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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20 hours ago

With Musk bid back on, Twitter employees 'just along for the ride'

Some Twitter employees were engaged in a company-wide planning process for next year on Tuesday (Oct 4) when their phones began buzzing with news that Elon Musk had again reversed course in his on-again, off-again US$44 billion bid to buy the company. This time, the deal was on. The plans they were ...

20 hours ago

Malaysia's end-Sept palm oil stocks seen hitting near three-year peak

KUALA LUMPUR : Malaysia's palm oil inventories at end-September likely swelled to their biggest in nearly three years amid peak production season, a Reuters survey showed on Wednesday.Stockpiles rose 8 per cent from August to 2.27 million tonnes, the highest since October 2019, according to the ...

20 hours ago

Malaysia's end-Sep palm oil stocks seen hitting near three-year peak

KUALA LUMPUR: Malaysia's palm oil inventories at end-September likely swelled to their biggest in nearly three years amid peak production season, a Reuters survey showed on Wednesday (Oct 5). Stockpiles rose 8 per cent from August to 2.27 million tonnes, the highest since October 2019, accordin ...

20 hours ago

Philippines cbank: ready to act to bring inflation within target

MANILA : The Philippine central bank is prepared to take further policy actions to bring inflation toward a target-consistent path over the medium term, it said on Wednesday, following the release of September inflation data.The Bangko Sentral ng Pilipinas also said in a statement that upside risks ...

20 hours ago

Philippines statistics agency: inflation could rise further in Oct

MANILA : Philippine inflation could rise further in October, with food prices likely to remain the main source of pressure, the statistics authority said on Wednesday.Annual inflation quickened in September to 6.9 per cent from 6.3 per cent in August, reflecting higher food prices, data released ear ...

21 hours ago

Asian stocks bounce higher on signs rate hikes are working

HONG KONG : Asian stocks rose on Wednesday as investors grew hopeful future global interest rate rises might become less aggressive amid early signs previous policy tightening was working to temper price pressures in some major world economies.MSCI's broadest index of Asia-Pacific shares outsid ...

21 hours ago

Singapore shares open higher on Wednesday; STI up 0.5%

Ilyas Salim - Singapore stocks climbed in early trade on Wednesday (Oct 5), in line with global peers.

21 hours ago

Philippines inflation quickens to 6.9% in Sept

MANILA : Philippine annual inflation was at 6.9 per cent in September, faster than the previous month's 6.3 per cent, the statistics agency said on Wednesday.September's inflation rate was above the 6.7 per cent forecast in a Reuters poll, and within the central bank's 6.6 per cent to ...

21 hours ago

Philippines' 4-year high inflation boosts chances of more rate hikes

MANILA: Philippine annual inflation quickened to 6.9 per cent in September, hitting its fastest pace in four years, firming up expectations the central bank will hike rates further before the year ends. The September inflation rate, which was above the 6.7 per cent forecast in a Reuters poll, was dr ...

21 hours ago

Foxconn shares rise after offering cautiously optimistic Q4 outlook

TAIPEI : Shares in Taiwan's Foxconn, the world's largest contract electronics maker, rose 3 per cent on Wednesday morning after the company said it was "cautiously optimistic" about its fourth-quarter revenue outlook.Foxconn, a major Apple Inc supplier, also on Tuesday reported r ...

22 hours ago

S Korea central bank expects inflation to stay high for lengthy period

SEOUL : South Korea's central bank said annual consumer inflation is expected to stay high at the 5-6 per cent levels, with upside risks, for a considerable period of time.The Bank of Korea cited high dollar-won exchange rates and major oil producers' production cuts as upside risks, after ...

22 hours ago

Stocks to watch: Sembcorp Marine, Cortina, EuroSports, Japan Foods

Ry-Anne Lim - THE following companies saw new developments that may affect trading of their securities on Wednesday (Oct 5):

22 hours ago

Japan's tourism restart stirs hope of service-sector recovery -PMI

TOKYO : Japan's services sector activity growth posted a small expansion in September as demand recovered on declining COVID-19 cases and the prospect of easing restrictions on foreign tourism boosted hopes of a stronger economic revival.Prime Minister Fumio Kishida this week pledged to raise i ...

