Business Headlines & Singapore Stock Market News | SGinvestors.io

Business Headlines & Market News

Business Headlines and Stock Market News by Singapore Financial News Publishers

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Kaseya ransomware attack sets off race to hack service providers -researchers

Michelle Quah - A ransomware attack in July that paralyzed as many as 1,500 organizations by compromising tech-management software from a company called Kaseya has set off a race among criminals looking for similar vulnerabilities, cyber security experts said.

Teaching sexism during NS, allowing more men to receive alimony among suggestions by WP MPs on how to achieve gender equality

US SEC Chair Gensler calls on Congress to help rein in crypto 'Wild West'

Michelle Quah -

PM Lee urges China, US to stem deteriorating ties

Bloomberg - Singapore Prime Minister Lee Hsien Loong again urged US and China to de-escalate tensions, saying both powers presumed incorrectly they would win in any conflict. “The reality is, neither side can put the other one down,” Lee said on Tuesday, Aug 3, speaking by video link to the Aspen Security F ...

Boeing postpones key test flight to space

Annabeth Leow - :Boeing Co on Tuesday postponed the planned launch of its CST-100 Starliner capsule from Florida's Cape Canaveral bound for the International Space Station in what was to have been a crucial do-over test flight following a near-catastrophic failure during its 2019 debut.

84 people under probe after week-long police enforcement at massage and 'KTV-concept' outlets

OUE posts S$30.1m H1 net profit, reversing year-ago loss even as revenue is halved

Sharanya Pillai - PROPERTY developer OUE recorded a S$30.1 million net profit for the six months ended June, reversing the year-ago loss of S$207.2 million. The improvement has been attributed to the absence of the fair-value loss recognised on the US Bank Tower last year.

OUE revenue halved but back into the black for 1HFY21

The Edge Singapore - OUE’s revenue for 1HFY2021 halved to $152 million from the same period last year, from all-across weakness in its hotels and real estate businesses. However, it is able to report earnings of $30.1 million, versus a loss of $207.2 million. This time last year, the company recognized a fair value lo ...

Amazon interfered with union elections, says US labor board

Annabeth Leow - E-commerce giant Amazon.com Inc interfered with union election by installing a mailbox, threatening employees and hiring additional police, according to a report by the National Labor Relations Board's hearing officer.

Mailbox, cameras. How Amazon interfered with Alabama union election -NLRB official

Michelle Quah - E-commerce giant Amazon.com Inc interfered with union election by installing a mailbox, threatening employees and hiring additional police, according to a report by the National Labor Relations Board's hearing officer.

Pan-United H1 net profit jumps to S$7.3m as construction activities resume

Natalie Choy - PAN-UNITED, Singapore's biggest producer of ready-mix concrete, on Tuesday posted a first-half net profit of S$7.3 million - from just S$138,000 in the same period a year ago - as construction activities pick up in Singapore.

TalkMed's H1 revenue hit by travel curbs, but cost cuts hold net profit steady at S$10.8m

Sharanya Pillai - ONCOLOGY specialist TalkMed Group posted a 1.1 per cent rise in net profit to S$10.8 million for the six months ended June, even as its patient numbers were hit by travel restrictions, the Catalist-listed company announced on Tuesday evening.

Explainer: What are the legal powers of Covid-19 safe distancing enforcement officers?

gordon.feeney -

13 Covid-19 cases found in various testing operations across Singapore: MOH

European, US gaming stocks hit as China's Tencent slides

Annabeth Leow - Shares in Europe-listed gaming companies fell on Tuesday and U.S. names were tipped to open lower after a steep selloff in China's social media and video games group Tencent on fears the sector would be next in regulators' crosshairs.

China's Tencent woes hit European and US gaming stocks

Michelle Quah - Shares in Europe-listed gaming companies fell on Tuesday and U.S. names were tipped to open lower after a steep selloff in China's social media and video games group Tencent on fears the sector would be next in regulators' crosshairs.

Crime app Citizen rolls out fee-based tool for US users to contact safety agents

Michelle Quah - U.S. crime alert app Citizen is launching its first paid feature, offering subscribers access to a live safety agent when they are in "stressful or uncertain situations".

StanChart to buy back shares, pay dividend as profit jumps

Bloomberg - Standard Chartered Plc is resuming interim dividends and starting a share buyback after reduced credit losses helped it beat estimates in the second quarter, the latest bank to bolster payouts as the economic outlook improves. The London-headquartered lender made an underlying pretax profit of US$1. ...

