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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11 hours ago

Uber hires ex-Goldman banker to fire up its Asian business

Bloomberg - (Aug 17): Uber Technologies Inc. is hiring Goldman Sachs Group Inc.’s former chairman for Southeast Asia to lead the development of its business from Japan to Singapore. Brooks Entwistle, who announced his retirement in 2012 after two decades at the US investment bank, will become Uber’s chief b ...

11 hours ago

British consumers try to cut costs at fastest pace in 2 years: Nielsen survey

[LONDON] More Britons tried to rein in their spending in the second quarter of this year than at any time since 2015 as rising inflation squeezed household incomes, according to a survey published on Thursday.

11 hours ago

Moody's projects Singapore real GDP growth for full year at 2.5%

Lee Meixian - FOLLOWING an economic expansion of 2.7 per cent year on year in the first half of 2017, Moody's projects real GDP (gross domestic product) growth for the full year at 2.5 per cent, the midpoint of the government's forecast of 2-3 per cent. It believes that external demand will continue to ...

11 hours ago

CDL's flagship asset to undergo renovations next year

Staff Reporter - The developer is securing $60m for the enhancement works. City Developments’ flagship asset, Republic Plaza, will undergo an asset enhancement initiative starting 1Q18. According to UOB Kay Hian, the refurbishment will take around one year and is expected to be completed by the first half of ...

11 hours ago

17 hot stock picks following a season of strong 2Q gains

Michelle Zhu - SINGAPORE (Aug 17): UOB Kay Hian has upgraded its FTSE Straits Times Index (FSSTI) target forecasts up to 3,410 from 3,250 previously on “pockets of solid outperformances”  in the 2Q17 financial reporting season, which concluded this week.   In a Thursday report, analyst Andrew Chow recaps on ...

11 hours ago

Asia fails to build on Wall Street lead as US dollar languishes

[HONG KONG] The dollar slumped on Thursday in the wake of dovish Federal Reserve minutes highlighting concern over inflation and crumbling corporate support for US President Donald Trump.

11 hours ago

Quick takes: Singapore non-oil exports growth up 8.5% in July

Lee Meixian - NON-OIL domestic exports (NODX) growth rose 8.5 per cent year on year in July, extending the 8.8 per cent growth in June, according to trade promotion agency International Enterprise (IE) Singapore.

11 hours ago

NODX growth dips to 8.5% in July

Staff Reporter - Submitted By:  Terry Gangcuangco Case Study:  No This is despite continued decline in pharma and chemicals export. Singapore's non-oil domestic exports (NODX) growth 8.5% YoY in July, 2.5ppt lower than last month's rate. According to OCBC Treasury Research, growth for electronics ...

11 hours ago

Sim Lian bids $970m on Tampines Court

Staff Reporter - Submitted By:  Terry Gangcuangco Case Study:  No Total sum to be paid will hit $1b. Sim Lian bids $970m, or $655 psf, for the third attempt of a collective sale of Tampines Court. According to DBS Equity Research, the total sum to be paid will be more than $1b. This makes it the second la ...

11 hours ago

Nokia-maker mixes with Apple, Samsung in new smartphone launch

[LONDON] Finnish company HMD Global Oy unveiled its latest Nokia-branded smartphone in a first bid to win over Samsung Electronics Co Ltd and Apple Inc. customers.

12 hours ago

Seoul: Won buoyed by softer tone in Fed minutes, shares rise

[SEOUL] The South Korean won strengthened early on Thursday, as chances of a Federal Reserve rate hike within this year became less certain after its latest minutes showed concerns about US inflation.

12 hours ago

AVA, Sumitomo Chemical to start full-scale rooftop farming test cultivation

Angela Tan - THE Agri-Food & Veterinary Authority of Singapore (AVA) and Sumitomo Chemical will begin full-scale test cultivation of farm produce on the rooftop of AVA's research facility this month, with the aim of establishing sustainable urban farming by 2018.

12 hours ago

Oxley raises stake in UE to 10.43% despite saying no counter bid

PC Lee - SINGAPORE (Aug 17): CEO Ching Chiat Kwong of Oxley Holdings has continued scooping up shares of United Engineers despite saying he does not plan to make a competing offer. See: Oxley acquires 7.11% stake in United Engineers but will not be making competing offer UE is in the midst of a takeover bid ...

12 hours ago

Australia's jobless rate slips in July but full-time work falters

[SYDNEY] Australia's jobless rate ticked lower in July led by a big bounce in part-time work while full-time employment fell, a mixed result that augurs poorly for wages growth and the course of inflation.

12 hours ago

Nokia stages comeback with new high-end Android smartphone

Michelle Zhu - SINGAPORE (Aug 17): Finnish developer HMD Global has announced its first Android flagship, the Nokia 8: an all-aluminium, precision-milled unibody device with an average thickness of 7.3mm and powered by Qualcomm’s Snapdragon 835 Mobile Platform. HMD Global owns the rights to manufacture Nokia-bra ...

12 hours ago

South Korea's Moon: There will be no war on Korean peninsula

[SEOUL] There will be no war on the Korean peninsula, South Korean President Moon Jae In said Thursday, despite high tensions over the North's nuclear and missile programmes.

12 hours ago

Food Empire hungers for more upstream projects

Samantha Chiew - SINGAPORE (17 Aug): RHB is reiterating its “buy” call on Food Empire Holdings with a target price of 95 cents on the back of its core markets in the CIS countries grew in line with its expectation for 2Q17. See: Food Empire posts 64% rise in 1H earnings to US$9.5 mil To recap, RHB highlighted in ...

