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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10 hours ago

Robinhood sparks buzz on Reddit, shares up 15per cent

Annabeth Leow - Shares of Robinhood Markets Inc jumped more than 15per cent in premarket trading on Wednesday as interest from star fund manager Cathie Wood and small-time traders set up the stock for a fourth session of gains after its poorly received IPO last week.

10 hours ago

Italy's ERG says only minor disruption from cyber breach

Michelle Quah -

10 hours ago

Far East Orchard's losses widen to $1.9 million in 1HFY21 as Covid-19 rages on

Amala Balakrishner - Far East Orchard’s losses deepened to $1.9 million in 1HFY21 ended June, from the $0.9 million registered in the previous year. On a fully diluted basis, this translates to losses per share of 0.41 cents in 1HFY21, compared to 0.19 cents in the previous year. With this, the group’s net asset val ...

10 hours ago

SPH appoints Evercore Asia (Singapore) as independent financial adviser for proposed privatisation deal

Claudia Tan - SINGAPORE Press Holdings (SPH) on Wednesday announced that it had appointed Evercore Asia (Singapore) as its independent financial adviser to advise the company's independent directors on the proposed acquisition by Keppel Corporation for the purposes of making a recommendation to shareholders ...

10 hours ago

Food processing company fined S$15,000 after rat droppings found in storage, processing areas

asyrafkamil -

10 hours ago

Far East Orchard's half-year net loss widened to S$1.9m

Claudia Tan - FAR East Orchard's net loss for the half year ended June 30 widened to S$1.9 million from S$853,000 the previous year as the pandemic continues to weigh on its hospitality business amid persistent lockdowns and border closures.

10 hours ago

BRC posts S$10.2m Q3 net profit, reversing year-ago loss

Sharanya Pillai - STEEL-solutions provider BRC Asia recorded a S$10.2 million net profit for Q3 ended June, reversing its loss of S$2.5 million a year ago, thanks to the recovery in the construction sector.

10 hours ago

Betsy Cohen's SPAC to take tech firm Pico public in US$1.75 billion deal

Michelle Quah -

10 hours ago

Numbers low in Thailand's Phuket tourism revival bid - official

Michelle Quah - Visitors to Thailand's resort island of Phuket in July were at just 1per cent of pre-pandemic levels, an official told Reuters, as a bid to revive tourism to the Southeast Asian country gets off to a slow start amid its biggest COVID-19 outbreak yet.

11 hours ago

JDE Peet's says coffee lovers can swallow higher prices

Michelle Quah -

11 hours ago

Commodities bounce brings bonanza to Japan's trading houses

Michelle Quah - Japan's trading houses are riding a commodities boom as major economies recover from the pandemic, with Itochu this week reporting record quarterly profit and three others raising their earnings forecasts.

11 hours ago

Thai central bank keeps rate at record low, cuts GDP outlook amid COVID surge

Michelle Quah - BANGKOK :Thailand's central bank left its key interest rate unchanged at a record low on Wednesday in a split vote and slashed its 2021 economic growth forecast as the Southeast Asian country struggles with its biggest wave of COVID-19 infections to date.

11 hours ago

OKP's H1 net profit down 39.4% as government support tapers off

Claudia Tan - CONSTRUCTION player OKP Holdings' net profit dipped 39.4 per cent to S$976,000 for the half year ended June 30 from S$1.6 million in the previous year, due in part to lower payouts and rebates from the government.

11 hours ago

China market regulator launches probe into fertiliser firms

Michelle Quah -

11 hours ago

GYP Properties' subsidiary enters agreement to sell land parcel at Queenstown for NZ$15 million

Amala Balakrishner - Remarkables Residences – the subsidiary of real estate developer GYP properties – has entered an agreement with Classic Developments for the sale of part of the land parcel at 1, Corner of Shearers Road and Munro Road, Frankton at Queenstown, New Zealand for NZ$15 million ($14.2 million). The ga ...

11 hours ago

ST Engineering, Temasek set up freighter leasing JV amid e-commerce boom

Sharanya Pillai - DEFENCE and technology group ST Engineering has set up a joint venture (JV) with Temasek for freighter leasing. This will address the growing demand for freighter aircraft as e-commerce and air cargo volumes expand globally, ST Engineering announced on Wednesday.

12 hours ago

Huawei CFO's US extradition case begins final weeks of hearings in Canadian court

Michelle Quah -

12 hours ago

ST Engineering sets up freighter leasing joint venture with Temasek

Amala Balakrishner - Singapore Technologies (ST) Engineering incorporated its joint venture company (JV), Juniper Aviation Investments on August 4 with an initial paid-up capital of US$2 ($2.70). Temasek and ST Engineering Aerospace Resources – a subsidiary of ST Engineering – each have a 50% stake in the JV. The JV ...

