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

Samsung launches new flagship Galaxy S smartphone early, targets remote workers, gamers

Lee Meixian - The Galaxy S21, S21+ and S21 Ultra will be available in Singapore from Jan 29, priced from S$1,248. Pre-orders through local telcos begin at 10am on Friday (Jan 15).

16 hours ago

Tech, health firms team up on digital vaccination certificates

WASHINGTON: A coalition of technology firms and health organisations announced plans on Thursday (Jan 14) for a digital vaccination certificate, which can be used on smartphones to show evidence of inoculation for COVID-19. The Vaccination Credential Initiative (VCI) includes the Mayo Clinic ...

16 hours ago

Singapore stocks open lower on Friday; STI down 0.2%

Michelle Zhu - SINGAPORE shares dipped at the opening bell on Friday, pulling back slightly from Thursday's close at 3,000 points, a record high since March last year.

17 hours ago

Joe Biden unveils plan to pump US$1.9 trillion into US economy hit by COVID-19

Lee Meixian - WILMINGTON, Delaware: President-elect Joe Biden unveiled a US$1.9 trillion stimulus package proposal on Thursday (Jan 14), saying in prime-time remarks that bold investment was needed to jump-start the economy and speed up the US response to the coronavirus pandemic. Biden campaigned last year on . ...

17 hours ago

GE alleges Siemens Energy used stolen trade secrets to rig contract bids

General Electric Co accused a Siemens Energy AG subsidiary of using stolen trade secrets to rig bids for lucrative contracts supplying gas turbines to public utilities, and cover up improper business gains totaling more than US$1 billion, according to a lawsuit filed on Thursday.

17 hours ago

First REIT declares 57.0% lower DPU of 1.85 cents for 2H20 on lower income available for distribution

Felicia Tan - The manager of First REIT has declared distribution per unit (DPU) of 1.85 cents for the 2HFY2020 ended December, some 57.0% lower than the DPU of 4.30 cents in 2HFY2019. 4QFY2020 DPU stood at 0.84 cents, while DPU for the FY2020 came in at 4.15 cents, reflecting a 51.7% decline from DPU of 8.60 cen ...

17 hours ago

First Reit FY2020 DPU down 51.7% to 4.15 S cents

Michelle Zhu - FIRST Reit on Thursday night reported a distribution per unit (DPU) of 4.15 Singapore cents for FY2020, down 51.7 per cent from its FY2019 DPU of 8.6 cents.

17 hours ago

Asia shares inch up as US stimulus hopes boost sentiment

Anita Gabriel - Asian shares rose on Friday, brushing off a late Wall Street dip as expectations of large U.S. stimulus under President-elect Joe Biden shored up sentiment while oil prices perked up on upbeat Chinese trade figures.

17 hours ago

Stocks to watch: Yangzijiang, Medtecs, Sunningdale Tech, First Reit, Lian Beng

Vivienne Tay - THE following companies saw new developments that may affect trading of their securities on Friday.

18 hours ago

SG’s Kendall Court spots big opportunity in tech sector

Deviana Chuo - The PE firm is betting big on Malaysia even as it is open to opportunities in other SE Asian countries. The post SG’s Kendall Court spots big opportunity in tech sector appeared first on DealStreetAsia.

18 hours ago

Market Update: STI hits 3,000-point level after eight months

Tim Charlton - Uploaded By:  Paul Howell Submitted By:  Staff Reporter Case Study:  No The Straits Times Index closed in the green reaching 3,000 level for the first time since March last year. The index went up by 22.49 points or 0.76% during yesterday's trading. Positive initial data from the ...

18 hours ago

Everbright Water issues second tranche of medium term notes amounting up to RMB1 bil

Felicia Tan - China Everbright Water says it has completed the issuance of the second tranche of medium term notes to institutional investors in the inter-bank bond market in mainland China. The second tranche has a principal amount of RMB1 billion ($204.8 million) and is issued by the company itself. The second ...

18 hours ago

Singapore startup Taiger earns its stripes with AI technology

Ken Koyanagi - In a landscape that is rapidly growing more competitive, Taiger is ready to go global. The post Singapore startup Taiger earns its stripes with AI technology appeared first on DealStreetAsia.

18 hours ago

Singtel associate AIS not obliged to transfer telecom equipment or make payment to CAT telecom

Felicia Tan - Singapore Telecommunications (Singtel)’s Thai associate, Advanced Info Service Public Company (AIS) has received the Arbitration Committee resolution which dismissed state-operator CAT Telecom Public Company’s dispute. The resolution was received by AIS’s subsidiary Digital Phone Co (DPC) that ...

19 hours ago

Having a global mindset helps during pandemic times. Watch investors explain why

Team DealStreetAsia - A global footprint helps in hedging risks. The post Having a global mindset helps during pandemic times. Watch investors explain why appeared first on DealStreetAsia.

19 hours ago

Watch experts discuss facets of cross-border investments between India and SE Asia

Team DealStreetAsia - India’s tightening of investment regulations for neighbouring countries opens avenues for SE Asian VCs. The post Watch experts discuss facets of cross-border investments between India and SE Asia appeared first on DealStreetAsia.

19 hours ago

Biden to unveil plan to pump US$1.9 trillion into pandemic-hit economy

President-elect Joe Biden will unveil a stimulus proposal on Thursday designed to jump-start the economy during the coronavirus pandemic and help minority communities with around US$1.9 trillion in aid.

19 hours ago

Commentary: Frustrated with tightened COVID-19 restrictions, Johor residents hope this MCO is the last

With this MCO, Johor residents face a double whammy after coping for months with restrictions on commute to Singapore where many used to earn livelihoods, says Serina Rahman.

