1 day ago
China's new Silk Road gets bumpy as Xi visits Italy
Chinese President Xi Jinping kicks off a whistlestop European tour in Rome on Friday amid growing Western unease over Italy joining the ever-expanding Asian giant's new Silk Road project.
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
1 day ago
Thomas Cook to shut 21 stores and cut jobs in shift to online
British travel company Thomas Cook plans to axe 320 jobs and close 21 stores in its UK retail network to cut costs as consumers increasingly shop online, it said on Friday.
1 day ago
India's SpiceJet in talks with lessors to induct aircraft
Navin Sregantan - REUTERS: India's SpiceJet Ltd said on Friday it was in talks with lessors globally to induct aircraft, in an effort to fill a gap after the grounding of its MAX fleet. The airline was forced to ground its 12 Boeing Co 737 MAX 8 planes by India's aviation watchdog due to safety concerns after an ...
1 day ago
Australia's Myer department stores to stop selling Apple products
Navin Sregantan - Australian department store Myer will stop selling Apple Inc products due to the sales being unprofitable, operator Myer Holdings said on Friday.
1 day ago
Hun Sen denies Cambodia is Chinese 'colony' as work on US$2 billion road begins
Navin Sregantan - Cambodia broke ground Friday on a $2 billion Chinese-funded expressway -- the country's first -- as strongman premier Hun Sen denied his country was in danger of becoming a colony of Beijing.
1 day ago
EY Singapore launches 18th edition of Entrepreneur Of The Year awards
Chan Chao Peh - SINGAPORE (Mar 22): The search has started for the 18th EY Entrepreneur Of The Year, as part of the bid to promote entrepreneurship and shape a new role model for the business community. Ernst & Young LLP, organiser of the annual awards, observes that entrepreneurs in Singapore, and the world, ...
1 day ago
Singapore shares end flat on Friday, but up 0.3% on the week
Navin Sregantan - MOST markets in Asia barely moved on Friday though they took early leads from a Wall Street rally that boosted investor confidence as attention slowly moved on to next week's round of US-China trade talks.
1 day ago
Australia's Myer department stores says to stop selling Apple products
Navin Sregantan - Australian department store Myer will stop selling Apple Inc products due to the sales being unprofitable, operator Myer Holdings said on Friday.
1 day ago
Singapore’s Challenger Tech gets take-private offer from Dymon Asia
Kristie Neo - The private equity firm-backed group has made a cash exit offer for all of its shares at S$0.56 per share ($0.42 per share). The post Singapore’s Challenger Tech gets take-private offer from Dymon Asia appeared first on DealStreetAsia.
1 day ago
US corporate breakups could be catalyst to change Dow index
Shake-ups come infrequently for the Dow Jones Industrial Average, but some degree of change may be in the works for the stock index as two of its 30 constituents prepare to transform from large conglomerates into smaller companies.
1 day ago
Challenger Tech's 2.94% shareholder says offer price too low, calls for higher dividend payouts
Benjamin Cher - SINGAPORE (Mar 22): Pangolin Investment Management, which holds a 2.94% stake in Challenger Technologies through its Pangolin Asia Fund, is calling on other shareholders to reject Digileap Capital’s delisting offer at the company’s upcoming EGM. Pangolin says the offer price of 56 cents per ...
1 day ago
Apple's iPhone struggles unravel ambitions of Japan Display
Navin Sregantan - When Japan Display Inc broke ground on a new factory in central Japan in 2015, the future looked bright for one of the world's top vendors of liquid crystal display (LCD) panels.
1 day ago
Nursery supplier found guilty of giving bribes worth S$143,000 to Island Landscape director
yasmine.yahya - Alfred Chua47 min 35 sec agoSINGAPORE — He gave the director of a landscaping and plant nursery company S$143,000
1 day ago
Daimler taps Goldman to raise China BAIC shareholdingsources
Navin Sregantan - Daimler has asked Goldman Sachs to help it explore increasing its stake in Chinese carmaker BAIC Motor Corp, its main China joint venture partner, two people with knowledge of the matter said.
1 day ago
Trial of John Soh starts on Monday; here's the backstory
Benjamin Cher - SINGAPORE (Mar 22): The long-awaited trial of John Soh, the alleged mastermind behind the manipulation of shares in Blumont, LionGold and Asiasons Capital (now Attilan Group) back in 2013, will start on Monday. Together with his alleged co-conspirator and girlfriend Quah Su-Ling, he will face evide ...
1 day ago
Hunting for the truth redux: Our coverage of the penny stock saga attracted threats and lawsuits
Ben Paul - SINGAPORE (Mar 22): If there’s one story published by The Edge Singapore that I will never forget, it will probably be “Hunting for the truth” (Issue 641, Sept 1, 2014). The piece was intended to mark the first anniversary of the steep rise and sudden collapse of shares in Asiasons Capital, B ...
1 day ago
This local start-up is using soft robotics to help rehabilitate the hands
Jeffrey Tan - SINGAPORE (Mar 22): Roceso Technologies designs and manufactures robotic gloves that are used to help stroke or spinal cord injury patients regain function in their hands through neurological and muscle rehabilitation. Called EsoGlove, the patent-pending device assists patients in conducting variou ...
1 day ago
Beyond the industry glitz of 'influencer' marketing
Pauline Wong & Samantha Chiew - SINGAPORE (Mar 22): The global influencer industry is one that is poised to reach US$10 billion in size by 2022, according to the Influencer Marketing Report from Business Insider Intelligence. Google searches for the term “influencer marketing” increased 325%, from 6,460 searches a month in ...
1 day ago
Top Glove Q2 profit dips 3% to RM105.8m on finance costs
Tay Peck Gek - DESPITE a 21 per cent increase in revenue to RM1.16 billion (S$386.7 million), Singapore-listed Malaysia company Top Glove turned in a marginally lower net profit of RM105.8 million for the second quarter ended Feb 28, as finance costs increased more than seven times.
