.png%3Fitok%3DKYNMBE7u&w=3840&q=100)
Smaller bus operators cash in on surge, bookings doubled
Smaller bus operators are seeing a last-minute spike, with daily bookings to Malaysia doubled. Travellers are also making earlier plans, reserving their seats at least a week in advance and not all due to the upcoming holidays. Four major operators recently had their licenses revoked and amidst the chaos, smaller firms are already starting to reap the benefits.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
3 hours ago
- CNA
Citigroup hires ex-Nomura veteran Kiyota, insider Nagasaka as Japan co-heads for investment banking
Citigroup Inc has hired veteran investment banker Akira Kiyota from Nomura Holdings Inc and promoted insider Taiji Nagasaka as co-heads of investment banking for Japan, it said on Tuesday. The appointments, effective October 1, underscore a push by Wall Street banks to expand their presence in Japan after a rebound in M&A activity and as companies pursue strategic deals in a more favourable interest rate environment. Japan became the largest market for private equity deals in Asia-Pacific last year accounting for 30 per cent of the region's total deal value, largely driven by take-private deals, according to a report by consultancy Bain & Co. That compares to a much smaller figure of 5 per cent to 10 per cent historically. Kiyota has worked at Nomura, Japan's biggest investment bank and brokerage, for over two decades and was most recently senior managing director and global head of mergers and acquisitions. Nagasaka currently serves as Citigroup's Japan head of investment banking products and equity capital markets. In a related move, Masuo Fukuda will assume the expanded role of vice chair for Japan and Asia North investment banking while retaining his existing position as vice chair of Citi Japan.
CNA
3 hours ago
- CNA
Singapore's semiconductor production gets boost with gallium nitride fabrication facility
SINGAPORE: Singapore launched a new gallium nitride fabrication facility on Thursday (Jun 26), as it looks to secure its place as a key player in the global semiconductor space. The National Semiconductor Translation and Innovation Centre for Gallium Nitride – or NSTIC (GaN) – will focus on the emerging semiconductor material gallium nitride, which is crucial for the development of 5G and 6G communications as well as satellite systems. The facility aims to help firms and researchers turn tiny chips into high-impact technology for the global market by offering services such as research and development as well as wafer fabrication. Speaking at the launch, Minister-in-Charge of Energy and Science & Technology Tan See Leng said that it will be the first facility in Singapore to have both 6-inch gallium nitride on silicon carbide and 8-inch gallium nitride on silicon wafer fabrication lines. 'This will position Singapore among the few global hubs capable of producing advanced semiconductors that will power future communication needs – strengthening both national resilience and increasing our global competitiveness,' he added. Dr Tan noted that these two fabrication lines will allow the facility to serve applications of different complexities and specifications, from common consumer products to advanced satellite communications. 'This will support a wide spectrum of the market, from startups to SMEs and MNCs, in their innovation journey,' he added. Dr Tan said that from mid-2026, NSTIC (GaN) will also increase its scope by offering commercial foundry services. Students and researchers will get practical experience in working with this high-performance material, he added, noting that it would help build a skilled talent pipeline to power Singapore's future capabilities in gallium nitride technology. WHAT IS GALLIUM NITRIDE? Gallium nitride is formed by combining the elements gallium and nitrogen into a crystal-like structure. The material can operate at higher voltages and generate less heat compared to traditional silicon semiconductors. Such traits make it an important component for 5G and 6G communications, as well as satellite systems, which will help usher in a new era of efficient and high-performance electronics. The demand for such systems is projected to grow to US$2.7 billion by 2028, said Dr Tan. Professor Ng Geok Ing, executive director of NSTIC (GaN), noted that while gallium nitride is two to three times more expensive than silicon right now, it is expected to be more competitive pricing-wise in five years' time once it hits economies of scale. LOWERING BUSINESS COSTS Startup owners also said the commercial foundry will help them to save on operating costs. The price of gallium had risen to their highest since 2011 after China, which accounts for 98 per cent of global gallium production, banned exports of the critical mineral to the United States last year, among other rare earth elements. Dr Sunil Wickramanayaka, chief executive officer of WaferLead, told CNA that his startup could save between S$6 million and S$10 million on capital investment by working with NSTIC (GaN). 'If you want to make a high-volume production line in Singapore, you need huge capital. But thanks to this NSTIC (GaN) programme, we can share some of the equipment, so we don't need to buy (them),' he said. He added that it would also help launch their products commercially. Prof Ng said that the centre will also boost Singapore's resilience in the semiconductor space by developing its capabilities amid global supply chain disruptions. He added it would be helpful if Singapore is able to produce its own supply of semiconductor material through the facility. 'Recently with the global situation (of) supply chain disruption, (it is good for Singapore) to have this technology to alleviate (these) supply chain issues,' said Prof Ng.
CNA
3 hours ago
- CNA
China's top leaders vow crackdown on price wars as deflation risks mount
BEIJING: China's top leaders pledged on Tuesday (Jul 1) to step up regulation of aggressive price-cutting by Chinese companies, state news agency Xinhua reported, as the world's second-biggest economy struggles to shake off persistent deflationary pressures. Overcapacity among Chinese manufacturers and the price cuts made to clear stock, have sparked price wars that are showing signs of influencing consumer behaviour. Analysts worry this could drive further reductions, raising concerns that deflation may become entrenched and hinder efforts to stabilise the US$19 trillion economy. "Enterprises engaging in disorderly low-price competition must be regulated in accordance with laws and regulations," Xinhua quoted a meeting of the Central Financial and Economic Affairs Commission as saying. The commission is a top economic policy body of the ruling Communist Party and is chaired by President Xi Jinping. "Businesses should be guided to improve product quality and support the orderly phasing out of outdated production capacity," the Xinhua report added. Data showed on Monday that manufacturers were slashing prices to attract buyers, as US President Donald Trump's tariff onslaught threatens the long-term viability of selling to the United States, the world's top consumer market, and domestic demand remains weak. While new orders edged up, factory gate prices remained in the doldrums, the data showed, suggesting that the economy risks getting stuck in a cycle of ever-lower prices. A front-page editorial published on Sunday in the Communist Party's official newspaper, People's Daily, drew significant attention for its call for China's economy to "break free from 'rat race-style' competition" among firms. The article concluded that relentless price-cutting fostered destructive competition that defied economic principles and had clear negative economic consequences.