12 hours ago

Buffett's Berkshire Hathaway will not increase its Oncor offer

Today - The energy unit of Warren Buffett's Berkshire Hathaway Inc said on Wednesday it will "stand firm" on its $9 billion offer to acquire 80 percent of Oncor Electric Delivery Company LLC and will not increase its offer. Elliott Management Corp, the...

13 hours ago

US in 'economic war' with China, says Trump strategist Bannon

[WASHINGTON] White House strategist Steve Bannon argued forcefully in an interview published Wednesday that the United States is in an "economic war" with China, and the confrontation with nuclear-armed North Korea is just "a sideshow."

13 hours ago

It’s tricky to unwind QE when central banks hold up to 20% of government debt

Samantha Chiew - (Aug 16): Leading central banks now hold as much as 20% of government debt. This goes to show the scale of challenge to come in unwinding unprecedented stimulus measures deployed over the past decade, according to The Financial Times. The stimulus was meant to be a temporary emergency measure but ha ...

13 hours ago

Philippines Q2 GDP expands 6.5% y-o-y, tops forecast

[MANILA] The Philippine economy grew a faster-than-expected 6.5 per cent in the second quarter from a year earlier, driven by a strong industrial sector and a recovery in agriculture, the statistics agency said on Thursday.

13 hours ago

Hong Kong democrat charged with "misleading" police over abduction claim

[HONG KONG] Hong Kong police have charged a democracy activist with misleading police after claiming he had been abducted and assaulted by mainland Chinese agents.

13 hours ago

More charges for US trucker in deadly immigrant smuggling

[CHICAGO] A US grand jury Wednesday handed down five charges, including one that carries the death penalty, against the driver allegedly behind a horror truck journey that saw 10 migrants suffocate to death.

13 hours ago

Australia proposes stronger money laundering rules, includes bitcoin

[SYDNEY] Australia announced a bill on Thursday to strengthen its money laundering laws, including bringing bitcoin providers under the remit of Austrac, the government's financial intelligence unit.

13 hours ago

Bitcoin bond debuted by Japan's Fisco after currency laws

[TOKYO] Japan's Fisco is experimenting with selling bonds denominated in bitcoins, figuring that the digital currency will eventually become a legally recognized financial asset in Japan and help boost its business.

13 hours ago

Hong Kong, Shanghai: Stocks open higher

[HONG KONG] Hong Kong and Shanghai stocks rose in the first few minutes of trade Thursday, following a positive lead from Wall Street despite fresh turmoil for President Donald Trump.

13 hours ago

Slim's America Movil wins telecom battle in top Mexico court

David Hughes - MEXICO CITY: Mexico's Supreme Court on Wednesday ruled billionaire Carlos Slim's telecommunications company America Movil should not be barred by law from charging competitors certain fees, prompting fears of a rollback of a sweeping antitrust reform. The 2014 telecom industry reform, one of ...

13 hours ago

12 land parcels for vegetable farming at Lim Chu Kang up for sale by public tender

Lee Meixian - THE Agri-Food & Veterinary Authority of Singapore (AVA) on Thursday launched 12 land parcels for vegetable farming at Lim Chu Kang for sale by public tender.

14 hours ago

Pence says NAFTA renegotiation will be a 'win win win'

Today - SANTIAGO - U.S. Vice President Mike Pence said on Wednesday he was confident a renegotiation of the NAFTA trade pact between the United States, Mexico and Canada will be a "win win win." Speaking to business leaders in Santiago, Pence added it...

14 hours ago

Asia shares up on North Korea reprieve, dollar back in doldrums

Today - SINGAPORE - Asian stocks edged up on Thursday as tensions between the U.S. and North Korea came off the boil, while worries about President Donald Trump's ability to implement his pro-growth agenda and the Federal Reserve's concerns about low U.S. inflation...

14 hours ago

NAFTA talks must include discussion on fintech: Mexican negotiator

Today - WASHINGTON - Talks to renegotiate the North American Free Trade Agreement (NAFTA) must include a discussion of new financial services, a Mexican negotiator said on Wednesday, singling out so-called fintech companies rapidly gaining ground in the region. ...

14 hours ago

Japan's exports rise in July, underpin strengthening economy

[TOKYO] Japan's exports rose for an eighth straight month in July on robust shipments to the United States and a boost from a weak yen, a sign overseas demand rebounded from a lull in the previous quarter to underpin a steady economic recovery.

14 hours ago

Nafta renegotiation reveals some stark differences

[WASHINGTON] Negotiators from Canada, Mexico and the United States opened the first round of talks on Wednesday to revamp the 23-year-old North American Free Trade Agreement, as the US doubled down on demands the deal be revised to address trade deficits and protect American jobs.

14 hours ago

Construction sector output extends losing streak in Q2

Staff Reporter - The sector’s output contracted by 5.7% YoY. The construction sector's dismal performance continued in the past quarter, data from the Ministry of Trade and Industry show. According to MTI, the sector recorded a 5.7% decrease in output for Q2, extending the 6.3% slump recorded in the prece ...

14 hours ago

ComfortDelGro's public transport profits dip 1.1% to $86.2m

Staff Reporter - This segment could see some recovery in 2H17. ComfortDelGro's public transport service segment has seen a slight dip in operating profit for the first six months of the year. According to UOB Kay Hian, the segment's profit fell 1% to $86.2m. Analyst Andrew Chow said this segment could see s ...

14 hours ago

Malaysia: Shares open higher on Thursday

MALAYSIA share prices opened higher on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 0.930 points to 1,774.680.