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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3 days ago
UOB and HSBC act as green loan coordinators on club loan for Gaw-led consortium
Goola Warden - On Nov 26, United Overseas Bank announced that UOB and HSBC acted as green loan coordinators on club loan facilities of HK$1.85 billion to a Gaw Capital Partners-led consortium. These facilities comprise a US$110 million offshore loan and a RMB837 million onshore loan. Maybank, BNP Paribas and KGI a ...
3 days ago
KKR offer prompts Telecom Italia board showdown over CEO
MILAN :Telecom Italia (TIM) looked set to lose its fourth CEO in six years on Friday after Luigi Gubitosi told the board he was ready to quit the role if that helped speed their decision over KKR's US$12 billion takeover proposal.The board of Italy's biggest telecoms company began a meetin ...
3 days ago
KKR offer prompts Telecom Italia board showdown over CEO's future
MILAN : Telecom Italia faces another boardroom showdown after Luigi Gubitosi told them he was ready to quit as chief executive if that helped speed their decision over KKR's takeover proposal.The board of Telecom Italia (TIM), which meets at 1400 GMT on Friday, will also discuss the impact on e ...
3 days ago
Japan Finance Minister says Mizuho should have 'sense of crisis' over system failure
TOKYO : Japanese Finance Minister Shunichi Suzuki said on Friday Mizuho Financial Group should have a "sense of crisis" over a series of system glitches, and prevent a recurrence.Suzuki also told reporters after a cabinet meeting it was "extremely regrettable" that the banking ar ...
3 days ago
Eneos to sell JX Nippon Exploration and Production to NEO Energy
TOKYO : Japan's Eneos Holdings Inc said on Friday it will sell its British subsidiary JX Nippon Exploration and Production (UK) to NEO Energy Upstream UK. The unit was valued at US$1.655 bln at the end of March, Japan's biggest refiner said in a stock market filing, with a final deal price ...
3 days ago
Eneos to sell UK unit JX Nippon Exploration and Production to NEO Energy
TOKYO : Japan's Eneos Holdings Inc said on Friday it will sell its British subsidiary JX Nippon Exploration and Production (UK) to NEO Energy Upstream UK. The unit was valued at US$1.655 bln at the end of March, the refiner said in a stock market filing. (Reporting by Sam Nussey; Editing by
3 days ago
Cryptocurrencies tumble as coronavirus variant shakes markets
LONDON :Bitcoin tumbled over 9per cent on Friday, dragging smaller tokens down, after the discovery of a new, potentially vaccine-resistant coronavirus variant saw investors dump riskier assets for the perceived safety of bonds, the yen and the dollar.Bitcoin, the largest digital currency, fell as m ...
3 days ago
Bitcoin slumps as coronavirus variant shakes markets
LONDON :Bitcoin tumbled almost 8per cent on Friday after the discovery of a new, potentially vaccine-resistant coronavirus variant saw investors dump riskier assets for the perceived safety of bonds, the yen and the dollar.Bitcoin, the largest digital currency, fell as much as 7.8per cent to US$54,3 ...
3 days ago
Malaysia to investigate Dyson-ATA contract termination, says minister
KUALA LUMPUR : Malaysia will look into the reason for the termination of contract between Dyson and its Malaysian supplier ATA IMS, Human Resources Minister M. Saravanan said on Friday. Dyson cut ties with ATA on Thursday over the Malaysian firm's labour practices. ATA said it was taking seriou ...
3 days ago
China Everbright signs 1.43b yuan deal to expand and upgrade wastewater treatment plant in Qingdao
Kelly Ng - WASTEWATER treatment company China Everbright Water has signed a framework agreement with the water authority bureau in the Chinese port city of Qingdao worth 1.43 billion yuan (S$307 million), in relation to a wastewater treatment plant expansion and upgrading project.
3 days ago
Malaysia to investigate Dyson decision to cut ATA ties
KUALA LUMPUR: Malaysia said on Friday (Nov 26) it will investigate British home appliance maker Dyson's decision to sever ties with ATA IMS over the Malaysian supplier's labour practices. Dyson told Reuters on Thursday that it was ending its contract with ATA after an audit of the company& ...
