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

Singapore Stock Market News Singapore Business News Singapore Market Updates

2 days ago

Singapore and Hong Kong markets show latent strength

By May 27, the Straits Times Index lost 10 points week-on-week to end at 3,230. Interestingly, the chart pattern is reflecting some latent strength. As a starting point, the STI is attempting to hold on to its peep above the 200-day moving average at 3,219. As a result of the STI�s steady sideways m ...

2 days ago

Chemical Industries H2 net profit up 344% on higher revenue

Claudia Chong - Chemical Industries (Far East), which manufactures and sells chemicals, posted a 344.2 per cent jump in net profit to S$9.4 million for the second half ended March 31, 2022.

2 days ago

Asti seeks 2nd time extension for AGM due to difficulties finalising accounts

Wong Pei Ting - WATCH-LISTED semiconductor manufacturing services company Asti Holdings, which dismissed its chief executive officer in a <a href="https://www.businesstimes.com.sg/companies-markets/asti-ceo-retrenched-a... target="_blank">retrenchment exercise</a> last December, on Frida ...

2 days ago

Exclusive-Japanese buyout firms JIP, Polaris considering bids for Toshiba - sources

TOKYO/HONG KONG : Japanese buyout firms Japan Industrial Partners (JIP) and Polaris Capital Group are each considering participating in bids for Toshiba Corp, two people familiar with the matter said on Friday.Toshiba, which has been bedevilled by accounting and governance crises since 2015, set up ...

2 days ago

China punishes local officials for falsifying economic data

BEIJING : China has punished a number of local officials with demotions or dismissal for falsifying economic data, the country's statistics bureau said on Friday, as part of an effort to curb data fraud as the economy falters.The National Bureau of Statistics (NBS) found data violations in 2020 ...

2 days ago

Singtel’s digital investments must yield dividends, not dead ends

Annabeth Leow - MAINBOARD-LISTED Singtel has charted an ambitious course with its “strategic reset” – a business revamp that management continued to emphasise in a briefing on Friday (May 27).

2 days ago

China's Pinduoduo beats quarterly revenue estimate, warns of slower growth

:Chinese e-commerce platform Pinduoduo Inc on Friday reported better-than-expected quarterly revenue, as more people shopped online due to a resurgence in COVID-19 cases in parts of the country.U.S.-listed shares of the Shanghai-based company rose by nearly 10 per cent at one point in pre-market tra ...

2 days ago

China's Pinduoduo beats quarterly revenue estimates

China's Pinduoduo Inc on Friday reported better-than-expected quarterly revenue, as more people shopped online due to a resurgence in COVID-19 cases in parts of the country.U.S.-listed shares of the Shanghai-based company rose 7 per cent in trading before the bell.As China fights its worst outb ...

2 days ago

China developer Greenland seeks to extend $488 million bond payment - memo

SHANGHAI :State-backed Chinese property developer Greenland Holdings said on Friday it plans to extend the repayment of its $488 million offshore bond maturing in June by one year, according to a transcript seen by Reuters and confirmed by sources who attended an investor call. Shanghai-based Greenl ...

2 days ago

Global equity funds see first weekly inflows in seven weeks

Global equity funds saw money inflows in the week to May 25 as some investors took heart from a rebound in markets this week, after sharp declines in stock markets in the previous seven weeks. According to Refinitiv Lipper, investors bought a net $6.16 billion worth of global equity funds, marking t ...

2 days ago

Weak yen, strong shares bring record profits to BOJ in fiscal 2021

TOKYO : A weak yen and booming stocks brought record profits to the Bank of Japan in the fiscal year that ended in March, dispelling concerns its huge balance sheet exposes it to unwelcome market risk - at least for now.The balance of the central bank's government bond holdings shrank 1.1 per c ...

2 days ago

STI up 0.7% amid regional rally

Kelly Ng - SINGAPORE stocks edged up amid a regional rally on Friday (May 27), with the Straits Times Index (STI) up 0.7 per cent or 21.37 points to 3,230.55.