22 hours ago

Sembmarine clinches US$3.1b FPSO contract from Petrobras

Vivienne Tay - SEMBCORP Marine (Sembmarine) on Wednesday (Oct 5) said its subsidiary won a US$3.1 billion engineering, procurement and construction contract via an international tender from Brazilian state-owned oil and gas producer, Petroleo Brasileiro (Petrobras).

22 hours ago

APAC Realty, Propnex 'hitting a speed bump' with new property cooling measures: CGS-CIMB

Jovi Ho - The two listed real estate agencies here are “hitting a speed bump” as this week’s property cooling measures bring “near-term headwinds”, writes CGS-CIMB Research analyst Lock Mun Yee.In separate Oct 3 notes, Lock is maintaining “add” on APAC Realty and Propnex. She trims APAC Realty� ...

22 hours ago

NetLink NBN Trust losing attractiveness as a dividend-yielding safe haven: Maybank

Jovi Ho - With strong earnings visibility and stability, NetLink NBN Trust is a defensive play amid the current backdrop of rising inflation and a potential economic slowdown, says Maybank Securities Research analyst Kelvin Tan.That said, ongoing regulatory fibre pricing review remains a key overhang, adds Ta ...

22 hours ago

Dollar steadies as investors heed hawkish reminder from New Zealand

SYDNEY : The dollar steadied on Wednesday after a sharp rate rise in New Zealand poured cold water over hopes for a pause or slowdown in the U.S. Federal Reserve's intentions for aggressive hikes.The dollar had suffered its heaviest setback in more than two years on Tuesday but was back on the ...

22 hours ago

Dollar nurses pullback as traders glimpse rate peaks

SYDNEY : The dollar nursed its biggest losses for years on Wednesday, after a dovish central bank surprise in Australia had investors wondering whether a peak is in sight for global interest rates.Overnight the U.S. dollar fell about 1.6 per cent on the euro to test parity at $0.9999 and 1.3 per cen ...

22 hours ago

Oil prices inch lower ahead of OPEC+ talks on supply cut

SINGAPORE :Oil prices moderated very slightly on Wednesday after gaining more than 3 per cent in the previous session ahead of a meeting of OPEC+ producers to discuss a big cut in crude output.Traders said a stronger dollar was the main reason for the slightly easier prices, as it reduced demand fro ...

22 hours ago

Oil climbs ahead of OPEC+ talks on supply cut

MELBOURNE : Oil prices inched up on Wednesday extending 3 per cent gains in the previous session ahead of a meeting of OPEC+ producers to discuss a big output cut in what energy executives and analysts see as a tightly supplied market.Brent crude rose 11 cents to $91.91 a barrel at 0001 GMT, after c ...

22 hours ago

Tokyo: Shares open higher on Wednesday, extending global rallies

Sharon Lee CM - TOKYO shares opened higher on Wednesday, keeping pace with global rallies on hopes that recent, soft economic indicators may slow the speed of rate hikes by the US central bank. 

23 hours ago

Haidilao's founder piles into Singapore's top homes

Bloomberg - As prices for some of Singapore’s most prestigious homes soar to records, the latest purchase by a China-born restaurant tycoon underscores just how strong demand remains among the world’s super-rich buyers.Sean Shi, one of four co-founders of China’s largest hotpot chain, Haidilao Internation ...

23 hours ago

Musk revives US$44 bil Twitter bid, aiming to avoid trial

Bloomberg - Elon Musk revived a bid to buy for Twitter at the original price of US$54.20 ($77.13) a share, backtracking on his effort to quit the deal and potentially avoiding a contentious courtroom fight.Musk made the proposal in a letter to Twitter on Oct 3, according to a filing with the Securities and Exch ...

23 hours ago

Tesla will remove more vehicle sensors amid Autopilot scrutiny

SAN FRANCISCO: Tesla said on Tuesday (Aug 4) it will remove ultrasonic sensors from its vehicles starting this month, as it moves ahead with using only cameras in its safety and driver-assistant features. Tesla vehicles now have 12 ultrasonic sensors on the front and rear bumpers, and short-range so ...

