logo
Daily roundup: New FairPrice Finest outlet featuring food hall opens in Sembawang — and other top stories today, Singapore News

Daily roundup: New FairPrice Finest outlet featuring food hall opens in Sembawang — and other top stories today, Singapore News

AsiaOne22-05-2025

Stay in the know with a recap of our top stories today.
1. Supermarket meets kopitiam: New FairPrice Finest outlet featuring food hall opens in Sembawang
Heading out for a grocery run could mean a whole different experience for Sembawang residents from now on. With the official opening of the FairPrice Finest outlet at Sembawang Shopping Centre on Thursday (May 22)... » READ MORE
2. Singapore keeps 2025 growth forecast at 0-2%, sees slight boost from US-China truce
The Ministry of Trade and Industry (MTI) has maintained Singapore's economic growth forecast for the year at a range of zero to two per cent, amid encouraging signs of de-escalation in global trade tensions... » READ MORE
3. 'Mixed emotions': Ministers Chan Chun Sing, Desmond Lee and Chee Hong Tat reflect on their Cabinet movements
Following Prime Minister Lawrence Wong's reshuffling of the Cabinet on Wednesday (May 21), Ministers Chan Chun Sing, Desmond Lee and Chee Hong Tat have expressed their thoughts regarding their movements... » READ MORE
4. ICA reviewing PR status of Ian Fang, Lev Panfilov following convictions for sexual offences
The Immigration and Checkpoints Authority (ICA) is reviewing the permanent resident (PR) statuses of actors Ian Fang and Lev Panfilov following their convictions for sexual offences... » READ MORE
editor@asiaone.com

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Singapore stocks rise after Trump-Xi talks; STI up 0.4%
Singapore stocks rise after Trump-Xi talks; STI up 0.4%

Straits Times

time29 minutes ago

  • Straits Times

Singapore stocks rise after Trump-Xi talks; STI up 0.4%

SINGAPORE - The local bourse ended in a positive territory on Jun 6 after a call between US President Donald Trump and Chinese President Xi Jinping boosted investors' confidence. The benchmark Straits Times Index (STI) rose 0.4 per cent or 16.6 points to end at 3,934.29. Across the broader market, gainers beat losers 266 to 205 as 849.5 million securities worth $1.1 billion changed hands. Mr Xi and Mr Trump agreed to further dialogue on trade after their call on June 5. Mr Trump said that disputes over rare-earth exports were resolved, and he had accepted China's invitation to visit. Beijing said it had complied with the terms of last month's trade truce. Mr Trump also reversed his stance on Chinese students, welcoming them to study in the US. Maybank's research team noted in a report on June 6: 'While this may be a positive development for risk, we are also wary that Trump may simply shift his attention to another country instead of China.' The team expects Mr Trump's trade and tax policy to continue swinging the markets, and highlighted that Mr Trump and Mr Musk's feud on social media offset some equity gains from positive US-China trade developments. 'We hold on to selling US dollar on rally alongside fading US exceptionalism, and a weaker NFP (non-farm payrolls) print would reinforce the narrative that US exceptionalism is indeed fading,' wrote the team. On the STI, Sembcorp Industries led the gains, up 3 per cent or $0.20 at $6.85. SIA was at the bottom of the list, down 1.3 per cent or $0.09 at $7.09 on a cum-dividend basis. The trio of local banks ended the day mixed. OCBC was up 0.3 per cent or $0.05 at $16.28. DBS rose 0.2 per cent or $0.10 to $45.12. UOB was down 0.1 per cent or $0.04 at $35.25 on a cum-dividend basis. Regional markets closed mixed on June 6. Japan's Nikkei 225 rose 0.5 per cent, while the Bursa Malaysia Kuala Lumpur Composite Index dropped 0.1 per cent. Hong Kong's Hang Seng Index was down 0.5 per cent. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.

