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

Britain launches second probe into Google's ad practices

Britain's competition regulator on Thursday (May 26) launched its second probe into the advertising practices of Google, saying the Alphabet-owned search giant could be distorting competition and may have illegally favoured its own services. The Competition and Markets Authority's (CMA) l ...

3 days ago

China's gold imports via Hong Kong at 14-month low as lockdowns bite

:China's net gold imports via Hong Kong dropped about 59 per cent to their lowest level in 14 months in April from March, as demand in the world's top gold consumer was sapped by a slowing economy and widespread lockdowns.Net imports stood at 5.231 tonnes in April, compared with 12.716 ton ...

3 days ago

China's net gold imports via Hong Kong more than halve in April vs March

China's net gold imports via Hong Kong fell about 59 per cent in April from the previous month, Hong Kong Census and Statistics Department data showed on Thursday.Net imports stood at 5.231 tonnes in April, compared with 12.716 tonnes in March, the data showed. Total gold imports via Hong Kong ...

3 days ago

Azalea’s Astrea 7 PE bonds overall 3 times subscribed at over US$2b

Tan Nai Lun - The latest batch of Astrea private equity (PE) bonds, launched by Temasek-backed Azalea Asset Management, was overall 3 times subscribed.

3 days ago

Singapore joins global platform to help decarbonise emissions-intensive sectors

DAVOS, Switzerland: Singapore will be contributing to a global platform in developing and scaling up low-carbon technologies in emissions-intensive sectors like steel, cement and chemicals. It has joined the First Movers Coalition, a public-private partnership first announced by US President Joe Bid ...

3 days ago

Asia-focused Prudential taps Singapore team for broader ESG push

As a multinational insurance company, Prudential enjoys an abundance of resources and talent.The insurance giant is listed on both the London Stock Exchange and the Hong Kong Stock Exchange (HKEX), along with secondary listings on the New York Stock Exchange and the Singapore Exchange (SGX).Here, th ...

3 days ago

Brokers’ take: DBS says US office S-Reits offer attractive yields, prefers KORE for stronger sub-markets

Helene Tian - THE yield spread of US office Singapore-listed real estate investment trusts (Reits) remains attractive despite near-term unit price overhang from macroeconomic uncertainty, DBS Group Research said on Thursday (May 26).

3 days ago

SPDR STI ETF turns 20, eyes flight to safety among investors

Compared to the West, Singaporean retail investors may thumb their noses at ETFs, thinking themselves smarter than the market. In a way, the wild heart of these punters is understandable. If an ETF that tracks the Straits Times Index (STI) is purported to perform well over time, why not buy the cons ...

3 days ago

OIO aims to be ‘bastion of light’ in a complex crypto world

The cryptocurrency world was rocked by the sudden collapse of two of the biggest digital coins TerraUSD (also known as UST) and Luna in early May. Volatility is not uncommon in the cryptocurren­cy market, but what is unique was that UST was a so-called “stablecoin” — which means that one toke ...

3 days ago

Hundreds stranded after ransomware attack on Indian airline

NEW DELHI: Hundreds of Indian air travellers were stranded inside their planes after the low-cost airline SpiceJet cancelled or delayed flights due to an "attempted ransomware attack", the company has said. Many angry passengers, some of whom were left waiting inside their planes for up to ...

3 days ago

Baidu beats revenue estimates helped by AI, cloud services

China's search engine giant Baidu Inc on Thursday posted a net loss of 885 million yuan ($131 million) for the quarter ended March 31, amid an economic downturn and pandemic resurgence in China. A year earlier it had posted a profit of 25.65 billion yuan, or 73.76 yuan per ADS. Revenue rose 1 p ...

3 days ago

Baidu exceeds revenue estimates on AI, cloud services strength

:Baidu Inc surpassed quarterly revenue estimates on Thursday as a resurgence of COVID-19 in China and accompanying restrictions drove up demand for its cloud and artificial intelligence products.The company - Google's equivalent in China - has expanded aggressively into cloud services, robotaxi ...

