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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2 days ago

2,500 prime BTO flats launched; 3 and 4-room units priced at S$369,000-S$737,000

Corinne Kerk WS - THE Housing and Development Board (HDB) launched 4,583 Build-To-Order (BTO) flats on Friday (May 27) across 5 projects, including 1 each in Bukit Merah and Queenstown under the Prime Location Public Housing (PLH) model.

2 days ago

2,500 prime BTO flats launched; 3 and 4-room units priced from S$369,000-S$737,000

Corinne Kerk WS - THE Housing and Development Board (HDB) launched 4,583 Build-To-Order (BTO) flats on Friday (May 27) across 5 projects, including 1 each in Bukit Merah and Queenstown under the Prime Location Public Housing (PLH) model.

2 days ago

Over 4,500 BTO HDB flats launched, including in Bukit Merah, Queenstown under PLH model

Corinne Kerk WS - THE Housing and Development Board (HDB) launched 4,583 Build-To-Order (BTO) flats on Friday (May 27) across 5 projects, including 1 each in Bukit Merah and Queenstown under the Prime Location Public Housing (PLH) model.

2 days ago

Hong Kong seeks to revive global banking status with major summit

HONG KONG: Hong Kong's central bank plans to hold a major conference in November it hopes will draw global banking bosses, sources said, as the financial hub seeks to welcome back international business following two gruelling years of closed borders. For most chief executives of the world' ...

2 days ago

Thai April exports miss forecast over Ukraine war, China lockdown

BANGKOK : Thailand's exports in April rose at a much slower pace than the previous month and less than expected, commerce ministry data showed on Friday, coming under the pressure of Russia's invasion of Ukraine and China's lockdown measures.Exports, a key driver of Thai growth, incre ...

2 days ago

Thai April exports rise 9.9% y/y, below forecast

BANGKOK : Thailand's exports in April rose 9.9 per cent from a year earlier, the commerce minister said on Friday, short of a forecasted 14.6 per cent rise in a Reuters poll.January-April exports increased 13.7 per cent from a year earlier, Jurin Laksanawisit told a news conference.

2 days ago

Hong Kong home prices reverse 3-month drop to climb 0.5% in April

HONG KONG : Hong Kong private home prices reversed a three-month decline in April, the latest official data showed on Friday, as the financial hub stabilised after COVID-related woes and homebuyer sentiment was boosted by waves of new development launches.Prices in what survey company Demographia ra ...

2 days ago

MAS launches 2022 Global FinTech Hackcelerator focussing on Web 3.0 and green finance

Monetary Authority of Singapore (MAS) has announced the launch of the 7th edition of the Global FinTech Hackcelerator, with the theme “Accelerating A Greener Digital Future”.With backing from Oliver Wyman, the competition seeks to leverage the potential of fintech in accelerating Web 3.0 develop ...

2 days ago

Leaning into innovation to bring newfound speed and accuracy to credit risk modelling

With all the disruption stemming from COVID-19 over the past two years, how sound are credit risk models? According to our recent survey, only 16% of fintech and financial services organisations believe their credit risk models are accurate at least 76% of the time.This state of great uncertainty in ...

2 days ago

Japan PM Kishida says debate on capital gains tax still on

TOKYO : Japanese Prime Minister Fumio Kishida said on Friday that his government continued to debate capital gains tax as "one of the issues".The debate on whether to adopt the taxation has been effectively shelved as investors raised concerns about its potential impact on cooling Japan� ...

2 days ago

Japan Apr factory output seen posting first fall in 3 months on China lockdown - Reuters poll

TOKYO : Japan's factory output likely fell in April for the first time in three months as some manufacturers took a hit from strict COVID-19 lockdowns in Shanghai and other industrial centres in China.Japanese industrial production likely dropped 0.2 per cent in April from the prior month, acco ...

2 days ago

Brokers’ take: DBS cuts Valuetronics target price to S$0.51 on weaker margin estimates

Tan Nai Lun - DBS Group Research expects margins for electronics manufacturing services provider Valuetronics will remain weak amid headwinds from supply chain disruptions and macroeconomic uncertainties.

