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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4 hours ago

Alibaba's quarterly revenue beats estimates

Today - Alibaba Group Holding Ltd , China's largest e-commerce firm, reported first-quarter revenue above Wall Street estimates, helped by strength in the Chinese e-commerce market. Alibaba's revenue rose 56 percent to 50.18 billion yuan ...

4 hours ago

Buyout firms readying sale of US$1b Indonesia tower operator STP: sources

[SINGAPORE] Buyout firms Carlyle and Southern Capital Group are in talks to sell their majority stake in Solusi Tunas Pratama in a deal that could value the Indonesian telecoms tower operator at about US$1 billion, three people familiar with the process said.

4 hours ago

China gets tough on long, odd company names

[SHANGHAI] "Beijing Afraid of Wife Technology" and "What You Looking at Technology" are among the kind of company names that will become a thing of the past under new Chinese government rules.

5 hours ago

Trump's pro-business image tarnished as CEOs abandon president

[WASHINGTON] During his campaign for president, Donald Trump boasted of business prowess, vowing to bring in top executives to help him revive the economy and to personally lobby corporate chiefs to keep jobs in the US.

5 hours ago

Most metals ease after surge that took zinc to highest in decade

[LONDON] Most industrial metals eased back after a rally that took zinc to the highest level in almost 10 years on signs of supply curbs and faster economic growth around the world.

5 hours ago

Saudi Arabia to open border, airports to Qatari pilgrims

[DUBAI] Saudi Arabia will open a border crossing for Qataris making the haj pilgrimage and provide a plane to fly pilgrims in, despite a rift in which Saudi Arabia and other states in the region severed transport links with Qatar.

5 hours ago

Aspen Vision City awards RM442 million contract to Malaysian firm

Stephanie Luo - ASPEN Vision City (AV City) Sdn Bhd, a subsidiary of Aspen Vision Land Sdn Bhd, has awarded a lump sum contract worth RM442 million (S$141 million) to Kerjaya Prospek (M) Sdn Bhd (KPSB) on Tuesday.

5 hours ago

Daily Debrief: What Happened Today

5 hours ago

Little trusted Putin beats Trump on global affairs: Pew

[MOSCOW] Russian President Vladimir Putin inspires little confidence when it comes to handling world affairs, a Pew Research Center survey showed. But he still outshines his US counterpart Donald Trump.

5 hours ago

Ping An Insurance posts best 6-month profit in decade as life premiums jump

[SHANGHAI] Ping An Insurance Group Co of China, the country's second-largest insurer by market value, on Thursday reported its biggest half-yearly profit in at least a decade on robust growth in life insurance premiums.

5 hours ago

Aspen Group awards Vertu Resort contract to Kerjaya Prospek Group

Samantha Chiew - SINGAPORE (Aug 17): Aspen Vision City, the joint venture company of Aspen Group and IKEA Southeast Asia, has awarded the main construction of Vertu Resort in Penang to Kerjaya Prospek. The RM442 million ($141 million) contract will see Kerjaya Prospek take charge of the overall building works of the ...

5 hours ago

SGX, SISV to review practices and reporting of valuers engaged by listed entities

Lynette Khoo - SINGAPORE Exchange (SGX) and the Singapore Institute of Surveyors and Valuers (SISV) are jointly reviewing valuation practices and the reporting carried out by real estate valuers that are engaged by listed issuers.

5 hours ago

Sixt CEO hints at car-sharing merger talks between BMW and Daimler

Today - FRANKFURT - German carmakers Daimler and BMW may be in talks to combine their car-sharing services Car2Go and DriveNow, Sixt chief executive Erich Sixt, whose company owns part of DriveNow, hinted on Thursday. Asked whether Sixt was involved in...

5 hours ago

Hengxin Technology reports 35.8% rise in 1H earnings to $14 mil

Michelle Zhu - SINGAPORE (Aug 17): Hengxin Technology, the manufacturer of radio frequency (RF) coaxial cables for mobile communications in China, has announced interim earnings of RMB68.6 million ($14 million) for the 1H17 ended June, up 35.8% from RMB50.5 million in 1H16 on higher revenue. Group revenue increase ...

6 hours ago

Sembcorp increases stake in India renewable energy business to 72%

Vivien Shiao - SEMBCORP Utilities, a wholly owned subsidiary of Sembcorp Industries, announced on Thursday that it is increasing its stake in its India renewable energy business Sembcorp Green Infra, to 72 per cent for one billion rupees (approximately S$21.4 million).

6 hours ago

Singapore shares close mixed, STI falls for third straight day

R Sivanithy - A GENERALLY lacklustre and mixed session on Thursday ended with the Straits Times Index 10.07 points lower at 3,268.88 and the broad market excluding warrants at an almost even 222 rises versus 234 falls.

6 hours ago

Everbright Water wins wastewater treatment upgrading projects worth RMB41 mil

Samantha Chiew - SINGAPORE (Aug 17): Everbright Water, the water recyling company, announced it has won two contracts in China for RMB41 million ($8.4 million). These are the Binzhou Development Zone Waste Water Treatment Project Phase I Upgrading and Ju County Chengbei Waste Water Treatment Project Upgrading in Sha ...

6 hours ago

Creative Technology awarded S$36m in lawsuit against Huawei

David Hughes - SINGAPORE: Creative Technology and its subsidiary QMax Communications have been awarded about S$36 million in a legal tussle with Huawei over its failed wireless broadband venture.  The Singapore technology company said in a SGX filing on Wednesday (Aug 16) that it sought to recover damages and ...

