beijing, Russian, Berkeley, Fort Campbell , Tennessee, Kenya, “, Russia, Colorado, Zhuhai, Netherlands, Costa, Mesa , California, United Kingdom, Virginia, Canberra, Washington

☆ Singapore’s wealth boom hits most sensitive phase
▼ + stars: | 2023-09-06 | by ( Anshuman Daga | ) www.reuters.com time to read: +5 min

REUTERS/Edgar Su Acquire Licensing RightsSINGAPORE, Sept 6 (Reuters Breakingviews) - Singapore’s wealth boom may be set for a pause. The amount involved has almost doubled and banks, realtors and jewellery dealers have been caught up in the ring. It is the most eye-catching saga since 2015 when Singapore’s banks were involved in the 1MDB Malaysian sovereign fund mess. As Singapore’s success as a financial centre grows, so too does its vulnerability to dirty money. A thornier problem is Singapore’s desire to avoid perceptions it is capitalising on the troubles of China, its top trade partner.

Persons: Edgar Su, Una Galani, Katrina Hamlin, Pranav Kiran Organizations: REUTERS, Rights, Reuters, realtors, DBS, Deutsche Bank, Bloomberg, Reuters Graphics Reuters, Monetary Authority of, U.S, Police, Thomson Locations: Marina Bay, Singapore, Rights SINGAPORE, China, Malaysian, Hong Kong, Monetary Authority of Singapore

☆ Country Garden: How bad are Chinese property developer's debt problems?
▼ + stars: | 2023-09-02 | by ( Xie Yu | ) www.reuters.com time to read: +4 min

A view of closed shops in a mall at Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. Who is Country Garden and why do people care about its debt woes? How bad is Country Garden's financial situation? It faces 108.7 billion yuan ($14.9 billion) worth of debts due within 12 months, while its cash levels are around 101.1 billion yuan. It said Country Garden was facing tight liquidity and recovery prospects for bondholders could be weak.

Persons: Edgar Su, Will, Moody's, Xie Yu, Sumeet Chatterjee, David Holmes, Gerry Doyle Organizations: REUTERS, HK, China Evergrande, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, HONG KONG, China, Evergrande, Will Beijing, Beijing, Guangdong, Caa1

☆ Explainer: Country Garden: How bad are the Chinese property developer's debt problems?
▼ + stars: | 2023-09-01 | by ( Xie Yu | ) www.reuters.com time to read: +4 min

A view of closed shops in a mall at Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. Who is Country Garden and why do people care about its debt woes? Until this year Country Garden was the largest Chinese developer by sales. It faces 108.7 billion yuan ($14.9 billion) worth of debts due within 12 months, while its cash levels are around 101.1 billion yuan. It said Country Garden was facing tight liquidity and recovery prospects for bondholders could be weak.

Persons: Edgar Su, Will, Moody's, Xie Yu, Sumeet Chatterjee, David Holmes Organizations: REUTERS, HK, China Evergrande, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, HONG KONG, China, Evergrande, Will Beijing, Beijing, Guangdong, Caa1

☆ 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

☆ Rich, poor countries split over costs of pandemic prevention
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +9 min

REUTERS/Bruno Kelly/StringerSince early in the COVID-19 pandemic, global health officials have sought to create a “pandemic treaty” to better prepare for future outbreaks. The governing body of the World Health Organization, or WHO, chose delegates from each of its six administrative regions worldwide to lead the negotiations. Ahead of next week’s meeting, according to officials interviewed by Reuters, the biggest sticking point remains financing for poor countries. The United States and the European Union have both said they support the inclusion of “One Health” provisions in a pandemic treaty. But as a far-reaching and sometimes abstract concept, “One Health” measures could be costly to put into practice.