2 days ago

Thailand aims for pact with Vietnam to raise rice prices

BANGKOK :Thailand and Vietnam are in talks on a pact to raise the price of their rice exports to increase their leverage in the global market and improve farmer incomes, a Thai government official said on Friday. Agriculture officials from Thailand and Vietnam, the world's second and third bigg ...

2 days ago

Thailand, Vietnam aim to increase rice price to boost bargaining power

BANGKOK : Thailand and Vietnam are seeking to jointly increase the price of rice in a move aimed at giving them more leverage in the global market, a Thai government spokesman said on Friday."Cooperation would increase bargaining power of both countries in the world market," said Thanakorn ...

2 days ago

Thailand seeks rice price pact with Vietnam to boost 'bargaining power'

BANGKOK: Thailand and Vietnam are in talks on a pact to raise the price of their rice exports to increase their leverage in the global market and improve farmer incomes, a Thai government official said on Friday (May 27). Agriculture officials from Thailand and Vietnam, the world's second and t ...

2 days ago

Chinese automaker FAW Group considers buying stake in Didi Global - Bloomberg News

:China's FAW Group is considering acquiring a significant stake in Didi Global Inc, Bloomberg News reported on Friday, days after the ride-hailing giant received shareholders' nod to delist from the U.S. in an attempt to appease Chinese regulators.The state-owned automaker has reached out ...

2 days ago

How Broadcom CEO Tan shaped a tech giant through acquisitions

Once a poor "skinny kid" from Malaysia, Hock Tan was going head-to-head with a legendary U.S. technology mogul for a transformative acquisition.Tan placed a call earlier this month to VMware Inc Chairman Michael Dell, also the chief executive of computer maker Dell Technologies Inc.He prop ...

2 days ago

Taiwan lowers 2022 GDP growth forecast, hit by COVID and inflation

TAIPEI : Taiwan's economy is likely to grow at a slower pace this year that initially forecast, the statistics office said on Friday, downgrading its outlook due to global inflation and COVID-19 dampening consumer demand at home and abroad.The downward revision came even as the statistics offic ...

2 days ago

Taiwan revises down 2022 GDP growth forecast, hit by COVID and inflation

TAIPEI : Taiwan's economy is likely to grow at a slower pace this year that initially forecast, the statistics office said on Friday, downgrading its outlook due to global inflation and COVID-19 dampening consumer demand at home and abroad.The revision came as the statistics office raised its e ...

2 days ago

Toyota cuts June output plan again as China lockdowns bite

TOKYO :Toyota Motor Corp on Friday cut its global production plan for June for the second time this week and signalled its full-year output estimate could be lowered, highlighting the pain from the supply chain crunch and China lockdown.Global automakers' production has been hit by the microchi ...

2 days ago

Toyota cuts June output plan again, to 800,000 vehicles

TOKYO :Japan's Toyota Motor Corp on Friday cut its global production plan for June for the second time this week, reducing its planned output by about 50,000 vehicles to 800,000, citing the COVID-19 lockdown in Shanghai.Japan's largest automaker said it still expects to produce 9.7 million ...

2 days ago

Toyota cuts production plan for June again, to 800,000 vehicles

TOKYO :Japan's Toyota Motor Corp on Friday cut its global production plan for June for the second time this week, reducing its planned output by about 50,000 vehicles to 800,000, citing the COVID-19 lockdown in Shanghai.Japan's largest automaker said it still expects to produce 9.7 million ...

2 days ago

SIAS says no objection to Hwa Hong appointing IFA ahead of independent reviewer

Tan Nai Lun - THE Securities Investors Association (Singapore), or Sias, on Friday (May 27) said it does not object to Hwa Hong Corporation’s appointment of an independent financial adviser (IFA), ahead of its appointment of an independent reviewer.

