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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8 hours ago

Emirates Airline half-year profit slides 86% on oil hike

Ann Williams - DUBAI: Emirates Airline on Thursday (Nov 15) posted an 86 per cent drop in half-year profits as the Middle East's leading carrier was hit by a hike in oil prices and currency devaluations. The Dubai-based airline in a statement its net profit in the six months to Sep 30 was also impacted by other . ...

8 hours ago

Sales of new private homes in October down by half due to lack of new launches

youjin.low - Janice Lim31 min 36 sec agoSINGAPORE — New private home sales in October fell 48 per cent compared to the month

8 hours ago

Russia says Singapore's Wilmar may invest in soybean production there

Anita Gabriel - MOSCOW: Singapore-listed commodity trader Wilmar International Ltd may invest in soybean production and processing and transhipment of soybean concentrates in Russia's Far East, a regional ministry said on Thursday (Nov 15). Wilmar's long-term investment programme in the Far East has been ...

8 hours ago

Ready, set, shop: More than a third of Americans to buy on Black Friday: poll

Anita Gabriel - About 38 percent of American consumers plan to shop on Black Friday this year, and six in 10 of those shoppers anticipate making at least half of their holiday purchases on that day, a Reuters/Ipsos poll showed on Thursday.

8 hours ago

Cleaners to get wage increases and bonus of at least two weeks’ pay from 2020

youjin.low - Low Youjin45 min 36 sec agoSINGAPORE — Cleaners who are Singapore citizens or permanent residents who have worke

8 hours ago

Element AI forges partnerships with GIC, SGInnovate, SMU

Tay Peck Gek - ARTIFICIAL intelligence (AI) software products company Element AI has separately forged strategic partnerships with GIC, SGInnovate and Singapore Management University (SMU).

8 hours ago

Dell sweetens VMWare tracking stock offer to US$120 per share

Anita Gabriel - Dell Technologies on Thursday raised its offer to buy back shares tied to its interest in VMWare to US$120 per share from its previous offer of US$109.

8 hours ago

Walmart's comparable sales beat estimates, e-commerce sales jump

Anita Gabriel - Walmart Inc on Thursday reported a 3.4 percent rise in sales at U.S. stores open at least a year as more U.S. shoppers purchased goods at its stores and on its website, driven by a strong economy.

9 hours ago

Fibre services in the east to be fully restored by Friday morning: NetLink Trust

Anita Gabriel - SINGAPORE: Fibre services for the estimated 10,000 users affected by the disruption in the eastern parts of Singapore on Wednesday (Nov 14) is expected be fully restored by early Friday morning, fibre broadband network builder NetLink Trust said in an update on Thursday evening. It had previously .. ...

9 hours ago

Fibre broadband outage in the east to be fully restored by Nov 16 morning: NetLink Trust

youjin.low - 20 min 13 sec agoSINGAPORE — Some fibre broadband users will have to wait until early Friday morning (

9 hours ago

China's stay-at-home shoppers propel luxury sales: Study

Anita Gabriel - Luxury brands will increasingly have to court Chinese shoppers on their home turf, as local purchases soar among a clientele who are forecast to generate nearly half the industry's sales by 2025, a study showed on Thursday.

9 hours ago

Swiss VC Blockchain Valley Ventures to expand fund corpus to $50m to target Asian startups

Kristie Neo - BVV currently has a fund size of $10 million targeting investment opportunities in Europe. The post Swiss VC Blockchain Valley Ventures to expand fund corpus to $50m to target Asian startups appeared first on DealStreetAsia.

9 hours ago

Apple supplier AMS cuts forecast, indicating poor iPhone demand

Ann Williams - Austria's AMS, which makes facial recognition technology, became the latest Apple supplier to cut its revenue forecast, adding to growing evidence that the latest iPhones are not selling well.

9 hours ago

Singapore’s Agritrade Resources to acquire SKS Power for $300m

Ishita Russell - Agritrade will pay outstanding debt of SKS Power to SBI, L&T Infrastructure Finance Company and PTC (India) Financial Services. The post Singapore’s Agritrade Resources to acquire SKS Power for $300m appeared first on DealStreetAsia.

9 hours ago

Liberty Global 'not desperate' to sell Swiss business: CFO

Anita Gabriel - Cable operator Liberty Global is investing to strengthen its Swiss UPC video offering so it could stand alone if a strategic partner isn't found, CFO Charlie Bracken said on Thursday.

9 hours ago

Ford CEO open to investors in autonomous vehicles but cautious on VW

Anita Gabriel - Ford Motor Co Chief Executive Jim Hackett told Reuters the automaker is open to investment by automakers and others in its autonomous vehicle business, but cautioned that expanding partnerships with German automaker Volkswagen AG is a "delicate dance."

9 hours ago

Ride-hailing app TADA rolls out taxi booking service; promises zero commission for cabbies

Anita Gabriel - SINGAPORE: About four months after its launch, ride-hailing app TADA has added taxi booking services to its platform as it seeks to keep up with competition that looks set to intensify with Indonesia-based Go-Jek’s imminent entry. With 2,000 cabbies already on board, users will have access to ...

9 hours ago

Swiss watchdog investigates banks over alleged payments system boycott

Anita Gabriel - Switzerland's competition watchdog WEKO said it had searched offices of Swiss financial companies including Credit Suisse and UBS as it probes a suspected boycott of mobile payment solutions such as Apple Pay and Samsung Pay.

