Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

Latest Business Headlines and Stock Market News Published by Singapore Publisher Channel News Asia, Deal Streat Asia, Singapore Business Review, The Business Times, The Edge Market, Today Online @ SGinvestors.io

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18 minutes ago
Europe: Equities register declines
[LONDON] European stock markets dipped at the start of trading after a downbeat session in Asia.
24 minutes ago
Hong Kong: Stocks sink day after breaching milestone
[HONG KONG] Hong Kong stocks slid on Thursday, the day after ending above 30,000 for the first time in a decade, while concerns about a crackdown on risk sent Shanghai tumbling.
36 minutes ago
Has Midas been derailed by China's alleged crackdown on local infrastructure spending?
Stanislaus Jude Chan - SINGAPORE (Nov 23): Shares of Midas Holdings continued to tumble on Thursday, falling 11.8% to 15.7 cents as at 4.21pm. Since closing at 21.5 cents on Nov 13, the stock has shed over a quarter of its market value. The plunge comes after reports last week that another city government in China has jam ...
45 minutes ago
As Black Friday nears, US stores get creative to battle e-commerce
Kalpana Rashiwala - NEW YORK: The photo op with Santa Claus has long been a holiday mainstay for American children. But this year, shopping malls in several states are scheduling glamour shots for man's best friend. As the Christmas shopping season kicks into high gear on Black Friday, the day after Thanksgiving ...
45 minutes ago
Seoul: Stocks fall; won firm as US dollar remains on back foot
[SEOUL] South Korea's KOSPI stock index weakened on Thursday. The Korean won hovered around 2-1/2-year highs on the local platform while bond yields fell. At 0732 GMT, the KOSPI was down 3.36 points or 0.13 per cent at 2,537.15.
46 minutes ago
Thai rice exports hit initial 10 million tonne target, more shipments seen
[BANGKOK] Thailand's rice exports have topped 10 million tonnes this year, in line with an initial government target, but the commerce minister said on Thursday shipments are expected to rise further when a deal to sell to Bangladesh is finalised.
46 minutes ago
Cromwell takes another shot at listing European IPO
PC Lee - SINGAPORE (Nov 23): Two months after aborting the initial public offering (IPO) process, Australia’s Cromwell Property Group is pushing ahead with the Singapore listing of its European REIT, this time smaller in size. See: Cromwell launches $1.5 bil CEREIT IPO in Singapore See also: SGX gives nod ...
50 minutes ago
BLOCK71 Suzhou jointly launched by NUS & partners at Suzhou Industrial Park
Michelle Zhu - SINGAPORE (Nov 23): The National University of Singapore (NUS) today launched BLOCK71 Suzhou, a new initiative aimed at providing support for Singapore entrepreneurs and technology startups looking to explore potential business opportunities in China. This follows the 2013 establishment of NUS (Suzh ...
1 hour ago
Australia shares steady as financials fall, materials rise; NZ down
[BENGARULU] Australian shares ended flat on Thursday as losses in financial stocks effectively cancelled out the gains made by materials stocks on higher iron ore prices.
1 hour ago
Hoe Leong Corporation plans to restructure debts into vessel loans, spare part loans
Jacqueline Woo - HEAVY equipment supplier Hoe Leong Corporation has unveiled more details on its plans to restructure nearly S$80 million in debts owed to creditors.
1 hour ago
Hoe Leong Corporation plans to restructure debts as vessel loans, spare part loans
Jacqueline Woo - HEAVY equipment supplier Hoe Leong Corporation has unveiled more details on its plans to restructure nearly S$80 million in debts owed to creditors.
1 hour ago
China shares tumble on bond rout, blue-chip index down most in 1-1/2 years
[SHANGHAI] Chinese shares tumbled on Thursday with the blue-chip index suffering its worst fall in nearly 1-1/2 years as worries about a selloff in the bond market bled into equities.
1 hour ago
India is said to discuss US$6b Lotte, Peugeot investments
[NEW DELHI] South Korean conglomerate Lotte Group and French automotive group Peugeot SA have discussed proposals to invest as much as US$6 billion combined in India, a move that would boost Prime Minister Narendra Modi's attempts to attract foreign capital in Asia's third-largest economy ...
1 hour ago
Singapore CPI up to 0.4% in October
Staff Reporter - Submitted By:  Danielle Isaac Case Study:  No Food and private transport were the biggest risers. Singapore's consumer price index (CPI) for all items rose to 0.4% YoY, the Singapore government revealed. The Ministry of Trade and Industry (MTI) said the higher inflation of food and pr ...
1 hour ago
Price wars savage telcos' average revenue per user
Staff Reporter - Submitted By:  Danielle Isaac Case Study:  No Lower revenues in voice, IDD, and roaming usage are all factors. The average revenue per user (ARPU) of Singapore's three giant telcos are under pressure, no thanks to lower revenues in voice, IDD, and roaming usage. According to OCBC Inve ...
1 hour ago
Sembcorp Marine profits could rise 56% in 2019
Staff Reporter - Submitted By:  Danielle Isaac Case Study:  No With $2.5b in new orders pending, 2018 could be a big year. The lull could finally be over for Sembcorp Marine if it manages to bag orders worth $3.5b in 2018 and see its profits increase 56% in 2019 to $136m, CIMB said. Things look up for the ...
1 hour ago
China's Oct trade with North Korea sinks after UN sanctions
[BEIJING] China's trade with North Korea fell in October to US$334.9 million, its lowest since February, as imports shrank to their weakest in years, data showed on Thursday, the latest sign that sanctions have crimped business with its isolated neighbour.
1 hour ago
Singapore’s GDP growth races to near 4-year high in Q3: Time to cheer?
Kalpana Rashiwala - Underneath the increasingly cheerful economic indicators, the Ministry of Trade and Industry (MTI) said that unevenness in growth remains.