3 days ago

CGS-CIMB maintains buy on GVT, but trims target price

CGS-CIMB analyst William Tng has maintained his “buy” call on Grand Venture Technology after the release of its 1QFY2022 ended March business update on May 6, but has cut the target price from $1.60 to $1.29Grand Venture’s 1QFY2022 posted a net profit after tax (npat) of $3.6 million, 8.9% hig ...

3 days ago

The differences between primary and secondary listings

As Nio moves into Singapore for its second secondary listing, The Edge Singapore explores the difference between a primary listing and secondary listing, as well as Singapore’s secondary listing market.According to local bourse Singapore Exchange (SGX), the regulatory approach for primary and seco ...

3 days ago

China air passenger traffic falls 84.6% in April y/y -regulator

BEIJING : China's aviation regulator said on Thursday that air passenger traffic in April plunged 84.6 per cent from a year earlier to 7.88 million trips, and was only 14.8 per cent of the pre-COVID level in 2019.The Civil Aviation Administration of China provided the figures at a news conferen ...

3 days ago

Nio hedges against possible US delisting

Chinese electric vehicle (EV) maker Nio has joined a growing list of overseas companies with a secondary listing on the Singapore Exchange.Founded in 2014, Nio is a Chinese multinational automobile company that manufactures premium battery EVs, with some of its models among the top-selling by sales ...

3 days ago

Apple to keep iPhone production flat in 2022 - Bloomberg News

Apple Inc plans to keep iPhone production for 2022 roughly flat at about 220 million units, Bloomberg News on Thursday, as China's COVID-19 curbs, global supply chain issues, and cooling demand continue to hurt smartphone makers.An outbreak of COVID-19 in China has kept its financial hub Shangh ...

3 days ago

Waiting for oversold Chinese tech stocks to rebound

Semiconductor Manufacturing International Corp (SMIC) will be added to two ESG-focused indices in Hong Kong, despite being a sanctioned entity in the US, Bloomberg reports. SMIC will join the HSI ESG Enhanced Index and the HSI ESG Enhanced Select Index on June 13. Its shares rose as much as 1.3% on ...

3 days ago

Vietnam Jan-May FDI up 7.8% y/y to $7.71 billion -planning ministry

HANOI : Vietnam received $7.71 billion in foreign direct investment (FDI) in the first five months of 2022, up 7.8 per cent from a year earlier, the Ministry of Planning and Investment said on Thursday.FDI pledges — which indicate the size of future FDI disbursements — fell 16.4 per cent in the ...

3 days ago

Get ready for reverse currency wars

Jeffrey Frankel - CAMBRIDGE – The US dollar is up 12 per cent against the euro over the past year and, at €0.93, is approaching parity. If prices of oil and other commodities now seem high in dollar terms, they look even higher in euros. With the greenback surging, and inflation in many countries currently at ...

3 days ago

Analysts cheer Civmec as it captures higher capex and contracts

Australia-based engineering and construction company Civmec’s overall prospects are brightening, as seen from its growing order book that has crossed over A$1 billion, including A$120 million worth announced on May 25.On May 11, Civmec, which is dual-listed in Australia, reported 3QFY2022 ended Ma ...

3 days ago

Two and half cheers for Biden’s Asia forays

LEON HADAR - IT’S safe to say that President Joe Biden entered office with as much experience in foreign policy as three famous White House occupants who were recognised for their expertise in world affairs: Dwight Eisenhower (the supreme commander of Allied forces in Western Europe during World War II who le ...

3 days ago

Hot stock: Singtel up as much as 4.5% on rumoured Bharti Airtel stake sale

Michelle Zhu - SHARES of Singtel made steady gains on Thursday (May 26) after the Economic Times reported it initiated talks with Bharti Airtel chairman Sunil Mittal, to potentially sell a “small” part of its holding in the Indian telco to the Mittal family.

3 days ago

Marketmind: The R word

A look at the day ahead in markets from Sujata RaoMinutes from the Fed's last meeting indicated the U.S. central bank is not yet contemplating bigger, 75 basis-point rate rises. That, alongside softer economic dataprints, is inducing money markets to keep dialling back their view of where the F ...

