Tsubasa Suruga

2 weeks ago | asia.nikkei.com | Tsubasa Suruga

SINGAPORE -- Singapore is expected to downgrade its 2025 economic growth forecast in response to sweeping new U.S. tariffs that threaten to upend the global trading system, Prime Minister Lawrence Wong warned Tuesday. In a 20-minute speech to parliament, Wong said the city-state's gross domestic product growth this year will be affected as trade flows slow. Some multinational companies and local businesses, he said, "have put new projects on hold" to assess the full implications of the tariffs.

1 month ago | asia.nikkei.com | Tsubasa Suruga

SINGAPORE -- City Developments (CDL) Executive Chairman Kwek Leng Beng is ending his lawsuit against his son, CEO Sherman Kwek, marking a step toward mending a deep family rift at the Singaporean property developer. In a statement late Wednesday, the elder Kwek, 84, said the legal proceedings against his 49-year-old son and six other board members "will be discontinued." Both Kweks will continue in their respective roles, and all current directors will remain on the board, he said.

1 month ago | asia.nikkei.com | Tsubasa Suruga

SINGAPORE/BANGKOK -- After three years in Dubai, Japanese investor Tsubasa Yozawa returned last year to what he calls his ideal home in central Bangkok: a 66th-floor Ritz-Carlton residence at King Power Mahanakhon, one of Thailand's tallest skyscrapers. From his perch high above the Thai capital, the 42-year old not only enjoys a panoramic view of the city skyline, but of a booming luxury property market he believes is Southeast Asia's next big thing.

1 month ago | asia.nikkei.com | Tsubasa Suruga

SINGAPORE -- Grab has partnered with four autonomous technology companies from China, the U.S. and South Korea to explore self-driving solutions for its mobility and delivery services across Southeast Asia, the ride-hailing giant announced Monday. The Singaporean company said it has signed a memorandum of understanding with China's WeRide and Zelos, as well as Boston-headquartered Motional and South Korea's Autonomous A2Z.

1 month ago | asia.nikkei.com | Tsubasa Suruga

SINGAPORE -- A Singapore-headquartered startup that produces algae for biofuels has raised nearly $50 million from a group of Japanese investors, as it seeks to scale up its production capacity in Southeast Asia. Chitose Bio Evolution raised 7.3 billion yen ($49 million) from cosmetics maker Shiseido, major banks such as Mizuho Bank and Sumitomo Mitsui Banking Corp., venture capital firm Jafco Asia and others, according to the company's announcement Monday.