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Reliance says KKR to invest $755.1 million in retail arm
Companies

Reliance says KKR to invest $755.1 million in retail arm

  • KKR's investment will translate to a 1.28% stake in Retail Ventures Ltd, according to Reliance. Reliance, controlled by Asia’s richest man Mukesh Ambani has been looking to expand rapidly online to take on the likes of Walmart Inc’s Flipkart and Amazon.com Inc’s Indian arm.
Published 23 Sep, 2020 09:57am
Moderna sees 20mn doses of COVID-19 vaccine candidate by year end
Companies

Moderna sees 20mn doses of COVID-19 vaccine candidate by year end

  • Vaccines and treatments are seen as essential in controlling the COVID-19 pandemic that has shown no signs of slowing and killed over 944,000 people worldwide.
  • A handful of vaccines, including those from Pfizer Inc and AstraZeneca, are also being tested in large studies.
Published 18 Sep, 2020 09:01pm
Malaysia's Petronas pays $700mn in taxes to Sarawak state
Companies

Malaysia's Petronas pays $700mn in taxes to Sarawak state

  • The payment comes just two weeks after Petronas reported its first quarterly loss in nearly five years due to a coronavirus-related demand slump and lower oil prices.
  • The Sarawak state is run by a close political ally of premier Muhyiddin Yassin, who sources have said is open to giving more oil money to the state.
Published 17 Sep, 2020 07:16pm
Lilly, Amgen partner to manufacture potential COVID-19 drugs
Companies

Lilly, Amgen partner to manufacture potential COVID-19 drugs

  • Antibody treatments work by recognizing and locking onto foreign invaders to prevent infection of healthy cells.
  • We are impressed with Lilly's data, in particular the reduction in hospitalizations, and are enthusiastic about the potential for these neutralizing antibodies as a therapeutic for COVID-19.
Published 17 Sep, 2020 06:23pm
Ferrari unveils modified version of Portofino bestseller
Companies

Ferrari unveils modified version of Portofino bestseller

  • The new car, the first to be launched since the Italian sportscar maker temporarily shut down operations during a COVID-19 lockdown.
  • The Portofino M convertible features a redesigned powertrain, eight-speed gearbox and a five-position Manettino switch that includes a race mode.
Published 16 Sep, 2020 07:18pm
Alibaba in talks to invest $3bn in Grab
Companies

Alibaba in talks to invest $3bn in Grab

  • Uber, which surrendered its Southeast Asian operations to Grab in March 2018, took a 27.5 percent stake in Grab's business.
  • In June, Grab announced a 5% reduction in staff numbers as it cut costs amid slower growth.
Published 14 Sep, 2020 05:14pm