Singapore

GoTo and its CEO, Andre Soelistyo, are grappling with how to make the superapp and e-commerce company profitable. (Source photos by Getty and Reuters) 
Business Spotlight

Indonesia's GoTo far from profitability one year after listing

Investors shun stock amid sea of red ink, as regional peers' prospects brighten

7 April 2023
Mitsui & Co. hopes to tap demand for medicines in developing Asian countries, which major pharmaceutical companies sometimes pass over due to market size.
Pharmaceuticals

Mitsui & Co. invests in Singapore pharma marketer Wellesta

Trading house sees growth in Asia for drugs already approved in developed world

7 April 2023
Engineers were the most sought-after workers in Singapore, Indonesia and Vietnam, according to a study conducted by Singapore-based staffing platform Glints and Monk's Hill Ventures.
Startups

ASEAN startups face talent crunch despite tech layoffs: study

Early-stage companies compete with enterprises to hire growing pool of job seekers

4 April 2023
QR code payment services are popular in Southeast Asia, where many people do not have credit cards. (Photo by Fumika Sato)
Finance

Singapore and Malaysia link widely used QR code payment systems

Move simplifies cross-border in-person and online transactions

3 April 2023
Analysts point that out that the commercial real estate sector is particularly sensitive to rising rates, weighing on hopes for a revival in the market. (Source photo by AP)
Market Spotlight

From Hong Kong to Japan, commercial property sector faces chill in Asia

REITs could lose out as China reopening hopes fade and interest rates bite

3 April 2023
A truck transports a container at a port in Shandong province, China. Economists expect exports of goods and services to China to support ASEAN economies.
Economy

Thai, Malaysian outlooks improve on tourism, China recovery: JCER

Economists say U.S. bank fallouts emerge as new concern for Asia

2 April 2023
Ledger was founded in 2014 with the goal of becoming a global force in so-called critical digital asset security. (Source photos from Ledger website and Reuters)
DealStreetAsia

Singapore's True Global Ventures invests $24m in crypto company

French startup Ledger offers USB-type wallets for holders of digital assets

1 April 2023
Huawei will expand its support for enterprise clients to test and verify their new businesses at its revamped Singapore lab. (Photo by Tsubasa Suruga)
Telecommunication

Huawei steps up ASEAN foray with Singapore lab revamp

Chinese tech giant invests $20m to upgrade research facility for enterprise clients

31 March 2023
Container ships at the Port of Felixstowe in England. CPTPP members have agreed on Britain's entry into the grouping.
Trade

U.K. accepted as 12th member of CPTPP trade bloc

Group aims to finalize first nonfounding member's accession in July

31 March 2023
The move by GIC may be a sign that the fund is keen to push into business acquisitions in Japan.
Business deals

Singapore's GIC to buy Japan's top HR software developer for $2.6bn

State-owned fund to take about half of Works Human Intelligence shares from Bain

30 March 2023
Japan's NTT Corp. will invest $90 million in a third data center in Bangkok to cater to rising demand from cloud service providers. (Source photos by AP and courtesy of NTT) 
Telecommunication

From Thailand to Indonesia, ASEAN leads cloud market growth

NTT expands data center capacity; AWS commits $6 billion in Malaysia

29 March 2023
A TDCX outsourcing site in Vietnam: The company is setting up new bases in Vietnam and Indonesia to handle growing demand. (Photo courtesy of TDCX)
Companies

ASEAN outsourcing players keep talent with AI and remote work

Labor-intensive industry invents proprietary online tools, moves into microsites

28 March 2023
The landmark Sofitel Brisbane Central has has over 400 rooms. (Screenshot from Sofitel Brisbane Central's website)
DealStreetAsia

Singapore's CDL to buy Brisbane's biggest hotel for $119m

Canada's Brookfield selling Sofitel property in Australian city

25 March 2023
Business travelers' average daily expenditures in Singapore totaled about $515 in 2022, according to a recent study.
Travel & Leisure

Singapore closes gap with Hong Kong on pricey business trips

City-state overtakes Tokyo, now Asia's 2nd costliest with $515 average daily cost

25 March 2023
Hong Kong's reputation as an international finance hub was battered by Beijing's crackdown on dissent and years of punishing COVID-19 curbs that isolated the city.
Business trends

Hong Kong lures wealthy elites and family offices with tax cuts

Revamped migration scheme also planned as city hosts 'Wealth for Good' summit

24 March 2023
Asian investors in Credit Suisse's AT1 bonds are up in arms that they will have to absorb losses ahead of shareholders in the sale of the troubled bank to UBS.
Finance

'Very emotional' Asian AT1 investors look to claw back Swiss losses

Efforts to mount legal challenge come as regulators try to reassure markets

23 March 2023
Castlery was founded in 2013 by co-founder Declan Ee, a Singaporean entrepreneur, and his friends. (Photo by Mayuko Tani)
Consumer

Singapore's Castlery targets gap between Ikea and luxury furniture

U.S. expansion pushes sales sixfold higher than pre-pandemic levels

21 March 2023
Stream article image
Announcements

SGX launches futures on Nikkei Climate 1.5°C Target Index

Offering gives investors ways to help global decarbonization efforts

20 March 2023
Founded in 2015, Livspace offers services including renovation, false ceilings, wall painting and modular kitchens. (Screenshot from Livspace's website)
DealStreetAsia

Asian home interior startup Livspace lays off nearly 2% of staff

Singapore- and India-based company trims workforce of 5,000

20 March 2023
An Ocean Network Express vessel docked at Japan's Nagoya Port. (Photo by Yuki Nakao)
Transportation

Flush with cash, ONE swaps charters for own container ships

World's seventh-largest shipper ramps up investment for future growth

20 March 2023
The funding round values Stripe at around $50 billion, the company says, down from $95 billion in 2021. (Source photos by Reuters)
Finance

Singapore's GIC and Temasek join Stripe's $6.5bn fundraising

Payments giant looks to ASEAN for growth as valuation almost halves

16 March 2023
Founded in 2014, 99 Group has so far raised over $80 million. (Screenshot from 99 Group's website) 
DealStreetAsia

Singapore property tech company 99 Group raises fresh $11m

Real estate portal operator gets money in Series C round extension

16 March 2023
An EHang flying car ferries passengers during a test flight in Japan. (Photo by Toshiki Sasazu)
Aerospace & Defense Industries

China's flying car developer eyes ASEAN aerial tour market

EHang CFO says prior certification at home eases regulatory process abroad

15 March 2023
Traveloka President Caesar Indra says interest is growing in sustainable tourism. (Photo by Tsubasa Suruga) 
Travel & Leisure

Indonesia's Traveloka eyes sustainability demand as tourists return

Online booking unicorn seeks 'quality' partnerships for wider ASEAN market share

13 March 2023
DoubleTree by Hilton Kunming Airport: By 2025, Hilton aims to have 1,000 hotels operating in the Asia-Pacific region. (Photo courtesy of Hilton)
Travel & Leisure

Hilton hopes to reach pre-pandemic occupancy in China by year-end

U.S. hotel chain bets on luxury and entry-level brands for growth in Asia

13 March 2023