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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14 hours ago
ST Engineering's aerospace segment profits up 6% to $79m
Staff Reporter - This is due to contributions from the engineering & material services segment. One of ST Engineering's brightest spots in the past quarter is its aerospace segment. According to UOB Kay Hian, the group's aerospace segment recorded a 6.3% jump in profits before taxes (PBT) to $79m in the ...
14 hours ago
Singapore shares open lower on Thursday
Lee Meixian - SINGAPORE share prices opened 0.51 per cent lower on Thursday with the Straits Times Index down 16.67 points to 3,262.28 at 9.05 am.
14 hours ago
Daily Markets Briefing: STI down 0.48%
Staff Reporter - Gains from Wall Street could lift local sentiment. The Straits Times Index (STI) ended 15.98 points or 0.48% lower to 3278.95, taking the year-to-date performance to +13.82%. The top active stocks today were DBS, which declined 1.88%, Singtel, which closed unchanged, OCBC Bank, which declined 0.18% ...
14 hours ago
Singapore exports up 8.5% in July in third straight month of growth
David Hughes - SINGAPORE: Non-oil domestic exports (NODX) in Singapore rose by 8.5 per cent year-on-year in July, the third consecutive month of growth, according to statistics released by trade agency International Enterprise (IE) Singapore on Thursday (Aug 17). July's rise comes after exports grew slightly in .. ...
14 hours ago
Oxley's maiden hotel to open next year
Staff Reporter - It has secured a temporary occupation permit recently. Homegrown property developer Oxley Holdings Limited has secured a temporary occupation permit for its hotel development. According to the group, the hotels are expected to commence operations in the second quarter. The development comprises a 2 ...
14 hours ago
Violence prompts US Congress to discuss militant threats
[WASHINGTON] A US congressional panel next month will hold a hearing on violent extremism, including threats from domestic militants, following a white supremacist rally in Charlottesville, Virginia, that turned deadly.
15 hours ago
Stocks to watch: Loyz, Hatten, Keppel, IPS Securex, United Global, Creative Tech
PC Lee - SINGAPORE (Aug 17): Here are some stocks that could move the market this Thursday morning: Loyz Energy, the oil and gas exploration and production company, has swung back into the black in FY17, reporting earnings of US$12.9 million ($17.6 million) for FY17 due to a US$19.4 million gain in other inc ...
15 hours ago
ComfortDelGro ramps up efforts to stem its taxi woes
Staff Reporter - It recently reported dismal taxi figures for the past quarter. The competition is getting intense in the taxi landscape and ComfortDelGro is feeling the pressure. According to UOB Kay Hian, the group's taxi idle rate continues to creep up, reaching 5% compared to 3.5% in the preceding quarter. ...
15 hours ago
Stocks to watch: Keppel Corp, Oxley Holdings, Loyz Energy
Lee Meixian - THE following companies saw new developments that may affect trading of their shares on Thursday:
15 hours ago
CDL sees signs of bottoming out in Singapore's office market
Staff Reporter - The group remains positive on the rental growth potential. Property developer City Developments Limited is observing some signs of bottoming out in the Singapore office sector. According to UOB Kay Hian, the group is optimistic of rental growth potential given the decrease in the supply of private ...
15 hours ago
Loyz Energy back in the black, posts profit of US$11.4m for Q4
Lee Meixian - THE successful renegotiation of the consideration for the acquisition of a Thailand concession between Loyz Energy and Carnarvon Thailand, resulting in a gain on derecognition of deferred consideration of US$19 million, boosted results for Loyz Energy (Loyz) for its fourth quarter.
15 hours ago
Loyz Energy reverses Q4 losses after successful renegotiation of Thai concession
Lee Meixian - THE successful renegotiation of the consideration for the acquisition of a Thailand concession between Loyz Energy and Carnarvon Thailand, resulting in a gain on derecognition of deferred consideration of US$19 million, boosted results for Loyz Energy (Loyz) for its fourth quarter.