9 hours ago

Keppel Infrastructure Trust confirms Ixom purchase at A$777 million

Annabeth Leow - KEPPEL Infrastructure Trust said on Thursday that it is buying Australian chemicals group Ixom for A$777 million (S$775 million), in a deal that puts Ixom's enterprise value at A$1.1 billion.

9 hours ago

NetLink Trust says most cables restored but admits some telcos still experiencing difficulties

PC Lee - SINGAPORE (Nov 15): NetLink Trust says in an update at 7.02pm on Friday that some telecoms service providers are still experiencing service difficulties although most of the damaged cables have been restored. “As a result, the estimated time of full restoration has been revised to early tomorrow ...

10 hours ago

Grab unveils new remittance service that allows people in Southeast Asia to transfer funds

Ann Williams - SINGAPORE: Grab unveiled on Thursday (Nov 15) a new remittance service that allows people in Southeast Asia to remit money instantly and securely to receivers in another country using their GrabPay wallets. The remittance product was unveiled at the Singapore Pavilion at the 33rd ASEAN Summit ...

10 hours ago

TODAY's evening brief for Thursday, Nov 15

asyrafkamil - 53 min 33 sec ago

10 hours ago

Indonesia surprises with rate hike after weak trade data

Marissa Lee - Indonesia hiked interest rates again Thursday as weak trade data and a slumping currency prompted the central bank to boost borrowing costs for the sixth time this year.

11 hours ago

China sends written response to US trade reform demands: US govt sources

Marissa Lee - WASHINGTON: China has delivered a written response to US demands for wide-ranging trade reforms, three US government sources said on Wednesday (Nov 14), a move that could trigger more formal negotiations to resolve a withering trade war between the world's top economies. US President Donald Trump .. ...

11 hours ago

Asean ‘indispensable, irreplaceable’ partner: US Vice-President Pence

youjin.low - Kenneth Cheng51 min 22 sec agoSINGAPORE — The Association of South-east Asian Nations (Asean) is an “indispensable

11 hours ago

Singapore shares close 0.4 per cent up on Thursday

Wong Kai Yi - SINGAPORE stocks finished 0.4 per cent higher on Thursday, with the Straits Times Index gaining 11.34 points to 3,054.53.

11 hours ago

'Will APEC make us rich?' Summit confuses PNG hosts

Ann Williams - As Papua New Guinea prepares to make its international summit hosting debut, there are lingering concerns about whether one of the Pacific's poorest countries can afford the cost, and if it is able to take advantage of its time in the sun.

12 hours ago

New private home sales plunge 47.7% in October as developers market less projects

Staff Reporter - Submitted By:  Arianna Danganan Case Study:  No This translates to 932 sold units. New private home sales crashed 47.7% MoM to 487 in October from the 932 sold units in September, according to the Urban Redevelopment Authority (URA). The sharp sales decline was brought about by home build ...

12 hours ago

The importance of monitoring EM developments to uncover future opportunities, according to Schroders

Michelle Zhu - SINGAPORE (Nov 15): The dynamism and structural growth story of emerging market (EM) equities may play a crucial role in helping investors meet their goals, according to a recent report by Schroder Investment Management (Singapore). In the view of Schroders investment writer Andrew Rymer, the widel ...

13 hours ago

New private home sales down 36% year-on-year in October

Marissa Lee - SINGAPORE: Sales of new private homes in Singapore fell 36 per cent in October from a year earlier, as there were barely any new launches in the month.  Developers sold 487 units last month - excluding executive condominiums (ECs) - compared with 761 units in October 2017, according to data . ...

13 hours ago

GrabPay wallets to allow instant remittance overseas from early 2019

Claudia Chong - RIDING on its vision to build the “Asean e-wallet” of choice, Grab on Thursday announced a remittance offering that will allow both banked and unbanked users to remit money instantly and securely to receivers in another country using their GrabPay wallets.

13 hours ago

Grab unveils cross-border remittance product, official launch in early 2019

Ka Kay Lum - Grab's new offering will allow both banked and unbanked senders to remit money instantly and securely to recipients in another country using their GrabPay wallets. The post Grab unveils cross-border remittance product, official launch in early 2019 appeared first on DealStreetAsia.

13 hours ago

Singapore, UK and Canada central banks issue joint report on cross-border payments

Leila Lai - THE central banks of Canada, Britain and Singapore on Thursday jointly released a report on cross-border payments and settlements, which provides a framework for assessing transactions in greater depth and discusses how alternative payment models can be implemented.

14 hours ago

Blockchain-based firm MVL Foundation unveils cab booking app TADA Taxi

Jacquelyn Cheok - MVL Foundation, the Singapore-based company behind blockchain-based ride-hailing app TADA, on Thursday launched TADA Taxi.

14 hours ago

LinkedIn partners public agencies, NPOs to help challenged job seekers in Singapore

Michelle Zhu - SINGAPORE (Nov 15): LinkedIn is introducing an extension of its LinkedIn Coaches global programme with the aim of connecting more than 2,000 job seekers facing barriers in Singapore to “economic opportunities with resources and networks to build meaningful careers”. In order to do so, the profe ...

14 hours ago

Swiss competition watchdog probes suspected payment systems boycott

Marissa Lee - Switzerland's competition watchdog WEKO said it had searched offices of Swiss financial companies including Credit Suisse and UBS as it probes a suspected boycott of mobile payment solutions such as Apple Pay and Samsung Pay.