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Business Headlines and Stock Market News by Singapore Financial News Publishers

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1 day ago
Sino-Singapore Guangzhou Knowledge City celebrates dual milestones in China
Michelle Zhu - SINGAPORE (March 24): Sino-Singapore Guangzhou Knowledge City (SSGKC), a joint initiative between the Intellectual Property Office of Singapore (IPOS) and the State Intellectual Property Office of China (SIPO), has passed two project development milestones in Guangzhou. In a Friday release, SSGKC says it yesterday celebrated the two milestones with the groundbreaking of the first neighbourhood centre (NC1) at the Start-Up Area, and, on the same day, held the initiation ceremony of the Ascendas-Singbridge International Launch Pad (ASB ILP) at Ascendas OneHub GKC. Occupying 18,000 sq m and comprising a gross floor area (GFA) of 47,975 sq m, NC1 is the first of five neighbourhood centres which SSGKC intends to construct at its start-up area. Its construction is expected to be completed in end 2018.   Each of the five neighbourhood centres planned for SSGKC will serve approximately 6,000 to 8,000 households or 20,000 to 30,000 residents who live within a 1km radius from each centre. SSGKC says that upon the completion of NC1, which is expected to be operational in 2019, residents will enjoy “easy and convenient access to comprehensive suite of commercial services, one-stop government services, and integrated community services”. Total investment for the centre is estimated to be RMB230 million ($46.8 million). On the other hand, ASB ILP is a platform that is designed to foster innovation, facilitate collaboration and business-to-business exchanges, which SSGKC says marks another key milestone in the its own development in progressing towards becoming a “model and catalyst for Guangdong’s innovation drive and economic transformation”. According to SSGKC, the ASB ILP will start by focusing on attracting companies in the sectors of eServices, eMobility, eHealth and eNergy Management – in addition to seeding a cluster of start-up and growth companies within Ascendas OneHub GKC’s community to “catalyse economic growth and innovative ventures” in Guangzhou. “As the city of Guangzhou continues on its economic transformation, SSGKC, as a vibrant hub that appeals to global talent in the knowledge economy, will serve as a key enabler that facilitates the growth of new and innovative industries. This will continue to put the city on the world map as it drives the wheels of modernisation in China,” comments Nina Yang, Ascendas-Singbridge’s CEO for sustainable urban development. “Guangzhou and Singapore are both strategic gateways along the maritime silk route outlined in China’s ‘One Belt, One Road’ initiative. With SSGKC’s status as the first and only platform to implement the proposed Comprehensive Intellectual Property Rights Reform Pilot programme in China, coupled with Singapore’s drive towards building a global innovation alliance, we believe SSGKC holds great potential for the development of a healthy and vibrant ecosystem that is conducive for both Singapore and Chinese companies to flourish and thrive,” she adds.
1 day ago
Malaysia Feb inflation rate at 4.5% y-o-y, highest in 8 years
[KUALA LUMPUR] Malaysia's consumer price index in February rose to an eight-year high at 4.5 per cent from a year earlier, government data showed on Friday.
1 day ago
Canada trade agency picks Singapore for Asia gateway as TPP flounders
Today - SINGAPORE - Canada's trade finance agency is launching its first global branch in Singapore as the country steps up efforts to boost business ties with Asia following the withdrawal of the United States from the Trans-Pacific Partnership (TPP) trade...
1 day ago
Australia: Teenager pleads guilty to Anzac Day terror plot
[SYDNEY] A teenage boy pleaded guilty on Friday to planning a terrorist attack at an Anzac Day service honouring Australian soldiers in Sydney, the latest in a series of cases involving radicalised youth.
1 day ago
Malaysia's new digital economy adviser Jack Ma could still be Indonesia's adviser
In September, Indonesia's Communication and Information Minister Rudiantara said it was setting up a 'steering committee' to spur e-commerce growth in Indonesia and it had asked Ma to be an adviser.
1 day ago
Samsung Elec signals no holding company move for now
Samsung Electronics Co Ltd said on Friday it will be difficult to adopt a holding company structure at this time, rejecting U.S. activist hedge fund Elliott Management's proposal and ruling out for now a long-anticipated succession move.
1 day ago
Oil edges up as Saudis cut supplies to US, but global glut remains
[SINGAPORE] Oil prices edged up on Friday, supported by a fall in Saudi exports to the United States, but overall markets remained under pressure on the back of a world market awash with fuel.
1 day ago
Public feedback wanted on annual wage guidelines: NWC
The tripartite body wants to hear the public’s views about what could be included in the annual wage recommendations, as well as other wage-related issues, it says. 