2 hours ago
UOB opens new Kunming branch
PC Lee - SINGAPORE (Nov 23): United Overseas Bank (UOB) has opened its branch in Kunming, Yunnan. This is the bank’s 17th branch in China and its third in West China. Yunnan is a strategic node of China’s Belt and Road initiative and has recorded strong trade and investment flows, especially from Hong Ko ...
2 hours ago
Cathay Pacific's pilots plan levy as buffer against action by airline
Kalpana Rashiwala - SINGAPORE: Cathay Pacific Airways Ltd's pilots will vote on whether to raise funds as a buffer against any actions the loss-making Hong Kong airline takes against them such as unilateral benefit changes or job losses, according to the pilot's union. Cathay has warned its pilots about intended cuts . ...
2 hours ago
Amazon starts Australian trial after months of hype
Kalpana Rashiwala - SYDNEY: Amazon.com Inc's Australian arm began an order-taking trial on Thursday, giving life to the hype which has preceded its arrival in the world's No. 12 economy and weighed on the shares of the brick-and-mortar retail sector. The trial kicked off at 3 p.m. (0400 GMT) with the Amazon ...
2 hours ago
NetLink Trust leads the way as Southeast Asia IPOs raise $10.4 bil so far this year
Stanislaus Jude Chan - SINGAPORE (Nov 23): Capital markets across Southeast Asia have raised a total of $10.4 billion in 144 initial public offerings (IPOs) in the year up to mid-November – the highest amount raised in the region since 2014. Mainboard-listed Netlink NBN Trust leads the way, with some $2.45 billion raise ...
2 hours ago
Singapore October all-items CPI rise 0.4% y/y, below forecast
Reuters - (Nov 23):  Singapore's headline consumer price index rose a slower-than-expected 0.4% in October from a year earlier due to declining accommodation costs, data showed on Thursday. The rise compared with the median forecast in a Reuters poll for all-items CPI to gain 0.5%. In September, headline CPI ...
2 hours ago
Engie, Mitsui sell Australian coal-fired power plant to Alinta
[MELBOURNE] Engie and Mitsui have agreed to sell their Loy Yang B coal-fired power station in Australia to Alinta Energy, bolstering the Chinese-owned firm's foothold in the country's tight energy market.
2 hours ago
Malaysia plantation company Felda reports net profit, buoyed by palm fruit output
[KUALA LUMPUR] Malaysia's Felda Global Ventures Bhd, the world's No 3 palm plantation operator, chalked up a net profit in the quarter that ended in September versus a net loss in the same period last year, buoyed by increased production of palm fruit.
2 hours ago
Chinese firm probes if children work in African mines
Kalpana Rashiwala - BEIJING: A Chinese metal trading firm said Thursday (Nov 23) it is investigating whether children are toiling in Congolese mines that supply it with cobalt, a key resource for mobile phones and electric cars. Yantai Cash, a cobalt exporter based in eastern Shandong province, told AFP that it is ...
3 hours ago
Changi Airport passenger traffic up 8.1% to 5.16m in October
Staff Reporter - Submitted By:  Staff Reporter Case Study:  No Traffic from India posted the largest increase. Passenger traffic from the country’s primary civilian air carrier Singapore Changi Airport increased 8.1% YoY as it registered 5.16 million passenger movements in October. According to a me ...
3 hours ago
Gold Fund catches bitcoin fever as crypto bulls see US$10,000
[SINGAPORE] The Old Mutual Gold & Silver Fund, which manages US$220 million of mostly precious metal equities, is jumping on the bitcoin wagon.
3 hours ago
Region should work more closely together on infrastructure development: President Halimah Yacob
Yasmine Yahya - COUNTRIES in the region should work even more closely together for their mutual benefit, in areas such as infrastructure development, Singapore President Halimah Yacob said on Thursday.
3 hours ago
'I've just gotten started': Razer’s Tan Min-Liang on future plans, setting up shop in Singapore
Kalpana Rashiwala - The CEO of the recently listed gaming peripherals company shared that Southeast Asia is one of his key focus areas for “the next couple of years”.
3 hours ago
Hong Kong tycoon pledges HK$1b to charity as Hang Seng passes milestone
[HONG KONG] The billionaire chairman of Hong Kong developer Henderson Land said he will donate HK$1 billion (S$172.5 million) to charity after the city's benchmark index surpassed the 30,000-point level, keeping a pledge he made seven years ago.
4 hours ago
Dining goes digital for Thailand's street food vendors
[BANGKOK] Bangkok's famous street-food vendors have joined the digital revolution, embracing payment via Quick Response (QR) barcodes that can be read using smartphones.
4 hours ago
Singapore shares resume flat on Thursday afternoon; STI at 3,425.93
Navin Sregantan - SINGAPORE shares resumed trading flat on Thursday, with the Straits Times Index down 0.49 points to 3,429.53 as at 1.02pm.
4 hours ago
Singapore consumer prices inch up 0.4% in October
Chia Yan Min - SINGAPORE'S inflation remained muted last month though the cost of some services - including healthcare and education - continued to edge up.
4 hours ago
Singapore makes a ‘good start’ on its debt restructuring ambitions
Bloomberg - (Nov 23): Singapore has made “a good start” in its bid to become a debt restructuring hub in the region, with six workout cases filed before its courts after it adopted U.S. Chapter 11-like incentives in local company laws this year, a senior government official said. Indonesian developer PT Bak ...
4 hours ago
Private jets to concerts rolled out to woo gamblers to Macau
[HONG KONG] Macau's biggest junket operator is rewarding its high rollers with travel packages to attend the Kennards Hire Rally car race in Australia and a limited-edition Christophe Claret watch - and it's reaping dividends.