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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1 day ago
Core capital goods orders dip, but shipments surge
Today - WASHINGTON, March 24 - - New orders for key U.S.-made capital goods unexpectedly fell in February, but a surge in shipments amid demand for machinery and electrical equipment supported expectations for an acceleration in business investment in...
1 day ago
Trump administration grants permit for Keystone XL pipeline: TransCanada
The United States has issued a presidential permit for TransCanada Corp's Keystone XL oil pipeline, the Canadian company said on Friday, ending a years-long battle between environmentalists and the industry over whether Washington should approve it.
1 day ago
London landlords are hoisting for sale signs on office towers
[LONDON] London landlords are offloading some of their most valuable properties as demand from investors in the Asia Pacific region continues despite the Brexit vote.
1 day ago
US gives final approval for Keystone XL pipeline
[WASHINGTON] President Donald Trump's administration said Friday it has granted a permit for TransCanada to build the Keystone XL oil pipeline, giving final approval to a project his predecessor had halted over environmental concerns.
1 day ago
Hong Kong likely to choose Beijing's pick for leader amid economic malaise
[HONG KONG] Hong Kong on Sunday will likely select Beijing's favoured candidate for its next leader who some say will further divide a city where middle class families have become increasingly disaffected by political tension and economic hardship.
1 day ago
Confusion and fear: Theresa May's London attack escape
[LONDON] In a less-than-slick escape from parliament when her staff appeared rattled as a lone assailant rampaged just yards away, Prime Minister Theresa May dashed around a car park and looked lost as she searched for her ride before escaping.
1 day ago
Europe\'s financial lifeline from London in doubt
Today - FRANKFURT - For companies in the European Union, London is the chief gateway to finance. Rerouting the financial lines that run through London will be complex, experts say. London dominates wholesale banking in Europe, a 5.8 trillion euro ($6.2...
1 day ago
Blackstone sells 21 percent stake in SeaWorld to China\'s Zhonghong Zhuoye
Today - China-based Zhonghong Zhuoye Group Co Ltd will buy Blackstone Group LP's 21 percent stake in SeaWorld Entertainment Inc , the embattled U.S.-based marine park operator said on Friday. SeaWorld said Zhonghong will buy...
1 day ago
TransCanada gets presidential permit for Keystone XL
Today - TransCanada Corp said on Friday the U.S. Department of State issued a presidential permit for the construction of the Keystone XL pipeline linking Canadian oil sands to U.S. refiners, a project blocked by former President Barack Obama. ...
1 day ago
Blackstone sells 21 percent stake in SeaWorld to China's Zhonghong Zhuoye
China-based Zhonghong Zhuoye Group Co Ltd will buy Blackstone Group LP's 21 percent stake in SeaWorld Entertainment Inc , the embattled U.S.-based marine park operator said on Friday.
1 day ago
Europe's financial lifeline from London in doubt
For companies in the European Union, London is the chief gateway to finance. Rerouting the financial lines that run through London will be complex, experts say.
1 day ago
Exclusive: Trump to approve Keystone XL at meeting with TransCanada CEO - official
U.S. President Donald Trump will announce the approval of the Keystone XL oil pipeline at the White House on Friday, alongside the chief executive officer of builder TransCanada Corp, according to a senior administration official.
1 day ago
German environmental lobby sues motor authority over VW scandal
Today - HAMBURG/BERLIN - German environmental group Deutsche Umwelthilfe (DUH) has filed a suit against German motor authority KBA, accusing it of failing to act robustly enough over Volkswagen's diesel emissions scandal. Volkswagen...
1 day ago
Credit Suisse CEO pockets $12 million despite back-to-back losses
Today - ZURICH - Credit Suisse Chief Executive Tidjane Thiam's pay for his first full year in the job swelled to 11.9 million Swiss francs ($12 million), while bonuses rose 6 percent despite back-to-back annual losses at Switzerland's second-biggest...
