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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16 hours ago
Apple asks suppliers to shift some AirPods, Beats production to India: Report
Apple is asking its suppliers to move some AirPods and Beats headphone production to India for the first time, the Nikkei newspaper reported on Wednesday (Oct 5). 
16 hours ago
STMicroelectronics: new Italy plant will create around 700 jobs
PARIS : Technology and semiconductor company STMicroelectronics said on Wednesday that its plans to build a site in Italy that will create around 700 new jobs.The European Commission had earlier said it had approved a 292.5 million euro ($292 million) grant for the project.($1 = 1.0032 euros)
16 hours ago
South East CDC to provide cost of living benefits through NFTs
Nurdianah Md Nur - The South East Community Development Council (South East CDC) will provide cost of living benefits through non-fungible tokens (NFTs) by local blockchain company LifesDAO. The NFTs will be distributed over 10 years and sum up to $60,000.In the first year of the partnership, Social Purpose Entities, ...
16 hours ago
Government grant impact tracked by measures such as skilled jobs creation
Paige Lim - INDICATORS such as committed value-add and projected skilled jobs creation are used to measure the economic impact of grant projects undertaken by small and medium-sized enterprises (SMEs), said Minister of State for Trade and Industry Low Yen Ling in Parliament on Wednesday (Oct 5).
16 hours ago
Thai business group revises 2022 GDP growth outlook to 3.0-3.5%
BANGKOK : Thailand's economy is expected to grow 3.0 per cent to 3.5 per cent this year, a slight improvement from a previous forecast of 2.75 per cent to 3.5 per cent, helped by a pickup in the vital tourism sector, a leading joint business group said on Wednesday.The number of foreign tourist ...
17 hours ago
Japan to curb electricity costs amid weak yen, recession risks, PM says
TOKYO : Japan will take "unprecedented" measures to curb rising electricity bills for households and businesses as a weak yen fans inflation and global recession fears pose big risks to the economy, Prime Minister Fumio Kishida told parliament on Wednesday."Rising energy and food pric ...
17 hours ago
Important for Japan to link weak yen to tourism recovery, PM Kishida says
TOKYO : It is important for Japan to connect the weak yen to economic revitalisation through a recovery of inbound tourism and bringing companies back to the country, Prime Minister Fumio Kishida told parliament on Wednesday.Kishida added that specific monetary policy moves, such as an exit from eas ...
17 hours ago
Rate hike bonanza among major central banks hits two decade peak in September
LONDON: Major developed central banks delivered in September rate hikes at a pace and scale not seen in at least two decades, ramping up their fight against multi-decade high inflation with little let-up in sight. Central banks overseeing eight of the 10 most heavily traded currencies delivered 550 ...
17 hours ago
Singapore retail sales up 13% in August, extending July’s growth
Tessa Oh - SINGAPORE’S retail sales continued to rise year on year in August, but declined on a seasonally-adjusted monthly basis, according to the latest figures from the Department of Statistics (Singstat) on Wednesday (Oct 5).
17 hours ago
Singapore retail sales grow 13% in August, extending July’s growth
Tessa Oh - SINGAPORE’S retail sales continued to rise year on year in August, but declined on a seasonally adjusted monthly basis, according to the latest figures from the Department of Statistics (Singstat) on Wednesday (Oct 5).
17 hours ago
Equitable loss-sharing framework for scams still taking ‘longer than expected’: Alvin Tan
Kelly Ng - SINGAPORE’S financial regulator is taking “longer than expected” to come up with an equitable loss-sharing framework for financial scams, as it tries to ascertain how different stakeholders share responsibility for these scams, Minister of State for Trade and Industry Alvin Tan said in Parlia ...
17 hours ago
Consortium kicks off project to capture carbon emissions onboard oil tanker
SINGAPORE: A consortium made up of global energy and shipping organisations announced on Wednesday (Oct 5) that they will start a project to build and test a carbon capture system onboard an oil tanker for the next two years. The project onboard a medium-range tanker owned by shipping firm Stena Bul ...