23 hours ago

Three weeks after previous hike, OCBC raises fixed deposit interest rates again to match UOB

Jovi Ho - OCBC Bank has raised its promotional interest rates on its fixed deposits to match UOB’s hike earlier this week.Effective Oct 4, OCBC is offering 2.9% p.a. interest rate on 12-month fixed deposits of at least $20,000 in fresh funds.OCBC Premier Banking customers get 3.0% p.a., while OCBC Premier P ...

23 hours ago

Musk says Twitter deal is 'accelerant' to creating 'everything app'

Elon Musk said on Tuesday buying Twitter is an "accelerant to creating X, the everything app", after the billionaire proposed to go ahead with his original offer of US$44 billion to take the social media company private. "Twitter probably accelerates X by 3 to 5 years, but I could be ...

23 hours ago

S. Korea's Sept annual inflation slows for second straight month

SEOUL :South Korea's consumer inflation slowed in September, data showed on Wednesday, a week before the central bank's policy meeting and amid growing talk of a bigger-than-usual interest rate increase.The consumer price index (CPI) rose 5.6 per cent in September from the same month a yea ...

23 hours ago

S Korea annual consumer inflation softens for second month in Sept

SEOUL : South Korea's annual consumer inflation came in below expectations and further softened in September, government data showed on Wednesday.The consumer price index (CPI) rose 5.6 per cent in September from the same month a year ago, according to the Statistics Korea data, after a 5.7 per ...

23 hours ago

Sembcorp Marine secures US$3 bil contract from Petrobas

Samantha Chiew - Sembcorp Marine (SembMarine) announced that its wholly-owned subsidiary, Sembcorp Marine Rigs & Floaters, has been awarded an Engineering, Procurement and Construction (EPC) contract for the P-82 Floating, Production, Storage and Offloading (FPSO) vessel through an international tender from Braz ...

23 hours ago

South Korea's September annual inflation slows for second straight month

SEOUL :South Korea's consumer inflation slowed for a second month in September, data showed on Wednesday, but economists said the data would do little to change the central bank's tightening bias amid growing talk it could opt for a bigger hike next week.Economists said the latest data sug ...

23 hours ago

Sembcorp secures $3 billion shipbuilding contract from Brazil's Petrobras

:Singapore's Sembcorp Marine said on Wednesday its unit secured a $3.1 billion contract to build a vessel from Brazilian oil and gas producer Petroleo Brasileiro SA Petrobras. The P-82 Floating, Production, Storage and Offloading (FPSO) vessel will be delivered to the state-owned company in the ...

23 hours ago

Sembcorp secures US$3 billion shipbuilding contract from Brazil's Petrobras

Singapore's Sembcorp Marine said on Wednesday (Oct 5) its unit secured a US$3.1 billion contract to build a vessel from Brazilian oil and gas producer Petroleo Brasileiro SA Petrobras. The P-82 Floating, Production, Storage and Offloading (FPSO) vessel will be delivered to the state-owned compa ...

1 day ago

Understanding the financial implications of sustainability

Francis Kan - THERE has been growing evidence in recent years that companies with a strong environmental, social and governance (ESG) proposition tend to benefit from superior financial performance. This link became even more evident during the pandemic, a crisis that reinforced the need to foster a more incl ...

1 day ago

Commentary: South Korea shows what a nuclear-powered future might look like

Pressure is rising to find alternative energy sources before a looming electricity crunch hurts both consumers and manufacturers. South Korea may have the answer, says Bloomberg Opinion's Anjani Trivedi.

1 day ago

Poor returns show expanding S-Reit market isn’t giving joy to investors

Jude Chan - IN THE beginning, the Singapore market had just a handful of real estate investment trusts (Reits). These were platforms with predominantly domestic assets. And for the early development of the local Reit sector, it was good.

1 day ago

Tech can improve banking experiences, create opportunities

Yong Jun Yuan - MANY different industries, from entertainment to education, have been reshaped by technology in recent years.