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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5 hours ago

US eases curbs on Huawei; founder says clampdown underestimates Chinese firm

Fiona Lam - The United States has temporarily eased trade restrictions on China's Huawei to minimize disruption for its customers, a move the founder of the world's largest telecoms equipment maker said meant little because it was already prepared for U.S. action.

6 hours ago

Brazil gun maker's shares rise as Bolsonaro decree fires up demand

Fiona Lam - RIO DE JANEIRO: Shares in Brazilian arms maker Taurus soared on Tuesday (May 21) after the company said it had received 2,000 orders for a high-powered assault weapon now available to the public under President Jair Bolsonaro's relaxed gun laws. Far-right Bolsonaro's controversial decree this ...

6 hours ago

Senate Republican leader sees deal on budget caps, debt ceiling soon

Fiona Lam - WASHINGTON: US Senate Majority Leader Mitch McConnell said on Tuesday (May 21) he hoped Congress could reach by the end of the day a two-year agreement on federal spending limits that would also increase the nation's debt ceiling. "Our hope is to make a deal before the day is over," he told ...

6 hours ago

Analysis: Huawei badly needs the Chinese government, tech rivals to back its OS plans

Fiona Lam - Google’s partial ban of Huawei from its Android operating system has the latter scrambling to develop its own, but its success lies heavily on getting Chinese tech giants like Tencent, with its WeChat messenging service, on board, say analysts.

6 hours ago

Nordstrom first-quarter results disappoint, cuts 2019 forecast

Nordstrom Inc on Tuesday cut its forecast for full-year sales and profit after reporting lackluster first-quarter results, blaming softer trends and "executional issues" related to its loyalty program, sending its shares down nearly 9per cent.

7 hours ago

Healthcare startup Biofourmis raises $35m in series B round

Staff Reporter - Submitted By:  Sandra Sendingan Case Study:  No The proceeds will be used to enhance its AI digital therapeutics platform. Singapore-based healthtech startup Biofourmis has raised $35m in a series B round led by Sequoia India and MassMutual Ventures SEA to enhance its proprietary AI- ...

7 hours ago

Chart of the Day: Commercial property investments soared 72% to $2.62b in Q1 as Singapore bucks APAC decline

Staff Reporter - Submitted By:  Arianna Danganan Case Study:  No Office assets were the main engines in pushing transaction volumes forward. This chart from Real Capital Analytics (RCA) shows that Singapore's commercial property investments in Q1 2019 were characterised by a diverse range of transacti ...

7 hours ago

Tech rally leads US stocks higher

Fiona Lam - NEW YORK: Wall Street stocks gained ground on Tuesday (May 21) following two straight losing sessions, after the US said it would delay imposing a ban on dealings with Huawei, which gave a boost to technology shares. The tech-rich Nasdaq Composite Index led major indices lower on Monday on worries ...

7 hours ago

Driving fleets through Singapore's digital revolution

Zain Hak - THE fleet landscape in Singapore - from hawker food deliveries to ride-sharing services - has seen tremendous growth in the past five years. In fact, the Singapore e-commerce market - a major driver for the fleet business - is expected to grow to US$5.4 billion by 2025. This remarkable growth and t ...

7 hours ago

Temasek-linked Astrea PE bonds get Fitch upgrades, affirmations

Vivienne Tay - FITCH Ratings has upgraded and affirmed its ratings assigned to a series of private-equity (PE) bonds offered by Astrea III and Astrea IV, both Temasek-linked PE vehicles.

7 hours ago

DBS, AU Optronics sign Taiwan's first sustainability-linked loan

Fiona Lam - DBS Bank Taipei Branch has signed a three-year, NT$2 billion (S$88 million) sustainability-linked loan with Taiwanese display manufacturer AU Optronics.

7 hours ago

TrickleStar, maker of energy-saving products, seeks Catalist listing

Vivienne Tay - TRICKLESTAR, a producer of energy saving products, has lodged a preliminary prospectus for an initial public offering (IPO) on the Singapore Exchange's Catalist board. Details of the pricing, amount to be raised and timing of the offering - which will be done via private placement - have not yet be ...

7 hours ago

Asian market fixed income ETFs see 'solid returns' over past 12 months: SGX

Rachel Mui - ASIA market fixed income ETFs (exchange traded funds) produced "solid returns" over the past 12 months, according to a research note by the Singapore Exchange (SGX) last Friday. 

7 hours ago

JCG to buy 51% stake in Malaysian medical aesthetics group

Lee Meixian - JCG Investment on Tuesday announced its proposed acquisition of a 51 per cent stake in Malaysia-based medical aesthetics group, Beverly Wilshire Medical Centre, for up to RM15.3 million (S$5.1 million), subject to a minimum consideration of RM13.8 million.

7 hours ago

Oxley expecting sale completion of Chevron House by first quarter of 2020

Yunita Ong - OXLEY Holdings will complete asset enhancement initiative (AEI) works on Chevron House and expects to achieve final completion of the sale of the 32-storey Raffles Place commercial building no later than the first quarter of 2020.

7 hours ago

Wilmar tops Singapore companies for human rights disclosure, second in Asean: study

Fiona Lam - AGRIBUSINESS giant Wilmar International took the top spot among Singapore-listed companies and second place in the overall Asean category in a ranking for human rights disclosure.

7 hours ago

Growth, trade woes weigh on STI

Navin Sregantan - SINGAPORE stocks closed broadly lower on Tuesday, as the final reading on gross domestic product (GDP) missed expectations, and growth outlook was lowered.

