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

ESG ratings: seeing the value in divergent views

Dhananjay Phadnis - WHEN it comes to choosing a university or buying a car, comparative ratings can help us make better decisions. But what happens when rankings diverge – or worse, contradict one another? Should they be disregarded, or can they still deliver valuable information?

2 days ago

Local firms’ payment performance worsens slightly in Q3: SCCB

Vivienne Tay - THE payment performance of local firms deteriorated slightly in the third quarter of 2022, said the Singapore Commercial Credit Bureau (SCCB) on Tuesday (Oct 4).

2 days ago

Sixt agrees to purchase around 100,000 e-vehicles from China's BYD

BERLIN : Sixt has committed to buying around 100,000 electric vehicles from China's BYD in the coming years under a new partnership agreement signed by the two companies, the German car rental company said on Tuesday.Under the first stage of the agreement, Sixt is to order several thousand all- ...

2 days ago

Russian court fines TikTok $50,000 over refusal to delete LGBT content

A Russian court on Tuesday fined ByteDance-owned TikTok 3 million roubles ($51,000) over the social media platform's refusal to delete content Russian authorities say violate laws against spreading "LGBT propaganda," The TASS news agency reported.($1 = 59 roubles)

2 days ago

Russian court fines TikTok US$50,000 over refusal to delete LGBT content

MOSCOW: A Russian court on Tuesday (Oct 4) fined ByteDance-owned TikTok 3 million roubles (US$51,000) over the social media platform's refusal to delete content Russian authorities say violate laws against spreading "LGBT propaganda." News agencies reported that the case against TikTo ...

2 days ago

New HDB flats more affordable than housing in comparable cities: Desmond Lee

Corinne Kerk WS - IN Singapore, a first-time home-owning couple with a new four-room Housing Development Board (HDB) flat in a non-mature estate would have a median home price to median household income ratio of four times.

2 days ago

Affordability of new HDB flats much better than in comparable cities: Desmond Lee 

Corinne Kerk WS - IN Singapore, a first-time home-owning couple with a new four-room HDB flat in a non-mature estate would have a median home price to median household income ratio of four times. As a broad comparison, the ratio in other comparable cities such as London, Los Angeles and Sydney is much higher – at ...

2 days ago

Affordability of new HDB flats much better than comparable cities: Desmond Lee 

Corinne Kerk WS - IN Singapore, a first-timer homeowner couple buying a new 4-room HDB flat in a non-mature estate would have a median home price to median household income ratio of 4 times. As a broad comparison, the same ratio in other comparable cities such as London, Los Angeles and Sydney is much higher, at 8 t ...

2 days ago

Apple supplier Foxconn 'cautiously optimistic' about Q4 outlook

TAIPEI: Taiwan's Foxconn, the world's largest contract electronics maker, said on Tuesday (Oct 4) it was "cautiously optimistic" about its fourth-quarter revenue outlook after reporting record-breaking September sales. Like other global manufacturers, the Taiwanese company, a maj ...

2 days ago

Apple iPhone exports from India top $1 billion in 5 months - Bloomberg News

:Apple Inc's iPhone exports from India crossed $1 billion in five months since April, Bloomberg News reported on Tuesday, reflecting the tech giant's growing bet on the South Asian nation amid New Delhi's push for local manufacturing.The outbound shipments of India-made iPhones, mainl ...

2 days ago

Exports of India-made iPhones top $1 billion in 5 months - Bloomberg News

Apple Inc's iPhone exports from India crossed $1 billion in the five months since April, Bloomberg News reported on Tuesday, citing people familiar with the matter.The outbound shipments of India-made iPhones, mainly to Europe and the Middle East, are set to reach $2.5 billion in the 12 months ...

2 days ago

Foreign outflows from EM Asian equities exceed 2008 outgo

Foreigners resumed selling in Asian equities ex-China stocks in September as investors were deterred by U.S. interest rate hikes, a firmer greenback and a weaker regional growth outlook.Data from stock exchanges in South Korea, India, Taiwan, the Philippines, Vietnam, Indonesia, and Thailand showed ...

2 days ago

Philippine central bank says ready to manage market disruption as peso slumps

MANILA : The Philippine central bank said on Tuesday it was taking steps to manage any disruption in the financial market, and urged participants not to take advantage of a peso currency hovering at record lows against the dollar. The peso closed at a record 59 to the greenback on Monday, taking its ...

2 days ago

Philippine central bank says taking steps to manage any financial market disruption

MANILA : The Philippine central bank said on Tuesday it was taking steps to manage any disruption in the financial market. It also urged "those who have the means not to take undue advantage of changing market conditions".

