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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17 hours ago

Retail analytics startup Trax closes US$100m round, becomes Singapore's 2nd unicorn

Fiona Lam - TRAX, a GIC-backed startup providing computer vision and in-store analytics for the retail industry, has joined Singapore’s unicorn stable after closing a US$100 million investment to expand its footprint in China and globally.

17 hours ago

Huawei's US research arm slashes jobs as trade ban bites

Janice Heng - SANTA CLARA, Calif./HONG KONG: China's Huawei Technologies laid off more than two-thirds of the 850-strong workforce at its Futurewei Technologies research arm in the United States, after being blacklisted by the government. Futurewei, which has offices in Silicon Valley and the greater Seattle ...

17 hours ago

CapitaLand Mall Trust NPI up 10.9% to $273.25m in H1

Tim Charlton - Submitted By:  Staff Reporter Case Study:  No The Westgate acquisition in November 2018 boosted half-year earnings. CapitaLand Mall Trust’s (CMT) net property income (NPI) edged up 10.9% YoY to $273.25m in H1 2019 from $246.44m in 2018, an announcement revealed. Its revenue also jum ...

18 hours ago

Trump agrees to prompt responses to license requests for Huawei sales

Janice Heng - President Donald Trump agreed at a meeting with the heads of top technology companies like Google on Monday to make "timely" decisions on requests by U.S. companies to sell to blacklisted Huawei Technologies Co Ltd, the White House said.

18 hours ago

Frasers Commercial Trust NPI slipped 3% to $19.75m in Q3

Staff Reporter - Submitted By:  Luz Wendy Noble Case Study:  No It was hit by higher property tax expense for Alexandra Technopark. Frasers Commercial Trust’s (FCT) net property income (NPI) dipped 3% YoY to $19.75m in Q3 FY19 from 20.37m during the same period a year ago, an announcement revealed. ...

18 hours ago

Trax gets US$100m funding, becomes Singapore's second unicorn

SINGAPORE: Warburg Pincus-backed image recognition technology firm Trax, a start-up that counts Heineken and Nestle among its clients, said it has raised US$100 million in its latest funding round, becoming Singapore's second unicorn. Chinese private-equity firm Hopu Investments led the financing . ...

18 hours ago

Huawei's US research arm slashes more than 70% of workforce

Janice Heng - Futurewei Technologies Inc, the U.S. research arm of China's Huawei Technologies Co Ltd, began laying off workers on Monday, according to employees including one who spoke to Reuters as he left the company's Silicon Valley campus.

19 hours ago

FTC to announce US$5 billion settlement with Facebook as early as this week: sources

The U.S. Federal Trade Commission is expected to announce a roughly US$5 billion settlement with Facebook Inc as early as this week of its investigation into the social media company’s handling of user data, two sources briefed on the matter said on Monday.

19 hours ago

Singapore shares track Wall Street gains to open higher on Tuesday; STI up 0.15% to 3,362.35

Fiona Lam - SINGAPORE shares began trading in slightly positive territory on Tuesday in the midst of the corporate earnings season, following advances on Wall Street overnight.

19 hours ago

US farmers look past trade fears to cash in on China's hog crisis

Janice Heng - It might seem an unlikely time for U.S. farmers to look to China for more business but the devastating impact of African swine fever on the Chinese pork industry is trumping concerns about trade wars and tariffs.

19 hours ago

Alliance Mineral requests trading halt pending an announcement

Vivienne Tay - CATALIST-LISTED miner Alliance Mineral Assets requested a trading halt on Tuesday morning just before the market opened, pending the release of an announcement “in relation to a corporate update”.

19 hours ago

Nico Steel says able to meet S$40m market cap to exit watch list in 'reasonable time'

Fiona Lam - MAINBOARD-LISTED metals supplier Nico Steel Holdings said it will be able to meet the S$40 million market capitalisation requirement to exit the Singapore Exchange (SGX) watch list, given “reasonable time”.

