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

Inflation in Japan's capital stays elevated as price pressures broaden

TOKYO : Core consumer prices in Tokyo, considered a leading indicator of Japanese price trends, rose 1.9 per cent in May from a year earlier, a pace that matched the previous month's seven-year peak in a sign recent fuel-driven inflationary pressures were broadening.The increase in inflation, s ...

2 days ago

Helped by weak yen, Japan remains top creditor nation with record net external assets

TOKYO :Japan's net external assets hit a record 411 trillion yen ($3.24 trillion) in 2021, to retain its position as the top creditor for 31 years in a row, the Ministry of Finance (MOF) said on Friday.A weak yen - it lost about 11 per cent against the dollar last year - boosted the value of fo ...

2 days ago

Japan remains top creditor nation as net external assets grow

TOKYO : Japan's net external assets hit a record amount in 2021, retaining its position as the top creditor for 31 years in a row, the Ministry of Finance (MOF) said on Friday, likely bolstering the yen's status as a safe-haven asset despite its recent weakening.The net value of assets hel ...

2 days ago

Reject the $0.57 offer says IFA to APAC Realty's independent directors

The Offer will close at 5.30 p.m. (Singapore time) on June 10.

2 days ago

Singtel posts net profit of $1.95 billion in FY2022

Singtel’s net profit for FY2022 for the 12 months to March 31 grew two and a half times to $1.95 billion primarily due to a net exceptional gain from the group’s divestment of its 70% equity stake in Australia Tower Network compared to a net exceptional loss last year.Underlying net profit impro ...

2 days ago

EY evaluating strategic options to improve audit quality

Ernst & Young is evaluating options to improve their audit quality, Chief Executive Carmine Di Sibio said on Thursday in an internal memo seen by Reuters, at a time when the Big Four accounting firms are often blamed for their lack of independence.The memo was sent in response to a report by the ...

2 days ago

US agency asks Tesla for information on Canadian fire incident

WASHINGTON : The National Highway Traffic Safety Administration said on Thursday it has asked Tesla Inc for information about a recent 2021 Tesla Model U fire in Vancouver, British Columbia, in which a driver reported struggling to exit.The NHTSA told Reuters the agency "is aware of the inciden ...

2 days ago

China's LNG imports set for first big decline as demand wanes

SINGAPORE : China's imports of liquefied natural gas (LNG) are on track to post their first major decline this year, as high prices and weak manufacturing due to COVID-19 lockdowns crimp demand for the super-chilled fuel.China became the world's top LNG buyer last year but surrendered the ...

2 days ago

Who is the Japanese CEO of UNIQLO Singapore, who loves chicken rice and nasi lemak?

Yuki Yamada, who moved to Singapore in 2019, talks UNIQLO’s expansion in the country, its sustainability efforts and life in the Lion City. Where does he go for his fix of local food?

2 days ago

Get on the sustainability agenda, or go out of business

Janice Lim - In ranking-obsessed Singapore, there is one particular area that the trade-reliant city-state needs to work harder on: sustainability.

2 days ago

Dell results surpass estimates on strong PC demand; shares jump

Dell Technologies beat revenue expectations for the ninth straight quarter on Thursday after enterprises invested heavily in its desktops and notebooks to support hybrid work. The PC maker's shares jumped 7 per cent after the bell as it also trumped expectations for quarterly profit with a 62 p ...

2 days ago

Dell revenue zooms past expectations on strong PC demand

Dell Technologies beat revenue expectations for the ninth straight quarter on Thursday (May 26), as the PC maker saw robust demand for its computers and laptops as companies embrace a hybrid work model. The company also posted a 62 per cent jump in quarterly profit as businesses continue to heavily ...

2 days ago

Tesla submits application to expand German plant - rbb

BERLIN : Tesla has submitted an application to build on a further 100 hectares east of its plant in Germany, expanding the site's area by a third, local newspaper rbb reported on Thursday, citing the local mayor.The electric carmaker, which already has 300 hectares of land for its auto factory ...