1 day ago
China's yuan weakens, but still set to end the week stronger
[HONG KONG] China's yuan weakened against the US dollar on Friday as the global US dollar index rose overnight, but the Chinese currency is set to end stronger for the week.
2 days ago
Samsung Electronics says it did not provide any illegal financial support
Today - SEOUL - Tech giant Samsung Electronics Co Ltd , one of several South Korean companies caught up in a political influence-peddling scandal, said on Friday it did not provide any illegal financial support. Samsung Group [SAGR.UL]...
2 days ago
YouTube\'s bid to grab TV dollars imperiled by advertiser revolt
Today - The decision by a handful of high-profile consumer brands to pull advertising from Google's YouTube over offensive content could threaten the site's long-term strategy of stealing ad dollars from television, analysts and ad industry professionals said...
2 days ago
Asia: Traders on edge ahead of key US healthcare vote
[HONG KONG] Asian investors moved uneasily on Friday as they look to a delayed vote on US healthcare reform whose passage is seen as crucial to the future of Donald Trump's growth-drive agenda.
2 days ago
Asian: Traders on edge ahead of key US healthcare vote
[HONG KONG] Asian investors moved uneasily on Friday as they look to a delayed vote on US healthcare reform whose passage is seen as crucial to the future of Donald Trump's growth-drive agenda.
2 days ago
Seoul: Stocks, won subdued, Samsung group shares weaken
[SEOUL] Most South Korean shares and the won showed subdued movement early on Friday, but Samsung group shares fell, some sharply, after Samsung Electronics Co Ltd said it was difficult to adopt a holding company structure at this time.
2 days ago
Germany's Merkel does not expect more EU departures after Brexit
[BERLIN] Chancellor Angela Merkel does not fear that more countries will leave the European Union, she told a German newspaper as the bloc's leaders prepare to celebrate 60 years of union on Saturday days before Britain files for divorce.
2 days ago
Japan PM Abe denies he or wife made donations to principal of scandal-hit school
[TOKYO] Japanese Prime Minister Shinzo Abe repeated denials on Friday that he or his wife had made donations to the head of a Japanese nationalist school at the heart of a political scandal that is chipping away at Mr Abe's support.
2 days ago
Singapore: Healthway Medical secures S$70m convertible note from PE firm Gateway Partners
Shiwen Yap - Healthway Medical Corporation has secured an S$70m convertible note from PE firm Gateway Partners over two tranches. The post Singapore: Healthway Medical secures S$70m convertible note from PE firm Gateway Partners appeared first on DealStreetAsia.
2 days ago
Samsung apologises to shareholders for involvement in scandals
[SEOUL] Samsung Electronics Co apologised Friday for its involvement in scandals that've led to the ouster of South Korea's president and the recall of its Note 7 smartphones, pledging to improve governance in the face of pressure from investors.
2 days ago
StarHub announces senior management changes
Cai Haoxiang - TELCO and pay-TV provider StarHub said on Friday morning that it is making changes to its senior leadership team.
2 days ago
Global gas market riven by glut gets eager buyer in Thailand
[BANGKOK] Thailand has a message for embattled global LNG sellers: It's going on a shopping spree.
2 days ago
Australia: Shares rise 1%, investors eye US healthcare vote
[BENGALURU] Australian shares posted their biggest intra-day gain in more than three weeks on Friday, led by financials and healthcare stocks and clawing back this week's earlier losses, as investors eyed the possibility of an imminent US healthcare vote.
2 days ago
Samsung Electronics says will further improve transparency to shareholders
Today - SEOUL - Samsung Electronics Co Ltd will take further steps to improve transparency in its decision-making process, Chief Executive Kwon Oh-hyun said on Friday. Kwon said during the annual shareholders' meeting the board of...
2 days ago
London attacker Khalid Masood was a criminal with militant links
[BIRMINGHAM] Before he killed at least four people in Britain's deadliest attack since the 2005 London bombings, Khalid Masood was considered by intelligence officers to be a criminal who posed little serious threat.
2 days ago
Taiwan: Stocks flat after govt unveils stimulus package
[TAIPEI] Taiwan stocks were little changed on Friday as investors remained cautious after the government announced a stimulus package amid uncertainty from trading partners the United States and China, and the central bank left its policy rate steady as expected.
2 days ago
YouTube hate videos snare Ikea ads as Google crisis spreads
[LONDON] Major advertisers across Europe are still appearing alongside extremist YouTube videos days after technology giant Google said it was taking steps to protect its clients from inadvertently supporting hate.
2 days ago
Hong Kong: Stocks extend gains in opening trade
[HONG KONG] Hong Kong stocks built on the previous day's rally Friday as investors await a delayed vote on US healthcare reform, which is seen as a proxy for the success of Donald Trump's pro-growth agenda.