19 hours ago

Huawei's US research arm slashes more than 70per cent of workforce

Anita Gabriel - Futurewei Technologies Inc, the U.S. research arm of China's Huawei Technologies Co Ltd, began laying off workers on Monday, according to employees including one who spoke to Reuters as he left the company's Silicon Valley campus.

19 hours ago

Thai farmers on the cash trail with snail slime demand for cosmetics

Anita Gabriel - Giant snails inch across a plate of pumpkin and cucumber in central Thailand, an "organic" diet to tease the prized collagen-rich mucus from the molluscs, which to some cosmetic firms are now more valuable than gold.

19 hours ago

Stocks to watch: CMT, FCOT, ESR-Reit, Datapulse, Trendlines, Nico Steel

Ng Ren Jye - THE following companies saw new developments that may affect trading of their shares on Tuesday:

19 hours ago

Stocks to watch: CMT, FCOT, ESR-Reit, Datapulse, Trendlines, Singapore Kitchen Equipment, Nico Steel

Ng Ren Jye - THE following companies saw new developments that may affect trading of their shares on Tuesday:

20 hours ago

SATS profits could drop by up to 3% amidst weakening cargo volumes

Staff Reporter - Submitted By:  Arianna Danganan Case Study:  No That said, its food solutions division could ride on the 2020 Olympics. SATS’ earnings could slip between 2-3% in 2019 due to a less optimistic operating margin outlook, thanks to weak cargo volumes and the consolidation of Ground Team ...

20 hours ago

CapitaLand Mall Trust Q2 DPU up 3.9% to 2.92 S cents

Vivienne Tay - CAPITALAND Mall Trust (CMT) is raising its second-quarter distribution per unit (DPU) by 3.9 per cent to 2.92 Singapore cents, from 2.81 cents a year ago, the trust manager said on Tuesday before the market opened.

20 hours ago

A*STAR inks collaboration deals to develop digital solutions for smart cities

Staff Reporter - Submitted By:  Arianna Danganan Case Study:  No Surbana Jurong will incorporate technologies commercialised by A*STAR’s SME and startup licensees. The Agency for Science, Technology and Research (A*STAR) and urban and infrastructure consultancy Surbana Jurong have signed a memorandu ...

20 hours ago

Daily Markets Briefing: STI down 0.61%

Staff Reporter - Submitted By:  Luz Wendy Noble Case Study:  No DBS is the top active stock as it fell 0.23%. The Straits Times Index ended 20.74 or 0.61% lower at 3,357.22. The top active stocks were DBS, which fell 0.23%, UOB, which went down 0.52%, CapitaLand, which crashed 1.10%, OCBC, which remained ...

20 hours ago

Daily Briefing: Cocoon Capital raises US$22m seed fund; Startup Trax becomes Singapore's second unicorn

Staff Reporter - Submitted By:  Sandra Sendingan Case Study:  No And the number of babies born in Singapore fell to an eight-year low in 2018. From Reuters: Warburg Pincus-backed image recognition technology firm Trax, said it has raised US$100m in its latest funding round, becoming Singapore’s seco ...

20 hours ago

Easing hopes prop up global stocks, pound sags as Britain eyes new PM

Leila Lai - Expectations of policy easing by major central banks such as the Federal Reserve propped up global stocks on Tuesday, while the pound sagged as Britain braced for a new prime minister who could pave the way for a no-deal exit from the European Union.

20 hours ago

Huawei's US research arm sends workers packing

Leila Lai - Futurewei Technologies Inc, the U.S. research arm of China's Huawei Technologies Co Ltd, began laying off workers on Monday, according to employees including one who spoke to Reuters as he left the company's Silicon Valley campus.

20 hours ago

Singapore Kitchen Equipment loses appeal for Hong Kong dual-listing

Ng Ren Jye - CATALIST-LISTED Singapore Kitchen Equipment Limited has unsuccessfully appealed the Hong Kong Exchange's decision to reject its dual-listing application on the bourse's Growth Enterprise Market (GEM) board.

