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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35 minutes ago

Recession risk forces BOJ to row back on inflation goal

The widening economic fallout from the coronavirus outbreak and soft consumption are forcing the Bank of Japan to message more strongly that it is no longer inclined to chase its elusive 2per cent inflation target, sources familiar with its thinking say.

40 minutes ago

Samsung poised to benefit from China virus woes afflicting Apple, other rivals

Marissa Lee - Samsung Electronics stands to be a major beneficiary of the China production problems announced by rival Apple Inc on Monday, reaping the rewards of a decade-long bet on low-cost smartphone manufacturing in Vietnam.

49 minutes ago

Joo Chiat conservation shophouse put on market with S$4.5m guide price

Rachel Mui - A CONSERVATION shophouse at 452 Joo Chiat Road is up for sale in the market with an indicative price of S$4.5 million, marketing agent CBRE said on Tuesday. 

55 minutes ago

HSBC sets new cost cutting, earnings targets after 2019 profit falls 33%

Marissa Lee - HONG KONG/LONDON: HSBC Holdings PLC on Tuesday unveiled plans to cut US$100 billion in assets, slash its investment bank and restructure in the United States and Europe, as it launched its biggest overhaul in years in a bid to improve returns. The restructuring announcement comes against the ...

1 hour ago

China to grant tariff exemptions on additional US goods

Marissa Lee - China said on Tuesday it would accept applications for new tariff exemptions for 696 products imported from the United States including key agricultural and energy products such as pork, beef, soybeans, liquefied natural gas and crude oil.

1 hour ago

Singapore stocks: STI resumes Tuesday afternoon down 0.6% on day

Navin Sregantan - SINGAPORE equities resumed trading on Tuesday afternoon in negative territory ahead of the Budget reading, with the Straits Times Index (STI) trading 18.62 points or 0.6 per cent lower at 3,194.38 at 1.05pm.

1 hour ago

Cecil Street's IOB Building up for sale at S$217.7m guide price

Vivienne Tay - IOB Building, a six-storey office block with two levels of basement car park at 64 Cecil Street, has been put up for sale via tender at an overall guide price of S$217.7 million, said exclusive marketing agent Knight Frank on Monday.

1 hour ago

Singapore Airlines to cut flights as COVID-19 outbreak hits demand

Marissa Lee - SINGAPORE: Singapore Airlines (SIA) will temporarily cut flights across its global network in the three months to May, it said on Tuesday (Feb 18), as a coronavirus epidemic hits demand for services to the Asian city state, as well as through the key transit hub. In the announcement published on ...

1 hour ago

Malaysia International Business Awards 2020 calls for nominations

Staff Reporter - Submitted By:  Staff Reporter Case Study:  No Submission of entries ends on 22 May, Friday. Amidst a catastrophe of epidemic proportions, multinationals and corporates are on a wait and see approach on whether hoisting sail and racing towards emerging markets just might be the answer to b ...

2 hours ago

LIVE: SG Budget 2020

maelynn -

2 hours ago

Nissan's new CEO says willing to be fired if no turnaround

Marissa Lee - Nissan Motor Co Chief Executive Makoto Uchida on Tuesday said he expects weak global car sales to keep the Japanese automaker's earnings and cashflow under pressure through the end of the financial year in March.

2 hours ago

HSBC sets new cost cutting, profit targets after 2019 profit falls 33per cent

Marissa Lee - HSBC Holdings PLC on Tuesday posted a fall of 33per cent in annual profit, lagging analyst estimates, mainly due to a goodwill impairment of US$7.3 billion related to its investment banking and commercial banking businesses in Europe.

2 hours ago

Supply chain disruptions, increasing price competition entail challenging outlook for Hi-P: Maybank

Uma Devi - SINGAPORE (Feb 18): Maybank Kim Eng Research is reiterating its “sell” call on Hi-P International, and has slashed its target price to $1.00, representing a 22% downside for the stock.  In a Tuesday report, lead analyst Lai Gene Lih notes that the group’s results for 4QFY2019 ended December ...

2 hours ago

HSBC 2019 profit falls 33per cent, misses estimates

Marissa Lee - HSBC Holdings PLC on Tuesday posted a fall of 33per cent in annual profit, lagging analyst estimates, mainly due to a goodwill impairment of US$7.3 billion related to its investment banking and commercial banking businesses in Europe.

3 hours ago

NSF fined S$2,500 for flying drone near National Day Parade venue

marcel.pereira -

3 hours ago

Nissan CEO sees earnings, cashflow under pressure this business year

Marissa Lee - Nissan Motor Co Chief Executive Makoto Uchida on Tuesday said he expects weak global car sales to keep the Japanese automaker's earnings and cashflow under pressure through the end of the financial year in March.

3 hours ago

Japan approves bill to help firms to develop 5G, drone technologies

Marissa Lee - Japan's cabinet on Tuesday approved a bill to support companies to develop secure 5G mobile networks and drone technologies amid growing alarm among Tokyo policymakers over the increasing influence of China's 5G technology.

3 hours ago

Broker's take: RHB downgrades Valuetronics to 'neutral' on production delay due to Covid-19 outbreak

Navin Sregantan - FACTORING in the effect the Covid-19 outbreak has on production at Valuetronics Holdings' Chinese factories, RHB Research has downgraded the contract manufacturer to "neutral" and lowered its target price to S$0.76.