Persons: ”, Chadia Wannous, zoonotic spillover, Bruno Kelly, Stringer, Lawrence Gostin, ” Gostin, –, Maria Van Kerkhove, “, Deborah J, Nelson, Ryan McNeill, Helen Reid, Sam Hart, Simon Newman, Edgar Su, Paulo Prada, Janet Roberts, Feilding Organizations: LONDON Health, World Health Organization, Organisation for Animal Health, Reuters, REUTERS, WHO, European Union, Center, National, Global Health Law, “, Pacific, Brazilian, South Locations: Geneva, France, United States, Asia, Africa, Latin America, Americas, Southeast Asia, Brazil

☆ Some onshore creditors of Country Garden private bond receive interest payments
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +1 min

A view of the residential apartments in Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. REUTERS/Edgar Su/File Photo Acquire Licensing RightsHONG KONG, Sept 1 (Reuters) - Some onshore creditors of embattled Chinese property developer Country Garden's (2007.HK) private bond have received interest payments, sources told Reuters on Friday. The development comes after Country Garden on Thursday delayed a deadline for creditors to vote on whether to postpone payments for that onshore 3.9 billion yuan ($537 million) private bond until Friday 1400 GMT to give bondholders "sufficient time" to prepare for the vote. Country Garden did not immediately respond to request for comment. Reporting by Li Gu, Kevin Huang and Xie Yu; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

Persons: Edgar Su, Li Gu, Kevin Huang, Xie Yu, Alex Richardson Organizations: REUTERS, HK, Reuters, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, HONG KONG

☆ Country Garden warns of default risks, 'deeply remorseful' for record loss
▼ + stars: | 2023-08-30 | by ( Clare Jim | ) www.reuters.com time to read: +3 min

A view of the construction at the Country Gardens' Forest City project in Johor Bahru, Malaysia February 21, 2017. REUTERS/Edgar Su/File photo Acquire Licensing RightsHONG KONG, Aug 30 (Reuters) - China's largest private property developer warned on Wednesday of default risks if its financial performance continues to deteriorate, and said it "felt deeply remorseful" for its record loss in the first half. Country Garden (2007.HK) posted a net loss between January and June of 48.9 billion yuan ($6.72 billion), versus a 6.7 billion yuan net loss in the second half of 2022 and a 612 million yuan net profit in the first half of 2022. Its total interest-bearing debts decreased to 257.9 billion yuan, of which 108.7 billion yuan would be due within 12 months, while it had total cash of 101.1 billion yuan. Country Garden shares closed down 3.3% at HK$0.88 before the earnings announcement.

Persons: Edgar Su, HONG KONG, Clare Jim, Tomasz Janowski, Andy Sullivan, Nick Macfie Organizations: Gardens, REUTERS, HK, Country Garden, Kingboard Holdings, Thomson Locations: Forest, Johor Bahru, Malaysia, HONG, Hong Kong

☆ In a rare win, a migrant worker sued his bosses in Singapore. And won
▼ + stars: | 2023-08-26 | by ( Heather Chen | ) edition.cnn.com time to read: +11 min

In July, 26 men were taken to hospitals after three lorries, two ferrying migrant workers, collided on a major highway. Migrant workers sit in the back of a lorry in Singapore on May 15, 2020. Suhaimi Abdullah/NurPhoto/Getty ImagesSingapore is home to about 1.4 million migrant workers, nearly a quarter of its population. “Recent tragic incidents have highlighted the continued grave risks posed by transporting migrant workers on lorries,” the statement read. Still, victories for migrant workers are rare, said local civil rights activist Jolovan Wham and a worker taking on his powerful employer was almost unheard of.

Persons: Murugan, Muhamad Ashraf Syed Ansarai, “, ” Ansarai, ”, – Toffazal Hossain, Sugunan, Edgar Su, Transport Amy Khor, ” Khor, Khor, Tan May Tee, ” Tan, ” “, Suhaimi Abdullah, Jolovan, Wham, ” Murugan, “ He’s, It’s Organizations: CNN, Singapore Civil Defence Force, Labor, ”, State, Ministry, Transport, “ Employers, Rigel Marine Services, Reuters, Getty, Singapore, Workers, Ministry of Transport, Singapore’s Ministry of Transport Locations: India, Singapore, Tamil Nadu, Bangladesh, China, Vietnam, ”, alighting

☆ Plane carrying Thailand's exiled ex-PM Thaksin lands in Bangkok - media, live TV
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: 1 min

