20 hours ago
China coking coal, coke futures jump on virus concerns
Michelle Quah - Chinese coking coal and coke futures rose on Wednesday, as recent coronavirus outbreak in the country sparked supply concerns for the steelmaking ingredients.
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
20 hours ago
German startups launch mini-rocket challenge to SpaceX and co.
Michelle Quah - Car-manufacturing powerhouse Germany is rushing to join the private sector space race as it looks to ride a boom in mini-launchers for small satellites and compete with major US firms such as SpaceX.
21 hours ago
SK Innovation to split off battery unit, shares fall
Michelle Quah - SK Innovation Co Ltd confirmed plans to make its battery business a stand-alone unit, sending its shares down as much as much as 7.9per cent in morning trade to hit a near four-month low.
21 hours ago
Singapore Governance and Transparency Index inches to new high; SATS, Ascott Residence Trust lead the pack
Raphael Lim - THE Singapore Governance and Transparency Index (SGTI) 2021 inched up for the year to a new high, as locally listed companies and trusts upheld their standards despite the ongoing Covid-19 pandemic.
22 hours ago
Asian shares near 1-wk highs but Delta woes mount
Tan Nai Lun - Asian shares advanced to one-week highs on Wednesday, led largely by strong U.S. corporate earnings, although the mood remained cautious as the rapidly spreading Delta variant of the coronavirus clouds the global economic outlook.
22 hours ago
World shares ride earnings to fresh high, dollar steady
Michelle Quah - Asian shares advanced to one-week highs on Wednesday, led largely by strong U.S. corporate earnings, although the mood remained cautious as the rapidly spreading Delta variant of the coronavirus clouds the global economic outlook.
22 hours ago
Singapore shares fourth spot among best countries for unicorn startups
Vivienne Tay - SINGAPORE is among the top countries in the world for unicorn startups, with six businesses valued at over US$1 billion. It also took the Republic's unicorn businesses an average of six years and 11 months to reach a US$1 billion valuation.
22 hours ago
China’s "Delta" outbreak curbs spending, prompting GDP downgrades
Bloomberg - China’s broadest Covid-19 outbreak since the beginning of the pandemic in late 2019 is hampering tourism and spending during the peak summer holiday, prompting analysts to review their economic growth projections as risks escalate. Authorities rushed to close tourist sites, call off cultural event ...
22 hours ago
Growth in China's July services activity speeds up, but risks loom - Caixin PMI
Michelle Quah - Growth in China's services sector accelerated in July, a private survey showed on Wednesday, although the spread of the COVID-19 Delta variant across the country threatens to undercut the recovery in the world's second-biggest economy.
22 hours ago
Ex-SAF regular gets 14 years’ jail, caning for raping friend and molesting another; preyed on 10-year-old girl
marcel.pereira -
22 hours ago
Singapore stocks open slightly higher on Wednesday; STI up 0.1%
Tan Nai Lun - SINGAPORE shares opened slightly higher on Wednesday, tracking gains on Wall Street. The Straits Times Index (STI) was up 0.1 per cent or 3.05 points at 3,152.30 as at 9.06am.
22 hours ago
Cromwell E-Reit acquires logistics property in UK for £10m, 3% below valuation
Jeanette Tan - A WHOLLY-OWNED subsidiary of Cromwell European Reit (CEReit) has acquired a logistics property in Northwest England for £10.0 million (S$18.8 million), a figure that comes in 3 per cent below its independent valuation of £10.3 million.
22 hours ago
China should better protect minors on the Internet, says state media, a day after 'spiritual opium' article
Michelle Quah -
23 hours ago
Singapore banks report strong profit growth, loan losses decline
Michelle Quah -
23 hours ago
Stocks to watch: UOB, OCBC, Cromwell E-Reit, Del Monte, OUE, Prime US Reit
Yong Jun Yuan - THE following companies saw new developments that may affect trading of their securities on Wednesday:
23 hours ago
DBS appoints Dragonfly MD Judy Lee as independent director to board of directors
Felicia Tan - DBS Group Holdings announced, on Aug 4, that it has appointed Judy Lee as non-executive and independent director to the boards of the group as well as DBS Bank, effective on the same day. Lee will also serve as a member of the bank’s audit committee, board risk management committee and compensatio ...
23 hours ago
Del Monte unit defers Philippine IPO amid Covid-19 surge
Michelle Zhu - DEL Monte Pacific on Wednesday announced its decision to delay plans for the initial public offering (IPO) of its 87 per cent-owned subsidiary, Del Monte Philippines, on the Philippine Stock Exchange (PSE).
23 hours ago
Cromwell European REIT enters UK with acquisition of logistics asset for GBP10 mil
Atiqah Mokhtar - The manager of Cromwell European REIT (CEREIT) has announced the acquisition of a freehold logistics asset in the UK for GBP10 million ($18.8 million) on August 4. This marks the REIT’s first UK acquisition. “We’ve been studying the UK market for some time and actively looking for accretive op ...
24 hours ago
Singapore banks restore dividends as allowances fall, see improved outlook
Jamie Lee - OCBC and UOB returned their dividend payouts to pre-pandemic levels as the Singapore regulator lifted the cap on dividends paid against their 2021 earnings.