17 hours ago
Taiwan vows to protect its firms' interests at US-led 'Chip 4' group
TAIPEI: Taiwan will use the new US-led "Chip 4" group to safeguard the interests of Taiwanese companies and to ensure supply chain resilience, a deputy minister said on Wednesday (Oct 5), though he added that the group had no agenda yet. A preliminary meeting of the group took place last w ...
17 hours ago
Thai rice exports could reach 8 million tonnes this year despite floods - assoc
Thailand's rice exports could reach 8 million tonnes this year as flooding caused by Typhoon Noru has had little impact and a weak baht has helped overseas sales, the president of the Thai Rice Exporters Association said on Wednesday.The world's third largest rice exporter shipped 6.11 mil ...
17 hours ago
Surge in UK gilt yields exposes pension fund weaknesses
Colin Robertson - A DECADES-LONG downward move in United Kingdom gilt yields has led to a fall in the interest rate used to discount future cashflows and increased the value of UK defined benefit pension fund liabilities. Many pension fund trustees, faced with the considerable risk that the value of assets held by f ...
18 hours ago
Pavilion Energy, Mitsui O.S.K to launch LNG bunker vessel in Q1 2023
SINGAPORE : Singapore's Pavilion Energy and Japan-based Mitsui O.S.K Lines (MOL) said on Wednesday they would launch a liquefied natural gas (LNG) bunker vessel in the first quarter of 2023, a move that would increase Singapore's supplies of the fuel for ships.The Singapore-flagged vessel ...
18 hours ago
High hopes for the new European Political Community
ANDREW HAMMOND - THE new European Political Community (EPC) forum meets for the first time on Thursday (Oct 6) amid massive shared challenges. Yet despite high hopes for its future in the face of the Ukraine crisis, it is wholly unclear whether the new ‘club of nations’ will be a significant moment in Europe’ ...
18 hours ago
Taiwan Sept export growth seen cooling further: Reuters Poll
TAIPEI : Taiwan's exports likely rose for the 27th straight month in September though at a slower pace than in August, amid fears of a global recession, uncertainties due to the Ukraine conflict, and COVID-19 flare-ups in China, according to a Reuters poll.Taiwan, a global hub for chip producti ...
18 hours ago
The era of low interest rates may not be over
Paul Krugman - FROM a financial point of view, 2022 has, above all, been the year of rising interest rates. True, the United States Federal Reserve didn’t begin raising the short-term interest rates it controls until March, and its counterparts abroad acted even later. But long-term interest rates, which are wh ...
18 hours ago
Thai headline CPI rises 6.41% y/y in Sept, less than forecast
BANGKOK : Thailand's headline consumer price index (CPI) rose 6.41 per cent in September from a year earlier, commerce ministry data showed on Wednesday.The reading compared with a forecast for a 6.60 per cent rise in September in a Reuters poll and followed August's 7.86 per cent increase ...
18 hours ago
Thai headline CPI rises 6.41% year on year in Sep, less than forecast
BANGKOK: Thailand's headline inflation rate in September slowed from the previous month and less than expected, data showed on Wednesday (Oct 5), but above-target consumer prices reinforced expectations of further interest rate hikes. The headline consumer price index (CPI) rose 6.41 per cent i ...
19 hours ago
MSD announces two new manufacturing plants as part of US$500m investment over five years
Sharon See - AMERICAN drugmaker MSD on Wednesday (Oct 5) announced the opening of two manufacturing facilities to produce vaccines and biologics in Singapore.
19 hours ago
RHB maintains ‘overweight’ on industrial S-REITs sector, but ‘neutral’ on M-REITs as it prefers more modern properties
Lim Hui Jie - RHB Group Research analysts Loong Kok Wen and Vijay Natarajan have maintained their “overweight” call on the industrial S-REIT sector and “neutral” call on the industrial M-REIT sector.Their top picks are Capitaland Ascendas REIT, ESR-Logos REIT and AIMS APAC REIT in Singapore, and Axis REIT ...
