The trucking industry is worth hundreds of billions of dollars per year. Uber is going after this market with Uber Freight, an online platform that matches truckers with...Technologyread more
Drone strikes attacked an oil processing facility at Abqaiq and the nearby Khurais oil field on Saturday.Marketsread more
Trump said oil would be released if needed to keep the market well supplied and he would expedite the approval of pipelines in Texas and other states.Marketsread more
Saudi Aramco is aiming to restore by Monday about a third of its crude output that was disrupted after drone attacks on two key oil facilities, The Wall Street Journal...Marketsread more
Apple's new iPhones can still send texts, download apps, and make video calls, but the company spends a lot of time and effort marketing its new phones as powerful photography...Technologyread more
Some U.S. manufacturers say tariffs, if targeted, will help address longstanding unfair trade practices like intellectual property theft.Traderead more
Supporters of a $15 minimum wage ballot initiative in Florida argue the state's inflation-tied pay hikes have not gone far enough.2020 Electionsread more
Saudi Arabia shut down half its oil production Saturday after drone strikes hit the world's largest oil processing facility in an attack claimed by Yemen's Houthi rebels.Politicsread more
Trusii's hydrogen water machines were supposed to help users with their health problems, but customers claim the company is involved in a giant scam.Technologyread more
The decoupling of the world's two weightiest economies seems as inescapable as its extent and global impact remains incalculable.Politicsread more
BlackBerry has reinvented itself to become a leader in securing mobile communications and in embedded communications. Next year it plans to roll out new products. CEO John...Evolveread more
Major Asian real estate developer CapitaLand said on Monday it has entered into an agreement to buy two wholly owned units from Ascendas-Singbridge, a subsidiary of Singapore state investment firm Temasek, in a cash and stock deal.
If the deal is approved, the new entity would become Asia's largest diversified real estate group, according to CapitaLand.
Its combined assets under management would exceed 116 billion Singapore dollars ($85.79 billion), which would put the firm among the top 10 real estate investment managers globally, CapitaLand said.
For its part, Temasek will receive about 3 billion Singapore dollars ($2.2 billion) in cash and another S$3 billion in new CapitaLand shares.
The move would give CapitaLand a "chance to be able to gain access to interesting asset classes in the new economy sectors that are driven by technology and e-commerce," Lee Chee Koon, president and group CEO, told CNBC's "Squawk Box" Monday morning.
"Assets like industrial, logistics/business parks — these will add a new excitement to the asset classes that CapitaLand is traditionally strong at, which are shopping malls, offices, residential and service apartments," he added.
Lee added that the deal would increase CapitaLand's options in places such as the United States, Europe and India, allowing the company to scale up and diversify its investments globally. The acquisition is projected to expand the company's presence to more than 180 cities across 32 countries.
The targets of the deal — Ascendas and Singbridge — are the holding companies for Ascendas-Singbridge Group's business, which includes managing Ascendas Real Estate Investment Trust, Ascendas India Trust and Ascendas Hospitality Trust.
Once the deal closes, Temasek's ownership of CapitaLand is set to increase from 40.8 percent to about 51 percent.