3 days ago

Analysts warn of slower growth, Maybank's 2022 GDP forecast below MTI's band

Singapore faces slower growth ahead, as the Ministry of Trade and Industry (MTI) warned that 2022 GDP growth will come in at the lower half of the 3%-5% forecast range.Warning of “emerging downside risk”, DBS Group Research senior economist Irvin Seah places the full-year growth figure at 3.5%.� ...

3 days ago

Kuroda says BOJ can achieve smooth exit from easy policy

TOKYO : Bank of Japan Governor Haruhiko Kuroda said on Thursday the central bank can execute a smooth exit from its ultra-loose monetary policy, when the time is right to do so."The BOJ can combine various means and ensure markets remain stable in executing a smooth exit from easy policy. I mus ...

3 days ago

Kuroda says BOJ can achieve smooth exit from loose money policy

TOKYO: Bank of Japan (BOJ) Governor Haruhiko Kuroda said on Thursday (May 26) the central bank can execute a smooth exit from its ultra-loose monetary policy, though doing so "won't be easy". Kuroda repeated his view that the central bank must maintain ultra-easy monetary policy for n ...

3 days ago

Japan's Toshiba brings in M&A adviser and activists in board overhaul

TOKYO : Toshiba Corp nominated an executive from M&A advisory firm Houlihan Lokey as chairperson and activist shareholders as outside directors on Thursday, in a board overhaul that could intensify pressure to take the conglomerate private.Toshiba nominated Akihiro Watanabe, the founder of M& ...

3 days ago

Toshiba nominates Houlihan exec as chair, invites Elliott, Farallon execs to board

TOKYO : Toshiba Corp on Thursday nominated executives from two of its major hedge fund shareholders for board seats, potentially a turning point in a long battle between the Japanese conglomerate and its activist shareholders.Toshiba also nominated Akihiro Watanabe, an executive at M&A advisory ...

3 days ago

Philippine central bank signals another rate hike in June meeting

MANILA : The Philippine central bank is inclined to have another 25 basis point (bps) rate adjustment in its policy meeting next month, Governor Benjamin Diokno said on Thursday.The central bank last week started unwinding its easy money policy, lifting the overnight reverse repurchase facility rate ...

3 days ago

HSBC weighs IPO of Indonesia business - Bloomberg News

HSBC Holdings PLC is considering an initial public offering of its Indonesian business, as the bank aims to target the growing investment demand in the country, Bloomberg news reported on Thursday, citing people familiar with the matter. The London-based bank is yet to file a formal IPO application ...

3 days ago

Singapore's manufacturing output expands 6.2% in April on semiconductor, aerospace demand

SINGAPORE: Singapore’s manufacturing output expanded 6.2 per cent year-on-year in April, higher than the revised 5.1 per cent increase in March, backed by strong demand for semiconductors

3 days ago

China property market slumps on developers' debt crisis, weak buyer sentiment

HONG KONG: China's property market, a key pillar of the world's second-largest economy, has weakened sharply in the past year as a result of a government clampdown on excessive borrowings by developers, and a COVID-19-induced economic slowdown. So far this year, more than 100 cities have t ...

3 days ago

Japan PM urges BOJ to strive to achieve 2% inflation goal

TOKYO : Japanese Prime Minister Fumio Kishida urged on Thursday for the Bank of Japan to work toward achieving its 2 per cent inflation target "sustainably and stably"."I hope the BOJ will exert efforts based on the 2013 joint statement with the government," Kishida told the lowe ...

3 days ago

Markets are under pressure, and here's how tomorrow may bring us higher

Pressure pushin’ down on me Pressin’ down on you, no man ask for Under pressure that burns a building down Splits a family in two, puts people on streetsI received complaints after last week’s moody Pink Floyd-inspired Dark Side of the Moon title morphed into a saccharine-sweet earworm courtes ...

3 days ago

Global LNG markets brace for unknowns ahead of winter

DAEGU, South Korea : Global liquefied natural gas (LNG) buyers and sellers are bracing for more uncertainty over Russian supplies and a murky demand outlook from Europe and top importer China in the run-up to peak winter season, industry executives said.Western sanctions on Russia due to the Ukraine ...