15 hours ago
Fed starts to wonder if cornerstone inflation model still works
Bloomberg - WASHINGTON (Aug 17): Federal Reserve officials are looking under the hood of their most basic inflation models and starting to ask if something is wrong. Minutes from the July 25-26 Federal Open Market Committee meeting showed a revealing debate over why the economy isn’t producing more inflation ...
15 hours ago
Singapore July exports rise 8.5% year-on-year, lag expectations
Today - SINGAPORE - Singapore's non-oil domestic exports (NODX) rose in July from a year ago, helped by strength in electronics shipments and sales of petrochemicals, official data showed on Thursday (Aug 17). Exports increased 8.5 per cent in July from a year...
15 hours ago
Tokyo: Stocks open lower
[TOKYO] Tokyo stocks opened lower on Thursday with banks in retreat after US Federal Reserve policymakers hinted at a slower pace of future interest rate hikes in their July meeting.
15 hours ago
Singapore exports up 8.5% in July in second straight month of growth
David Hughes - SINGAPORE: Non-oil domestic exports (NODX) in Singapore rose by 8.5 per cent year-on-year in July after exports rebounded in June, according to statistics released by trade agency International Enterprise (IE) Singapore on Thursday (Aug 17). However, on a month-on-month seasonally adjusted basis ...
15 hours ago
Singapore non-oil exports growth up 8.5% in July
Chuang Peck Ming - NON-OIL domestic export (NODX) growth rose 8.5 per cent year on year in July, extending the 8.8 per cent growth in June, according to trade promotion agency International Enterprise Singapore.
15 hours ago
Singapore non-oil export growth up 8.5% in July
Chuang Peck Ming - NON-OIL domestic export (NODX) growth rose 8.5 per cent year on year in July, extending the 8.8 per cent growth in June, according to trade promotion agency International Enterprise Singapore.
15 hours ago
The yuan is Hong Kong's new darling as investors chase higher yields
Bloomberg - HONG KONG/BEIJING (Aug 17): The big ball of money in Hong Kong is rolling to the yuan, and the local dollar is suffering. After years of underperforming, the offshore yuan is near its highest level versus the city’s currency in more than 12 months. Yuan deposits in the former British colony have ...
15 hours ago
Chart of the Day: Industrial property prices down 1.6%
Staff Reporter - The sector clocked in its ninth straight quarter of decline. The industrial property market has seen its ninth consecutive quarter of decline in 2Q17, shedding 1.6% QoQ. According to this chart from OrangeTee Research, multiple-user and single-user factory prices fell by 1.5% and 1.3% QoQ, respecti ...
15 hours ago
Keppel and partners pare and sell stake in FLNG for US$658m to Golar LNG Partners
Lee Meixian - KEPPEL Corporation on Thursday said it has signed a sale and purchase agreement together with Golar LNG and Black & Veatch (B&V) to sell an equity interest in Golar Hilli LLC to a subsidiary of Golar LNG Partners for US$658 million, less net lease obligations.
15 hours ago
Keppel and partners sell stake in FLNG for US$658m to Golar LNG Partners
Lee Meixian - KEPPEL Corporation on Thursday said it has signed a sale and purchase agreement together with Golar LNG and Black & Veatch (B&V) to sell an equity interest in Golar Hilli LLC to a subsidiary of Golar LNG Partners for US$658 million, less net lease obligations.
15 hours ago
Daily Briefing: Ezion's shares suspension; What you need to know about sharing economy
Staff Reporter - And here are five things you should rent, not buy. From The Motley Fool Singapore: Shortly after Ezion's second quarter earnings report came bigger news: The company requested for its shares to be suspended from trading. read more
15 hours ago
IPS Securex swings into FY17 net loss of $2.5 mil
PC Lee - SINGAPORE (Aug 17): Security solutions provider IPS Securex swung to net losses of $2.8 million and $2.5 million in 4Q17 and FY17 respectively. The group had reported net profits of $2.1 million and $2.2 million in 4Q16 and FY16 respectively. Group revenue decreased 53.2% to $2.1 million in 4Q from ...
