Business Headlines & Singapore Stock Market News | SGinvestors.io

Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

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Banks and funds will never quite be forex friends

Today - LONDON - On U.S. election day last November, banking executive David Puth stood in line behind Woody Allen to vote in his Manhattan neighborhood and then got on a plane to be shouted at for the rest of the day by a group of rich fund managers. ...

Stamford Land swings back to profitability in 4Q

Jude Chan - SINGAPORE (May 25): Stamford Land Corporation posted earnings of $8.9 million for the fourth quarter ended March, reversing out of a loss of $5.0 million recorded in the corresponding quarter last year. Group revenue more than doubled to $166.0 million in 4Q17, from $60.5 million a year ago. This wa ...

Nigeria oil minister says not opposed to eventually joining output cuts

Today - Vienna - Nigerian Oil Minister Emmanuel Ibe Kachikwu said on Thursday that conceptually Nigeria was not opposed to joining OPEC production caps but would have to wait and see if production came back to acceptable levels. "We are targeting that...

Asian currencies firm after Fed minutes, US$ flat at S$1.3846

Today - SINGAPORE - Asian currencies are holding firm against the greenback on Thursday (May 25) after the minutes of the United States Federal Reserve's last meeting showed the central bank's policymakers favouring a gradual approach to interest rate hikes. The...

Banks lead Singapore stocks higher; STI gains 0.1% to 3,234.37

Kenneth Lim - FINANCIALS led the Singapore stock market to a modest gain on Thursday, with the Straits Times Index (STI) nudging up 0.1 per cent or 3.13 points to 3,234.37.

Malaysia: Stocks end higher

Malaysian shares closed higher on Thursday with the Kuala Lumpur Composite Index gaining 2.95 points to 1,773.960.

UK mortgage approvals slip in April, consumer borrowing speeds up - BBA

[LONDON] British banks approved the fewest mortgages in five months in April and the value of home loans grew at the slowest pace since August, industry figures showed, adding to signs of a slowdown in the housing market.

Could VIP business be a winning card for Genting Singapore?

VIP rolling chip volumes could bottom out this year. Over the past couple of years, VIP players across Asia have gotten casinos out of their system as Chinese government began embarking on an anti-corruption and austerity drive. According to DBS Group Research, with these players trying to avoid go ...

All aboard India's new luxury affordable train

India's passenger trains are notorious for being rickety and spartan, but the government is hoping to change all that with a new "luxury" service.

Venezuela says OPEC's task is stabilize oil market and force inventory-draw

Today - VIENNA - The most important issue for OPEC is to stabilize the oil market and prompt a draw on global inventories, Venezuela's oil minister Nelson Martinez said on Thursday. "The most important issue is to regulate and stabilize the market ......

New Zealand unveils tax-cutting election-year budget

New Zealand on Thursday unveiled a tax-cutting election-year budget that the ruling National Party said will help families as it looks to win a record fourth consecutive term in power.

UK economy slows more than expected in Q1 as inflation hits

[LONDON] Britain's economy slowed more than previously thought in the first three months of 2017 as rising inflation boosted by last year's Brexit vote took a toll on household spending, official figures showed on Thursday.

Kuwait minister says expects nine-month extension to OPEC-led oil output cuts

Today - VIENNA - Kuwaiti Oil Minister Essam al-Marzouq said on Thursday he did not expect OPEC oil producers to discuss any deepening of their oil output reduction target at a meeting where extending the length of the deal is on the agenda. Marzouq...

Stay focused on underlying economics, not politics-driven market dips: Manulife

Jude Chan - SINGAPORE (May 25): Global markets continued to rally in April following Emmanuel Macron’s landslide victory in the French presidential election. But Manulife Asset Management believes that while investors are right to capitalise on politics-driven market dips, they should stay focused on the unde ...

Equatorial Guinea approved as latest OPEC member: source close to oil minister

Today - CAPE TOWN - Africa's third-biggest oil producer, Equatorial Guinea, has been accepted as a new member of the Organization of the Petroleum Exporting Countries (OPEC), a source close to the country's oil minister told a Reuters on Thursday. ...

Hong Kong: Stocks end up for fourth day

[HONG KONG] Hong Kong stocks climbed for a fourth successive day Thursday, tracking a Wall Street record on expectations the Federal Reserve will lift interest rates next month, while dealers brushed off a ratings downgrade for the city by Moody's.

Noble Group foe Muddy Waters asks when 'last wheel' may fall

Bloomberg - (May 25): Noble Group will almost certainly have to undergo a restructuring as the commodity trader battles for survival, according to Muddy Waters LLC founder Carson Block, who’s shorted the company before but says right now he doesn’t have bets against it. “They’re going to have a hard tim ...

What keeps StarHub's payTV business alive?

