13 minutes ago
Samsung sees phone market shrinking again after 2022 woes
SAMSUNG Electronics, the world’s biggest smartphone maker, expects the smartphone market to contract in 2023.
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
27 minutes ago
Australian dollar sideswiped by dire data, still up on month
THE Australian dollar wobbled on Tuesday after data showed retail spending took a shock tumble in December and likely dragged on economic growth, trimming expectations for how much further interest rates might have to rise.
32 minutes ago
Foreigners scoop up China shares with January inflow at record
FOREIGNERS are returning to China’s stock market with a vengeance, snapping up more shares in January alone than they did for the whole of 2022.
40 minutes ago
FTX sues Voyager Digital to claw back $446 million in 2022 loan payments
NEW YORK: Bankrupt crypt exchange FTX sued crypto lender Voyager Digital on Monday, seeking to claw back $445.8 million in loan repayments that FTX made before collapsing into bankruptcy in November 2022.FTX and Voyager both filed for bankruptcy amid a 2022 collapse in cryptocurrency markets, but Vo ...
40 minutes ago
FTX sues Voyager Digital to claw back US$446 million in 2022 loan payments
NEW YORK: Bankrupt crypt exchange FTX sued crypto lender Voyager Digital on Monday, seeking to claw back $445.8 million in loan repayments that FTX made before collapsing into bankruptcy in November 2022. FTX and Voyager both filed for bankruptcy amid a 2022 collapse in cryptocurrency markets, but V ...
47 minutes ago
For ASEAN countries, IMF sees slower global growth outweighing China reopening
SINGAPORE : International Monetary Fund's chief economist said on Tuesday that Singapore and other Southeast Asian economies are seeing downgrades to their 2023 growth outlooks because slowing global growth will outweigh the positive impact from China's economic reopening. Pierre-Olivier G ...
60 minutes ago
Central banks told to keep rate hiking until inflation all-clear
GLOBAL central banks mustn’t let up on raising interest rates until it’s absolutely clear that inflation is durably retreating, according to a senior International Monetary Fund (IMF) official.
1 hour ago
Nissan shares rise after overhaul of Renault alliance
TOKYO :Shares of Nissan Motor Corp rose in morning trade in Tokyo on Tuesday, after the Japanese automaker and its French partner Renault SA announced a sweeping overhaul of their two-decade-old alliance putting them on equal footing.Nissan shares climbed as much as 3.1 per cent in early trade befor ...
1 hour ago
Chinese industrial profit contracts in 2022 on COVID woes
BEIJING : Profit at China's industrial firms in 2022 fell 4 per cent from a year earlier, official data showed on Tuesday, squeezed by the impact of strict COVID-19 containment measures and a slump in the property market.At 8.4 trillion yuan ($1.24 trillion), the decline compared with the 3.6 p ...
1 hour ago
Asian stocks slip as investors eye central bank hikes
Asian shares traded cautiously and bonds nursed small losses on Tuesday as investors braced for an eventful week that includes central bank meetings, a slew of earnings reports and key U.S. economic data.Investors broadly expect the U.S. Federal Reserve will raise interest rates by 25 basis points ( ...
1 hour ago
China economic activity swings back to growth in January - official PMI
BEIJING : China's economic activity swung back to growth in January, official data showed on Tuesday, after a wave of COVID-19 infection passed through the country faster than expected following abandonment of pandemic controls.The official purchasing managers' index (PMI), which measures ...
1 hour ago
Oil steadies after falling on rate hike worries, Russian crude flows
Oil prices steadied in early Asian trade on Tuesday after falling by more than 2 per cent in the previous session on the threat of further interest rate hikes and continued Russian crude flows. Brent crude futures gained 28 cents to $85.18 per barrel by 0155 GMT, while U.S. West Texas Intermediate ( ...
1 hour ago
Emerging markets growth slowdown bottomed out in 2022, but risks remain - IMF
NEW YORK : The International Monetary Fund on Monday raised its output growth estimate on emerging markets for this year, with projections now showing the economic slowdown in the region may have bottomed out in 2022, on the back of China reopening, a resilient India and unexpected growth in Russia. ...
2 hours ago
How the ‘Madoffs of Manhattan’ can unravel Gautam Adani’s empire
Shuli Ren - THE bitter battle between the Adani Group and Hindenburg Research is heating up. In a rebuttal to Hindenburg’s claim that Indian tycoon Gautam Adani has overseen the “largest con in corporate history”, the company took on a dramatic tone, calling the New York-based research outfit the “Madof ...
2 hours ago
IMF raises world economic outlook for the first time in a year
Bloomberg - The International Monetary Fund raised its global economic growth outlook for the first time in a year, with resilient US spending and China’s reopening buttressing demand against a litany of risks.Gross domestic product will likely expand 2.9% in 2023, 0.2 percentage point more than forecast in O ...
2 hours ago
China January factory activity rebounds - official PMI
BEIJING : China's factory activity rebounded in January, expanding for the first time since September 2022, official data showed on Tuesday, as the "exit wave" from zero-COVID passed through the population and production lines faster than expected.The official manufacturing purchasing ...
2 hours ago
China non-manufacturing activity rebounds in January - official PMI
BEIJING : China's non-manufacturing activity broke into expansion territory for the first time since September 2022, official data showed on Tuesday, as consumption and travel recovered over the Lunar New Year holiday after the lifting of pandemic curbs.The official non-manufacturing purchasing ...
2 hours ago
IMF lifts 2023 growth forecast on China reopening, strength in US, Europe
WASHINGTON: The International Monetary Fund on Tuesday (Jan 31) raised its 2023 global growth outlook slightly due to "surprisingly resilient" demand in the United States and Europe, an easing of energy costs and the reopening of China's economy after Beijing abandoned its strict COVI ...
