Business

The market has been thrown into a tailspin as a result of Elon Musk’s recent highly publicized back and forth with Twitter. Despite Twitter’s initial resistance to the business magnate, the two parties ultimately came to an agreement in April that valued US$44 billion. The deal resulted in a premium over the then-current share price of Twitter equal to 38%. …

An official of higher rank stated on Sunday, July 31st, that Indonesia has temporarily unblocked access to the online payment business PayPal in order to permit consumers to retrieve their money. This comes after the country’s suspension of some online services and games resulted in a public outcry. The Indonesian communications ministry disabled PayPal, the website for the search engine …

The cryptocurrency exchange Zipmex, which primarily served Southeast Asia, announced that it had submitted a petition for protection from creditors in Singapore, making it the most recent casualty of the widespread bear market in digital currencies. Last week, Singapore-based cryptocurrency exchange Zipmex restored withdrawals one day after suspending them on the previous Wednesday (July 20). The exchange also stated that …

According to a story that was published in the Platformer tech newsletter on Thursday, Instagram is going to stop developing some features that users have protested against and argued make the social network too similar to TikTok on July 28th. This week, some of the most vocal users who posted messages on social media asked the corporation behind Instagram to …

On Thursday, the Singaporean conglomerate Keppel Corp reported a first-half profit that increased by 66%. This increase was made possible by better earnings across most of its core sectors and a resurgence at its offshore and marine (O&M) arm. Keppel, which can trace its roots back to a modest ship repair yard that was corporatized in 1968, has experienced a …

After cost inflation hurt less than expected and price increases boosted organic sales growth in the first half of 2022, Nestle raised its full-year sales growth forecast to 7 to 8 percent on Thursday, July 28th, and just slightly lowered its margin guidance. The reason for the change was that price increases helped organic sales growth. Although many customers appear …

Puma, a German sportswear manufacturer, revealed results for the second quarter that were greater than expected on Wednesday and boosted its projection for full-year revenue. Puma was able to cope with headwinds in China better than its competitor Adidas. Puma said that its earnings before interest and taxes (EBIT) increased by 34.4 percent for the year to 146 million euros …

Heavy rain disrupted supplies of parts, which raised the possibility that Toyota Motor Corp. could fall short of its global target for the month of July. As a result, Toyota Motor Corp. announced on Wednesday that it would reduce domestic production by approximately 4,000 vehicles during the month of July. According to a statement released by Toyota, the company is …

According to a statement released by the Singapore Food Agency (SFA) on Wednesday, a recall notice was issued for Best One Assorted Cake (banana flavor) and Bake King’s Mixed Fruits on July 27th. The Best One Assorted Cake was found to contain quantities of sorbic acid that much exceeded the maximum permissible level as outlined in the Singapore Food Regulations …

Throughout the month of July, the skyrocketing temperatures in Shanghai, the commercial metropolis of China, have kept Ye Xiangxiang quite busy. According to Ye, the manager of an ice-making factory owned by Shanghai’s Yuhu Ice Company and located on the outskirts of the city, business in 2022 is twice as good as it was in a typical year. “This year, …