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Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

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Apple embarks on EU court battle over €13b tax bill

Claudia Chong - Apple embarks on an epic court battle with the EU on Tuesday, fighting the commission's landmark order that the iPhone-maker reimburse Ireland 13 billion euros (US$14 billion) in back taxes.

Dutch brewer Heineken ties up with SG’s Grab to broaden beverage distribution

Nguyen Thi Bich Ngoc - The service will start in Singapore and Vietnam by the end of this month. The post Dutch brewer Heineken ties up with SG’s Grab to broaden beverage distribution appeared first on DealStreetAsia.

Oil trims gains but Middle East risks keep stocks on back foot

TOKYO: Oil futures shed some of its massive gains on Tuesday (Sep 17) as the United States flagged the possible release of crude reserves, but the threat of military action over the attacks on Saudi oil facilities kept prices elevated and stocks under pressure. While equity market losses have not .. ...

Singapore still sunny on semiconductors despite global chip slump: Heng Swee Keat

Annabeth Leow - THE outlook for the global semiconductor industry remains sunny, Deputy Prime Minister Heng Swee Keat has reiterated, as he opened his second major wafer fabrication facility here in as many months on Tuesday.

Singapore still sunny on semiconductors despite global chip slump: Heng

Annabeth Leow - THE outlook for the global semiconductor industry remains sunny, Deputy Prime Minister Heng Swee Keat has reiterated, as he opened his second major wafer fabrication facility here in as many months on Tuesday.

Singapore still sunny on semiconductors despite global chip slump, Heng insists

Annabeth Leow - THE outlook for the global semiconductor industry remains sunny, Deputy Prime Minister Heng Swee Keat has reiterated, as he opened his second major wafer fabrication facility here in as many months on Tuesday.

Chin Swee Road death: Couple charged with murder of two-year-old daughter

Sembmarine's Brazil shipyard completes FPSO vessel for Petrobas consortium

Fiona Lam - SEMBCORP Marine (Sembmarine) said its wholly owned and operated Brazilian subsidiary, Estaleiro Jurong Aracruz (EJA), has completed its first floating production, storage and offloading (FPSO) project.

Singapore shares open lower on Tuesday; STI down 0.13% to 3,199.72

Ng Ren Jye - SINGAPORE shares edged down on Tuesday after US and Europe trading sessions overnight reacted negatively to weekend attacks on Saudi Arabia's oil facilities. The Straits Times Index lost 4.21 points or 0.13 per cent to 3,199.72 as at 9.03am.

OxyContin maker Purdue Pharma files for bankruptcy protection

OxyContin maker Purdue Pharma LP filed for bankruptcy protection Sunday night, succumbing to pressure from more than 2,600 lawsuits alleging the company helped fuel the deadly U.S. opioid epidemic.

Daily Briefing: Bali-style GCB to tender at $23m; Chemical separation tech firm SEPPURE secures $2.6m seed fund

Staff Reporter - Submitted By: Frances Gagua Case Study: No And here’s how firms could tap into a fast-growing esports and gaming culture. From iCompareLoan: A Bali-resort-styled good class bungalow (GCB) in Kilburn Estate is up for auction at $23m, according to Knight Frank Singapore. read more

Artivision to pay lower amount to acquire MC Payment under amended deal

Fiona Lam - CATALIST-LISTED video solutions provider Artivision Technologies has inked an amended and restated conditional sale and purchase agreement (SPA) for the proposed acquisition of electronic payment and online retail business Mobile Credit Payment (MC Payment).

Chart of the Day: Check out the top selling private home projects in August

Staff Reporter - Submitted By: Frances Gagua Case Study: No Parc Clematis boosted overall sales with 316 units sold. This chart from Colliers International shows the top ten best-selling projects in August 2019, with Parc Clematis making up 28.17% of the 1,122 sales for the month. Also read: Parc Clemat ...

Singapore exports fall 8.9% in August, marking sixth straight month of decline

Stocks to watch: Tiong Seng, Mapletree Industrial Trust, Keppel DC Reit, Wing Tai, Jumbo

Vivienne Tay - THE following companies saw new developments that may affect trading of their shares on Tuesday:

Stocks to watch: Mapletree Industrial Trust, Keppel DC Reit, Wing Tai, Jumbo

Vivienne Tay - THE following companies saw new developments that may affect trading of their shares on Tuesday:

Trump says US reaches trade deals with Japan, no vote needed

President Donald Trump said on Monday the United States has reached an initial trade agreement with Japan.

Mapletree Industrial Trust to raise at least S$350m from private placement

Ng Ren Jye - MAPLETREE Industrial Trust (MIT) looks to raise at least S$350 million through a private placement to partially fund its joint purchase of a North American data centre portfolio worth US$1.37 billion, which the trust said would cost it about S$965 million.

Keppel DC Reit raises S$478.2m via private placement, preferential offering

Rachel Mui - KEPPEL DC Reit has raised S$478.2 million through a private placement of 135 million units at an issue price of S$1.744 per unit, and a preferential offering of about 142 million units at an issue price of S$1.71.

