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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2 days ago
Oxley to purchase Vista Park condominiums for $418 mil
Michelle Zhu - SINGAPORE (Dec 15): Oxley Holdings says the collective sale tender of Vista Park has been awarded to subsidiary, Oxley Spinel, at a price of $418 million. See also: Oxley acquires Chevron House for $660 mil from Deka See also: Oxley clinches stake in Vietnam residential project through $16.2 mil acq ...
2 days ago
Why the world should be grateful for Donald Trump: commentary
[NEW YORK] Donald Trump's first year in office seems to have been marked, above all, by his verbal incontinence. America's tweeter-in-chief kept several continents rapt with his early-morning offerings. In his lack of inhibition and tact, Mr Trump is the opposite of Barack Obama.
2 days ago
TMC Education receives 6.75 cent cash offer from Koh Wee Meng, CEO of Fragrance
PC Lee - SINGAPORE (Dec 15): TMC Education Corp has received a 6.75-cent cash offer from property tycoon Koh Wee Meng. Koh, who is also chief executive of Fragrance Group, is making the offer through his investment holding company JK Global Assets. The offer price is 69% higher than TMC's Wednesday closing p ...
2 days ago
Fur flies in Hollywood as Disney goes Fox hunting
[LOS ANGELES] The Walt Disney Co acquisition of a large chunk of 21st Century Fox is expected to reshape the filmmaking landscape, uniting two of the "big six" Hollywood studios under one umbrella for the first time.
2 days ago
Gold dips, off one-week high after strong US data
[NEW YORK] Gold dipped slightly on Thursday, easing off a one-week high as the dollar rebounded following strong US retail sales data, while palladium rose to its highest since February 2001.
2 days ago
Oil prices up slightly on pipeline outage support
[NEW YORK] Oil prices rose almost 1 per cent on Thursday after a pipeline outage in Britain continued to support prices despite data expecting a global crude surplus in the beginning of next year.
2 days ago
Singaporeans can expect wages to rise 2.4% in 2018
Staff Reporter - Submitted By:  Danielle Isaac Case Study:  No But the expected rate is one of the lowest in Asia and is smaller than last year's 2.7%. Singaporeans are expecting to see higher real wage increases of 2.4% in 2018, Willis Towers Watson revealed. According to its salary budget planning r ...
2 days ago
Businesses' revenue declined 2.6% in the last three years
Staff Reporter - Submitted By:  Danielle Isaac Case Study:  No They struggled to convert revenue to cash. Over the last three years, businesses in Singapore saw an average 2.6% YoY decline in revenue, PwC Singapore and SPRING Singapore revealed. According to their Singapore Working Capital Study 2017 repo ...
2 days ago
Three in four Singaporeans unaware of hidden costs in money transfers
Staff Reporter - Submitted By:  Danielle Isaac Case Study:  No On average, banks charge $1,000 for exchange rate markup for an overseas transfer. Three in four Singaporeans believe banks make it easy to understand the true cost of overseas money transfers, but 88% underestimate how much fees are charged f ...
2 days ago
Japan, UK eye post-Brexit mutual recognition of trade standards
[LONDON] Japan and Britain said they hoped to achieve a swift deal on mutual recognition of each other's standards for goods and services when Britain leaves the European Union.
2 days ago
Europe: Shares lag Wall Street, ECB provides no momentum
[LONDON] European shares lagged their US peers and closed in negative territory on Thursday, as a busy day of central bank meetings failed to provide momentum even though the European Central Bank raised its growth and inflation forecasts.
2 days ago
US House Speaker Ryan eyeing exit from Congress: report
[WASHINGTON] Paul Ryan may be in his final term as speaker of the US House of Representatives and could leave Congress by year end, Politico reported on Thursday, in a report that could set off a scramble for a successor.
2 days ago
US: Stocks decline on reports of tax cut opposition
[NEW YORK] Wall Street stocks retreated on Thursday as reports of congressional opposition to the tax cut plan and worries about lofty equity valuations ended the Dow's run of records.
2 days ago
Disney to buy 21st Century Fox assets for US$52.4b in historic Hollywood merger
Chai Wai Fook - NEW YORK: Walt Disney Co. agreed on Thursday (Dec 14) to buy key film and television assets of 21st Century Fox, in a US$52.4 billion deal that bolsters the media-entertainment powerhouse's challenge to Netflix and emerging rivals in the streaming wars. The blockbuster stock transaction also ...
2 days ago
Euro steadies at 1-week high as ECB stands pat
"The ECB took some quite big steps a few weeks ago and nothing new was expected today," said Thu Lan Nguyen, an analyst at Commerzbank in Frankfurt.
2 days ago
ComfortDelGro-Uber tie-up suggests more consolidation
Jacquelyn Cheok - LAST week, taxi giant ComfortDelGro confirmed its highly-speculated alliance with San Francisco ridehailing startup Uber. This is a bold, once-unimaginable development between a transport incumbent and disruptor - which only points to further consolidation in the sector and more benefits for consum ...