3 hours ago

Samsung offers phone delivery service for test use to ride out coronavirus impact

Marissa Lee - Samsung Electronics has launched smartphone delivery services for customers to test its new products, as the spread of the coronavirus has prompted the tech giant to cancel promotional events and brace for weak store sales.

3 hours ago

Coronavirus outbreak prompts RHB to turn cautious on Valuetronics

Jeffrey Tan - SINGAPORE (Feb 18): Given the impact from the outbreak of the novel coronavirus (Covid-19), RHB Securities has turned cautious on integrated electronics manufacturing services provider Valuetronics. The brokerage lowered its FY20 earnings forecast for the company by 8% as it believes that there wil ...

3 hours ago

Apple jars investors into coronavirus realities

Pete Sweeney - [HONG KONG] Apple could finally make investors as concerned as the wider population about the latest novel coronavirus. The iPhone maker warned on Monday that quarterly revenue would fall short of the US$63 billion to US$67 billion guidance it provided a few weeks ago because of supply and demand p ...

3 hours ago

Commentary: The future just got brighter for aspiring Singapore tech entrepreneurs

A slew of grants, programmes and high-level political attention on the start-up scene has given aspiring entrepreneurs in Singapore a boost, says Oon Tian Sern.

3 hours ago

Commentary: COVID-19 could redefine Singapore’s place in the global economy

COVID-19 may bring challenging economic times to Singapore but its more pervasive, lasting effects will accelerate shifts in the economic landscape that require adjustments by the country, says Alex Capri.

3 hours ago

Analysts remain positive on Genting Singapore despite disqualification on Osaka bid

Samantha Chiew - SINGAPORE (Feb 18): Genting Singapore (GENS) has been disqualified from the Osaka integrated resort (IR) bid. Last Friday, the Osaka prefectural government announced that among the three shortlisted candidates (Genting Singapore, MGM and Galaxy) to submit the request-for-proposal (RFP) for the inte ...

4 hours ago

Standard Chartered opens international banking and priority private centre in Singapore

Staff Reporter - Submitted By:  Staff Reporter Case Study:  No It caters to clients with a minimum AUM of $1.5m. Standard Chartered has opened its flagship international banking and priority private centre at Ngee Ann City, making Singapore its first market ever to launch a centre for this specific segmen ...

4 hours ago

Boustead Projects halts construction works after Seletar virus case

Vivienne Tay - MAINBOARD-LISTED Boustead Projects on Tuesday morning said it had immediately stopped construction activities on Feb 9 at Seletar Aerospace Heights and a neighbouring facility. This was after being informed of its first confirmed Covid-19 case at Seletar Aerospace Heights.

4 hours ago

Works at Boustead Projects' Seletar site halted since Feb 9 for cleaning

Vivienne Tay - MAINBOARD-LISTED Boustead Projects on Tuesday morning said it had immediately stopped construction activities on Feb 9 after being informed of its first confirmed Covid-19 case at Seletar Aerospace Heights.

4 hours ago

Souring Vietnam sentiments on beer may hit ThaiBev

Staff Reporter - Submitted By:  Nathanielle Punay Case Study:  No The country’s new anti-drunk driving law took its toll on Sabeco’s beer volumes. Concerns over drink driving laws in Vietnam dragged ThaiBev’s share price down 11.8% YTD, according to an analyst report by DBS Group Researc ...

4 hours ago

US mulls cutting Huawei off from global chip suppliers, with TSMC in crosshairs

Nisha Ramchandani - The Trump administration is considering changing U.S. regulations to allow it to block shipments of chips to Huawei Technologies from companies such as Taiwan's TSMC , the world's largest contract chipmaker, two sources familiar with the matter said.

4 hours ago

Stocks fall after Apple warns on coronavirus impact

Nisha Ramchandani - U.S. stock futures slipped from record levels on Tuesday after Apple Inc said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China.

4 hours ago

Commentary: COVID-19 proving to be a business opportunity for some companies

Faced with the prospect of empty cinemas, a Chinese movie studio radically changed its film distribution approach, says an observer.

4 hours ago

DBS says second employee infected with Covid-19, works at satellite office

Fiona Lam - ANOTHER staff of DBS has tested positive for the novel coronavirus (Covid-19), the bank said in response to The Business Times’ (BT) queries on Tuesday.

4 hours ago

Second DBS employee infected with Covid-19, said to be working at bank’s satellite office

Fiona Lam - ANOTHER staff of DBS has tested positive for the novel coronavirus (Covid-19), the bank said in response to The Business Times’ (BT) queries on Tuesday.

4 hours ago

Three proposals submitted for 5G rollout

Staff Reporter - Submitted By:  Clarist Zablan Case Study:  No IMDA expects to award the spectrum by mid-2020. The Infocomm Media Development Authority (IMDA) received three submissions for proposals to facilitate the rollout of 5G networks, according to a press release. At the proposal’s closing, I ...

4 hours ago

SIA Group's January load factor up 1.4ppt to 84.5%

Staff Reporter - Submitted By:  Nathanielle Punay Case Study:  No The year-end holidays boosted the PLF of all of its airlines. SIA Group airlines' (SIA) passenger load factor (PLF) rose by 1.4 percentage points (ppt) YoY to 84.5% in January, an announcement revealed. Its passenger carriage also grew ...

5 hours ago

Nissan CEO sees earnings, cashflow under pressure for current financial year

Vivienne Tay - Nissan Motor Co Chief Executive Makoto Uchida on Tuesday said he expects the Japanese automaker's earnings and cashflow to remain pressured through the end of the financial year in March as it grapples with weak global car sales.