1 day ago
PPG to make case for Akzo acquisition to Dutch government officials
Today - AMSTERDAM - The chief executive of U.S. paint maker PPG meets Dutch government officials on Friday to make the case for its proposed 22.7 billion euro ($24.5 billion) takeover of Dutch peer AkzoNobel . PPG was also...
1 day ago
BMW-Brilliance China vehicle sales to rise 20 percent in 2017: Brilliance chairman
Today - HONG KONG - Sales for German automaker BMW AG's China venture are expected to increase 20 percent year-on-year in 2017, the chairman of its joint venture partner Brilliance China Automotive Holdings said on Friday. ...
1 day ago
Yangzijiang picks up 30% of Chinese investment fund
Tan Hwee Hwee - YANGZIJIANG Shipbuilding (YZJ) has, through a wholly-owned subsidiary, picked up a significant stake in an investment fund in China.
1 day ago
Lung Kee's net profit leaps to HK$191.7m for 2016
Hoe Pei Shan - HONG KONG-based mould maker Lung Kee (Bermuda) on Friday posted a full year net profit of HK$191.7 million (S$34.5 million) for 2016, a jump of more than 50 per cent compared with the previous year.
1 day ago
China's selfie app Meitu reports smaller loss in 2016
[HONG KONG] Chinese photo app and mobile phone maker Meitu Inc said annual net loss narrowed 24 per cent last year, in its first earnings results since its landmark debut in Hong Kong.
1 day ago
Singapore expands Startup SG schemes, to simplify fund rules
Shiwen Yap - In a bid to boost its investment ecosystem. The post Singapore expands Startup SG schemes, to simplify fund rules appeared first on DealStreetAsia.
1 day ago
Daily Debrief: What Happened Today
1 day ago
Credit Suisse CEO pockets US$12 million despite back-to-back losses
Credit Suisse Chief Executive Tidjane Thiam's pay for his first full year in the job swelled to 11.9 million Swiss francs (US$12 million), while bonuses rose 6 percent despite back-to-back annual losses at Switzerland's second-biggest bank.
1 day ago
Nam Cheong 'confident' of restructuring existing debt
Kenneth Lim - NAM Cheong is "confident" that it can restructure its existing obligations to remain a going concern, the builder of offshore support vessels said on Friday in response to queries from the Singapore Exchange.
1 day ago
Uber rival Grab set for new $1.5 funding round, SoftBank pledges $1b
Lulu Yilun Chen - Grab had raised $750m in September 2016 at a valuation of more $3b. The post Uber rival Grab set for new $1.5 funding round, SoftBank pledges $1b appeared first on DealStreetAsia.
1 day ago
Healthcare vote delay worries stocks, dollar
All eyes in global financial markets were fixed on stuttering Republican efforts to pass a replacement for Obamacare on Friday, with failure likely to undermine faith in Donald Trump’s promise to deliver a "phenomenal" U.S. tax reform.
1 day ago
Avoid buying Malaysian small caps now, top manager says
[KUALA LUMPUR] The surge in Malaysian small caps over the last few months may be reason enough to avoid buying many of them now.
