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Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

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Singapore exports surge 15.2% in Q1, forecast for year up

SINGAPORE: Non-oil domestic exports in Singapore surged 15.2 per cent in the first quarter of 2017, on the back of increased shipments of both electronic and non-electronic products, according to data released by International Enterprise (IE) Singapore on Thursday (May 25). This follows a 2.7 per .. ...

Singapore shares open 1.5 points up on Thursday

Anita Gabriel - SHARES on the local bourse traded higher on Thursday's opening session with the key Straits Times Index rising 1.53 points to 3,232.77.

Singapore economy in 1Q grew by 2.7% on year; FY growth forecast maintained at 1-3%

PC Lee - SINGAPORE (May 25): The Ministry of Trade and Industry (MTI) announced today that it has maintained the GDP growth forecast for 2017 at “1.0 to 3.0%”, with growth likely to come in higher than 2.0% barring the materialisation of downside risks. The Singapore economy grew by 2.7% on a year-on-yea ...

USP, Valuetronics, Neo, Ocean Sky, Eurosports, Sinwa

PC Lee - SINGAPORE (May 25): Here are some stocks to watch this Thursday morning: All three resolutions were voted down at USP’s adjourned EGM on Wednesday. Resolutions 1 and 2 to remove Li Hua and Raphael Tham Wai Mun as directors respectively were each voted down by 81.6% or 54 million of the 66.2 millio ...

Chart of the Day: Check out the rebound in manufacturing loans

Tim Charlton - It registered a 1% growth in March. Bank lending expanded 5.8% YoY in March, accelerating from a 3.5% advance in the month before. According to UOB KayHian, with this came the rebound in manufacturing cluster, which gained 1% after the 2.1 slump in the month before. Overall loan demand from busines ...

Asian shares hit two-year high after Fed signals gradual tightening

Today - TOKYO - Asian shares scaled two-year highs on Thursday while the dollar and U.S. bond yields slipped after the U.S. Federal Reserve signaled a cautious approach to future rate hikes and the reduction of its $4.5 trillion of bond holdings. ...

Tokyo: Stocks open flat on Thursday

[TOKYO] Tokyo stocks opened flat on Thursday as investors focused on prospects for US interest rates after a widely expected June hike.

Asian shares firm, dollar and US bond yields slip after Fed

Asian shares eked out modest gains on Thursday while the dollar and U.S. bond yields slipped after the U.S. Federal Reserve signalled a cautious approach to future rate hikes and the reduction of its US$4.5 trillion of bond holdings.

Dollar on back foot after Fed minutes, euro resumes advance

The dollar was on the defensive early on Thursday after minutes of the latest Federal Reserve policy meeting were not as hawkish as anticipated, while the euro edged back up towards a 6-1/2-month high.

Japan Inc sees better opportunities beyond China's 'Belt and Road'

Today - TOKYO - A vast majority of Japanese companies have no interest to participate in China's sweeping "Belt and Road" initiative, seeing greater business opportunities in other international economic co-operation, a Reuters poll shows. Only 5...

Dollar on defensive after Fed minutes, euro resumes rise

Today - TOKYO - The dollar was on the defensive on Thursday after the Federal Reserve dialed down on some of the more hawkish policy expectations in the market, while the euro edged back up toward a 6-1/2-month high. Fed policymakers agreed they should...

Update: Singapore NODX expand 15.2% in Q1, full year 2017 growth forecast raised

Angela Tan - SINGAPORE'S non-oil domestic exports (NODX) expanded by 15.2 per cent year-on-year in the first quarter of this year, extending the 2.7 per cent increase in the previous quarter, on increased shipments of both electronic and non-electronic products.

Updated: Singapore NODX expand 15.2% in Q1, full year 2017 growth forecast raised

Angela Tan - SINGAPORE'S non-oil domestic exports (NODX) expanded by 15.2 per cent year-on-year in the first quarter of this year, extending the 2.7 per cent increase in the previous quarter, on increased shipments of both electronic and non-electronic products.

Singapore non-oil domestic exports expand 15.2% in Q1

Angela Tan - SINGAPORE'S non-oil domestic exports (NODX) expanded by 15.2 per cent year-on-year in the first quarter of this year, extending the 2.7 per cent increase in the previous quarter, on increased shipments of both electronic and non-electronic products.

Neo Group posts 46.2% fall in FY17 earnings to $3.3 mil

Michelle Zhu - SINGAPORE (May 25): Neo Group has announced $3.3 million in earnings for FY17, down 46.2% from the previous financial year, on exceptional losses. Accordingly, Neo Group’s earnings per share for FY17 fell to 2.24 cents from 4.18 cents a year ago. This comes despite achieving 29.2% growth in revenu ...

Worker advocacy group report says Tesla's injury rate higher than average

Today - SAN FRANCISCO - A California-based workers advocacy group released a report on Wednesday saying that Tesla Inc data showed its workers have been injured at a rate a third higher than the auto industry average. Worksafe made the...

Neo Group Q4 profit rises 181% to S$2.7m

Anita Gabriel - CATERING outfit Neo Group reported a 181 per cent increase in quarterly net profit to S$2.7 million from a year ago owing to an improved showing in the food manufacturing and food retail segments.