Staff Reporter - The telco has a strong foothold on hotels. Whilst StarHub's payTV business has been in the slump for the past few quarters due to the rise of Netflix, the telco's partnership with hotels has kept its tv venture alive and kicking. According to DBS Group Research, when Netflix entered the Sin ...

Google's AlphaGo clinches series win over Chinese Go master

[SHANGHAI] Google's artificial intelligence program, AlphaGo, beat Chinese Go master Ke Jie for a second time on Thursday, taking an unassailable 2-0 lead in a best of three series meant to test the limits of computers in taking on humans at complex tasks.

Uber Is A Ponzi Scheme?

CoffeeTalk - Have we been hitching rides from a Ponzi scheme?

Europe: Stocks rise at open

[LONDON] Europe's main stock markets rose at the open on Thursday, taking their cue from firmer prices in Asia and on Wall Street overnight, traders said.

OPEC meets to extend oil cuts for up to one year

Today - VIENNA - OPEC and non-member oil producers are gearing up to extend output cuts on Thursday, possibly by as long as 12 months, to help clear a global stocks overhang and prop up crude prices. The Organization of the Petroleum Exporting...

Here's what could buoy consumer prices this year

Staff Reporter - This year’s overall higher exports and commodity prices is one. Singapore’s consumer price index (CPI) growth slowed to 0.4% YoY in April, caused mainly by differences in the disbursement schedule of service & conservancy charges rebates compared to last year. According to RHB, CPI ...

Singapore economy eases to a 2.7% growth in Q1

Staff Reporter - It came from a strong 2.9% expansion in March. The city-state saw its economy expand yet again in the first quarter of the year. According to the latest figures from the Ministry of Trade and Industry (MTI), Singapore economy grew by 2.7% year-on-year. However, this was a slight ease from the 2.9% ...

China: Blue-chips have best day in 21 months

[SHANGHAI] China stocks rebounded sharply on Thursday, as the blue-chip CSI300 index posted its best day in 21 months amid growing hopes that global index provider MSCI Inc will add mainland shares to its benchmark next month.

Jimmy Ng: 5 Key Takeaways That I Picked Up From Reviewing My Noble Trade

Jimmy Ng - Noble Group’s (Noble) share price plunged 56 percent from its closing price of $1.295 on 9 May to a low of $0.57 on 15 May just within a short span of three trading days, before making a sharp recovery to a recent high at $0.74 on 18 May with 624.5 million shares changing hands.

Noble Group in need of restructuring: Muddy Waters

[SINGAPORE] Noble Group Ltd will almost certainly have to undergo a restructuring as the commodity trader battles for survival, according to Muddy Waters LLC founder Carson Block, who's shorted the company before but says right now he doesn't have bets against it.

May to raise US terror intelligence leaks with Trump at NATO

[LONDON] Prime Minister Theresa May will raise British concerns over leaks of intelligence related the Manchester terror attack with President Donald Trump after UK authorities stepped up their criticism of US intelligence officials for what they see as a breach of trust.

Singapore's robust headline indicators feared to be transitory

Staff Reporter - Submitted By: Staff Reporter Case Study: No Headline prints are subject to higher concentration risks. Standard Chartered Global Research put rosy headlines into question by constructing Broadness Indices (BIs) to measure the concentration of growth increase in or decline in industrial ...

Australia: Stocks up on boost from financials, materials

[SYDNEY] Australian shares closed higher on Thursday as financial and material firms supported a market that has been subdued over the past two days.

Japan:Nikkei rises as strong-yen trend pauses

[TOKYO] Japanese stocks rose on Thursday as the strong-yen trend paused, while a surge in index-heavyweights such as SoftBank supported sentiment.

Singapore shipyards secured S$820m in new orders in 2016, down from S$4.9b in 2015

Angela Tan - SINGAPORE shipyards secured some S$820 million in new orders last year, a sharp drop compared to the S$4.9 billion contracted in 2015, the Association of Singapore Marine Industries (ASMI) said.

Lenovo's profit tops estimates as pc market levels off

[BEIJING] Lenovo Group Ltd's quarterly profit fell less than expected after the global personal computer market eked out growth for the first time since 2012.

U.S. oilfield service firms lag shale recovery; old deals hold

Today - HOUSTON - U.S. oil services companies have been doing a lot more work as recovering oil prices have lifted the shale industry from a two-year slump, but producers have been pocketing much of the new cash generated by rising output and squeezing service...

South Korea's new president draws ire of small businesses he's vowed to help

[SEOUL] Small businesses in South Korea their fear profits could be cut to the bone and some could be forced to close if the country's new president pushes ahead with plans to raise minimum wages, restrict contract staff numbers and reduce working hours.

US oilfield service firms lag shale recovery; old deals hold

U.S. oil services companies have been doing a lot more work as recovering oil prices have lifted the shale industry from a two-year slump, but producers have been pocketing much of the new cash generated by rising output and squeezing service providers to keep costs down.

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