7 hours ago

Diversification not working for Jardine Matheson

Revathi Valluvar - JARDINE Matheson Holdings Ltd, a 187-year-old conglomerate with more than US$42 billion in sales, has been among Singapore's steadiest stocks for years. Not so in 2019.

7 hours ago

Extreme CEO pay: America's economic 'miracle'

BILL SAPORITO - ANNUAL-MEETING season is unfolding for corporations, and the script is playing out as usual - chief executives will get their way. They may endure the verbal lashings of a couple of shareholders, perhaps face a slightly embarrassing "say on pay" vote about their princely income and then intone that ...

7 hours ago

Three key residential division execs to leave Knight Frank

Yunita Ong - THREE senior executives from Knight Frank's residential business will be exiting the property firm, leaving leadership in its project marketing team particularly hard hit.

7 hours ago

Singapore bucks weak commercial property market in Q1

Rachel Mui - SINGAPORE escaped the downtrend that caught every other major national Asia-Pacific (Apac) real estate market in the first quarter of this year, with commercial real estate investment jumping 72 per cent year-on-year to US$1.9 billion, data released by Real Capital Analytics (RCA) on Tuesday showed ...

7 hours ago

Spaces opens new locations in Somerset, Clarke Quay

Vivienne Tay - SPACES, owned by flexible workspace provider IWG, has opened two new locations in Singapore, at TripleOne Somerset and Clarke Quay. This brings the number of locations that it has to four, with plans to open an additional two more by year-end.

7 hours ago

ST Telemedia JV building 7b baht Bangkok data centre

Vivienne Tay - ST Telemedia Global Data Centres (STT GDC) and Frasers Property (Thailand) Public Company (FPT) are investing seven billion baht (S$302 million) to build a data centre development in Bangkok.

7 hours ago

Westpac Singapore pulls rug from under 300 mortgage customers

Anita Gabriel - WESTPAC Singapore is exiting the mortgage business, leaving 300 borrowers - both foreigners and Singaporeans - in the lurch.

7 hours ago

Singdollar to hit 1.40 to USD later this year as trade tensions worsen: analysts

Siow Li Sen - THE Singapore dollar is poised to fall further to 1.40 per US dollar in the next few months as rising US-China tensions cloud growth prospects, analysts said.

7 hours ago

Maybank Kim Eng eyes technology, IP to seize Asean growth opportunities

Navin Sregantan - HAVING focused on building its Asean-wide brand and reach in the last eight years, Maybank Kim Eng - the investment arm of Malaysian banking giant Maybank - aims to play a deeper role in driving and leveraging the region's enormous growth opportunities and will be harnessing technology to do so.

7 hours ago

Singapore growth downgraded as trade war threatens economy, business

Vivien Shiao - BUSINESSES are in for stormy times this year as dark clouds loom over Singapore's economic prospects, with the Ministry of Trade and Industry (MTI) downgrading its full-year growth forecast to 1.5 to 2.5 per cent after the results of just one quarter, from an earlier 1.5 to 3.5 per cent.

7 hours ago

ESG cuts exports forecast range to 0 to -2% contraction following 6.4% Q1 drop

Chuang Peck Ming - SINGAPORE ECONOMY

7 hours ago

Tech adoption linked to better performance in firms

Vivien Shiao - THE adoption of more digital technologies by firms, including small and medium-sized enterprises (SMEs), is linked to better performance in terms of value-added and productivity, according to a study by economists from the Ministry of Trade and Industry (MTI).

7 hours ago

US is dealing itself a losing hand with Japan

ANNE O KRUEGER - NNOT content with its trade war against China, US President Donald Trump's administration has also opened bilateral trade negotiations with Japan. Yet whatever Trump hopes to achieve with Japan, it will be far less than what he threw away when he abandoned the Trans-Pacific Partnership (TPP) in ear ...

7 hours ago

Beware trade wars becoming cold wars

Leon Hadar - WHEN discussing the history of the Cold War with students during a class on American diplomacy, I always stress that unlike the other two World Wars of the 20th century, we cannot pinpoint a date on which the geo-strategic confrontation between the United States and the Soviet Union started - or fo ...

7 hours ago

Be future-ready with a diverse, gender-balanced workforce

Michele Wee - TECHNOLOGY has transformed our economy, redefined the way we work and shaken up the status quo. Finance, among other industries, is facing dramatic transformation brought about by new market entrants, evolving customer expectations and changing skills requirements.

7 hours ago

Nigeria's business prospects, investment opportunities to grow in government's 2nd term

Ronak Gopaldas - NIGERIA'S President Muhammadu Buhari successfully secured a second term at the helm of Africa's largest economy. Despite the controversial circumstances surrounding the run-up to the February poll, this was a convincing electoral result and provides a strong mandate for the president and his All Pr ...

7 hours ago

Tech stocks take a beating amid Washington's ban against Huawei

Navin Sregantan - SINGAPORE tech counters faced selloffs on Tuesday in the wake of Washington's ban of Huawei Technologies from purchasing parts and components from American firms without US government approval.

7 hours ago

Home design startup Livspace snags investment from Ikea group

Sharanya Pillai - OMNICHANNEL synergies, product integration and regional expansion are all on the table for home design and renovation startup Livspace now that it has bagged a strategic investment from the largest owner of Ikea stores, chief executive Anuj Srivastava told The Business Times on Tuesday.

7 hours ago

Huawei accuses US of bullying, says working with Google to respond to ban

Lee Meixian - Chinese telecoms equipment maker Huawei called itself the victim of U.S. "bullying" on Tuesday and said it was working with Google to counter trade restrictions imposed by Washington last week, a senior Huawei executive said.