Tiong Seng CEO, project director on bail amid corruption probe

vtay - MAINBOARD-LISTED Tiong Seng Holdings said on Tuesday that its chief executive and executive director Pek Lian Guan and project director Pay Teow Heng are on bail amid a corruption probe.

Singapore Aug non-oil exports down 8.9% y-o-y

PC Lee - SINGAPORE (Sept 17): Singapore’s non-oil domestic exports (NODX) decreased by 8.9% y-o-y for August, following the 11.4% decline in July 2019; both electronic and non-electronic exports declined. NODX to the majority of the top markets, except China, declined. The decline was mainly due to Hong K ...

500 Startups backs $2.55m funding in Singapore’s SEPPURE

Mars W. Mosqueda Jr. - SEPPURE last raised $180,000 in its pre-Seed funding round in December 2018. The post 500 Startups backs $2.55m funding in Singapore’s SEPPURE appeared first on DealStreetAsia.

Singapore non-oil exports down 8.9% in August, better than expected

Janice Heng - SINGAPORE'S non-oil domestic exports (NODX) fell 8.9 per cent year on year in August, performing better than economists' expectations of a 10.6 per cent fall and breaking a five-month streak of double-digit declines, according to Enterprise Singapore figures on Tuesday.

Singapore's non-oil domestic exports down 8.9% in August

Janice Heng - SINGAPORE'S non-oil domestic exports (NODX) fell 8.9 per cent year on year in August, breaking a five-month streak of double-digit declines, according to Enterprise Singapore figures on Tuesday.

Don't expect oil shocks to move the Fed

WASHINGTON: The weekend bombings of Saudi Arabia's main oil refinery have already sparked US President Donald Trump to pressure the Federal Reserve anew to lower rates. The Fed should enact a "big interest rate drop, stimulus," at its meeting this week, which ends Wednesday, Trump said on Twitter . ...

US, Chinese trade deputy talks to start on Thursday: USTR

WASHINGTON: Deputy-level US-China trade talks are scheduled to start in Washington on Thursday, the US Trade Representative's office said on Monday (Sep 16), paving the way for high-level talks in October aimed at resolving a bitter trade war. A USTR spokesman did not offer any further details ...

Oracle, VMware agree to deal on cloud technology, technical support

Rachel Mui - Oracle Corp and VMware Inc on Monday announced a deal designed to resolve years of tension over how Oracle handles technical support for VMware users and make it easier for them to move to Oracle's cloud computing service.

Singapore keeps its spot as one of world's largest foreign exchange centres

Samantha Chiew - SINGAPORE (Sept 17): The Monetary Authority of Singapore (MAS) announced that Singapore’s average daily foreign exchange (FX) trading volume has increased by 22% to reach an all-time high of US$633 billion ($871 billion) from US$517 billion in April 2016. With this, Singapore will keep its positi ...

WeWork parent expected to delay IPO: WSJ

Rachel Mui - WeWork owner The We Company is expected to postpone its initial public offering, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Trump says US reaches trade deal with Japan

Rachel Mui - President Donald Trump said on Monday the United States has reached an initial trade agreement with Japan.

FAA chief to meet with Boeing officials, test 737 MAX simulator

Rachel Mui - New Federal Aviation Administration (FAA) chief Stephen Dickson plans to fly to Seattle this week to fly "newly configured" Boeing 737 MAX software in a simulator and will visit with Boeing officials, the agency said Monday.

Electric vehicles, batteries could draw bulk of GM's US$7 billion pledge

A new family of electric vehicles, an all-electric pickup truck and an advanced battery system could draw much of the US$7 billion that General Motors Co has pledged to invest in the United States as parts of contract talks with the United Auto Workers.

Commentary: Is oil heading back towards US$100 a barrel?

CAIRO: This week was supposed to be centered on monetary policy decisions from the US, UK, Japan and Switzerland central banks, Brexit negotiations and developments in US-China trade talks. However, the weekend’s drone attacks on Saudi Arabia’s critical crude processing plant have now taken the ...

Daily Markets Briefing: STI down 0.24%

Staff Reporter - Submitted By: Clarist Zablan Case Study: No YZJ Shipbuilding saw the sharpest decline amongst top active stocks with a 3.57% decrease. The Straits Times Index ended -7.56 or 0.24% lower at 3,203.93. The top active stocks were DBS, which dipped 0.35%, YZJ Shipbuilding, which dropped 3.57 ...

Mapletree and its Reit to buy US$1.37b of data centres

Claudia Chong - MAPLETREE Investments and Mapletree Industrial Trust (MIT) are set to acquire a North America data centre portfolio worth US$1.37 billion (S$1.9 billion) from data centre provider Digital Realty.

Lendlease Group seeks to list Reit on SGX to raise S$1.03b

Ng Ren Jye - SYDNEY-headquartered Lendlease Group has lodged a prospectus to list a new Reit (real estate investment trust) on the Singapore Exchange (SGX) mainboard.

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