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

Company leaders should go beyond initiating mental health initiatives and speak up about own struggles: TODAY webinar panellists

asyrafkamil -

2 days ago

Covid-19: 1,090 new cases and 3 more deaths in Singapore; weekly infection growth rate at 0.74

asyrafkamil -

3 days ago

Payments firm Klarna's Jan-Sep losses grow on soured credits

STOCKHOLM : Losses for Swedish payments firm Klarna deepened in the year to the end of September, while transactions using its platform jumped in the final three months of the period, results published on Friday showed.Operating losses at Klarna, a "buy now, pay later" company, widened to ...

3 days ago

ecoWise EGM 'voluntarily postponed'

Kelly Ng - SHAREHOLDERS who had called for an extraordinary general meeting (EGM) to remove the deputy chief executive at strife-hit ecoWise Holdings have "voluntarily postponed" the meeting, which was to have been held on Friday (Nov 26).

3 days ago

From cruise operators to airlines: 'Reopening' stocks tumble on variant fears

Companies benefiting from this year's economic reopening, including AMC Entertainment, United Airlines and Carnival Corp, were hammered on Friday by fears over a new and possibly-vaccine resistant coronavirus variant.The variant, discovered in South Africa, prompted several countries to tighten ...

3 days ago

Asia prices inch down on COVID concerns; fundamentals remain bullish

LONDON : Asian liquefied natural gas (LNG) prices inched lower this week on concerns over the potential impact of a new coronavirus variant, but were still supported by higher heating demand and tight shipping availability. The average LNG price for January delivery into Northeast Asia slipped to U

3 days ago

SoftBank in investment talks with Chinese mRNA vaccine firm Abogen - sources

HONG KONG/BEIJING : Chinese mRNA vaccine developer Suzhou Abogen Biosciences is in talks with Japan's SoftBank and other investors to raise US$300 million-US$400 million, people familiar with the matter said. The fundraising by Abogen is in its final stages, although the sum may change, accordi ...

3 days ago

ThaiBev mulling price increase on key products amid cost pressures; FY21 net profit up 8.3% to 24.6 billion baht

Uma Devi - THAI Beverage Public Company (ThaiBev) on Friday (Nov 26) reported net profit of 24.6 billion baht (S$1 billion) for the full fiscal year 2021 ended September, some 8.3 per cent higher than earnings of 22.8 billion baht in the year-ago period.

3 days ago

Explainer: What do we know about the new B.1.1.529 Covid-19 variant, and should Singapore be concerned?

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3 days ago

Myanmar military threatens jail for buyers of bonds issued by opposition

[YANGON] Myanmar's ruling military threatened on Friday to arrest citizens who invest in bonds offered by a shadow government -

3 days ago

New and improved animal quarantine centre near Chua Chu Kang to better monitor imported pets’ health

siewfern -

3 days ago

Global equity funds see lowest inflow in eight weeks - Lipper

Global equity funds drew their lowest inflow in eight weeks in the week ended Nov. 24, as investors upped bets on U.S. rate hikes in 2022 after President Joe Biden picked Federal Reserve Chair Jerome Powell to lead the central bank for a second term.Investors purchased global equity funds worth a ne ...

3 days ago

Singapore’s Loh Kean Yew continues fairytale run, qualifies for Indonesia Open semi-finals

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3 days ago

China says it will expand scope of banks' forex derivatives business

BEIJING : China's foreign exchange regulator said on Friday it would expand the scope of banks' foreign exchange derivatives business.Qualified banks can provide derivatives services between yuan and foreign currencies to cooperative banks, including forward settlements and currency swaps, ...

3 days ago

Singtel, M1-StarHub tie-up, and TPG provisionally awarded 2.1 GHz spectrum rights for 5G networks

Kelly Ng - SINGTEL and an M1-StarHub consortium have each been provisionally awarded 5 lots of 5 megahertz (MHz) paired spectrum, while Australian network TPG Telecom has been provisionally awarded 2 lots of 5MHz paired spectrum in Singapore's latest auction to make available more spectrum to support the ...

