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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21 hours ago

Some Huawei suppliers get US approval to restart sales to blacklisted firm

WASHINGTON: The Trump administration on Wednesday gave Huawei its second reprieve this week, allowing some suppliers to restart sales to the Chinese telecoms giant after it was placed on a trade black list over national security concerns six months ago. The Commerce Department said it has begun ...

21 hours ago

CapitaLand sells The Star Vista mall in Singapore for $217m

Deviana Chuo - The sale is expected to generate around S$145 million of net proceeds and around $32 million of net gain for the developer. The post CapitaLand sells The Star Vista mall in Singapore for $217m appeared first on DealStreetAsia.

21 hours ago

Exclusive: LVMH gets access to Tiffany's books after it raises offer - sources

French luxury group LVMH has persuaded U.S. jewelry chain Tiffany & Co to provide it with confidential due diligence after it raised its bid from US$120 per share to close to US$130 per share, people familiar with the matter said on Wednesday.

21 hours ago

Trump says looking at whether Apple should be exempt from China tariffs

U.S. President Donald Trump said on Wednesday he was considering whether to exempt Apple Inc from tariffs on Chinese imports.

21 hours ago

Chipmaker Intel says supply remains tight in PC business; shares slip

Fiona Lam - Intel Corp said on Wednesday it has not been able to keep up with the increasing demand for CPUs and said supply remained "extremely tight" in its personal computer business.

21 hours ago

'We don't have a 5G problem,' says Nokia's head of software

HELSINKI: The head of Nokia's software business Bhaskar Gorti defended the Finnish mobile network manufacturer on Wednesday (Nov 20) against market fears that it is lagging behind its peers Ericsson and Huawei in 5G development. "I don't think we have a 5G problem," Gorti told Reuters in an ...

22 hours ago

Fed shows little appetite for bold policy change sought by Trump

Fiona Lam - As U.S. Federal Reserve officials hone their monetary policy playbook in preparation for the next economic downturn, it appears they will eschew more controversial approaches tried by other global central banks, including one that President Donald Trump has called on the Fed to try.

22 hours ago

White House handling of US-Japan trade deal angers Democrats

Fiona Lam - House Democrats on Wednesday blasted the Trump administration for not consulting sufficiently with Congress while negotiating a mini trade deal with Japan, failing to provide details about it and refusing to testify at a congressional hearing.

22 hours ago

Cybersecurity startup GuardRails raises S$1m in seed round led by Cocoon Capital

Ng Ren Jye - SOFTWARE security startup GuardRails has raised S$1 million in a seed funding round led by Singapore-based early-stage venture capital firm Cocoon Capital.

22 hours ago

Chart of the Day: RCR takes up bigger share of sold new condos priced above $3m in Q3

Staff Reporter - Submitted By:  Clarist Zablan Case Study:  No The recently launched Avenue South Residence sold 26 units sized 1,000-1,500 sqft. This chart from Edmund Tie shows that the proportion of new condo units priced $3m higher that are located in the rest of central region (RCR) grew to 52% in Q3 ...

22 hours ago

Daily Markets Briefing: STI down 0.28%

Staff Reporter - Submitted By:  Staff Reporter Case Study:  No CapitaLand led the gains amongst top active stocks with a 0.3% climb. The Straits Times Index ended 9.09 or 0.28% lower at 3,229.78. The top active stocks were Singtel, which rose 2.51%, DBS, which slipped 0.98%, YZJ Shipbuilding, which dimini ...

22 hours ago

Halkbank seeks to challenge US jurisdiction before entering plea to charges

Turkey's state-owned Halkbank , which U.S. prosecutors have criminally charged with helping Iran evade sanctions, said it should be able to challenge whether U.S. courts can hear the case at all before it entered a formal plea, according to a court filing made public on Wednesday.

22 hours ago

Wall Street falls on concerns about US-China trade deal progress

Fiona Lam - Wall Street edged lower on Wednesday, as hopes of a trade deal receded following an escalation in tensions between Washington and Beijing that also overshadowed upbeat forecasts from retailers Target and Lowe's.

22 hours ago

STI sees red on US-China trade deal woes

Navin Sregantan - CONCERNS that a prospective trade deal between the US and China is teetering towards a setback bared teeth on Wednesday, via the US Senate passing the Hong Kong bill.

22 hours ago

BRC Asia's full-year earnings swell on Lee Metal acquisition

Natalie Choy - MAINBOARD-LISTED steel dealer BRC Asia saw its full-year net profit more than double to S$31.6 million, lifted by the completed acquisition of Lee Metal in July last year.

22 hours ago

aiTrust's private placement raises S$150m

Vivienne Tay - ASCENDAS India Trust (a-iTrust) has raised S$150 million from a private placement that was upsized following strong demand from investors. The placement was 4.1 times subscribed.

22 hours ago

Singapore govt bonds to see steeper yield curve: analysts

Fiona Lam - STEEPENING pressures will persist on the Singapore Government Securities (SGS) bonds' yield curve in the coming weeks, according to DBS and OCBC analysts.

22 hours ago

CapitaLand to sell The Star Vista for S$296m

Natalie Choy - CAPITALAND is selling its stake in a mall to the partner with whom it had jointly developed the property.