20 hours ago

P5 Capital calls for trading halt pending announcement

Fiona Lam - CATALIST-LISTED P5 Capital Holdings requested a trading halt on Tuesday morning before the market opened, pending the release of an announcement.

20 hours ago

Chart of the Day: 3,415 hotel rooms expected to be completed from 2019-2022

Staff Reporter - Submitted By:  Nathanielle Punay Case Study:  No This represents muted growth in supply at 4-year CAGR of 1.3%. This chart from UOB Kay Hian shows the total number of hotel rooms from 2019-2022 - both planned and under construction - will hit 3,415. Also read: Will Singapore hotels' f ...

20 hours ago

Trump, Democrats reach two-year budget deal that raises debt ceiling

Leila Lai - WASHINGTON: US President Donald Trump said on Monday (Jul 22) that a "compromise" bipartisan budget agreement has been reached that will boost federal spending by US$320 billion and suspend the debt limit beyond the next presidential election. The deal, should it pass Congress as expected, would .. ...

20 hours ago

Singapore seed investor Cocoon Capital closes second fund at $22m

Mars W. Mosqueda Jr. - The fund exceeded its initial target of $20 million. The post Singapore seed investor Cocoon Capital closes second fund at $22m appeared first on DealStreetAsia.

20 hours ago

Singapore tycoon Oei wins long-running Canada property case

David Ramli - The dispute revolved around the Plaza of Nations, an entertainment complex in Vancouver that Oei bought for C$40 million ($30.6 million) in 1989. The post Singapore tycoon Oei wins long-running Canada property case appeared first on DealStreetAsia.

20 hours ago

SG’s co-living startup Hmlet raises $40m Series B round led by Burda

Kristie Neo - Hmlet had last raised a $6.5-million Series A round led by Sequoia India in November 2018. The post SG’s co-living startup Hmlet raises $40m Series B round led by Burda appeared first on DealStreetAsia.

21 hours ago

Apple in talks to buy Intel smartphone chip unit: Report

Annabeth Leow - SAN FRANCISCO: Apple is in talks to buy Intel's smartphone modem chip unit, a move that would help the iPhone maker control a key component, the Wall Street Journal reported on Monday (Jul 22). The Journal cited unnamed people familiar with the matter as saying the deal would cover Intel patents .. ...

21 hours ago

CapitaLand Mall Trust records 3.9% rise in 2Q DPU to 2.92 cents

Stanislaus Jude Chan - SINGAPORE (July 23): The manager of CapitaLand Mall Trust (CMT) has announced distribution per unit (DPU) of 2.92 cents for the 2Q19 ended June, some 3.9% higher than DPU of 2.81 cents a year ago. Distributable income to unitholders rose 7.7% to $107.7 million, from $100.0 million a year ago. 2Q19 ...

21 hours ago

LG Display says to invest US$2.6 billion in OLED panel plant in South Korea

LG Display said on Tuesday that it would invest 3 trillion won (US$2.55 billion) in its organic light-emitting diode (OLED) panels production line in South Korea.

21 hours ago

Tech leads as US stocks rise at start of big earnings week

NEW YORK: US technology companies rallied on Monday (Jul 22) ahead of earnings from high-tech heavyweights later in the week, while oil prices gained amid lingering unease over Middle Eastern supplies. With some 130 companies the S&P 500 set to report this week, analysts are squarely focused on ...

21 hours ago

Equifax consumers face uphill battle for claims

Annabeth Leow - REUTERS: Consumers affected by the massive Equifax Inc data breach in 2017 will not reap any windfalls from the credit reporting company's US$700 million U.S. settlement announced on Monday, but may face a cumbersome process to get compensation. Federal Trade Commission officials said those among .. ...

21 hours ago

Trump meets with tech CEOs on Huawei

Annabeth Leow - U.S. President Donald Trump met on Monday with the chief executives of seven technology companies and he agreed with their request for timely licensing decisions from the Commerce Department on blacklisted Chinese firm Huawei Technologies, the White House said.