2 days ago

Dollar set for biggest weekly drop in nearly 4 months as rate bets cool

LONDON : The dollar was set for its biggest weekly drop in nearly four months as traders lowered Federal Reserve rate hike expectations amid signs the U.S. central bank might slow or even pause its tightening cycle in the second half of the year.A broad-based decline in U.S. Treasury yields, weak ec ...

2 days ago

Dollar sinks to one-month low as Fed rate hike bets ease

TOKYO : The U.S. dollar sank to a one-month low versus major rivals on Friday as traders lowered Federal Reserve rate hike expectations amid signs the central bank might slow or even pause its tightening cycle in the second half of the year.The dollar index, which measures the greenback against a ba ...

2 days ago

Dollar sinks to one-month low amid easing Fed rate hike bets

TOKYO : The U.S. dollar sank to a one-month low versus major peers on Friday as traders lowered Federal Reserve rate hike expectations amid signs the central bank might slow or even pause its tightening cycle in the second half of the year.The dollar index, which measures the greenback against a bas ...

2 days ago

Metro Holdings takes 10% stake in Hyphens Pharma subsidiary DocMed at $60 mil valuation

“DocMed is focusing on capturing opportunities in healthcare digitalisation and developing new digital assets. We anticipate a bright future for this business,” he adds.in the digital evolution of healthcare in the region and that there are mutual synergies for both parties.“We see growth oppo ...

2 days ago

POSCO Chemical plans to invest in $633 million battery materials plant with GM

SEOUL : South Korea's POSCO Chemical Co Ltd said on Friday it plans to invest in a $633 million battery cathode materials plant in Canada with U.S. automaker General Motors Co (GM).The South Korean materials maker said in a regulatory filing that it plans to invest $278 million through Septembe ...

2 days ago

World stocks eye first weekly gain in eight weeks, dollar hits 1-mth low

LONDON/BEIJING : World stocks were heading for their first weekly gain in eight weeks on Friday on a more upbeat earnings view while the dollar hit one-month lows after the Federal Reserve's minutes suggested it could put the brakes on rapid rate hikes later this year.Optimistic U.S. earnings o ...

2 days ago

Asia shares join global rebound on easing of Fed hike fears, China tech boost

BEIJING/TOKYO : Asian shares on Friday extended overnight global gains thanks to strong results from regional tech firms and U.S. retailers, while investors also took comfort from Federal Reserve minutes suggesting it could pause its rapid rate hikes later this year. The swing in sentiment left the ...

2 days ago

Asia shares join global rebound as Fed hike fears ease, China tech boost

BEIJING/TOKYO : Asian shares extended overnight global gains thanks to strong results from regional tech firms and U.S. retailers, while investors also took comfort from Federal Reserve minutes showing a pause to its rate hikes is on the cards later this year. The swing in sentiment left the dollar ...

2 days ago

China's industrial profits slump in April as COVID curbs squeeze firms

BEIJING :Profits at China's industrial firms fell at their fastest pace in two years in April as high raw material prices and supply chain chaos caused by COVID-19 curbs squeezed margins and disrupted factory activity.Profits shrank 8.5 per cent from a year earlier, swinging from a 12.2 per cen ...

2 days ago

China's industrial profit falls sharply in April amid COVID curbs

BEIJING : Profits at China's industrial firms fell at their fastest pace in two years in April as high raw material prices and supply chain chaos caused by COVID-19 curbs squeezed margins and disrupted factory activity.Profit shrank 8.5 per cent from a year earlier, the statistics bureau said o ...

2 days ago

China industrial profit rises 3.5% y/y in January-April

BEIJING : Profit at China's industrial firms rose 3.5 per cent in January-April verses the same period a year earlier, slower than the 8.5 per cent on-year growth logged for January-March, the National Bureau of Statistics said on Friday.Industrial profit dropped 8.5 per cent in April, the data ...