3 days ago
Singapore stocks slump on Friday on new Covid-19 variant fears; STI falls 1.7%
Jude Chan - THE Straits Times Index (STI) slumped 1.7 per cent or 55.25 points to close at 3,166.27 points as fresh coronavirus fears infected markets across Asia.
3 days ago
Exclusive-Geely unit Lotus Tech aims to raise up to US$500 million in funds - CFO
SHANGHAI : Lotus Technology, a new unit of China's Geely set up to develop the technology to power Lotus sports cars, is planning to raise US$400 million to US$500 million before the end of this year, its chief financial officer told Reuters.Lotus Technology, part of Group Lotus which is in tur ...
3 days ago
China's Meituan lowers outlook for its food delivery business
SHANGHAI :China's Meituan on Friday forecast a weaker outlook for its core food delivery business next year, after a 3.4 billion yuan (US$532.24 million) fine pushed it to report its largest-ever quarterly loss in three years. Tencent-backed Meituan said last month it had been fined by China� ...
3 days ago
China's food delivery giant Meituan posts third-quarter loss
SHANGHAI : Chinese food delivery giant Meituan reported a fourth consecutive quarterly loss on Friday, as it plowed more investment into expanding its various businesses.Tencent-backed Meituan, whose services also include restaurant reviews and bike sharing, reported a 5.53 billion yuan (US$866 mill ...
3 days ago
China central bank gives go-ahead to credit-scoring venture backed by Ant, state firms
BEIJING :China's central bank said on Friday it had accepted the application to set up a personal credit-scoring joint venture backed by Alibaba's fintech affiliate Ant Group and other firms.Qiantang Credit Rating Co Ltd will become the third personal credit scoring firm in China if offici ...
3 days ago
China central bank gives nod to set up credit-scoring JV backed by Ant, state firms
BEIJING :China's central bank said on Friday it had accepted the application to set up a personal credit-scoring joint venture backed by Alibaba's fintech affiliate Ant Group and other firms.The new venture, Qiantang Credit Rating Co Ltd, will become the third personal credit scoring firm ...
3 days ago
China central bank allows set-up of credit scoring venture backed by Ant, state firms
BEIJING : China's central bank said on Friday it had accepted the application to set up a personal credit-scoring joint venture backed by Alibaba's fintech affiliate Ant Group and other firms.The new venture, named as Qiantang Credit Rating, will become the third personal credit scoring fi ...
3 days ago
Many small Thai firms on brink of closure - survey
BANGKOK : Many smaller companies in Thailand could already be out of business as they struggle with falling income, rising costs and a lack of liquidity due to the impacts of the coronavirus pandemic, a university survey showed on Friday.Thailand's roughly 3 million small-and medium-sized busin ...
3 days ago
Tokyo Gas to spend Y2 trln on clean energy to double profit by 2030
TOKYO : Japanese city gas distributor Tokyo Gas Co Ltd said on Friday it will spend 2 trillion yen (US$17.5 billion) on cleaner fuels, such as hydrogen, and renewable power with the aim of doubling its profit to 200 billion yen by 2030."We need to accelerate our actions in the face of a growing ...
3 days ago
Tokyo Gas to spend US$17.5 billion on clean energy to double profit by 2030
TOKYO: Japanese city gas distributor Tokyo Gas said on Friday (Nov 26) it will spend 2 trillion yen (US$17.5 billion) on cleaner fuels, such as hydrogen, and renewable power with the aim of doubling its profit to 200 billion yen by 2030. "We need to accelerate our actions in the face of a growi ...
3 days ago
NetEase's Cloud Village to price Hong Kong IPO shares at HKUS$205 each, sources say
HONG KONG : NetEase Inc's Chinese music streaming business Cloud Village Inc will price it shares around HKUS$205 each, raising almost HKUS$3.28 billion (US$421 million) in its Hong Kong initial public offering (IPO), two sources with direct knowledge of the matter said.The sources could not be ...
3 days ago
France's CGT union calls for Amazon workers to strike on Black Friday
PARIS : One of France's top labour union, CGT, called for Amazon workers in the country to go on strike to coincide with Black Friday discount shopping sales, joining labour protests against the company planned in other European countries.German union Verdi on Wednesday called on employees to s ...