2 days ago

Pakistan dollar bonds jump after fuel price hike paves way for IMF funds

LONDON : Pakistan's sovereign dollar bonds jumped more than 3 cents on Friday after the government announced a decision to hike fuel prices, a move expected to unlock more funding from the International Monetary Fund (IMF). The 2027 bond gained 3.5 cents to trade at 72.26 cents in the dollar wh ...

2 days ago

Take Five: All about the data

LONDON : It's all about the data. Investors are assessing how much U.S rate hikes are biting, whether euro zone inflation is near peaking and how damaging China's COVID lockdowns are for the world's No.2 economy.So, just as markets end a turbulent May, U.S. payrolls, European inflatio ...

2 days ago

Brokers’ take: UOBKH downgrades Maybank to ‘hold’ on limited price upside

Tan Nai Lun - UOB Kay Hian downgraded its call on Malayan Banking (Maybank) to “hold” as current valuations are likely fair and its share price may have limited upside potential.

2 days ago

BOJ discloses steps on climate change in business report

TOKYO : The Bank of Japan included information on measures it is taking to combat climate change, such as figures on its energy use and carbon dioxide emissions, as part of its annual business report released on Friday.The disclosure came amid growing awareness among central banks on the need to pla ...

2 days ago

Chinese city Zhaoqing eases rules to support property developers' cashflow

HONG KONG : China's southern city of Zhaoqing said it will ease rules on property developers' escrow accounts and boost financial support to promote stable, healthy development of a debt-strapped sector that has been a key engine of the country's economic growth.Analysts said the thir ...

2 days ago

Incoming Philippine Finance Minister does not favour tax hikes to tackle debt

MANILA : Philippine central bank governor Benjamin Diokno, who takes on a new role as finance secretary next month, said on Friday he does not favour raising taxes even as the incoming government is set to inherit a huge pile of debt..Diokno, who is President-elect Ferdinand Marcos's choice to ...

2 days ago

Singtel expects rebound in core business, after 4.9% rise in underlying H2 earnings

Annabeth Leow - SINGTEL is banking on a travel recovery, as well as easing competition in regional markets, to shore up its top line in the year ahead, the telco’s management has said.

2 days ago

Google in talks to join India's open e-commerce network ONDC -sources

NEW DELHI : Alphabet Inc's Google is in talks with the Indian government to integrate its shopping services with the country's open e-commerce network ONDC, two sources familiar with the matter told Reuters.Late last month India soft-launched its Open Network for Digital Commerce (ONDC) as ...

2 days ago

IMF funding hopes lift Pakistan stocks, bonds as government scraps fuel price freeze

KARACHI :Pakistan's stocks, sovereign bonds and currency were lifted on Friday by growing hopes that the country can unlock funding from the International Monetary Fund after the government's overnight decision to end a months-old freeze on fuel prices.Pakistani stocks jumped more than 2 p ...

2 days ago

Pakistani stocks jump after government scraps fuel price freeze

KARACHI :Pakistani stocks jumped more than 2 per cent on Friday after an overnight decision by the government to end a months-old freeze on fuel prices, unlocking aid from the International Monetary Fund.Pakistan late on Thursday announced it would hike fuel prices after an agreement with the IMF th ...

2 days ago

Pakistani stocks jump over 2% as government ends fuel price freeze

KARACHI :Pakistani stocks jumped more than 2 per cent shortly after opening on Friday, reacting positively to an overnight decision by the government to end a months-old freeze on fuel prices.Pakistan late on Thursday announced it would hike fuel prices so that it can resume receiving aid from a $6 ...

2 days ago

Pakistani stock market jumps over 2% after government ends fuel price freeze

KARACHI, Pakistan : The Pakistani stock market jumped over 2 per cent shortly after opening on Friday, reacting positively to an overnight decision by the government to end a months-old fuel price freeze."The market is reacting to the government's move to withdraw fuel subsidies. It shows ...

2 days ago

Singapore services receipts up 13.2% in Q1

Tessa Oh - SINGAPORE’S services industries saw business receipts rise 13.2 per cent year on year for the first quarter, according to the Department of Statistics (Singstat) on Friday (May 27).