Rounding up top investing articles from around the web, including articles shared on Twitter.
Qoo10 under Singapore police probe as vendors lodge reports over delayed payments (Straits Times)
Singapore-headquartered e-commerce platform Qoo10 and its logistics subsidiary Qxpress are under police investigations, following complaints by vendors about delayed payments of thousands of dollars each and disruptions to deliveries by Qxpress.
In response to queries from The Straits Times, the Singapore Police Force said on Sept 12 that reports were lodged against Qoo10 and Qxpress, and that they are investigating.
Qoo10, which is backed by the likes of private equity firm KKR and e-commerce giant eBay, did not respond to ST’s requests for comments. Both KKR and eBay declined to comment.
Vendors told ST that Qoo10, which also has operations in Malaysia, Indonesia, Japan and Hong Kong, has failed to pay them on time.
A spokesperson for a haircare retailer, which declined to be named, said Qoo10 owes the company nearly $32,000. He added that the retailer removed its listings from the platform on Sept 12.
What the ‘fish milk’? Prabowo’s free meals for Indonesian students’ proposed milk substitute sparks controversy (CNA)
A proposal to replace cow’s milk with “fish milk” in Indonesia’s upcoming free meals programme for students has fed online debate among Indonesians and caused a stink with some nutrition experts.
The signature 71-trillion rupiah (US$4.6 billion) “free nutritious food for children” programme, touted by president-elect Prabowo Subianto and vice-president-elect Gibran Rakabuming Raka during their campaign as a solution to eradicate child stunting, will be rolled out once they take office in October.
The “fish milk” in question actually refers to a food product processed from fish protein.
The drink is made by processing fish protein hydrolysate to produce a protein drink with high nutritional value similar to milk from mammals.
It is available in various flavours such as chocolate and strawberry without a fishy taste.
Singaporeans will need ETA permit to enter the UK from Jan 8, 2025 (Straits Times)
Singaporeans heading to the UK are required to apply for and obtain an Electronic Travel Authorisation (ETA) before making their trip from Jan 8, 2025.
Application for the digital travel permit costs £10 (S$17). Singaporeans can apply for it from Nov 27 via the official British government website or app.
The ETA – which will be digitally linked to an individual’s passport – is valid for two years, allowing multiple short visits lasting up to six months per visit.
It generally takes three days to process an ETA application, according to the UK ETA website. Travellers will be informed via e-mail if their application is approved or rejected.
UK leads resurgence in European office investment (CNBC)
- The U.K. is leading a recovery in Europe’s long subdued office real estate market, with overall investment in the sector expected to pick up further in the second half of the year.
- Ireland, the Netherlands and southern Europe are also showing momentum, according to Savills, while France and Germany continue to struggle.
- Occupancy rates remain a concern, with a divide emerging between highly amenitized properties with green credentials and those without.
UK regulator finds Vodafone and Three merger would lead to price rises, seeks remedies for deal (CNBC)
- Britain’s competition watchdog on Friday said it found competition concerns with the proposed merger between Vodafone and the Three UK mobile network owned by CK Hutchison.
- The U.K. Competition and Markets Authority (CMA) said the deal would lead to price increases for tens of millions of customers or see some users get reduced services.
- Vodafone said it disagrees with the CMA’s findings that prices for customers will increase and said that it is ready to make a promise of an £11 billion investment legally binding.
Saudi Arabia expects to get access to Nvidia’s high performance chips ‘within the next year’ (CNBC)
- Saudi Arabia is optimistic about gaining access to U.S. chipmaker Nvidia’s high-performance chips, which would enable it to develop and operate the most advanced artificial intelligence models.
- It “will mean a lot,” for Saudi Arabia to have access to the chips, Habib said — in this case, the Nvidia H200s, the firm’s most powerful chips.
- The U.S. has imposed a number of restrictions on exports of the chips out of national security concerns that they could be accessed by China, which is Saudi Arabia’s top trading partner.
Samsung shares fall as workers’ strike at India plant continues after talks fall through (CNBC)
- Shares of Samsung Electronics fell over 3% on Friday, as workers at its southern Indian plant continue to strike, disrupting production at its consumer electronics unit for a fifth day.
- Hundreds of workers have been on strike since Monday as they ask Samsung to recognize their union, raise wages and reduce working hours.
- It is one of the biggest such strikes in recent years in India.
U.S. firms say confidence in China has hit an all-time low (CNBC)
American companies in China are experiencing historically low business confidence and poor profits amid U.S.-China tensions and a slowing Chinese economy.
In an annual report released Thursday, the American Chamber of Commerce in Shanghai found that out of the 306 of its member companies surveyed, only 66% were profitable in 2023, the lowest level on record.
China’s slowing economy was listed as the top reason for members’ decreased investment. Meanwhile, the strained relationship between Washington and Beijing as well as geopolitical tensions were seen as the biggest challenges to both their business operations and the Chinese economy at large.
Saving lives in a disaster: Singapore sets up emergency medical team certified by WHO (Straits Times)
The next time a major earthquake or cyclone hits the region, Singapore will be able to deploy a World Health Organisation (WHO)-certified emergency medical team (EMT) within 72 hours.
To qualify as a WHO EMT, the team has to be fully self-sufficient during its deployment.
This means that the EMT must generate its own electricity and clean water, manage all its medical and waste disposal, and arrange its own accommodation.
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