Amazon warehouse workers overwhelmingly rejected a union. Now they may vote again

Michelle Quah - A U.S. labor board official has recommended a rerun of a landmark Amazon.com Inc union election in Alabama where employees had voted overwhelmingly against making their warehouse the online retailer's first to organize in the United States.

Bonds take a breather, Tencent tumbles again

Michelle Quah - The government bond market rally that had sent U.S. Treasury yields under 1.2per cent and the entire German curve negative paused on Tuesday, though there were more problems in China as internet giant Tencent took another battering.

Pan United 1HFY2021 earnings jump to $7 million on resumption of construction activities

The Edge Singapore - With the resumption of construction activities in Singapore, cement provider Pan United Corp has reported a 45% y-o-y jump in revenue to $276.6 million for 1HFY2021. However, costs, ranging from wages, raw materials, and so on, increased as well, reaching what the company calls “pre-Covid” level ...

ES Group flags H1 net loss on Covid-led manpower constraints, lower chartering revenue

Natalie Choy - SHIP building and repairing company ES Group is expected to suffer a net loss for the six months ended June 30, 2021 (H1 2021) amid the prolonged global pandemic.

DHL to add electric planes to fleet in pursuit of zero emissions

Bloomberg - The race toward zero-emission logistics chains is expanding from the road to the skies. DHL Express, the air cargo subsidiary of Deutsche Post AG, has ordered 12 all-electric aircraft to complement its fleet of battery-powered delivery vans and bikes, a move that will reduce emissions from air servi ...

Tencent weighs kids games ban after ‘spiritual opium’ rebuke

Bloomberg - Tencent Holdings Ltd. led a stocks rout after Chinese state media decried the “spiritual opium” of games, prompting the company to broach a ban for kids and triggering fears Beijing will set its sights next on the world’s largest gaming arena. China’s most valuable corporation joined rivals ...

StanChart's profit before tax jumps in H1 in post-pandemic recovery; Asia is main driver

Vivien Shiao - STANDARD Chartered Bank (StanChart) saw its profit before tax surge in the first half of 2021, buoyed mostly by its performance in Asia, even as its income continued to slide on the back of falling global interest rates.

Antipodean currencies jump on central bank talk, US dollar subdued

Michelle Quah - The New Zealand and Australian dollar were the biggest gainers among major currencies on Tuesday, helped by talk from their central banks, while the U.S. dollar took a backseat to the yen and Swiss franc amid some risk aversion in markets.

Alibaba misses revenue estimates as e-commerce growth slows

Annabeth Leow - China's Alibaba Group Holding Ltd reported first-quarter revenue on Tuesday that missed analysts' estimates, as its e-commerce business took a hit due to rising competition from smaller players such as JD.Com Inc and Pinduoduo Inc.

Marvell Tech to acquire Innovium for US$1.1 billion as it courts more cloud customers

Michelle Quah -

Prime US REIT sees 5.4% drop in DPU to 3.3 US cents in 1H2021

Amala Balakrishner - The manager of Prime US REIT has reported distribution per unit (DPU) of 3.3 US cents (4.5 cents) in 1HFY21 ended June. This is down 5.4% from the 3.5 US cents disbursed in the previous year and follows higher property expenses. Taking into account the private placement launched on June 24, Prime US ...

Alibaba's quarterly revenue jumps 34%

Claudia Chong - China's Alibaba Group Holding reported a 34 per cent rise in quarterly revenue on Tuesday (Aug 3), helped by growth at its cloud computing and e-commerce businesses. Ant Group, the fintech affiliate of Alibaba Group, recorded a quarterly profit of about 13.48 billion yuan (US$2 billion) for the ...

Alibaba misses revenue estimates as e-commerce growth slows, regulatory crackdown persists

Michelle Quah -

Number of police cameras to double to at least 200,000 by 2030: Shanmugam

LifeBrandz expects to be hit by extended closure of its Thai pub

Sharanya Pillai - FOOD and beverage group LifeBrandz expects a hit to its revenue from the extended closure of its pub in Pattaya in Thailand.

Baffled investors fear nothing is off limits in China regulatory crackdown

Michelle Quah -

Hong Kong regulator fines UBS US$1.5 million for compliance breaches

Michelle Quah - Swiss bank UBS was fined HKUS$11.55 million (US$1.5 million) by Hong Kong's securities regulator for failing to disclose its holdings in some companies covered in its research reports, the watchdog said on Tuesday.

Indonesia begins work on Southeast Asia's largest floating solar plant

Michelle Quah -

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