2 days ago

Tesla submits application to expand German plant: Report

BERLIN : Tesla has submitted an application to build on a further 100 hectares east of its plant in Germany, expanding the site's area by a third, local newspaper rbb reported on Thursday (May 26), citing the local mayor. The electric carmaker, which already has 300 hectares of land for its aut ...

2 days ago

Breakthrough infections may be less contagious; vaccine protection wanes faster in cancer patients

The following is a summary of some recent studies on COVID-19. They include research that warrants further study to corroborate the findings and that has yet to be certified by peer review. Breakthrough infections may be less contagious Fully vaccinated individuals who get infected with the cor

2 days ago

US Bill would bar Google, Apple from hosting apps that accept China's digital yuan

WASHINGTON: Republican senators want to bar US app stores including Apple and Google from hosting apps that allow payments to be made with China's digital currency, amid fears the payment system could allow Beijing to spy on Americans. The Bill, unveiled Thursday (May 26) and first reported by ...

3 days ago

Pakistan to raise fuel prices as agreed with IMF: Finance minister

ISLAMABAD: Pakistan Finance Minister Miftah Ismail said on Thursday (May 26) that the government will raise fuel prices as agreed with the International Monetary Fund (IMF). Ismail said in a tweet the new prices with a rise of 30 rupee a litre will come into effect by Friday. Pakistan on Wednesda

3 days ago

Nippon Steel sees seamless pipe business back in profit thanks to increased gas drilling

TOKYO: Nippon Steel Corp, the world's No 5 steelmaker, expects its seamless pipe business will return to a profit this year from a loss last year as gas drilling activity is on the rise to meet higher demand for non-Russian fuel. "We are getting an increasing number of inquiries for seamle ...

3 days ago

Meta working on Instagram access issues reported by users

:Meta Platforms Inc on Thursday said it was working on restoring Instagram, after thousands of users reported issues with accessing the image-sharing platform.At its peak, more than 6,600 users reported issues with Instagram on Downdetector.com, which collates status reports on outages from sources ...

3 days ago

Instagram down for thousands of users: Downdetector

Meta Platforms Inc's image-sharing platform Instagram was down for thousands of users on Thursday, according to outage-tracking website Downdetector.com. More than 6,000 users reported issues with Instagram on Downdetector, which tracks outages by collating status reports from several sources i ...

3 days ago

Big tech ad revenue growth to taper as pandemic bubble pops: Analyst

After unprecedented revenue growth last year, digital platforms including Alphabet, Meta Platforms, Snap and Twitter now face a sobering reality as pandemic-driven advertising trends dissipate, according to an analyst report on Thursday. Research firm MoffettNathanson cut its 2025 revenue estimates ...

3 days ago

CD Projekt's first-quarter profit more than doubles

Polish video game maker CD Projekt more than doubled its first-quarter net profit, helped by a pick up in sales of its flagship Cyberpunk 2077 game after months spent fixing glitches. "The next-gen version of Cyberpunk, released together with a major update ... had a positive effect on the gam ...

3 days ago

Musk sued by Twitter investors for stock 'manipulation' during takeover bid

NEW YORK: Billionaire Elon Musk was sued by Twitter investors claiming he manipulated the company's stock price downward, as the chief executive of electric carmaker Tesla mounts a US$44 billion takeover bid for the social media platform. The investors said Musk saved himself US$156 million by ...

3 days ago

Musk sued by Twitter investors for delayed disclosure of stake

NEW YORK: Billionaire Elon Musk was sued by Twitter investors for delayed disclosure of his stake in the social media company in a complaint filed on Wednesday (May 25) in California federal court. The investors said Musk saved himself US$156 million by failing to disclose that he had purchased more ...

