Tag: Business
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Hong Kong insurers’ shares slump on report China to tax offshore insurance income
Chinese mainland tax authorities have reportedly started levying personal income tax on returns from offshore insurance policies, the latest sign of greater scrutiny of offshore investments.
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Yen and dollar drift on Iran deal concerns, payroll jitters
HONG KONG, Aug 6 : Currency markets drifted on Thursday with the yen struggling to retain intervention gains and the dollar pinned near six-week lows, as concerns about a proposed U.S.-Iran deal and jitters about upcoming U.S. payroll data left traders cautious. The yen was little changed at 157.71 per dollar
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Bain Capital to buy bubble tea chain Gong cha from TA Associates and others
Aug 6 : Bain Capital said on Thursday it will acquire bubble tea chain Gong cha from TA Associates and other shareholders, extending the U.S. private equity firm’s push into food and beverage investments.Here are some more details:• Bain Capital did not disclose the value or terms. Reuters reported i
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Fitch says Vietnam banks likely to face significant pressure from government growth target
HANOI, Aug 6 : Fitch Ratings said on Thursday that Vietnam’s banking system is likely to come under under significant pressure to finance and support the economy due to government efforts to attain double-digit growth in 2026. Banks in Vietnam remain more vulnerable to external shocks than their neighbours
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Bank of Japan’s ETF holdings may help fund tax cut, LDP executive says
TOKYO, Aug 6 : Tapping the Bank of Japan’s holdings of exchange-traded funds (ETF) may be an option to fund a planned sales tax cut, a ruling party executive said in a recent online programme, a sign its vast asset holdings could come under the political spotlight.The government on Wednesday signed off on Pri
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Oil prices slip as Iran-Oman talks fuel hopes for US-Iran peace deal
TOKYO, Aug 6 : Oil prices slipped on Thursday as investors assessed whether progress in Iran-Oman talks could pave the way for a U.S.-Iran peace deal to end the five-month war and reopen the Strait of Hormuz. Brent crude futures fell 37 cents, or 0.5 per cent, to $79.08 a barrel by 0024 GMT. U.S.…
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Asia shares ease on tech pullback, oil stable as Iran talks stay in focus
TOKYO, Aug 6 : Asian shares took a breather on Thursday after an AI-driven surge the previous day, while oil prices traded in a tight range as markets assessed prospects for an Iran peace deal.MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.69 per cent, led by declines in tech firms. South K
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Meta AI model hacks another company during testing
Aug 5 : Meta said on Wednesday that one of its AI models hacked another company during cybersecurity testing, after an error by its testing partner gave the model unintended internet access.The incident adds to a growing list of cases in which AI agents from major developers breached systems at other companie
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DBS posts record Q2 profit, raises 2026 guidance
The Singapore bank declared S$0.81 in dividends per share for the second quarter of 2026.
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South Korea says the chance of 3% economic growth has risen sharply
SEOUL, Aug 6 : South Korea’s Finance Ministry said on Thursday that the possibility has increased greatly of economic growth rising to the 3 per cent level for the first time in five years.Last month, the finance ministry raised this year’s economic growth forecast to 3.0 per cent from 2.0 per cent. The econo
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