1 day ago
Why the USDSGD could spike before July but tumble after
Kang Wan Chern - SINGAPORE (March 24): The US Dollar is expected to see a steep spike against the Singapore Dollar within the next three months but end the year on weaker ground, says Tan Teck Leng, chief investment officer at UBS Wealth Management. "The market hasn't fully priced in the impact of the next two rate hikes this year, but should start doing so within the next 2-3 months," says Tan. The US Federal Reserve is expected to raise rates twice more this year and thrice in 2018. That could pull the USDSGD to a high of 1.46 by July as the market adjusts to higher interest rates and a stronger greenback. In addition, UBS also believes the Monetary Authority of Singapore will keep its present zero appreciation exchange rate policy unchanged at its next meeting in April. With core inflation picking up and exports having expanded 21.5% year on year in February, MAS should maintain its current monetary policy, especially with little clarity available on the direction US President Donald Trump intends to pursue in terms of trade with China. That should stay the value of the SGD against the USD over the short term, says Tan. Trading in the SGD should also stay muted as market jitters rise ahead of the first round of the French Election on April 23. "The result of the recent Dutch election, which saw Prime Minister Mark Rutte's liberal VVD party hold its ground against the right-wing Freedom Party, could cause the fear of populism in France to subside," says Tan. If that happens, it could lead to a poorer than expected voter turnout at the French Elections on April 23, which would play into the hands of right-wing National Front candidate Marine Le Pen. That's worrying because radical voters disenchanted with the status quo in France are more likely to show up to vote for a leadership change. French unemployment, for example, has been stuck at 10% since the global financial crisis. In comparison, Dutch unemployment is down to 5%. As such, a lower turnout of liberal voters may well tip the scale towards a Le Pen win in the first round of the elections, which will raise nervousness in the market and cause the SGD to weaken. Beyond the next three months, however, Tan reckons the SGD will eventually regain its strength. He is expecting the USDSGD to fall to 1.42 by Sept and slip below its current level of 1.40 towards 1.38 a year from now. "Ultimately, we don't expect Le Pen to win the second round of the French Elections on May 7," says Tan. "After the first round of the election, we would expect the SGD to start strengthening." In addition, President Donald Trump's Administration will likely do a poor job executing his promise to reform healthcare, which, in turn, will raise doubts about his ability to cut taxes and raise infrastructure spending. That will all cause the strength of the USD to pull back against the SGD, says Tan.
1 day ago
Malaysia: Shares closer lower on Friday
MALAYSIA share prices closed lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 1.250 points to 1,745.750.
1 day ago
All drill, no frack: US shale leaves thousands of wells unfinished
U.S. shale producers are drilling at the highest rate in 18 months but have left a record number of wells unfinished in the largest oilfield in the country – a sign that output may not rise as swiftly as drilling activity would indicate.
1 day ago
Singapore shares close 16 points higher on Friday
R Sivanithy - ON Friday, trading was largely cautious as traders waited for direction from the US, but a 50-point rise in the Dow futures session saw the Straits Times Index rise 15.97 points to 3,142.9, reducing its loss for the week to 27 points or 0.85 per cent.
1 day ago
Exclusive: HSBC to boost China staff by up to 1,000 in 2017, mostly in Pearl River Delta
Today - HONG KONG - HSBC plans to add as many as 1,000 new employees to its Chinese retail banking and wealth management arm this year, the business's regional head said, most of them in the Pearl River Delta, the heart of the bank's growth strategy in...
1 day ago
German private sector growth strongest in 70 months in March
[BERLIN] Germany's private sector grew at the fastest pace in nearly six years in March, a survey showed on Friday, driven mainly by strong demand for manufactured goods from the United States, China, Britain, and the Middle East.
1 day ago
Smartphone maker Samsung backs away from planned split
The world's biggest smartphone maker Samsung, assailed by a shambolic recall and embroiled in South Korea's wide-ranging corruption scandal, on Friday backed away from a planned corporate restructuring.
1 day ago
Europe: Shares inch lower before US healthcare vote; Credit Suisse up
[MILAN] European shares were down slightly in early trading on Friday with all eyes still on a vote on US President Donald Trump's healthcare bill which has been delayed to later in the day.
1 day ago
LTA scuppers national bicycle-sharing plans as privately-funded firms emerge
Soon Weilun - THE Singapore government is pulling the plug on a planned national bicycle-sharing system, as privately-funded dockless bicycle-sharing services start to roll out on Singapore's streets.
1 day ago
LTA scuppers national bicycle-sharing plans as third-party firms emerge
Soon Weilun - THE Singapore government is pulling the plug on a planned national bicycle-sharing system, as privately-funded dockless bicycle-sharing services start to roll out on Singapore's streets.