2 hours ago
Singapore stocks fall at Tuesday’s open; STI down 0.3%
Bernadette Toh - SINGAPORE stocks fell in early trade on Tuesday (Jan 31) following losses in US and Europe markets.
2 hours ago
Dollar set for fourth monthly drop as Fed meeting looms
SINGAPORE : The dollar was eyeing a fourth monthly loss on Tuesday as investors reckon a peak in U.S. interest rates could swing into view as soon as this week's Federal Reserve meeting.Currency trade was subdued in the lead up to Wednesday's Fed rate decision, and ahead of Bank of England ...
2 hours ago
Gold prices flat as investors await Fed rate decision
GOLD prices were flat on Tuesday (Jan 31), as market participants held back from making large bets ahead of the US Federal Reserve policy decision.
2 hours ago
China foreign minister seeks stronger economic ties with Saudi Arabia
BEIJING : China's new foreign minister Qin Gang wants to build stronger ties with Saudi Arabia and set up a China-Gulf free trade zone "as soon as possible", according to a ministry statement published late on Monday.Qin, who was just recently named to the position, made the suggestio ...
2 hours ago
Cromwell E-Reit reports 1.6% portfolio valuation decline for FY2022
Chelsea Ong - CROMWELL European Real Estate Investment Trust (Cromwell E-Reit) on Tuesday (Jan 31) reported a total portfolio valuation of about €2.5 billion (S$3.6 billion) for FY2022 ended Dec 31, 2022, after taking into account valuation increases on properties under development in Italy and Czech Republic.
2 hours ago
Japan Finance Minister: Too early to consider reviewing gov't-BOJ inflation statement
TOKYO : Japanese finance minister Shunichi Suzuki on Tuesday said it is not yet time to debate a possible review of a joint statement the government and Bank of Japan (BOJ) issued in 2013 calling for the achievement of 2 per cent inflation as quickly as possible.Sources previously told Reuters that ...
3 hours ago
Abu Dhabi's IHC plans to invest US$381 million in Adani Enterprises
Abu Dhabi conglomerate International Holding Company on Monday (Jan 30) said it would invest 1.4 billion dirhams (US$381.17 million) in Adani Enterprises' follow-on public offer. IHC's statement comes as the Indian company, owned by Asia's richest man, Gautam Adani,
3 hours ago
Straits Trading prices S$370 million secured exchangeable bonds at 3.25%
Bernadette Toh - THE Straits Trading Company has priced S$370 million worth of secured exchangeable bonds maturing Feb 13, 2028.
3 hours ago
Cromwell European REIT’s portfolio falls to EUR2.49 bil in FY2022, gearing expected to remain below 40%
Felicia Tan - The portfolio valuation for Cromwell European REIT (CEREIT) has dropped to EUR2.49 billion ($3.55 billion) for the FY2022 ended Dec 31, 2022, 1.6% lower compared to its valuation in June 2022.The figure is based off the respective independent valuations carried out by CBRE and Savills Advisory Servi ...
3 hours ago
Fed funds borrowing leaps to new high as banks scramble for cash
TRADING in a key overnight funding market surged to the highest in at least seven years, an indication Federal Reserve tightening is putting increasing pressure on liquidity in the banking system.
3 hours ago
Stocks to watch: CDL, Keppel Infra Trust, ESR-Logos Reit, OUE C-Reit, Straits Trading
Janice Tan - THE following companies saw new developments that may affect trading of their securities on Tuesday (Jan 31):
3 hours ago
Ford to cut prices of Mustang Mach-E, following Tesla's lead
:Ford Motor Co on Monday cut prices of its electric crossover SUV Mustang Mach-E by as much as $5,900 per vehicle, weeks after rival Tesla Inc slashed prices globally on its electric vehicles by as much as 20 per cent.Shares of Ford closed down 2.9 per cent in above average trading to $12.89. Tesla ...
3 hours ago
US court rejects J&J bankruptcy strategy for thousands of talc lawsuits
A US appeals court on Monday shot down Johnson & Johnson’s attempt to offload tens of thousands of lawsuits over its talc products into bankruptcy court. The ruling marked the first major repudiation of an emerging legal strategy with the potential to upend US corporate liability law.
3 hours ago
Samsung profit plunges as memory chip crash eats into earnings
SAMSUNG Electronics’s quarterly profit tumbled, hurt by a sharp drop in demand for semiconductors as consumers spent less on electronic gadgets.
3 hours ago
'Hold' on to CapitaLand Investment as it is a potential beneficiary to China's reopening
Samantha Chiew - OCBC Investment Research is keeping its “hold” recommendation on CapitaLand Investment (CLI) with an increased fair value estimate of $4.05 from $3.74 previously as the research team views the stock as a potential beneficiary of China’s faster-than-expected reopening.According to data from CLI ...
3 hours ago
Pay up on 1MDB settlement, Anwar tells Goldman
MALAYSIAN Prime Minister Anwar Ibrahim demanded that Goldman Sachs Group honour its settlement with the government for its role in the 1MDB scandal, saying the Wall Street firm shouldn’t use its financial strength to dictate terms.
3 hours ago
Malaysia PM Anwar tells Goldman to pay up on 1MDB settlement
MALAYSIAN Prime Minister Anwar Ibrahim demanded that Goldman Sachs Group honour its settlement with the government for its role in the 1MDB scandal, saying the Wall Street firm shouldn’t use its financial strength to dictate terms.
3 hours ago
Japan Dec factory output inches down, retail sales beat forecasts
TOKYO :Japanese factories cut output slightly in December, capping a weak final quarter of 2022 for manufacturers hit by stalling global demand and rising costs.Although retail sales, a barometer of service-sector activity and consumer spending, rose more than expected, the faltering factory activit ...