3 days ago

Get your crypto house in order, old guard tells Davos debutantes

DAVOS, Switzerland : Cryptocurrency firms, many of which lined the main street in Davos this week, were told they will need to clean up their act before gaining complete acceptance from the World Economic Forum's old guard."The future of crypto, I'm sorry to say, looks regulated to me ...

3 days ago

IMF says in talks with Sri Lanka on a 'comprehensive' reform package

LONDON : The International Monetary Fund said on Thursday that was in talks with Sri Lanka's authorities on a package that would restore economic stability and debt sustainability."The team made good progress in assessing the economic situation and in identifying policy priorities to be ta ...

3 days ago

Alibaba full-year profit slumps nearly 60% on tech crackdown, COVID-19

BEIJING: Chinese e-commerce giant Alibaba said on Thursday (May 26) its profit fell 59 per cent in the last fiscal year, joining other tech firms that reported lacklustre results while grappling with COVID-19 restrictions and a sector crackdown. China's economy has been battered by the fallout ...

3 days ago

Broadcom to buy VMware for US$61 billion in record tech deal

Broadcom Inc. agreed to buy cloud-computing company VMware Inc. for about US$61 billion in one of the largest technology deals of all time, turning the chipmaker into a bigger force in software.VMware shareholders can choose to receive either US$142.50 in cash or 0.2520 shares of Broadcom stock for ...

3 days ago

Globalization's cheerleaders grasp for new buzzwords at Davos

DAVOS, Switzerland : World leaders, financiers and chief executives said they were leaving this week's World Economic Forum with an urgent sense of the need to reboot and redefine 'globalization'.The framework of open markets that has shaped the last three decades of commerce and geop ...

3 days ago

Singapore, Japan ink agreements on promoting start-ups, digital transformation for governments

SINGAPORE: Singapore and Japan have inked two agreements on promoting the flow of entrepreneurship between both countries and enhancing their governments’ digital transformations.  The signing of the agreements on Thursday (May 26) was witnessed by Singapore Prime Minister Lee Hsien Loong and his ...

3 days ago

Evergrande to sell project in eastern China for $200 million

Embattled property developer China Evergrande Group is selling the City Light Plaza project in the country's eastern marine hub of Ningbo for 1.35 billion yuan (US$200.54 million) to shore up its finances. Saddled with more than US$300 billion in liabilities, Evergrande has been struggling to r ...

3 days ago

Briefs: Averting the food crisis

Bigger food crisis can be averted if Asia remembers not to panicThe world’s food problem is already severe as prices jump and protectionism flares but there is a good chance governments can stop it from getting way worse if they heed a lesson from the crisis in 2008: Don’t panic.With a gauge of ...

3 days ago

Propertyguru’s Q1 FY2022 revenue rises as losses grow on business combination costs

Benjamin Cher - THE revenue for regional property marketplace PropertyGuru for Q1 FY2022 ending Mar 31 jumped 42 per cent to S$28.2 million from S$19.9 million, driven by momentum in its marketplaces, it said in a bourse filing on Thursday (May 26).

3 days ago

Hwa Hong appoints IFA for privatisation offer despite SIAS advice to find an independent reviewer first

Wong Pei Ting - DESPITE being urged to first sort out a board compliance issue just a day ago, the board of Hwa Hong on Thursday (May 26) went ahead and appointed an independent financial adviser (IFA) to assess a privatisation offer by Sanjuro United.

3 days ago

Hwa Hong appoints IFA to further privatisation offer despite SIAS advice to find an independent reviewer first

Wong Pei Ting - DESPITE being urged to first sort out a board compliance issue just a day ago, the board of Hwa Hong on Thursday (May 26) went ahead and appointed an independent financial adviser (IFA) to assess a privatisation offer by Sanjuro United.

3 days ago

Do superapps have a future?

If you have been following the twists and turns of the ongoing saga of world’s richest man Elon Musk’s US$44 billion ($60.4 billion) purchase of microblogging platform Twitter, you may be struggling to keep up with what exactly he would do with it once he owns it. As it turns out, Musk, who orig ...