Business

Russia's internet crackdown, including restrictions on apps like Telegram and VPNs, severely impacts small businesses. These unpredictable outages threaten digital sales, causing significant inconvenience and financial losses for entrepreneurs across Russia.

Strong US job data has complicated calls for rate cuts, dampening hopes for prospective Fed chair Kevin Warsh. With high inflation persisting and the labor market remaining robust, officials favor holding rates steady rather than cutting them this year.

Amazon Singapore is cutting roles as its business focus shifts from local grocery fulfillment to international product shipments. The company assures affected staff that they will receive support or be redeployed within the firm.

UOB aims to double its wealth management income to at least S$2.5 billion by 2030. Leveraging the completed Citi integration, the bank plans aggressive expansion across Asean's affluent segment for sustainable, long-term growth.

Geopolitical tensions in the Strait of Hormuz caused oil prices to surge past $100/barrel. This energy shock pushed US yields higher, dragging stocks lower. Investors must brace for sustained inflation, potentially reaching 4%.

OCBC's Indonesian unit is acquiring HSBC's International Wealth and Premier Banking portfolio in Indonesia. This major acquisition will boost OCBC Indonesia’s assets under management by an expected 25%. The move strengthens OCBC's presence in Southeast Asia's largest economy.

Artificial Intelligence is rapidly transforming Formula One. Teams are forming numerous partnerships with tech giants to leverage AI for data analysis, race strategy, and operational efficiency. This integration marks a major shift in the sport's technological landscape.

Due to Middle East conflict disruptions, Singapore is sourcing additional LNG from global markets. Authorities are centralizing procurement via Singapore GasCo while pursuing a diversified energy mix, including renewable imports, to stabilize power supply against rising costs.