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.