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LG Electronics India surged 50.4 per cent in its trading debut on Tuesday and notched a valuation of $13.07 billion, eclipsing its South Korean parent’s market capitalisation, as investors piled into the country’s most bid-for IPO since 2008.Shares of the Indian arm of LG Electronics made a strong debut on the National Stock Exchange of India, opening at 1,710.10 rupees and rising to 1,714.90 rupees, well above the issue price of 1,140 rupees.The debut valued the company above its $8.73 billion target and its South Korean parent’s roughly $9 billion market cap.It also put the firm ahead of its India-listed…

Economists lift 2025 forecasts, but caution over cooling momentum and external headwinds in 2026[SINGAPORE] The Republic’s economy is on track to deliver full-year growth close to its potential path, after third-quarter gross domestic product (GDP) showed unexpected resilience and surpassed market expectations.Singapore’s economy grew 2.9 per cent year on year (yoy) in Q3, slowing from the previous quarter’s 4.5 per cent, advance estimates from the Ministry of Trade and Industry showed on Tuesday (Oct 14). Nevertheless, the Q3 performance beat the median forecast of 2 per cent growth projected by private-sector economists polled by Bloomberg.

Wage growth in the private sector slowed to 4.4% in the three months through August[LONDON] The UK labour market showed further signs of stabilisation in data released on Tuesday (Oct 14), with employers appearing to be past the worst of the shake-out triggered by a £26 billion (S$44.8 billion) payroll tax increase.The number of employees on payrolls dropped 10,000 in September following a revised increase of 10,000 the month before, the Office for National Statistics said. It was in line with the fall economists had predicted and less sharp than the cuts seen over the summer.Meanwhile, wage growth in the…

NEW YORK — NEW YORK (AP) — Hundreds of federal employees working on mental health services, disease outbreaks and disaster preparedness were among those hit by the Trump administration’s mass firings over the weekend, current and laid-off workers said Monday, as the administration aimed to pressure Democratic lawmakers to give in and end the nearly two-week-long government shutdown.The government-wide reduction-in-force initiative that began Friday roiled the massive U.S. Department of Health and Human Services just six months after it went through an earlier round of cuts and as many staffers already were disconnected from work because of the shutdown. The…

DPM Gan says that Johor-Singapore SEZ shows what nations achieve by choosing partnership over protectionism[SINGAPORE] Companies based in the Republic committed more than S$5.5 billion worth of investments into Johor, since the agreement to finalise a deal to set up the cross-border special economic zone between the neighbouring countries was inked in January last year. The figure was revealed on Tuesday (Oct 14) at the second Johor-Singapore Special Economic Zone (JS-SEZ) joint investment forum. The first meeting took place in Johor Bahru in April. For reference – though not a direct comparison – Johor drew in more than 104.5 billion…

The Indian state of Andhra Pradesh aims to host 6 gigawatts of data centre capacity by 2029[NEW DELHI] Alphabet’s Google aims to invest about US$15 billion building an AI infrastructure hub in southern India over the next five years, making its biggest bet on the fast-growing country.The US company outlined plans on Tuesday (Oct 14) for a data centre in the port city of Visakhapatnam linked to new energy sources and a fibre-optic network. Google’s biggest investment in India to date, the project will anchor the regional government’s plan to accelerate the AI industry locally, the US company said in…

Swedish telecoms equipment maker Ericsson reported a better-than-expected rise in quarterly earnings on Tuesday and played down the impact of U.S. tariffs.Adjusted earnings before interest and taxes (EBIT) excluding restructuring charges were 15.4 billion Swedish crowns ($1.62 billion) in the quarter ended in September. That was 9.2 per cent higher than the 14.1 billion crowns forecast in an Infront consensus poll of analysts provided by the company.Cost savings and a dominant position in North America have helped Ericsson stay ahead of Nordic rival Nokia in the 5G race, but revenue weakness and tariffs have overshadowed its outlook.The Swedish group has…

Prakash Singh | AFP | Getty ImagesGoogle will invest $10 billion into building new data centers in southern India, according to local officials, marking one of its largest investments in the South Asian nation as tech giants scramble to meet the exploding demand for AI. Minister for Human Resources Development of the Indian state of Andhra Pradesh, Nara Lokesh, announced Monday that Google and his government will sign a memorandum for a 1 gigawatt project in the state with an investment of $10 billion. The deal — to be signed Tuesday — comes after “a year of intense discussions and relentless effort,”…

The moves are a marked escalation in a long-standing dispute between the world’s two largest economies over maritime dominance[HONG KONG] China has threatened further retaliatory measures against US curbs on its shipping sector, after sanctioning American entities of a South Korean shipping giant.The Ministry of Commerce said on Tuesday (Oct 14) that it was placing limits on five US entities of Hanwha Ocean, one of South Korea’s biggest shipbuilders. The company’s shares dipped as much as 8 per cent in Seoul, their biggest decline in about two months.The moves are a marked escalation in a long-standing dispute between the world’s…

NEW YORK — NEW YORK (AP) — Cabinet dealers, interior designers and remodeling contractors in the U.S. hope new tariffs on imported kitchen cabinets, bathroom vanities and upholstered wooden furniture that kicked in Tuesday will create more business for them and eventually boost domestic production of those products.But several small business owners in the home improvement industry say they expect some short-term pains from the import taxes: Clients with projects already on the books might balk at having to pay more for the budget-priced cabinets they selected. Potential customers may postpone kitchen and bathroom renovations until costs — and the…