15 hours ago
Oxley Holdings boosts stake in United Engineers to 10.43%
Lee Meixian - OXLEY Holdings on Thursday disclosed that the company had on Wednesday acquired, through open-market purchases, shares of United Engineers (UE), resulting in Oxley holding 10.43 per cent of the total number of issued shares, excluding treasury shares and subsidiary holdings of UE.
15 hours ago
Ascott Residence Trust completes acquisition of Doubletree by Hilton New York – Times Square South
Michelle Zhu - SINGAPORE (Aug 17): The manager of Ascott Residence Trust (ART), Ascott Residence Trust Management, says the REIT’s acquisition of DoubleTree by Hilton New York – Times Square South in New York, US, has been completed. Ascott Residence Trust Management is an indirect wholly-owned subsidiary of C ...
16 hours ago
Loyz Energy returns to profitability in FY17 on one-off gain
PC Lee - SINGAPORE (Aug 17): Loyz Energy, the oil and gas exploration and production company, has swung back into the black in FY17, reporting earnings of US$12.9 million ($17.6 million) for FY17. The improved set of results mainly stemmed from the US$19.4 million gain in other income arising from the succes ...
16 hours ago
Saudi king orders Qatar border be reopened to pilgrims: state media
[RIYADH] Saudi Arabia's King Salman has ordered that the border with Qatar be reopened to allow pilgrims to carry out their annual hajj pilgrimage to Mecca, official state media said on Thursday.
16 hours ago
Sarine announces partnership with South Korean jeweller Golden Dew
Michelle Zhu - SINGAPORE (Aug 17): Sarine Technologies, the developer and manufacturer of precision technology products for the processing and trade of diamonds and gems, says Golden Dew last week formally launched the company’s Sarine Profile in-store diamond display platform in all of its 72 stores across Sou ...
16 hours ago
Casino giants look for clarity in Japan as public debate begins
[TOKYO] The debate over Japan's effort to allow casinos is going public as operators including MGM Resorts International and Caesars Entertainment Corp look for clarity in a potential US$25 billion market.
16 hours ago
Costco owes Tiffany US$19.4 million for fake Tiffany rings: US judge
David Hughes - A federal judge on Monday said Tiffany & Co may recover at least US$19.4 million in damages from Costco Wholesale Corp over the warehouse club chain's illegal sale of counterfeit diamond engagement rings bearing the "Tiffany" name.
16 hours ago
Fed, split by inflation, should forge on with rate hikes: Mester
David Hughes - Cleveland Federal Reserve Bank President Loretta Mester said the recent weakness in U.S. inflation has not convinced her the Fed should delay plans for further interest rate hikes in an economy she feels remains on track for steady growth and rising wages.
16 hours ago
Hatten Land FY17 earnings more than double despite RTO expenses; declares maiden dividend
PC Lee - SINGAPORE (Aug 17): Hatten Land, the Malacca based developer formerly known as VGO Corp, reported 4Q17 earnings surge three-fold to RM59.7 million ($19 million) from RM19.9 million in 4Q16. For the 4Q17 ended June, gross profit rose 85.6% to RM73.0 million — outpacing revenue growth of 24% to RM13 ...
16 hours ago
Oil slides despite steep draw in US crude stocks
[NEW YORK] Oil prices fell more than 1 per cent on Wednesday even though US crude stockpiles declined by the most in a year, as data suggesting domestic production was edging higher stoked worries about the global crude glut.
16 hours ago
Federal Reserve's Williams sees Fed 'half way' on rate-hike path
[NEW YORK] The US central bank is roughly at the mid-point on its current path to normalise interest rates as the economy has shown further improvement even without fiscal stimulus, San Francisco Federal Reserve President John Williams told CNN television. "We're about half way there,&quo ...
16 hours ago
Europe: Miners lift shares on metals prices, euro zone growth
[LONDON] Miners and oil stocks led Europe's major share indexes higher on Wednesday on the back of higher metals prices and improved euro zone GDP figures.