3 days ago
Taiwan sees economy growing this year at best pace in a decade
TAIPEI: Taiwan's economy will grow at its fastest pace in more than a decade in 2021, the statistics office said on Friday (Nov 26), upgrading its outlook on an expected strong performance in exports for the tech heavyweight island. The revision came as the statistics office nudged up its expor ...
3 days ago
BOJ says 43 lenders qualified to tap its climate loan scheme
TOKYO :The Bank of Japan (BOJ) said on Friday 43 financial institutions qualified to receive loans under a new scheme aimed at promoting activities to combat climate change.Japan's three megabanks were among those that qualified for the programme, the BOJ said in a statement.The BOJ said it wou ...
3 days ago
Hong Kong firms scoop up properties from Chinese developers in distress
HONG KONG: After years of expansion in Hong Kong, cash-strapped Chinese developers are reducing their presence in one of the world's most expensive property markets, allowing firms in the financial hub to scoop up some of their assets at distressed prices. Developers including China Evergrande ...
3 days ago
SIA, Garuda ink MOU in 'wide-ranging commercial partnership'
Kelly Ng - SINGAPORE Airlines (SIA) and Garuda Indonesia have signed a memorandum of understanding (MOU) to explore a "wide-ranging commercial partnership" that providers customers additional options and improves their travel experience, the two national flag carriers said on Friday (Nov 26).
3 days ago
Exclusive-India's Tata in talks to set up US$300 million semiconductor assembly unit-sources
NEW DELHI : India's Tata group is in talks with three states to invest up to US$300 million to set up a semiconductor assembly and test unit, two sources familiar with the matter said, as part of the conglomerate's push into high-tech manufacturing.Tata is talking to the southern states of ...
3 days ago
India's Tata in talks to set up US$300 million semiconductor assembly unit: Sources
NEW DELHI: India's Tata group is in talks with three states to invest up to US$300 million to set up a semiconductor assembly and test unit, two sources familiar with the matter said, as part of the conglomerate's push into high-tech manufacturing. Tata is talking to the southern states of ...
3 days ago
ComfortDelGro's Metroline Travel acquires London site for £3.6m
Vivienne Tay - METROLINE Travel, a wholly-owned indirect subsidiary of ComfortDelGro Corporation, on Thursday (Nov 25) acquired a property in Brentford, London, for £3.6 million (S$6.6 million).
3 days ago
Covid-19: 19 more hawker centres to have entry checks in place by Nov 29, ready for dine-in groups of up to 5
bryanng -
3 days ago
Japan approves extra budget for stimulus, debt pile grows
TOKYO: Japan's Cabinet approved its first extra budget for this fiscal year on Friday (Nov 26) with spending worth US$313 billion to cushion the blow from the COVID-19 pandemic, as the country keeps its stimulus taps open even as other economies close theirs. Featuring cash payouts to household ...
3 days ago
Six more countries including Thailand and Maldives added to Singapore's VTL programme
Felicia Tan - Six more countries -- Thailand, Cambodia, Sri Lanka, Maldives, Turkey and Fiji -- have been added to the Vaccinated Travel Lane (VTL) programme. The VTL to Thailand will commence on Dec 14, while the VTLs to the other five countries will begin on Dec 16. Applications will open one week before the st ...
3 days ago
Italy's antitrust fines Google, Apple for commercial use of data
ROME : Italy's antitrust regulator has fined Alphabet's Google and iPhone maker Apple 10 million euros (US$11.23 million) each for "aggressive practices" linked to the commercial use of user data. The authority said in statement that the two tech groups did not provide "clea ...
3 days ago
Nearly 90per cent of Japan regional banks receive payments under BOJ scheme
TOKYO : The Bank of Japan said on Friday it had offered payments to nearly 90per cent of the country's regional lenders under a scheme designed to revitalise the industry by promoting mergers and cost cuts.Under the programme, the BOJ began paying from mid-September 0.1per cent interest on depo ...
3 days ago
Japan's finance ministry takes punitive action vs Mizuho over forex law
TOKYO : Japan's finance ministry on Friday ordered the banking arm of Mizuho Financial Group to take corrective measures over its breach of the country's foreign exchange law and submit prevention measures by Dec. 17.During one of its eight system failures this year, Mizuho failed to compl ...






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