HSBC chair Tucker to return to Asia insurer AIA after overseeing bank overhaul
HSBC chair Tucker to return to Asia insurer AIA after overseeing bank overhaul

Business Times

time38 minutes ago

  • Business Times

HSBC chair Tucker to return to Asia insurer AIA after overseeing bank overhaul

HSBC Holdings' high-profile chairman Mark Tucker will return to the insurance sector as chair of Hong Kong-based AIA Group, after having presided over top management changes and navigated Sino-US tensions at the Asia-focused lender. Tucker will depart HSBC by Sep 30 and will step into the role of AIA chairman on Oct 1, the two companies said in separate statements on Friday (Jun 6). Tucker served as AIA chief executive and president between 2010 and 2017. Brendan Nelson, a former KPMG partner and board member who is the chair of HSBC's group audit committee, would become interim chairman from October 1, as the bank continues with its search for a permanent replacement, it said. Tucker's departure from HSBC, which generates the bulk of its revenues and profits in Asia, will cap an eventful eight-year tenure at the lender, during which he oversaw a sweeping restructuring and shrinking of the bank. Under Tucker's stewardship, HSBC has had to deal with a constant drumbeat of geopolitical tensions, as Britain, together with the US, clashed with China, where the bank has its second home and major profit engine in the financial hub of Hong Kong. Those experiences, as well as his deep Asia and insurance sector expertise, will stand him in good stead in the new role at AIA, as the pan-Asian insurer looks to bolster market share in the key markets of mainland China and Hong Kong. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Tucker will replace Edmund Sze-Wing Tse as AIA's chairman. Shares in AIA were up 1.8 per cent, while Hong Kong shares of HSBC were down 0.3 per cent. Hong Kong's benchmark index was off 0.2 per cent. Besides mainland China and Hong Kong, AIA's 18 markets in Asia include Thailand, Singapore, Malaysia, Australia, Indonesia, New Zealand, the Philippines and South Korea. It also has a joint venture in India. A one-time professional soccer player, Tucker, who took AIA public shortly after his appointment in 2010, has previously held several leadership jobs in the insurance sector, including at Britain's Prudential. Asia pivot Tucker's departure from HSBC was not a surprise. He was nearing the end of the nine-year maximum advised for chair roles under Britain's corporate governance code, and the bank announced on May one that he would step down before the end of the year. Since joining HSBC in 2017, becoming the bank's first-ever externally recruited chairman, British-born Tucker worked with four different CEOs, and he was involved in the selection of three of them. Tucker was seen by investors, analysts and insiders as a key person at the bank to help it navigate geopolitical tensions and expand its business in China as part of its Asia pivot to boost growth. Geopolitical tensions came to a head for HSBC in May 2023 when its then-biggest shareholder, Ping An Insurance of China, lobbied for the bank to spinoff its Asian business, a proposal ultimately defeated at HSBC's annual shareholder meeting. HSBC's senior independent director Ann Godbehere said the selection process to appoint a permanent chairman was underway. Tucker will serve as a strategic adviser to CEO Georges Elhedery and the board while the recruitment search remains in place. 'Brendan's extensive experience on UK-listed boards, and as Group Audit Chair, makes him ideally placed to assume the role on an interim basis while the process continues,' Godbehere said of Nelson. He previously served as an independent non-executive director at several major UK-listed companies, including oil giant BP and financial services firm NatWest. HSBC is expected to search for Tucker's successor from its current board, sources familiar with the bank's plans told Reuters. Among the leading candidates is former Citigroup President Jamie Forese, the sources said. REUTERS

Miniso Group mulls spin-off of its pop toy business
Miniso Group mulls spin-off of its pop toy business

CNA

timean hour ago

  • CNA

Miniso Group mulls spin-off of its pop toy business

Miniso Group said on Friday it was making a preliminary assessment of a potential spin-off listing of its pop toy business operating under the brand, "TOP TOY". The plan is preliminary, with no assurance of the timing, listing venue or other details, the lifestyle products retailer said in a statement. Miniso has hired JPMorgan Chase & Co. and UBS Group AG for a planned initial public offering of the unit, TOP TOY, in Hong Kong, Bloomberg reported on Wednesday, citing sources. The TOP TOY brand saw a 58.9 per cent rise in its March quarter revenue and an increase of 120 net new stores from a year before.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store