20 hours ago

STI rises 0.76% to hit 3,000, first time since March 2020

Claudia Tan - SINGAPORE's benchmark Straits Times Index (STI) rose 0.76 per cent or 22.49 points to close exactly at 3,000 on Thursday, touching this level for the first time since March last year. Across the broader market, gainers outnumbered losers 276 to 203, after 2.52 billion securities worth S$1.27 b ...

20 hours ago

Maybank KE raises Wilmar target price on potential Q4 surprises

Yong Hui Ting - MAYBANK Kim Eng has raised its target price for Wilmar International to S$6.80 from S$5.40 previously, while identifying a number of potential upside surprises for the agri-business group ahead of its Q4 2020 results announcement.

20 hours ago

17 parties have signed NDAs to explore investing in Hyflux: JMs

Lee Meixian - SEVENTEEN parties are interested in the embattled Hyflux and have signed non-disclosure agreements (NDAs) to explore investment, judicial managers (JMs) Borrelli Walsh told perpetual and preference shareholders as well as medium-term note holders at a virtual town-hall meeting on Thursday.

20 hours ago

Singapore Airlines raises US$500m in oversubscribed US-dollar debt debut

Vivienne Tay - SINGAPORE Airlines (SIA) has raised US$500 million via its first US dollar-denominated bond issue. The notes, due 2026, will be issued at 99.573 per cent of their principal amount with an annual coupon of 3 per cent.

20 hours ago

Time to revisit headcount test for scheme meetings: observers

RAE WEE - THE use of a headcount test in scheme meetings - a matter of contention during the recent attempted merger of Sabana Shari'ah Compliant Real Estate Investment Trust (Sabana Reit) and ESR-Reit - should be reviewed, some market players said. There is precedent for its abolishment in Hong Kong, a ...

20 hours ago

First Reit's EGM: What unitholders should know

DAVID GERALD - ON JAN 19, unit holders of healthcare real estate investment trust First Reit, whose assets are mainly hospitals in Indonesia, will attend an extraordinary general meeting (EGM) at which two resolutions have been tabled.

20 hours ago

Takeover price for Sunningdale Tech at S$1.55 too low: Quarz

Claudia Tan - QUARZ Capital Management said on Thursday that the proposed takeover price for Sunningdale Tech at S$1.55 per share is "too low" and "significantly undervalues" the precision plastic components manufacturer.

20 hours ago

Business of looking good glows with work-from-home, mask-wearing

Claudia Tan - THE aesthetics and wellness industry is witnessing an unexpected surge in local demand for cosmetic enhancement procedures, which has made up for some of the loss of earnings from a lack of medical tourism.

20 hours ago

Hin Leong Trading's judicial managers given more time to restructure firm

Anita Gabriel - THE Singapore High Court on Thursday granted a three-month extension on the judicial management order to restructure Singapore's troubled oil trader Hin Leong Trading (HLT) subject to certain conditions, according to sources.

20 hours ago

12,000 visitors throng Normanton Park showroom despite monsoon deluge

Siow Li Sen - NORMANTON Park, probably the last mega project to be launched for a while, saw a heavy turnout during its 13-day preview.

20 hours ago

Courts Singapore taking up Robinsons' former Heeren space

Michelle Zhu - COURTS Singapore on Thursday revealed plans to open a new flagship store spanning six storeys of The Heeren's retail podium.

20 hours ago

Bank Indonesia's new rules for digital payment not expected to deter foreign investors

Shoeb Kagda - FOREIGN investor interest in Indonesia's red-hot digital economy is unlikely to be impacted by the latest regulations by Bank Indonesia (BI) surrounding ownership limits in the country's online payment sector, say industry players.

20 hours ago

Grab faces tough digital bank fight as tech rivals muscle up

Sharanya Pillai - DESPITE fresh firepower valuing it at US$3 billion, Grab's fintech arm faces a tough fight in South-east Asia. This is particularly so since its tech rivals, Sea and Gojek, have scooped up stakes in Indonesian banks amid the consolidation of the country's financial services sector.

20 hours ago

Singapore player Grabs lion's share of food delivery market

Mindy Tan - SINGAPORE-HEADQUARTERED ride-hailing giant Grab has cornered the food delivery market, contributing close to half of South-east Asia's food delivery gross merchandise value (GMV) in a year that saw demand in the region skyrocket.

21 hours ago

Biden plan to pump US$1.9 trillion into pandemic-hit economy: report

Rachel Mui - President-elect Joe Biden will unveil a stimulus proposal on Thursday designed to jump-start the economy during the coronavirus pandemic and help minority communities with around US$1.9 trillion in aid.

22 hours ago

Bitcoin surge helps lift Grayscale assets to record US$20 billion in 2020

Rachel Mui - Grayscale, the world's largest digital currency manager, said on Thursday its assets under management surged more than 900per cent to US$20.2 billion at the end of last year, lifted by record inflows in the fourth quarter and the surge in the price of bitcoin.

22 hours ago

US weekly jobless claims jump on COVID-19, renewed supplementary payments

The number of Americans filing first-time applications for unemployment benefits surged last week, confirming a weakening in labor market conditions as a worsening COVID-19 pandemic disrupts operations at restaurants and other businesses.

22 hours ago

Toyota settles US probe into delayed emissions defect reports for US$180 million

Rachel Mui - Toyota Motor Corp will settle a Justice Department civil probe into its delayed filing of emissions-related defect reports for US$180 million, sources briefed on the matter said.