Former Thai Prime Minister Thaksin Shinawatra looks on as he speaks to Reuters during an interview in Singapore February 23, 2016. REUTERS/Edgar Su/File Photo Acquire Licensing RightsBANGKOK, Aug 22 (Reuters) - A jet reported by Thai media to be carrying the fugitive former premier Thaksin Shinawatra touched down at an airport in Bangkok on Tuesday, according to live television footage. Thaksin, who was ousted in a coup and jailed in absentia in 2008 for abuse of power, has been in self-exile for 17 years and was due to be detained on arrival, according to police. Reporting by Panarat Thepgumpanat, Panu Wongcha-um, and Chayut Setboonsarng; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.

Persons: Thaksin Shinawatra, Edgar Su, Thaksin, Panarat Thepgumpanat, Panu, Chayut, Martin Petty Organizations: Thai, Reuters, REUTERS, Rights, Thomson Locations: Singapore, Rights BANGKOK, Bangkok

☆ SingTel Q1 profit slumps 23% on unfavourable currency move, high costs
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Edgar Su/File Photo Acquire Licensing RightsAug 21 (Reuters) - Singapore Telecommunications (STEL.SI) reported on Monday a 23% decline in first-quarter net profit, citing the one-off impact at Bharti Airtel (BRTI.NS) in Nigeria as the naira depreciated sharply against the U.S. dollar, as well as high costs. Singapore Telecommunications (SingTel), Southeast Asia's largest telecoms company, owns an effective 29.5% stake in India's Bharti Airtel. SingTel said in a statement net profit for the quarter ended June 30 was S$483 million ($355.91 million), compared with S$628 million a year earlier. On an underlying basis, net profit for the quarter gained 14.5% to S$571 million. SingTel also recorded a 2.7% decline in its first-quarter operating revenue to S$3.49 billion, hurt by currency exchange headwinds and competition.

Persons: Edgar Su, SingTel, Yuen Kuan, Sameer Manekar, Upasana Singh, Muralikumar Organizations: REUTERS, Singapore Telecommunications, Bharti Airtel, U.S ., Optus, Thomson Locations: Singapore, Nigeria, Nigerian, Australia, Bengaluru

☆ North Korea's Kim inspects cruise missile test as South Korea-US military drills begin
▼ + stars: | 2023-08-20 | by ( Hyonhee Shin | ) www.reuters.com time to read: +3 min

A North Korea flag flutters next to concertina wire at the North Korean embassy in Kuala Lumpur, Malaysia March 9, 2017. The latest missile test came as South Korea and the United States began the Ulchi Freedom Shield summer exercises on Monday, designed to enhance their joint responses to North Korea's evolving nuclear and missile threats. South Korean lawmakers have said the North could seek to fire an intercontinental ballistic missile or take other military action to protest the allies' drills or last week's summit of South Korea, the United States and Japan. North Korea has been constantly testing what it calls "strategic cruise missiles" since late 2021. While modernising and bolstering its naval power, North Korea showcased a new nuclear-capable underwater attack drone in March.

Persons: Edgar Su, Kim Jong Un, KCNA, Kim, Hyonhee Shin, Lisa Shumaker, Diane Craft Organizations: North, REUTERS, Rights, United States, Command, Navy, Thomson Locations: Korea, North Korean, Kuala Lumpur, Malaysia, Rights SEOUL, South Korea, Pyongyang, United States, Japan, North Korea

Former Thai Prime Minister Thaksin Shinawatra looks on as he speaks to Reuters during an interview in Singapore February 23, 2016. Also scheduled for Tuesday is another parliamentary vote for prime minister, to be nominated by the Thaksin-backed Pheu Thai Party. Some analysts said Thaksin's return suggests Pheu Thai has reached a deal with political parties on forming a government after gaining support from military-backed parties. Pheu Thai, set to nominate real estate tycoon Srettha Thavisin, needs the support of more than half the bicameral legislature, including the military-appointed Senate. The party on Thursday gained support from a rival military-backed party after a lawmaker from another military-backed party said they would support Pheu Thai in overcoming the impasse.

