33 minutes ago
Australian shares notch record closing high as jobless spike fuels rate-cut bets
[SYDNEY] Australian shares rose to a record close on Thursday (Oct 16), driven by strong gains in financials, property and gold stocks...
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
46 minutes ago
DBS, Banque Saudi Fransi join forces to boost payment flows across Asia, GCC
The partnership will boost GCC trade, finance and currency-clearing collaboration across the region
47 minutes ago
G20 risk watchdog warns of 'significant gaps' in global crypto rules
PARIS/LONDON :There are "significant gaps" in countries' attempts to regulate fast-growing crypto markets, which could potentially harm financial stability, the G20's risk watchdog warned on Thursday.The Financial Stability Board (FSB), a body founded in the aftermath of the glob ...
60 minutes ago
Nestle to cut 16,000 jobs worldwide over next two years
ZURICH: Nestle, the Swiss food giant whose brands include Nespresso coffee and Perrier water, will eliminate 16,000 jobs worldwide over the next two years, its new chief executive said on Thursday (Oct 16)."The world is changing, and Nestle needs to change faster," Philipp Navratil, who to ...
1 hour ago
DBS and CGS International maintain ‘hold’ on Aztech Global
Teo Zheng Long - Both DBS and CGS International maintain their “hold” call on Aztech Global (Aztech) following its 3QFY2025 ended Sept 30 business update. On Oct 15, Aztech reported 3QFY2025 earnings of $10.8 million, down 21% y-o-y, on the back of a 20% y-o-y drop in revenue to $133.5 million, amid subdued end- ...
1 hour ago
German drone maker Quantum nears funding round that could triple valuation
BERLIN :German drone maker Quantum Systems is close to completing a 150 million euro ($175 million) funding round that could triple its valuation to 3 billion euros, Manager Magazin reported on Thursday, citing unnamed sources.The startup company, whose new drone "Jaeger" is designed to in ...
1 hour ago
Singapore's GIC sues Chinese EV maker Nio over allegedly inflated revenues; share price falls by over 13%
SINGAPORE: Singapore's sovereign wealth fund GIC has sued Chinese electric vehicle (EV) maker Nio and two of its top executives over allegedly inflated revenues.Nio stock plunged more than 13 per cent on Thursday (Oct 16), on course for its biggest one-day drop in about six months, as investors ...
2 hours ago
Asian REITs continue to outperform in 3Q2025, ahead of Asian credit, global equities: Julius Baer
Jovi Ho - Chua Jen-Ai, Asia equity research analyst at Julius Baer, notes “positive but decelerating momentum” among Asian REITs in 3Q2025. Asian REITs maintained their outperformance in 3Q2025, with total US dollar-denominated returns of 23% for the 9M2025 period, ahead of credit markets in Asia, which a ...
2 hours ago
Investors call for greater disclosure in Toyota's buyout of group company
TOKYO :Global investors have called on Toyota Motor to provide more disclosure about its planned buyout of group firm Toyota Industries, criticising what they said was "opaque" valuation and a failure to safeguard the interests of minority shareholders.An August 8 letter - made public on ...
2 hours ago
DBS and Banque Saudi Fransi to work together on trade finance and payment flows between Asia and Saudi Arabia
Felicia Tan - DBS Group Holding and Saudi Arabian financial institution Banque Saudi Fransi (BSF) have signed a memorandum of understanding (MOU) to expand their trade settlement, financing and regional currency clearing solutions. The MOU was signed at the sidelines of Sibos, a global finance services conference ...
3 hours ago
Nestle to axe 16,000 jobs as new CEO targets sales growth
The company employs around 277,000 people worldwide
3 hours ago
Nio shares plunge 13.8% after Singapore’s GIC files lawsuit
Shikhar Gupta - The Chinese EV maker and its top execs are being sued for ‘fraudulent recognition’ of at least US$600 million revenue
3 hours ago
Billions wiped off Nio’s market value as shares plunge 13.8% on news of GIC lawsuit
Shikhar Gupta - The Chinese EV maker and its top execs are being sued for ‘fraudulent recognition’ of at least US$600 million revenue
3 hours ago
Review under way to simplify Singapore’s foreign law firm licensing framework, strengthen local practice independence
Tessa Oh - Committee addressing concerns that the current system is too complex
3 hours ago
CLI’s self-storage unit invests close to S$100 million in Singapore flagship project, 3 Tokyo facilities
Therese Soh - When completed, the Singapore facility will expand ESA’s portfolio in the city to 13 properties with more than 1.5 million sq ft...
3 hours ago
CLI’s self-storage unit invests close to S$100 million in Singapore flagship project; acquires 3 Tokyo facilities
Therese Soh - When completed, the Singapore facility will expand ESA’s portfolio in the city to 13 properties with more than 1.5 million sq ft...
