Iconic Singapore club Zouk is being sold for an undisclosed sum to Genting Hong Kong (GHK), which operates the popular Star Cruises. The wildly popular Zouk brand could be headed for more overseas expansion under its new owner, given the group's casinos, cruise ships, hotels and other entertainment properties around the world.
Changi Airport Group's chief executive officer Lee Seow Hiang was named this year's CNBC Travel Business Leader Award winner. Mr Lee received the award in recognition of his achievement in growing passenger traffic at Changi Airport by almost 50 per cent to 54 million passengers in 2014 as well as growing commercial revenues by 9.5 per cent per annum.
The yuan has taken over the Japanese yen to become the fourth-most used currency in the world as of August, according to the Society for Worldwide Interbank Financial Telecommunications.
China will look to push out tax breaks, introduce financial incentives and streamline approval processes for infrastructure projects seeking private investment, state media reported, as Beijing looks to drum up so far tepid interest for such schemes.
Credit Suisse will raise about 6.05 billion Swiss francs (S$8.81 billion) of capital as part of a strategic overhaul that will also see the initial public offering of its Swiss banking unit. Credit Suisse also plans to save 3.5 billion francs by the end of 2018 on a gross basis. Six new members will join the executive board.
Ferrari, the inimitable Italian luxury sports car maker, garnered a rich US$10 billion (S$13.91 billion) valuation on Wall Street on Tuesday (Oct 20) as its initial public offering went out at US$52 a share.
Uber Technologies chief executive Travis Kalanick said about 30 per cent of the ride-hailing company's trips now take place in China, underlining how important the world's second-biggest economy is to Uber's global growth ambitions.