22 hours ago

Damaged Festival Walk mall in Hong Kong remains closed

Fiona Lam - THE manager of Mapletree North Asia Commercial Trust (MNACT) said its Festival Walk shopping mall in Hong Kong remains closed until further notice.

22 hours ago

SIAS concerned over lack of finality on Utico's offer

Ng Ren Jye - SECURITIES Investors Association of Singapore (SIAS) founder and CEO David Gerald on Wednesday said SIAS is "seriously concerned that there is no finality yet on Utico's offer" for Hyflux.

22 hours ago

SIA-MAB partnership is about dollars and sense

Anita Gabriel - SOME companies can fit together like a glove, even if they are rivals. In the case of Singapore Airlines (SIA) and Malaysia Airlines Berhad (MAB), the rivalry was created after they became the national flag carriers of Singapore and Malaysia respectively, following the splitting up of Malaysia-Sing ...

22 hours ago

Shophouses in Bali Lane, Duxton Road up for sale by tender

Rachel Mui - A PAIR of shophouses in Bali Lane in Bugis is up for sale by tender at a "fire sale" price of S$9.8 million, while another shophouse at Duxton Road has been launched for sale with a guide price starting from S$4.9 million, marketing agent PropNex Realty announced on Wednesday.

22 hours ago

Wall Street mired in US$2t Saudi Aramco quandary

Chris Hughes - THE scaling back of Saudi Aramco's initial public offering - despite nearly every major investment bank being involved - raises awkward questions about the effectiveness of mammoth syndicates of advisers and IPO book-runners. More appears to be less.

22 hours ago

51% of FIDReC disputes filed against banks and finance companies

Natalie Choy - MORE than half the complaints filed with the Financial Industry Disputes Resolution Centre (FIDReC) for the financial year ended June 30 were against banks and finance companies.

22 hours ago

Home loans more accessible with sliding interest rates

Siow Li Sen - HOMEBUYERS are being enticed by cheaper home loans as interest rates slide in line with softer economic conditions.

22 hours ago

MAS mulls regulating trading of payment token derivatives

Olivia Poh - THE Monetary Authority of Singapore (MAS) is seeking to regulate derivatives of payment tokens such as Bitcoin and Ether by allowing trade only on the four approved exchanges in Singapore.

22 hours ago

New A*Star food innovation institute provides single access point for firms

Janice Heng - THE upcoming Singapore Institute of Food and Biotechnology Innovation (SIFBI) will provide a single touchpoint for industry players interested in food innovation research when it opens by the second quarter of 2020.

22 hours ago

Trade war a negative-sum outcome for Asia

Sharon See - ASIAN economies may have made gains from the US-China trade war at the expense of China - but the gains are less than what China has lost, resulting in a negative-sum outcome for the whole of Asia, a Morgan Stanley economist has suggested.

22 hours ago

Firms should leverage EU-Singapore FTA perks: Chan Chun Sing

Janice Heng - WITH the European Union-Singapore Free Trade Agreement (EUSFTA) entering into force today, Minister for Trade and Industry Chan Chun Sing encouraged the Singapore business community "to look at how they can leverage the benefits that the agreement will bring" in a Facebook post on Wednesd ...

22 hours ago

Asia needs to put more money where its mouth is

Anita Gabriel - ASIANS will fork out over US$8 trillion on food in a decade - more than double the total spend now - while the annual investments in the food sector will jump over two-fold to US$290 billion by then from US$130 billion now across the region, according to a recent report.

22 hours ago

ChildAid celebrates 15 years of giving back

Helmi Yusof - ORGANISED by The Business Times and The Straits Times, ChildAid 2019 was marked by a dash of nostalgia, a sprinkle of stardom and whole lot of good music.

22 hours ago

Charity to pay US$4 million to resolve US pharma kickback probe

Fiona Lam - A Florida-based charity will pay US$4 million to resolve claims that it acted as a conduit for companies including Biogen Inc and Novartis AG to pay kickbacks to Medicare patients using their high-priced multiple sclerosis drugs, the U.S. Justice Department said on Wednesday.

22 hours ago

PayPal to buy rewards platform Honey Science for US$4 billion

Vivienne Tay - Payment processor PayPal Holdings Inc said on Wednesday it would buy privately held shopping and rewards platform Honey Science Corp for about US$4 billion (£3.10 billion).

22 hours ago

US Fed members unanimously reject negative rates: Minutes

Vivienne Tay - WASHINGTON: US central bankers last month dismissed the idea of taking interest rates into negative territory, something President Donald Trump has called for many times, according to meeting minutes released on Wednesday (Nov 20). Evidence for the benefits of negative interest rates - lenders ...

22 hours ago

United Auto Workers accuse union president of false accounting

Vivienne Tay - The United Auto Workers (UAW) said on Wednesday it has filed charges under its bylaws against its president, accusing him of "false, misleading and inaccurate expense records" and saying those charges could lead to his removal from his elected office and expulsion from the union.

22 hours ago

Wall Street falls on concerns of US-China trade deal delay

Vivienne Tay - Wall Street edged lower on Wednesday, as hopes of a trade deal receded following an escalation in tensions between Washington and Beijing that also overshadowed upbeat forecasts from retailers Target and Lowe's.