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Corby Spirit and Wine Limited has divested its British rum brand, Lamb’s, for the sum of US$39.2 million ($55.5 million) to Canadian and French firms, Phildan and Cofepp, respectively. Lamb’s holds a predominant position among rum brands in the UK and Canada,…
Casella Family Brands (CFB), a renowned name in the beverage industry, has recently formed strategic alliances with Heaps Normal and Four Loko. These partnerships are aimed at expanding and diversifying CFB’s product range, marking a shift from wine to a…
HSBC has announced that it will sell its life and health insurance division in Singapore to Germany’s Allianz. The deal, which values the unit at SGD2.7 billion (US$2.09 billion), is expected to produce a pre-tax gain of US$1.8 billion for HSBC and…
Vicca Ng has been appointed as the Chief Operating Officer (COO) of Hextar Retail, a Malaysian retail conglomerate. Ng’s new role takes effect immediately and she will continue to supervise the group’s retail operations, in addition to serving as an executive…
UK-based sportswear retailer Castore has recently announced its acquisition of the longstanding footwear brand Grenson Shoes. This strategic move is aimed at bolstering Castore’s financial stability and expanding its product portfolio. Embracing Heritage…
Niklas Ostberg, the founder and CEO of Delivery Hero, has announced that he will be stepping down from his executive role after 15 years steering the global food delivery enterprise. The company has initiated a hunt for Ostberg’s successor, aiming to fill the…
Overseas-Chinese Banking Corporation (OCBC) and the Australian High Commission in Singapore have recently launched a five-year strategic alliance aimed at fortifying trade and investment flow between Australia and Southeast Asia. The partnership is designed…
The Malaysian government is currently evaluating a proposal aimed at revising petrol subsidies for the country’s high-income households. This proposition was initially presented roughly four weeks ago and has been under close scrutiny by the respective…
Swedish furniture giant, Ikea, is intensifying its expansion strategy in China by launching a more compact store model in the eastern part of Beijing. This move is part of the company’s shift from its traditional large-scale stores towards smaller and more…
In an effort to establish itself as a leading regional hub for integrated professional services, Singapore is taking significant strides. This endeavor has been demonstrated through a recent formal collaboration between the Institute of Singapore Chartered…
HSBC, the London-based financial institution, recently announced two significant additions to its Chinese wealth management and private banking sector. New Leaders at the Helm Max Xu has been appointed the head of international wealth and premier banking…
The Australian fashion retail giant, Cotton On Group, has announced the shuttering of its regional division, Cotton On Asia. This decision comes in the wake of a resolution passed by shareholders that approved the winding up of the business and the…
DFI Retail Group, a prominent pan-Asian retailer, has confirmed the efficacy of its ongoing strategic alterations, following a successful 2025 fiscal year. The group reported a substantial 35% increase in underlying profits to US$270 million, despite no…
Luckin Coffee, a reputable coffee chain, has disclosed another quarter of impressive double-digit revenue growth. This growth is mainly attributed to the company’s strategic focus on expanding its reach across various regions. Growth Metrics In the fourth…
DoorDash, the leading food delivery platform, has announced the discontinuation of its operations in Singapore and Japan to concentrate on markets with higher priorities. Singapore Shutdown In Singapore, DoorDash will be closing down its Deliveroo service on…
UBS, the banking behemoth based in Zurich, has unveiled its new cohort of managing directors. With a total of 155 appointments, this year’s list is smaller than the preceding year’s, representing an 11% drop from the 174 managing directors appointed last…
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