12 hours ago

Brazil retailers hunt for M&A deals to compete for e-commerce dominance

Michelle Quah - In March last year, Oziel da Silva Santos needed a new TV but with stores closed due to COVID-19 restrictions in Brazil's northern city of Belem, the 50-year old was clueless about how to get one. He followed a link on the website of furniture retailer Via Varejo and called a store manager.

12 hours ago

Keppel unit enters joint venture with Chinese developer to manage investment properties in China

Claudia Tan - KEPPEL Land China has, through its indirect wholly-owned subsidiary Keppel Yong Da Property Management (Shanghai), entered into a joint venture (JV) with a Chinese developer to jointly manage investment properties with potential for asset enhancement initiatives (AEI) in China.

12 hours ago

Insurance agent found guilty of molesting junior colleague after door-to-door sales

gordon.feeney -

12 hours ago

STI tracks Wall Street gains, rises 1.07%

Tay Peck Gek - SINGAPORE stocks took the cue from Wall Street overnight gains, and rallied together with several Asian markets on Wednesday.

12 hours ago

Toyota, Honda beat profit estimates but are wary of extended chip crunch

Raphael Lim - Toyota Motor Corp reported on Wednesday a first-quarter operating profit of 997.49 billion yen (US$9.15 billion), up from 13.9 billion yen a year earlier as pandemic-hit sales rebounded and it weathered a global chip supply shortage better than many rivals.

12 hours ago

The route less travelled: private aviation eyes limited direct flights to lure execs

Michelle Quah - Private aviation companies are making a beeline for executives wary of flying commercial to business meetings due to a limited offering of direct flights, as corporate travel eases back this fall after a pandemic-induced slump.

12 hours ago

Sony's profits gain on Demon Slayer, digital camera demand

Michelle Quah -

12 hours ago

92 new locally transmitted Covid-19 cases in Singapore, including 30 unlinked infections

tessa.oh -

12 hours ago

Diving: Singapore's Freida Lim finishes last in Tokyo Olympics 10m platform prelims

asyrafkamil -

12 hours ago

Chinese state media tone down criticism of video game industry

Michelle Quah -

12 hours ago

Keppel plays another lead role in ongoing remaking of Singapore Inc

Jeffrey Tan - Even before the dust has settled on the potential combination between Keppel Offshore & Marine (Keppel O&M) unit and Sembcorp Marine (Sembmarine), Keppel Corp has moved on to its next target. In the process of making these big moves, Keppel, which can trace its roots to the naval shipyard le ...

13 hours ago

Amazon launches free one-day delivery in Brazil amid fierce competition

Michelle Quah - E-commerce giant Amazon.com Inc started to offer its Brazilian Prime subscribers free one-day delivery in 50 cities on Wednesday, amid fierce market competition in Latin America's largest economy.

13 hours ago

Myanmar limits foreign hires in banks in troubled financial sector

Michelle Quah -

13 hours ago

StarHub launches free 5G standalone market trial

Samantha Chiew - StarHub Mobile customers can now tap into the full potential of 5G technology through StarHub’s free 5G Standalone (SA) market trial. With StarHub switching on 5G SA coverage across the island from today, new and re-contracting Mobile+ and Biz+ subscribers with StarHub’s 5G SIM cards and compati ...

13 hours ago

EDB MD Chng Kai Fong to step down in Oct, succeeded by Jacqueline Poh

Jeanette Tan - THE managing director of Singapore's Economic Development Board (EDB) Chng Kai Fong will be stepping down from the helm of the statutory board when his term ends in early October.

13 hours ago

EDB chief Chng Kai Fong steps down, to be succeeded by Jacqueline Poh on Oct 4, 2021

Jeanette Tan - MANAGING director of Singapore's Economic Development Board (EDB) Chng Kai Fong will be stepping down from the helm of the statutory board when his term ends in October.

13 hours ago

Analysis-Reality bites: China's meddling cools but can't reverse hot commodity prices

Michelle Quah - A slew of measures by Chinese authorities to tame soaring raw material costs has had only a fleeting effect, leaving the world's largest manufacturing base facing the harsh reality of substantially higher input costs for the foreseeable future.

13 hours ago

UOB Kay Hian adds Genting Singapore to its alpha picks portfolio, removes GHY Culture & Media

Atiqah Mokhtar - UOB Kay Hian has added Genting Singapore to its Alpha Picks after the portfolio saw a flat performance for the month of July versus the Straits Times Index (STI). “On both price- and market cap-weighted basis, our Alpha Picks portfolio rose 1.3% and 1.5% respectively and was in line with the STI†...