Persons: Thaksin Shinawatra, Edgar Su, Thaksin, Thaksin's, Paetongtarn Shinawatra, Surachate Hakparn, Thanaporn Sriyakul, Srettha Thavisin, Orathai Sriring, William Mallard Organizations: Thai, Reuters, REUTERS, BANGKOK, Thaksin, Thai Party, Political Science Association of Kasetsart University, Thomson Locations: Singapore, Thailand, Muang, Pheu

☆ Singapore's Sea misses Q2 revenue estimates on weak e-commerce sales
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

Southeast Asian e-commerce and gaming group Sea Ltd's sign is pictured at its office in Singapore, March 5, 2021. Tepid spending amid a challenging macroeconomic outlook pressured Sea's e-commerce business Shopee and caused a steep decline in its mobile gaming business. After a meteoric run in 2020 and part of 2021, with multiple quarters of triple-digital revenue increases, Sea's growth tapered as the pandemic-fueled boom in e-commerce and digital entertainment waned. Revenue grew over 5% from a year earlier to $3.10 billion, compared with analysts' estimate of $3.20 billion, according to Refinitiv data. E-commerce revenue, which contributes about two-thirds of the company's top-line, grew about 21% to $2.1 billion from a year earlier, but missed expectations of $2.25 billion.

Persons: Edgar Su, Sea's, Shopee, Yuvraj Malik, Krishna Chandra Organizations: REUTERS, Technology, Sea Ltd, Asia's, Revenue, Thomson Locations: Singapore, India, Europe, Bengaluru

☆ Singapore Exchange revises IPO rules for life science firms
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +1 min

A man wearing a protective face mask walks past the Singapore Exchange (SGX) which stays open during "circuit breaker" measures to curb coronavirus COVID-19) in central business district area in Singapore, April 7, 2020. REUTERS/Edgar Su/File PhotoSINGAPORE, Aug 10 (Reuters) - Singapore Exchange Ltd (SGX) (SGXL.SI) is amending its initial public offering (IPO) rules to clarify that life science companies seeking to list on its mainboard exchange do not need to be revenue-generating. The revision was based on a publication of a Listings Advisory Committee's decision on SGX's life sciences listing framework on Thursday. SGX introduced the life science listing framework in 2009, where it waived certain IPO requirements including profitability and revenue for life science companies. The rules under the life science listing framework were not adjusted to reflect 2012 amendments made to the mainboard listing criteria.

Persons: Edgar Su, SGX, Yantoultra, Jason Neely Organizations: Singapore Exchange, REUTERS, Singapore Exchange Ltd, Thomson Locations: Singapore, SINGAPORE

A logo of DBS is pictured outside an office in Singapore January 5, 2016. DBS, which is also Southeast Asia's largest lender by assets, said April-June net profit hit a quarterly record high S$2.69 billion ($2.69 billion) compared to S$1.82 billion a year earlier. DBS' NIM, a key profitability gauge, rose for sixth consecutive quarter to 2.16% during the quarter from 1.58% a year earlier. Return on equity hit new quarterly high of 19.2%, up from 13.4% the same quarter a year ago. ($1 = 1.3411 Singapore dollars)Reporting by Yantoultra Ngui; Editing by Muralikumar Anantharaman and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Edgar Su, NIM, Piyush Gupta, Gupta, Yantoultra Ngui, Muralikumar Anantharaman, Stephen Coates Organizations: DBS, REUTERS, Refinitiv, Thomson Locations: Singapore, SINGAPORE, Hong Kong

☆ North Korea denounces US arms aid to Taiwan as 'dangerous' provocation
▼ + stars: | 2023-08-03 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +2 min

A North Korea flag flutters next to concertina wire at the North Korean embassy in Kuala Lumpur, Malaysia March 9, 2017. REUTERS/Edgar Su/File PhotoSEOUL, Aug 4 (Reuters) - North Korea on Friday criticised a U.S. weapons aid package to Taiwan, state media reported on Friday, accusing the United States of driving tensions in the region to "another ignition point of war". The United States unveiled an aid package for Taiwan worth up to $345 million on Friday as Congress authorised up to $1 billion worth of weapons for the island as a part of the 2023 budget. Taiwan rejects China's sovereignty claims and says only Taiwan's people can decide their future. North Korean leader Kim Jong Un met a Chinese delegation in Pyongyang last week and vowed to develop the two countries' relations to a "new high".