1 day ago
Goldman Sachs raises chances of no-deal Brexit after UK PM's late reprieve
Navin Sregantan - Goldman Sachs on Friday lowered its expectations of UK Prime Minister Theresa May's Brexit deal getting ratified, and hiked its estimate of the chances of a "no-deal" exit from the European Union.
1 day ago
EasyJet readies Brexit contingency plan to meet ownership rules
Navin Sregantan - British low-cost airline EasyJet said on Friday it was ready to suspend the voting rights of a small number of shares to comply with rules that require 50 percent plus one share of the company to be owned by EU shareholders following Brexit.
1 day ago
Leverage is fine if you are not ignorant
Tong Kooi Ong - (Mar 25): To borrow a quote from Warren Buffett: “When you combine ignorance and leverage, you get some pretty interesting results.” Followers of this column would recall that I spent the past two weeks discussing prevailing reporting standards for financial statements and how they can, at time ...
1 day ago
Two-year prohibition orders against former Citi relationship manager halved upon appeal
Rachel Mui - THE Minister in Charge of the Monetary Authority of Singapore (MAS) has reduced prohibition orders (PO) against former Citibank relationship manager, Zheng Xuemei, from two years to one year, following her appeal.
1 day ago
Top Glove posts 2.9% lower 2Q earnings of $35.3 mil despite strong revenue growth
Michelle Zhu - SINGAPORE (Mar 22): Top Glove has reported RM105.8 million ($35.16 million) in earnings for the 2Q ended Feb, representing a 2.9% y-o-y decline from its 2Q18 earnings of RM109 million due to higher finance costs and taxes, as well as lower associate contributions. This brings the group’s earnings ...
1 day ago
Recalcitrant rioter jailed more than five years for string of offences
yasmine.yahya - Alfred Chua Ming Feng36 min 5 sec agoSINGAPORE — While he was out on police bail for an earlier offence of extortion, an I
1 day ago
MindChamps acquires Punggol Northshore centre for $3.8 mil
Michelle Zhu - SINGAPORE (Mar 22): MindChamps PreSchool’s Singapore subsidiary is fully acquiring MindChamps PreSchool @ Punggol Northshore from the centre’s owner, known as Chen Han, for a total consideration of $3.79 million. In a filing on Friday, MindChamps PreSchool says the latest acquisition comes in l ...
2 days ago
Eisai starts phase 3 trials for second Alzheimer's drug after first's failure
Marissa Lee - TOKYO: Eisai Co Ltd on Friday said it has begun phase 3 clinical trials of Alzheimer's treatment BAN2401, a day after the Japanese drugmaker and U.S. partner Biogen Inc scrapped trials for another Alzheimer's drug, aducanumab. The aducanumab announcement knocked US$18 billion of Biogen's stock ...
2 days ago
Sembcorp looking to supply YCH Group's warehouses in Asia with solar power
Vivienne Tay - SEMBCORP Industries on Friday said it is working together with YCH Group on supplying its warehouses across Asia with solar power, as it announced the completion of a rooftop solar farm at YCH's Supply Chain City flagship building.
2 days ago
Sembcorp looking to supply YHC Group's warehouses in Asia with solar power
Vivienne Tay - SEMBCORP Industries on Friday said it is working together with YCH Group on supplying its warehouses across Asia with solar power, as it announced the completion of a rooftop solar farm at YCH's Supply Chain City flagship building.
2 days ago
PUB to take over Tuaspring plant if Hyflux cannot fix defaults by April 5
PC Lee - SINGAPORE (Mar 22): PUB says it will terminate the water purchase agreement with Hyflux subsidiary Tuaspring Pte Ltd (TPL) if the water treatment firm is not able to fix its defaults by April 5. In addition, PUB says it will also start the process of taking over its Tuaspring desalination plant, ad ...
2 days ago
UPS eyes in-home health services with US vaccine project
Marissa Lee - United Parcel Service Inc wants to get beyond U.S. doorsteps with a new push into healthcare.
2 days ago
Singapore stocks: STI resumes Friday afternoon at 3,212.19, down 0.01% on day
Rachel Mui - SINGAPORE stocks resumed afternoon trading in negative territory on Friday, with the Straits Times Index losing 1.46 points, or 0.05 per cent to 3,212.19 as at 1.02pm.
2 days ago
China's auto, internet giants set up 9.76 billion yuan fund to invest in ride-sharing industry
Marissa Lee - China's major automobile and internet companies, including Chongqing Changan Automobile, Alibaba and Tencent, are setting up a 9.76 billion yuan (US$1.46 billion) joint venture to invest in ride-sharing industry, Chongqing Changan Automobile said on Friday.
2 days ago
Camsing Healthcare, Top Glove call for trading halt ahead of announcements
Tay Peck Gek - CAMSING Healthcare has requested a trading halt on Friday morning, pending the release of an announcement.
2 days ago
Wilmar's China unit set for $12-13b market cap upon Shanghai IPO: analyst
Staff Reporter - Submitted By: Danielle Isaac Case Study: No It is backed by its ARAWANA brand for cooking oil, pack rice, flour, and pack dry noodles. Wilmar China’s listing on the Shanghai Stock Exchange is expected in the fourth quarter of 2019 and could likely be the largest listed vegetable o ...
2 days ago
Singapore’s B Capital adds former Apple exec as new partner
Mars Woo - B Capital's other partners are Saverin, Raj Ganguly, Gavin Teo, Kabir Narang, Allen Duan, and Virginia Schmitt. The post Singapore’s B Capital adds former Apple exec as new partner appeared first on DealStreetAsia.