Singapore 2017 GDP growth 'likely higher' than last year's 2%: MTI

Soon Weilun - SINGAPORE'S economic growth this year is likely to be better than last year's 2 per cent, even as the city-state's Ministry of Trade and Industry (MTI) keeps its earlier forecast range of 1 to 3 per cent for 2017.

Libya arrests brother, father of Manchester bombing suspect

[TRIPOLI] Libya has arrested a brother and the father of the man suspected of carrying out the bombing in the British city of Manchester, a relative and security sources said Wednesday.

Update: Growth in Singapore's manufacturing sector moderates to 8% year-on-year in Q1

Chai Hung Yin - MODERATION is seen in Singapore's manufacturing sector in the first quarter, based on the latest data released by the Ministry of Trade and Industry on Thursday.

Growth in Singapore's manufacturing sector moderates to 8% in Q1 versus Q4

Chai Hung Yin - MODERATION is seen in Singapore's manufacturing sector in the first quarter, based on the latest data released by the Ministry of Trade and Industry on Thursday.

Singtel's Optus adds 147,000 subscribers in Q1

Staff Reporter - It seeks to fend off competition from TPG. Telco giant Singtel continues to see growth in its Australian operations as competition heats up. According to RHB, Optus added 147,000 subscribers during the quarter, which is a five year high. "We expect the strong momentum to continue on the back o ...

UOB wins the game of loans against other banking giants

Staff Reporter - Its net interest income grew 2.1% in Q1. UOB outperformed its peers in sequential loan growth for three consecutive quarters, RHB said. According to the brokerage firm, UOB's Q1 net interest income growth of 2.1% QoQ was higher than its two competitors’ average of 1.1%. "This follows ...

Valuetronics posts 28% rise in FY17 earnings; proposes bonus shares on top of special dividends

PC Lee - SINGAPORE (May 25): Valuetronics Holdings reported a 27.9% rise in FY17 earnings to HK$154.1 million ($27.4 million) from a year ago on strong revenue growth. The board is recommending a final dividend of 15 HK cents per share and a special dividend of 5 HK cents per share. These amount to 54.6% of ...

South Korea's 'Rasputin' daughter abandons appeal for extradition

[STOCKHOLM] The daughter of the woman at the centre of a corruption scandal that led to the impeachment of South Korea's ousted president has cancelled her appeal against extradition, a Danish court said on Wednesday.

USP shareholders vote down all 3 resolutions at adjourned EGM

PC Lee - SINGAPORE (May 25): USP board of directors must have heaved a collective sigh of relief after all three resolutions were voted down at its adjourned EGM on Wednesday. Resolution 1 and Resolution 2 to remove Li Hua and Raphael Tham Wai Mun as directors respectively were each voted down by 81.6% or 54 ...

Uninsured rise by 23m under US Republican health bill: forecast

[WASHINGTON] The new Republican health care bill approved by the US House of Representatives will leave 23 million more Americans uninsured by 2026 than under current law, a congressional forecast announced on Wednesday.

Uninsured rise by 23m under Republican health bill: forecast

[WASHINGTON] The new Republican health care bill approved by the US House of Representatives will leave 23 million more Americans uninsured by 2026 than under current law, a congressional forecast announced on Wednesday.

Most Japan firms favor cautious approach to any Toshiba delisting: poll

Today - TOKYO - Most Japanese firms believe the Tokyo bourse should be cautious in its approach to any delisting of embattled Toshiba Corp , concerned about the potential impact on its clients, subcontractors and financial markets, a Reuters poll...

Federal Reserve: New US rate hike likely coming 'soon'

[WASHINGTON] US central bankers say it will "soon" be time to raise the key lending rate again, according to minutes from the last Federal Reserve meeting released Wednesday.

Oil pulls back slightly on low US petrol stock draw

[NEW YORK] Oil prices retreated slightly Wednesday as investors reacted to a smaller-than-expected US petrol stocks draw as they awaited the outcome of discussions in Vienna between Opec and other oil-exporting countries on whether to extend output cuts.

Jakarta suicide bombing kills three police officers

[JAKARTA] A suicide bombing attack outside a busy bus terminal in the Indonesian capital Jakarta on Wednesday killed three police officers, the latest assault to hit the Muslim-majority country as it struggles with a surge of terror plots.

Europe: Banks give stocks stability, autos driven lower by Fiat

[LONDON] European shares, stuck just below 21-month highs for more than a week, struggled to gain momentum on Wednesday, with strength in banks and big oil majors offset by weakness in miners and autos.

General Motors to cut jobs in international HQ in Singapore

DETROIT: General Motors will slash headcount in its international headquarters in Singapore as part of its efforts to reduce exposure to unprofitable and unpromising markets. GM International - which oversees markets such as India, Southeast Asia, and South Korea, among others - will reduce its ...

GM to cut jobs in international HQ in Singapore: source

[SINGAPORE] General Motors Co will slash headcount in its international headquarters in Singapore as part of its efforts to reduce exposure to unprofitable and unpromising markets.

UK police make 7th arrest in Manchester terror probe

[MANCHESTER] British police arrested a seventh person on Wednesday in connection with the massacre at a Manchester pop concert that left 22 people dead.

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