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Archive for the ‘Business’ Category

Why global growth rebound isn’t keeping SIA aloft

(9 May) The global economic recovery may be taking hold, but it hasn’t translated into earnings at Singapore Airlines (SIA) as supply is outpacing demand, the carrier told CNBC. “The developed economies are recovering. We do see, for example, in Europe and the U.S., recovery in demand for travel,” said...

GIC leads $170M investment in Brazil’s sports goods e-retailer

(6 May) Brazilian online sports goods retailer Netshoes has received a new round of $170 million investment led by Singapore’s sovereign wealth fund GIC. Other investors include Tiger Global Management, Singapore state investor Temasek Holdings, Iconiq Capital and Kaszek Ventures, GIC said in a statement. Netshoes...

Tumble in fuel sales adds to evidence of China slowdown

(9 May) Declining demand for ship fuel in Singapore, the merchant fleet’s biggest refueling hub, is signaling weakening prospects for a rebound in Chinese growth. Fuel oil for immediate delivery traded at the biggest discount to later supplies in 16 months on April 28, according to data from PVM Oil Associates Ltd. Sales...

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