3 days ago

Chinese e-commerce platform Pinduoduo slumps after revenue miss

BEIJING :U.S.-listed shares of Pinduoduo Inc plunged as much as 18per cent in early trading on Friday after the Chinese e-commerce platform missed quarterly revenue expectations as new coronavirus outbreaks hit consumer spending.Shares of Shanghai-based Pinduoduo had already fallen nearly 54per cent ...

3 days ago

Chinese e-commerce platform Pinduoduo slides 19per cent in pre-market trade after revenue miss

BEIJING :Shares in Chinese e-commerce platform Pinduoduo Inc plunged 19per cent in pre-market U.S. trade on Friday after the company missed quarterly revenue expectations as new outbreaks of the coronavirus hit consumer spending.Shares of Shanghai-based Pinduoduo had already fallen nearly 54per cent ...

3 days ago

China's Pinduoduo revenue disappoints as pandemic-led shopping boom wanes

:Chinese e-commerce platform Pinduoduo Inc posted quarterly revenue that missed market estimates on Friday as the appetite for online shopping diminished with vaccinations and relaxed curbs aiding the reopening of the economy. Shares of the Shanghai-based company, down nearly 54per cent this year, f ...

3 days ago

Pinduoduo misses quarterly revenue estimates

Chinese e-commerce platform Pinduoduo Inc posted quarterly revenue that missed market estimates on Friday, hurt by stiff competition from rivals Alibaba and JD.com Inc amid the pandemic-driven online shopping boom.Total revenue was 21.51 billion yuan (US$3.37 billion)in the third quarter, below anal ...

3 days ago

ThaiBev achieves best score in 2021 Dow Jones Sustainability Index

Goola Warden - Thai Beverage Public Co (ThaiBev) announced it has achieved the best score in the Beverage Industry in the 2021 Dow Jones Sustainability Index (DJSI), marking the fourth consecutive year it has done so. ThaiBev has also remained a constituent of the DJSI World Index and the DJSI Emerging Markets Ind ...

3 days ago

Thai oil firm PTT expands pharma business with US$475 million Alvogen deal

BANGKOK : Thailand's state-owned oil firm PTT is set to expand further into pharmaceuticals as part of a consortium acquiring a unit of drugmaker Alvogen, the parent of Taiwan's Lotus Pharmaceutical, PTT said on Friday.A consortium of PTT and Icelandic investment fund Aztiq have agreed a U ...

3 days ago

Markets pressured by Covid with HSI heading lower as STI hits support

Goola Warden - Global markets are somewhat unnerved by the new Covid variant and mutation in Southern Africa, causing sectors that had expected a recovery to retreat. Perversely, market turmoil, if it continues, coupled with oil price decline could stay the hand of the US Federal Reserve in raising interest rates. ...

3 days ago

India central bank sidesteps proposal on corporate ownership of banks

MUMBAI :India's central bank said on Friday it would reform rules on the structure of private sector banks but a source familiar with the matter said the changes would not include allowing industrial groups to own lenders.Under the new rules significant shareholders in a non-state bank, known a ...

3 days ago

India's cental bank to adjust private bank ownership rules

MUMBAI : India's central bank has accepted a majority of recommendations made by an internal working group on the ownership and corporate structure of private sector banks, but said it was still examining other proposals including one regarding industrial ownership.The Reserve Bank of India ...

3 days ago

Hotel occupancy rates remain steady as Singapore visitor arrivals pick up in October

Tessa Oh - SINGAPORE'S international visitor arrivals picked up in October from a month before, though hotel occupancy rates remained almost unchanged month-on-month.