6 hours ago

Global insured losses from disasters drop in H1 2017: Swiss Re

[ZURICH] Global insured losses from disasters plunged to US$23 billion in the first half of 2017 from US$36 billion a year earlier, Swiss Re estimates showed on Thursday.

6 hours ago

GCCP Resources announces contract wins worth over $5 mil

Michelle Zhu - SINGAPORE (Aug 17): GCCP Resources has announced new contract wins worth over RM16 million ($5 million) in total for the supply of crushed calcium carbonate stones, bringing the aggregate value of the group’s contract wins to-date to over RM31 million. In a Thursday news release, the Malaysia-base ...

6 hours ago

China's growing its share of South-east Asia's infrastructure pie

[BEIJING] China has South-east Asia in its sights.

6 hours ago

SGX and Singapore Institute of Surveyors and Valuers to jointly review reporting for valuations

PC Lee - SINGAPORE (Aug 17): Singapore Exchange (SGX) and the Singapore Institute of Surveyors and Valuers (SISV) are jointly reviewing valuation practices and the reporting carried out by real estate valuers that listed issuers engage. Investors rely on real estate valuations when making decisions on invest ...

6 hours ago

MAS bars former OCBC rep for 7 years

Staff Reporter - Submitted By:  Terry Gangcuangco Case Study:  No The trader misappropriated cash and traded shares without consent in 3 customer accounts. The Monetary Authority of Singapore (MAS) imposed a seven-year prohibition order against former OCBC representative Prem Hirubalan. According to MAS, ...

6 hours ago

How to build a no-fuss portfolio with ETFs

Trinity Chua - (Aug 14): Low-cost exchange-traded funds are a quick and easy way to diversify one’s investments. But is it possible to build a portfolio exclusively with these instruments? Phillip Securities Research analyst Pei Sai Teng thinks so. Pei and his team have curated several model ETF portfolios with ...

6 hours ago

Oil steady as high US output balances crude stock draw

[LONDON] Oil prices steadied on Thursday after US data showed a big fall in crude stockpiles but also an increase in production, taking US crude output to its highest in more than two years.

6 hours ago

Malaysia: Shares close higher on Thursday

MALAYSIA share prices closed higher on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 2.560 points to 1,776.310.

6 hours ago

Australia shares ease on Telstra dividend shock; NZ market extends record run

[BENGALURU] Australian shares turned lower on Thursday, snapping three sessions of gains, as Telstra's stock crumbled to a near five-year low after it stunned investors with plans to slash its dividend.

6 hours ago

Europe's US diesel imports head toward record in August: traders

[LONDON] Europe is set to take a record of more than 2 million tonnes of US diesel in August after a string of refinery woes pulled in cargoes that have for months been diverted elsewhere, trading and shipping sources told Reuters.

6 hours ago

Wing Tai's perpetual bonds four times oversubscribed

Staff Reporter - Submitted By:  Terry Gangcuangco Case Study:  No Its order book amounted to $750m with over 55 accounts. Wing Tai Holdings' (Wing Tai) 4.35% perpetual bonds were more than four times oversubscribed. Wing Tai's order book received over $750m from over 55 accounts, 70% of which was ...

6 hours ago

Oxley's stake in United Engineers climbs to 10.4%

Staff Reporter - Submitted By:  Terry Gangcuangco Case Study:  No UE is currently in the midst of a takeover bid by a consortium. Oxley Holdings (Oxley) acquired a 10.4% stake in United Engineers (UE) through open-market purchases. The former previously announced that it had acquired a 7.11% stake in UE f ...

7 hours ago

Executive Condominium sales volume up 11.1% to 3,004 units

Staff Reporter - Submitted By:  Terry Gangcuangco Case Study:  No That is despite having only 1,555 units launched from January to July. The Executive Condominium (EC) primary market performed well in the first seven months of 2017, garnering sales of 3,004, JLL reported. This is despite having only 1,555 ...

7 hours ago

UK July retail sales rise, led by surge in demand for food

[LONDON] UK retail sales rose more than forecast in July, driven by the biggest jump in purchases of food in almost two years.

7 hours ago

Three young Hong Kong democracy leaders jailed

[HONG KONG] A Hong Kong appeal court on Thursday jailed three prominent young Hong Kong democracy leaders for several months for "unlawful assembly" linked to the city's months-long pro-democracy protests in 2014.

7 hours ago

Hong Kong falls, Shanghai stocks finish higher

[HONG KONG] Hong Kong stocks fell Thursday, even as market heavyweight Tencent rose on surging profits, while Shanghai advanced ahead of results from Chinese e-commerce leviathan Alibaba.

7 hours ago

Blackstone gets SGX-ST nod to delist Japan-focused Croesus Retail Trust

Tanu Pandey - The PE firm had made an offer to acquire all units in Croesus through a trust scheme The post Blackstone gets SGX-ST nod to delist Japan-focused Croesus Retail Trust appeared first on DealStreetAsia.

7 hours ago

Booming thermal coal price on China demand cheers miners

[SINGAPORE] Australian thermal coal prices for spot cargoes above US$100 a tonne, lifted by reports of strikes and strong Chinese demand, are providing a boost in earnings and share prices for miners like Glencore and Whitehaven Coal.