2 days ago
Former Stanchart banker joins CIT manager as CEO
Angela Tan - FORMER Standard Chartered banker Adrian Chui has been appointed the chief executive officer and executive director of Cambridge Industrial Trust Management, the manager of Cambridge Industrial Trust (CIT), effective March 24, 2017.
2 days ago
Samsung Electronics says difficult to adopt holding company structure
[SEOUL] Samsung Electronics Co Ltd said on Friday it will be difficult to adopt a holding company structure at this time, giving investors their first insight into how the South Korean tech giant is approaching a potential restructuring.
2 days ago
Malaysia: Shares open flat on Friday
MALAYSIA share prices open flat on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 0.990 point to 1748.150.
2 days ago
Singapore shares open 0.1% up on Friday
Cai Haoxiang - SINGAPORE stocks opened 0.1 per cent higher on Friday, with the Straits Times Index moving up 1.63 points to 3,128.56 as at 9am.
2 days ago
Oil edges up as Saudis cut supplies to U.S., but global glut remains
Today - SINGAPORE - Oil prices edged up on Friday, supported by a fall in Saudi exports to the United States, but overall markets remained under pressure on the back of a world market awash with fuel. Prices for front-month Brent crude futures...
2 days ago
Twitter explores subscription-based option for first time
Today - SAN FRANCISCO - Twitter Inc is considering whether to build a premium version of its popular Tweetdeck interface aimed at professionals, the company said on Thursday, raising the possibility that it could collect subscription fees from some...
2 days ago
Dollar, stocks edge up as US healthcare vote back on
Today - SYDNEY - The dollar recouped a little lost ground on Friday amid signs a delayed vote on President Donald Trump's healthcare bill would go ahead later in the day, though it remained unclear whether it would pass. Investors regard the vote as...
2 days ago
Toshiba's main banks ask for Westinghouse bankruptcy filing this month
[TOKYO] Toshiba Corp's main lenders are asking Toshiba to submit a bankruptcy filing for its US nuclear unit Westinghouse Electric Co by the end of this month, the Nikkei business daily reported on Friday, without citing sources.
2 days ago
Dollar hangs on for US healthcare vote, Asia shares muted
The dollar was living on borrowed time on Friday after U.S. lawmakers delayed a vote on a healthcare bill seen as crucial to President Donald Trump's policy credibility.
2 days ago
Keppel, UOB, USP, Wee Hur, Healthway Medical
PC Lee - SINGAPORE (March 24): Here are some stocks that could move the market this Friday morning. Keppel Corporation subsidiary Keppel Land on Thursday signed a Memorandum of Understanding (MOU) with Vietnam’s State Capital Investment Corporation (SCIC) to collaborate on investment opportunities in Vietnam. Shares of Keppel Corp closed 4 cents higher at $6.76 on Thursday. See: Keppel Land signs MOU to collaborate on investment opportunities in Vietnam United Overseas Bank will soon be able to expand its branch network throughout Vietnam. The bank on Thursday received preliminary approval from the State Bank of Vietnam to establish a foreign-owned subsidiary bank in the country. Shares of UOB closed 8 cents higher at $21.61. See: UOB gets regulatory nod to set up branches throughout Vietnam USP Group said it will hold an EGM on April 7, for shareholders to vote on the appointment of RSM Chio Lim as the company's auditors. In another filing late last night, USP announced that it is issuing 1,228,011 new shares at 8.6 cents each to Eu-Nic Builders as downpayment for the construction of a project contracted in September last year. USP shares last traded at 14 cents. See: USP Group calls EGM but skips requisitioning members' concerns Wee Hur Construction, a subsidiary of Wee Hur Holdings, has won a $22.8 million redevelopment contract from Singapore water agency, Public Utilities Board (PUB). Shares of Wee Hur closed 1 cent higher at 24 cents. See: Wee Hur wins $22.8 mil WaterHub redevelopment contract from PUB Healthway Medical Corporation announced that it has agreed to a revised convertible notes deal with Singapore private equity firm Gateway Partners, following extensive discussions and amendments to the original proposal. Shares of Healthway Medical Corporation closed at 4 cents before the announcement. See: Healthway Medical Corporation strikes revised convertible deal with Gateway Partners Markets Wall Street declined on Thursday after lawmakers delayed a vote on a healthcare bill seen as President Donald Trump's first policy test. The Dow Jones Industrial Average ended down 0.02% at 20,656.58 points, while the S&P 500 lost 0.11% to 2,345.96. The Nasdaq Composite slipped 0.07% to 5,817.69. The Straits Times Index rebounded 8.74 points to 3,126.93. Turnover was moderate at 2.3 billion units worth $1.04 billion and there were 294 rises versus 163 falls.