3 hours ago
TSMC profit beats estimates in latest sign of robust AI spending
Debby Wu / Bloomberg - Taiwan Semiconductor Manufacturing Co. (TSMC) posted a better-than-anticipated 39% jump in quarterly profit, the latest sign of rising demand for components like Nvidia chips that power AI. TSMC reported net income of NT$452.3 billion ($19.11 billion) in the September quarter, compared with the NT$4 ...
3 hours ago
GIC sues China EV maker Nio, top execs for allegedly inflating revenues of at least US$600 million
Derryn Wong - It’s accusing Nio of fraud via manipulation of battery ‘sales’; seeks damages for its purchase of 54 million Nio depositary shares
3 hours ago
GIC sues China EV giant Nio, top execs for allegedly inflating revenues of at least US$600 million
Derryn Wong - It’s accusing Nio of fraud via manipulation of battery ‘sales’; seeks damages for its purchase of 54 million Nio depositary shares
3 hours ago
GIC sues China EV maker Nio and its top execs for ‘fraudulent recognition’ of at least US$600 million revenue from battery leasing arm
Derryn Wong - It it seeking damages arising from the purchase of 54.4 million Nio shares from 2020 to 2022
3 hours ago
TSMC Q3 profit blows past market forecast to a record on AI spending boom
TAIPEI :TSMC, the world's main producer of advanced AI chips, posted a 39.1 per cent jump in third-quarter profit to record levels that handily beat market forecasts on Thursday, though U.S. tariffs could weigh on its outlook.Benefiting from surging demand for advanced chips used in artificial ...
3 hours ago
TSMC Q3 profit jumps 39.1% to record, beats expectations
TAIPEI :TSMC, the world's largest contract chipmaker, posted a 39.1 per cent jump in third-quarter net profit on Thursday, beating market forecasts and hitting a record as it benefited from surging demand for semiconductors used in artificial intelligence applications.Taiwan Semiconductor Manuf ...
3 hours ago
CLI-managed Extra Space Asia investing nearly $100 mil to develop Kaki Bukit site, acquire three Tokyo facilities
Jovi Ho - CapitaLand Investment-managed (CLI) self-storage platform Extra Space Asia (ESA) is investing nearly $100 million in its first build-to-suit flagship development in Singapore and acquiring three freehold self-storage facilities in Tokyo, Japan. According to CLI, ESA has acquired a land parcel at Kak ...
3 hours ago
Karen Chen Xiuling quits SGX-listed 17Live’s board after US sanction for alleged ties to Cambodian scam empire
[SINGAPORE] An independent director of Singapore-listed 17Live Group has resigned after she was added to a US sanctions list for her alleged...
4 hours ago
Thai banks face lending income hit as weak economy persists
Margins will be pinched as interest-income gains are further limited, compounded by weak lending and bad debt
4 hours ago
Malaysia central bank says it will transition to transaction-based benchmark market rates
[KUALA LUMPUR] Malaysia’s central bank said on Thursday that it will transition from the Kuala Lumpur Interbank Offered Rate (KLIBOR) to the...
4 hours ago
TSMC ADR premium tops two-decade high as global buyers pile in
Options traders are also positioning for more gains
5 hours ago
Banks and private credit clash after Dimon’s cockroach barb
The bickering underscores what’s at stake as a tidal wave of change sweeps across the financing landscape
5 hours ago
Six Asean payment networks tie up for one cross-border system to rule them all
Shikhar Gupta - The participating networks are Nets, PayNet, Napas, BancNet, Artajasa and Rintis
5 hours ago
Six Asean payment networks to establish global standards body for cross-border payments
Shikhar Gupta - The participating networks are Nets, PayNet, Napas, BancNet, Artajasa and Rintis
5 hours ago
Foreign money spurs wilder twists in Japan's sedate bond yield curve
TOKYO :A rush of foreign money into Japan's super-long-dated bonds is creating sharper shifts in the usually calm yield curve as recent political chaos and doubts over central bank rate hikes fan investor uncertainty.Changes in the shape of Japan's government bond (JGB) curve, which charts ...
5 hours ago
Auditor for Dasmond Koh’s NoonTalk Media flags going concern doubts amid net losses
Deon Loke - The group incurs a net loss of nearly S$1.8 million and has net liabilities of S$396,000
5 hours ago
Asia: Stocks rise as traders weigh China-US row, rate cut hopes
ASIAN equities edged up on Thursday as investors weighed the latest volleys in the China-US trade war and expectations that the Federal...
6 hours ago
With US-China tensions back on the upswing, is the TikTok deal at risk?
Analyst opinions are mixed on the viability of the deal for TikTok's US ownership, with "everything on the table" after recent flare-ups.