19 hours ago
Indonesia central bank says cross border payments will be connected in 5 ASEAN countries next year
JAKARTA: Indonesia's central bank governor said on Wednesday (Oct 5) the cross-border payment program between five ASEAN countries, namely Thailand, Singapore, Malaysia, Philippines and Indonesia will be fully connected next year. Governor Perry Warjiyo said at an Islamic economics event that I ...
19 hours ago
With Musk bid back on, Twitter employees 'just along for the ride'
Some Twitter employees were engaged in a company-wide planning process for next year on Tuesday (Oct 4) when their phones began buzzing with news that Elon Musk had again reversed course in his on-again, off-again US$44 billion bid to buy the company. This time, the deal was on. The plans they were ...
20 hours ago
Malaysia's end-Sept palm oil stocks seen hitting near three-year peak
KUALA LUMPUR : Malaysia's palm oil inventories at end-September likely swelled to their biggest in nearly three years amid peak production season, a Reuters survey showed on Wednesday.Stockpiles rose 8 per cent from August to 2.27 million tonnes, the highest since October 2019, according to the ...
20 hours ago
Malaysia's end-Sep palm oil stocks seen hitting near three-year peak
KUALA LUMPUR: Malaysia's palm oil inventories at end-September likely swelled to their biggest in nearly three years amid peak production season, a Reuters survey showed on Wednesday (Oct 5). Stockpiles rose 8 per cent from August to 2.27 million tonnes, the highest since October 2019, accordin ...
20 hours ago
Philippines cbank: ready to act to bring inflation within target
MANILA : The Philippine central bank is prepared to take further policy actions to bring inflation toward a target-consistent path over the medium term, it said on Wednesday, following the release of September inflation data.The Bangko Sentral ng Pilipinas also said in a statement that upside risks ...
20 hours ago
Philippines statistics agency: inflation could rise further in Oct
MANILA : Philippine inflation could rise further in October, with food prices likely to remain the main source of pressure, the statistics authority said on Wednesday.Annual inflation quickened in September to 6.9 per cent from 6.3 per cent in August, reflecting higher food prices, data released ear ...
20 hours ago
Asian stocks bounce higher on signs rate hikes are working
HONG KONG : Asian stocks rose on Wednesday as investors grew hopeful future global interest rate rises might become less aggressive amid early signs previous policy tightening was working to temper price pressures in some major world economies.MSCI's broadest index of Asia-Pacific shares outsid ...
20 hours ago
Singapore shares open higher on Wednesday; STI up 0.5%
Ilyas Salim - Singapore stocks climbed in early trade on Wednesday (Oct 5), in line with global peers.
21 hours ago
Philippines inflation quickens to 6.9% in Sept
MANILA : Philippine annual inflation was at 6.9 per cent in September, faster than the previous month's 6.3 per cent, the statistics agency said on Wednesday.September's inflation rate was above the 6.7 per cent forecast in a Reuters poll, and within the central bank's 6.6 per cent to ...
21 hours ago
Philippines' 4-year high inflation boosts chances of more rate hikes
MANILA: Philippine annual inflation quickened to 6.9 per cent in September, hitting its fastest pace in four years, firming up expectations the central bank will hike rates further before the year ends. The September inflation rate, which was above the 6.7 per cent forecast in a Reuters poll, was dr ...
21 hours ago
Foxconn shares rise after offering cautiously optimistic Q4 outlook
TAIPEI : Shares in Taiwan's Foxconn, the world's largest contract electronics maker, rose 3 per cent on Wednesday morning after the company said it was "cautiously optimistic" about its fourth-quarter revenue outlook.Foxconn, a major Apple Inc supplier, also on Tuesday reported r ...
21 hours ago
S Korea central bank expects inflation to stay high for lengthy period
SEOUL : South Korea's central bank said annual consumer inflation is expected to stay high at the 5-6 per cent levels, with upside risks, for a considerable period of time.The Bank of Korea cited high dollar-won exchange rates and major oil producers' production cuts as upside risks, after ...
21 hours ago
Stocks to watch: Sembcorp Marine, Cortina, EuroSports, Japan Foods
Ry-Anne Lim - THE following companies saw new developments that may affect trading of their securities on Wednesday (Oct 5):






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