24 hours ago
HSBC Singapore rolls out global fund transfer feature on mobile app
Natalie Choy - HSBC Singapore has launched a new mobile in-app feature that allows customers to send money to overseas accounts with the same ease, transparency, and speed of doing a fund transfer and payment in Singapore.
1 day ago
UOB posts 43% higher earnings of $1.0 bil in 2Q21 with interim dividend of 60 cents per share
Felicia Tan - United Overseas Bank (UOB) has reported a 43% y-o-y growth in earnings of $1.0 billion for the 2QFY2021 ended June, bringing its total net earnings for the 1HFY2021 to $2.0 billion, 29% higher than earnings of $1.56 billion for the corresponding period the year before. See: UOB Kay Hian predicts DBS ...
1 day ago
OCBC’s 2Q21 net profit rises 59% to $1.16 bil, interim DPS of 25 cents declared
Atiqah Mokhtar - Oversea-Chinese Banking Corporation (OCBC) reported net profit of $1.16 billion for the 2QFY2021 ended June, a 59% y-o-y increase from $730 million previously. On a q-o-q basis, OCBC’s net profit fell 23% from the 1QFY2021 net profit of $1.5 billion. 1HFY2021 net profit amounted to $2.66 billion, ...
1 day ago
Big strategic decisions await Samsung's Lee as momentum builds for his parole
Michelle Quah - With bated breath, management at Samsung Electronics is waiting to see if the conglomerate's leader, Jay Y. Lee, will be released on parole this month.
1 day ago
UOB positive on Asean despite pandemic; Q2 net profit up 43%
Jamie Lee - UOB's net profit for its second quarter rose 42 per cent, as more economies reopened and as it posted lower credit allowance, it said on Wednesday.
1 day ago
UOB Q2 net profit up 43%; declares S$0.60 dividend
Jamie Lee - UOB's net profit for its second quarter rose 42 per cent, as more economies reopened and as it posted lower credit allowance, it said on Wednesday.
1 day ago
OCBC betting on China's wealth market as Q2 net profit rises 59%
Jamie Lee - OCBC is looking to strengthen its presence in the Greater Bay Area, and is betting especially on the wealth market in China, its chief executive officer Helen Wong said on Wednesday as her bank reported a 59 per cent increase in net profit for its second quarter, as credit allowan ...
1 day ago
OCBC Q2 net profit up 59%; declares S$0.25 dividend
Jamie Lee - [BANK]OCBC's net profit for its second quarter rose 59 per cent, riding on an improved economic outlook, it said on Wednesday[DAY].
1 day ago
Facebook's WhatsApp rolls out option for disappearing photos, videos to take on Snapchat
Michelle Quah - Users of Facebook Inc's WhatsApp can now send disappearing photos and videos on its platform starting this week, as it looks to better compete with Snap Inc's photo messaging app Snapchat.
1 day ago
Singapore, regional bourses dip on Delta variant concerns
Tay Peck Gek - SINGAPORE stock market declined on Tuesday, along with most Asian bourses as investors were concerned that the flare-ups in China and the United States caused by the Delta variant of the novel coronavirus might wreak havoc on global economies and supply chains.
1 day ago
CGS-CIMB upgrades iFast to 'add', raises target price after HK project update
Michelle Zhu - CGS-CIMB has upgraded iFast Corporation to "add" while raising its target price to S$12.50 from S$8.31, after the wealth management platform on Saturday said it has finalised its Hong Kong eMPF (Mandatory Provident Fund) project contract with PCCW Solutions.
1 day ago
Grab posts US$111m negative Ebitda in Q1, US$652m net loss
Sharanya Pillai - SINGAPORE-BASED Grab recorded US$111 million in adjusted losses before interest, taxes, depreciation and amortisation (or negative Ebitda) for the first quarter ended March, narrowed from US$344 million in the previous year, the company announced on Monday evening.
1 day ago
Singapore Medical Group H1 earnings more than double on demand for diagnostics, aesthetics services
Yong Jun Yuan - THE H1 net profit of Singapore Medical Group (SMG) more than doubled to S$7.2 million for the half-year period ended June 30, up from S$3.5 million a year ago due to rising demand for the group's aesthetics, Lasik and diagnostic imaging-related services.
1 day ago
Encouraging greater activity on private exchanges may help liven up Singapore's capital markets
Raphael Lim - LISTING activity in the Singapore markets has lagged regional peers in the first half of this year, and many new economy startups are choosing to look abroad when they want to go public.
1 day ago
ecoWise CEO 'shocked' by recent developments; alleges decisions were taken without his consent
Michelle Quah - THE troubles besetting Catalist-listed ecoWise Holdings show little sign of abating, and its founder, executive chairman and chief executive Lee Thiam Seng has expressed his "shock" and "concern" over recent moves made by the company, which he says were executed without his cons ...
1 day ago
SPH ends up, Keppel down after privatisation proposal
Tan Nai Lun - INVESTORS appeared to cheer Keppel Corp's surprise bid to take Singapore Press Holdings (SPH)'s non-media business private, and analysts have been mostly positive on the expected value for both Keppel and SPH shareholders.
1 day ago
Singapore property executives flag rising construction costs as top risk
Vivienne Tay - RISING costs of construction is the top potential risk factor that may temper sentiment in the next six months, a poll among senior executives of real-estate firms has found.