3 days ago

Sharp drop in UOA Development 3Q net profit from a year earlier

KUALA LUMPUR (Nov 26): UOA Development Bhd said on Friday its third quarter net profit dropped 84.13% to RM33.15 million from RM208.93 million a year earlier as revenue fell on lower sales from existing property projects and after the company registered a-year-earlier higher progressive income recog ...

3 days ago

Asian Healthcare Specialists H2 profit up 56.4 per cent to S$2.45m

Kelly Ng - MEDICAL services group Asian Healthcare Specialists (AHS) posted a 56.4 per cent increase in net profit to S$2.45 million for the second half of the year.

3 days ago

ThaiBev's FY2021 earnings inched higher, dampened by Covid

Goola Warden - Thai Beverage Public Co reported a net profit after minority interests and tax of Baht24,644 million in FY2021 for the 12 months to Sept 30, up 8% y-o-y. However, sales revenue for the year fell by 5.1% y-o-y to Baht240,543 million for the year , a decrease of 5.1% year-on-year due to the continued ...

3 days ago

Novo Nordisk says lower insulin prices in China dent 2022 outlook

COPENHAGEN : Novo Nordisk on Friday forecast its sales growth would slow by about 3per cent in 2022 because of lower prices and a drop in insulin sales volumes in China, denting the Danish diabetes drug maker's share price.The forecast comes after Novo received results from China's Volume ...

3 days ago

Carmakers get inventive as global chip crisis bites

MUNICH:  Whether buying computer chips directly from manufacturers, reconfiguring cars, or producing them with parts missing, automakers are having to get creative to cope with the global shortage of semiconductors. The shortage, due to supply problems and a surge in demand for consumer electrica

3 days ago

Evergrande founder sells 9per cent stake for US$344 million amid debt crunch

HONG KONG : The chairman of China Evergrande Group Hui Ka Yan sold 1.2 billion shares in the company at an average price of HKUS$2.23 each on Thursday, Hong Kong Stock Exchange filings show.The share sale, which is worth a total of HKUS$2.68 billion (US$344 million), lowers Hui's stake in the S ...

3 days ago

UOB and HSBC act as green loan coordinators on club loan for Gaw-led consortium

Goola Warden - On Nov 26, United Overseas Bank announced that UOB and HSBC acted as green loan coordinators on club loan facilities of HK$1.85 billion to a Gaw Capital Partners-led consortium. These facilities comprise a US$110 million offshore loan and a RMB837 million onshore loan. Maybank, BNP Paribas and KGI a ...

3 days ago

KKR offer prompts Telecom Italia board showdown over CEO

MILAN :Telecom Italia (TIM) looked set to lose its fourth CEO in six years on Friday after Luigi Gubitosi told the board he was ready to quit the role if that helped speed their decision over KKR's US$12 billion takeover proposal.The board of Italy's biggest telecoms company began a meetin ...

3 days ago

KKR offer prompts Telecom Italia board showdown over CEO's future

MILAN : Telecom Italia faces another boardroom showdown after Luigi Gubitosi told them he was ready to quit as chief executive if that helped speed their decision over KKR's takeover proposal.The board of Telecom Italia (TIM), which meets at 1400 GMT on Friday, will also discuss the impact on e ...

3 days ago

Japan Finance Minister says Mizuho should have 'sense of crisis' over system failure

TOKYO : Japanese Finance Minister Shunichi Suzuki said on Friday Mizuho Financial Group should have a "sense of crisis" over a series of system glitches, and prevent a recurrence.Suzuki also told reporters after a cabinet meeting it was "extremely regrettable" that the banking ar ...

3 days ago

Eneos to sell JX Nippon Exploration and Production to NEO Energy

TOKYO : Japan's Eneos Holdings Inc said on Friday it will sell its British subsidiary JX Nippon Exploration and Production (UK) to NEO Energy Upstream UK. The unit was valued at US$1.655 bln at the end of March, Japan's biggest refiner said in a stock market filing, with a final deal price ...