2 days ago

Metro H2 profit drops 68.4% to S$5.4m

Helene Tian - PROPERTY player Metro Holdings on Friday (May 27) posted a 68.4 per cent fall in net profit for the second half ended Mar 31, dragged by lower revenue, impairment losses and a lower share of profit from joint ventures.

2 days ago

Singapore stocks open higher on Friday, STI up 0.6%

Tan Nai Lun - SINGAPORE shares opened higher on Friday (May 27), after Wall Street stocks rallied for a second consecutive day.

2 days ago

BOJ Kuroda says Japan inflation to stay around 2% for a year

TOKYO : Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Friday the country's core consumer inflation will likely remain around the central bank's 2 per cent target for 12 months unless energy prices drop sharply.But he told parliament that prices likely would not rise "sustainabl ...

2 days ago

EY says it is in early stages of evaluation separation of audit and consulting

As an example, EY was Wirecard’s auditor. Yet, the firm is allegedly believed not to have unearthed alleged fraudulent bank statements. Allegedly, it was a whistleblower that caused an eventual review of Wirecard’s operations. Subsequently, KPMG was appointed as special auditor, and this special ...

2 days ago

Oil on track for weekly rise amid global supply concerns

SINGAPORE :Oil prices dipped on Friday but stayed near a two-month high, with Brent crude on track for its biggest weekly jump in 1-1/2 months, supported by the prospect of an EU ban on Russian oil and the upcoming U.S. summer driving season.Brent crude futures for July were down 21 cents, or 0.2 pe ...

2 days ago

Oil lingers near 2-month high amid global supply concerns

SINGAPORE :Oil prices hovered around a two-month high on Friday, with Brent crude on track for its biggest weekly jump in 1-1/2 months, supported by the prospect of an EU ban on Russian oil and the coming summer driving season in the United States.Brent crude futures for July dipped 9 cents to $117. ...

2 days ago

Oil just off 2-month high amid global supply concerns

Oil prices eased slightly in early Asian trade on Friday, after surging to a two-month high in the previous session as investors focused on signs of tight global supply.Meanwhile, a top Hungarian aide said the country needs 3-1/2 to 4 years to shift away from Russian crude and make huge investments ...

2 days ago

Japan says aims to cut ratio of coal power generation as much as possible

TOKYO: Japan's industry minister Koichi Hagiuda reiterated on Friday (May 27) the country's policy is to reduce the ratio of coal-fired power generation in the electricity mix as much as possible, with plans to phase out inefficient coal power plants "toward" 2030. His comments c ...

2 days ago

Hyphens Pharma to sell 10% stake in digital healthtech unit to Metro for S$6m

Tan Nai Lun - CATALIST-LISTED Hyphens Pharma International on Friday (May 27) said property and retail company Metro Holdings has agreed to invest S$6 million for a 10 per cent stake in the former’s digital healthtech unit DocMed Technology.

2 days ago

Singtel H2 net profit rises to S$994.5m; proposes final dividend of S$0.048

Michelle Zhu - SINGTEL on Friday (May 27) reported S$994.5 million in net profit for the second half ended March 2022, up more than 10 times from S$87.6 million in H2 FY2021.

2 days ago

Stocks to watch: OCBC, Singtel, IHH, The Hour Glass 

Helene Tian - THE following companies saw new developments that may affect trading of their securities on Friday (May 27):

2 days ago

China premier issues warning on pandemic-hit economy

BEIJING: China's premier called for more to be done to stabilise the world's second-largest economy, issuing an unusually stark warning as the country's zero-COVID strategy bites into growth. China is the last major economy welded to a policy of mass testing and hard lockdowns to eli ...

2 days ago

Metro's net profit falls 35% in FY2022 on impairment loss

Metro Holdings announced a 35.5% y-o-y decline in net profit after tax of $23.7 million in FY2022 for the 12 months to March 31. This was mainly due to providing an impairment loss of $36.3 million on the amounts due from associates on the co-investments with BentallGreenOak (BGO) due to the ongoing ...