Bloomberg Temasek Holdings Pte denied speculation that Chief Executive Officer Ho Ching makes S$100 million ($70 million) a year. “This claim is false,” the Singapore state investor said in a rare statement addressing the pay of the top executive, who’s also Prime Minister Lee Hsien Loong’s wife. “Furthermore, Ho Ching’s annual compensation is neither the highest within Temasek, nor is ...

Bloomberg China’s catering industry was one of the biggest drags on output in the first quarter, leading the world’s second-largest economy into its first contraction in decades as the coronavirus brought business to a near standstill. The accommodation and catering industry fell 35.3% from a year earlier, reversing a 6.2% increase in the previous quarter, the statistics bureau said in ...

Bloomberg Singapore’s exports unexpectedly surged in March from a low base in the previous year, despite disruptions to global supply chains as the coronavirus spread across the world. Non-oil domestic exports, known as NODX, grew 17.6% in March from a year ago, the highest since October 2017, according to data published by Enterprise Singapore. The median estimate in a Bloomberg ...

Bloomberg Japanese mobile carriers NTT Docomo Inc and SoftBank Corp said they will delay their launches of Apple Inc’s new iPhone SE model until May 11 instead of the scheduled April 27 amid the coronavirus outbreak. Japan’s government expanded the area covered by its state of emergency declaration to the whole nation last week and is calling on citizens to ...

Bloomberg Cafes bustled with customers, parks teemed with sunbathers, and the first Apple store to reopen outside China had lines snaking out the door as many South Koreans — almost all wearing masks — emerged from months of self-isolation. The scene in Seoul on a picture-perfect weekend contrasted sharply with other nations where major cities look like ghost towns as ...

Bloomberg India recorded its largest daily spike in coronavirus cases, adding 1,400 new infections to its tally of more than 16,000 amid a nationwide lockdown that’s about to enter its fourth week. The South Asian nation’s cases have been surging over the last week as it gradually scales up its testing capacity. Confirmed infections are up 78% to 16,365 on ...

Bloomberg Mexico’s Pemex has too much gasoline and nowhere to store it, potentially racking up significant ship fees as demand wanes because of the fast-spreading coronavirus. A lack of storage capacity in Mexico is forcing the state-owned oil company to leave its fuel purchases in ships off the coast of Mexico, according to three people familiar with the situation and ...

Bloomberg A dozen Chinese anthracite coal miners have called on the industry to slash production by 10% from current levels amid weak demand caused by the coronavirus outbreak. While anthracite coal output is now back at last year’s levels, demand recovery has lagged, leading to a “severe mismatch” in market fundamentals, according to a statement published on the website of ...

Bloomberg While most commodities are getting hammered by the coronavirus crisis, uranium prices are skyrocketing. The radioactive metal used in nuclear fuel has climbed 31% this year, making it the world’s best-performing major commodity. The gains have been spurred by mine shutdowns that have wiped out more than a third of annual global output at a time when demand from ...

Bloomberg The son of the legendary oil trader and founder of Hin Leong Trading (Pte.) Ltd said the Singapore-based company had suffered about $800 million in losses from futures trading that weren’t reflected in its financial statements, according to people with knowledge of the matter. Lim Chee Meng, the only son of Lim Oon Kuin, said he was unaware of ...