Daily Debrief: What Happened Today (Sep 17)
Stories you might have missed
The US Federal Reserve has resumed rate hikes, which may offset one of the most significant earnings challenges faced by Singapore's banks. Nonetheless, experts anticipate the advantages to have a more substantial impact starting in 2027. Property industry expert Desmond Sim has stepped down from his dual positions as group chief executive of Realion and CEO of ETC. According to an internal memo, his final day of service will be October 31, 2026.
Acting Minister for Manpower Jasmin Lau emphasized that despite the emergence of anti-AI emotions among employees and younger students, such sentiments should not be dismissed. Analysts are generally on board with Grab's phased US$1.5 billion acquisition of regional buy-now-pay-later platform Atome Financial. They view this move as a strategic shortcut to expand digital lending across Southeast Asia, even though the financial returns are expected to materialize at a later time.
In Malaysia, the focus extends beyond data centers to a broader pursuit of a larger share in the AI economy. This includes acquiring key components like chips, cooling systems, and specialized hardware driving the regional tech boom.
Singtel has been selling a quarter of its special discounted shares ahead of the Central Provident Fund (CPF) Board's transfer of these shares to individual accounts. The transaction is set to take place on November 21.
In the realm of entrepreneurship, Vietnam's richest man is stepping back from the Vingroup empire to entrust certain responsibilities to his sons. Beyond this, companies like Chagee, Mixue, and Luckin have managed to maintain their competitive edge, but sustaining this advantage poses a significant challenge.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