Persons: Edgar Su, Kim Jong Un, Soo, hyang Choi, Gerry Doyle Organizations: North, REUTERS, United, U.S, Thomson Locations: Korea, North Korean, Kuala Lumpur, Malaysia, SEOUL, North Korea, U.S, Taiwan, United States, Yong, China, Beijing, Washington, Taipei, Asia, Pacific, Pyongyang

☆ Marvell founders launch $2 bln chips foundry in Singapore
▼ + stars: | 2023-07-20 | by ( Fanny Potkin | ) www.reuters.com time to read: +1 min

[1/3] Silicon Box's chiplets are displayed during the opening of their advanced semiconductor manufacturing foundry in Singapore July 20, 2023. REUTERS/Edgar SuSINGAPORE, July 20 (Reuters) - Singapore-based Silicon Box opened a $2 billion advanced semiconductor manufacturing foundry in the city-state on Thursday, as it seeks to broaden adoption of "chiplet" technology. Silicon Box was created by the founders of U.S chipmaker Marvell (MRVL.O), Sehat Sutardja and wife Weili Dai, along with current CEO BJ Han. CEO Han told Reuters that "customers had been lining up" even before the factory's launch, with artificial intelligence firms driving demand. He said Silicon Box was in talks to supply Canadian AI startup company Tenstorrent.

Persons: Edgar Su SINGAPORE, Sehat Sutardja, Weili Dai, BJ Han, Han, Fanny Potkin, Sam Holmes Organizations: REUTERS, Singapore's Economic, U.S chipmaker Marvell, Reuters, Thomson Locations: Singapore

☆ Singapore opposition members quit in latest political shake-up
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

[1/5] Workers' Party Chairman Sylvia Lim and Secretary-General Pritam Singh attend a press conference at their headquarters in Singapore, July 19, 2023. REUTERS/Edgar SuSINGAPORE, July 19 (Reuters) - Two senior members of Singapore's largest opposition party quit on Wednesday after admitting to an inappropriate relationship, the latest scandal to hit a country otherwise used to stable and drama-free politics. Seah had also denied the relationship when asked by party leaders at that time, Singh said, adding the pair's behaviour was "unacceptable". Both the WP and the PAP have in the past sacked members for extramarital relationships. Reporting by Chen Lin, Writing by Xinghui Kok, Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

Persons: Sylvia Lim, Pritam Singh, Edgar Su SINGAPORE, Leon Perera, Nicole Seah, Singh, Perera, Seah, Chong Ja Ian, Chen Lin, Xinghui Kok, Kanupriya Kapoor Organizations: Workers ', REUTERS, Workers ' Party, Action Party, National University of Singapore, Thomson Locations: Singapore

[1/2] Supporters of the ruling People's Action Party (PAP) wait for their candidates at a nomination center ahead of the general elections in Singapore September 1, 2015. Analysts said the events may not bode well for the PAP, which has ruled Singapore uninterrupted since 1959. "These events appear to have created some public speculation about the PAP's approach to privilege, restraint, and authority," said National University of Singapore political scientist Chong Ja Ian. Prime minister-in-waiting Lawrence Wong said the government would be forthcoming about the corruption case - even if the information was damaging or embarrassing. But political scientist Walid Jumblatt Abdullah at Nanyang Technological University said Lee had enough political goodwill to ride this out.

Persons: Edgar Su, bode, Lee Hsien, Singapore's, Lee Kuan Yew, Chong Ja Ian, Lee, Lawrence Wong, Iswaran, Chong, Lee's, Walid Jumblatt Abdullah, Gillian Koh, Walid, Wong, Xinghui Kok, Robert Birsel Organizations: Action Party, REUTERS, National University of Singapore, Transport, Nanyang Technological University, Institute of Policy, Thomson Locations: Singapore, SINGAPORE

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