2 days ago
Insurance key in the growth of an on-demand economy
Paul Mang - The customer is king may be an age-old business mantra, but it has never been truer than it is today. Over the past three years, the On-Demand Economy (ODE) has disrupted established businesses as more and more consumers use internet and mobile technologies to gain instant access to goods, services ...
2 days ago
Challenges ahead after Democrats' surprise win in Alabama
Leon Hadar - WHETHER the Republican or the Democratic candidate triumphed in the special Senate election in Alabama this week did not really matter since under either scenario, the Republicans would have lost and the Democrats would have won.
2 days ago
Climate change and sustainability disclosure is important
Michael Tang - COMPANIES are currently facing disruption from technological innovation but there is another disruptive force which is all around you: climate change.
2 days ago
Bitcoin investors should be cautious, even if it is heading mainstream
OVER the past two decades, there have been attempts to create encrypted alternative currencies. None has captivated investors as much as Bitcoin, which was first "mined" in 2009.
2 days ago
Transforming industries through innovation
VINCENT CHONG - THE world is transforming as we speak. The exponential advancement in technology - some disruptive, some breakthrough - has often led to an improved quality of living for citizens and greater sustainability for cities.
2 days ago
Facing the challenges of ethics and trust in an AI-driven world
Joseph Alfred - IN recent years, a new challenge has come into play in the battle against corruption and unethical behaviour - and that's the rise of artificial intelligence (AI). The recent news that the Monetary Authority of Singapore (MAS) is consulting with the financial industry on potential ethical pitf ...
2 days ago
Property agents roped in to fight money laundering, terror funding
Lee Meixian - THE Council for Estate Agencies (CEA) has set out checklists to better guide real estate agencies and salespersons in carrying out their know-your-customer procedures to guard against cases of money laundering and financing of terrorism in big-ticket property transactions.
2 days ago
Co-working space startup WeWork calls Funan home
Wong Kai Yi - THE manager of CapitaLand Mall Trust, CapitaLand Mall Trust Management Limited, announced that it has secured its first office tenant in Funan. Co-working startup WeWork is leasing 40,000 square foot (sq ft) of space in the integrated development.
2 days ago
17,000 BTO flats to be launched in 2018, keeping supply steady
AROUND 17,000 Build-to-Order (BTO) flats will be launched in 2018, maintaining a level of flat supply similar to this year's, National Development Minister Lawrence Wong announced in a blog post on Thursday morning.
2 days ago
Tax overhaul could be big win for US real estate investors
US commercial real estate is a likely winner in the evolving Republican tax overhaul, which is poised to lower rates for property owners, spur new investment and increase demand for rental housing, according to a new report.
2 days ago
Oxley buys Chevron House, Vista Park, stake in Vietnam project in deals totalling over S$1b
Wong Kai Yi - OXLEY Holdings, headed by Ching Chiat Kwong, continues its property buying spree. In a span of less than 24 hours from late Wednesday to Thursday evening, it announced three acquisitions totalling over S$1 billion.
2 days ago
FCL, FCOT buy UK business park for £174.6m
Lee Meixian - FRASERS Centrepoint Limited (FCL) and the manager of Frasers Commercial Trust (FCOT) on Thursday said their subsidiaries have entered into a share purchase agreement to acquire on a 50-50 basis Farnborough Business Park (FBP) in the United Kingdom for £174.6 million (S$314.8 million).
2 days ago
ESR-Reit acquires property in Ang Mo Kio
Anita Gabriel - ESR-Reit (Real Estate Investment Trust) has acquired an 80 per cent interest in a special purpose vehicle that owns a leasehold interest in a property situated within the Serangoon North Industrial Estate in Singapore for S$240 million, marking its largest acquisition to date.
2 days ago
CEReit's stabilising manager behind a third of volume since IPO
Rachel Mui - THE stabilising manager for Cromwell European Reit (CEReit) has bought 27.89 million units from the open market since the trust's Nov 30 initial public offering (IPO), accounting for one third of the counter's trading volume since listing and helping to support its market price.
2 days ago
China's new home sales in Nov rebound
CHINA'S new home sales rebounded in November, climbing the most in five months.
2 days ago
OUE H-Reit obtains S$980m facilities to partially refinance debt
Rachel Mui - THE real estate investment trust (Reit) portion of the stapled OUE Hospitality Trust (OUE H-Trust) has obtained S$980 million of loan facilities to partially refinance its existing debt.
2 days ago
UK housing market stagnates as London price drop continues
THE UK housing market is stuck in a rut.
2 days ago
Housing slump gathers pace in Sweden with buyers losing faith
SWEDEN'S housing slump deepened last month as the market struggles to absorb a supply glut and households lose confidence.
2 days ago
United Engineers offers to buy up rest of WBL
Michelle Quah - UNITED Engineers (UE) has made a pre-conditional voluntary unconditional cash offer for all the shares of WBL Corporation (WBL) it does not already own; the move follows Yanlord Land Group and Perennial Real Estate's acquisition of a one-third stake in UE earlier this year.
2 days ago
US dollar suffers fresh losses as Fed fails to inspire
THE dollar suffered fresh losses on Thursday as Asian investors followed their New York counterparts in shifting out of the unit, unmoved by another interest rate hike and an upbeat assessment of the world's top economy.