2 days ago

Nine in 10 re-employment disputes ‘amicably resolved’ in mediation: MOM

ELYSIA TAN - OF ABOUT 80 re-employment disputes received each year by the Ministry of Manpower (MOM) from 2016 to 2021, about 90 per cent were amicably resolved through mediation, Senior Minister of State for Manpower Koh Poh Koon said in Parliament on Tuesday (Oct 4). This included instances of employees withd ...

2 days ago

90% of re-employment disputes ‘amicably resolved’ in mediation: MOM

ELYSIA TAN - OF ABOUT 80 re-employment disputes received each year by the Ministry of Manpower (MOM) from 2016 to 2021, about 90 per cent were amicably resolved through mediation, Senior Minister of State for Manpower Koh Poh Koon said in Parliament on Tuesday (Oct 4). This included instances of employees withd ...

2 days ago

JPM initiates 'overweight' on TDCX as it is a profitable compounder

Samantha Chiew - JP Morgan is initiating coverage on digital customer experience (CX) solutions company TDCX with an “overweight” rating and a target price of US$13.80, implying a 49% upside from its current share price of US$9.26, as at Oct 3.The target price is derived at an EV/ebitda multiple of 9.5x, which i ...

2 days ago

PlayStation eyes new investment for PC, mobile push

TOKYO: Sony Group's gaming business is looking at fresh investment to bolster its push into PC and mobile, a senior executive said, as the PlayStation 5 maker competes for talent with deep-pocketed rivals and as industry dealmaking heats up. "Further investments in areas that will strength ...

2 days ago

Majority of Singapore CEOs believe that a recession is likely to impact their earnings over the next year: KPMG

Felicia Tan - About 86% of global CEOs indicate that they are anticipating a recession to hit the global economy in the next 12 months, according to the KPMG 2022 CEO Outlook, which asked over 1,300 CEOs about their strategies and outlook.Of the Singapore CEOs polled, about four in five – or 80% – of them are ...

2 days ago

US midterms could lift Democrats – or sink them and boost Trump

LEON HADAR - QUITE a few Democrats are smiling these days. For months, the conventional wisdom in Washington had been that they would be buried electorally by a powerful Republican “red wave” in the coming midterm election. Given historical trends and polling results, most pollsters predicted that against a ...

2 days ago

Brokers’ take: CGS-CIMB lowers target prices for property plays amid cooling measures

Ilyas Salim - CGS-CIMB has lowered target prices for real estate companies PropNex and Apac Realty as it expects near-term market prospects to be dampened by the latest set of <a href="/real-estate/housing-loan-limits-including-for-hdb-loans-tightened-in-fresh-measures-to-cool-property" target=" ...

2 days ago

Brokers’ take: JPMorgan initiates coverage on TDCX with ‘overweight’, US$13.80 target price

Ry-Anne Lim - JPMorgan has initiated coverage on Singapore-headquartered TDCX with an “overweight” rating and a target price of US$13.80. 

2 days ago

MAS to mobilise capital for net zero transition through public and private partnerships

Felicia Tan - The Monetary Authority of Singapore (MAS), with knowledge partners McKinsey & Company and Convergence Blended Finance and supported by the Glasgow Financial Alliance for Net Zero (GFANZ), hosted the inaugural Transition Finance Towards Net Zero (TFNZ) conference on Oct 4.The conference is said t ...

2 days ago

Indonesia may extend palm oil export levy waiver to year-end - minister

JAKARTA : Indonesia may extend a palm oil export levy waiver to the end of the year, chief economic minister Airlangga Hartarto said on Tuesday. Indonesia is currently waiving levies imposed on exports of palm oil products until the end of October.

2 days ago

Indonesia plans extension of palm oil export levy waiver to year-end

JAKARTA: Indonesia, the world's biggest producer of palm oil, may extend an export levy waiver on the edible oil to the end of this year, its chief economic minister said on Tuesday (Oct 4). Indonesia started waiving levies imposed on exports of palm oil products from mid-July to help reduce a ...

2 days ago

As Opec+ meeting looms, expectations heighten over big output cuts

Anita Gabriel - EXPECTATIONS are high that the Organization of the Petroleum Exporting Countries and allies (OPEC+) are set to slash oil output at Wednesday’s (Oct 5) meeting given the oil cartel’s “desire for price support” as evinced from its symbolic cut at last month’s pow wow.

2 days ago

Cryptoverse: Trading names in a mind-boggling crypto craze

A new NFT trading craze where names are bought and sold for eye-popping sums is providing a multi-million-dollar lifeline for speculators shivering in the bleak crypto winter."Domain" names such as coin.crypto (which has sold for $100,000) and beer.eth (which fetched $39,000) are a new bre ...

2 days ago

Container shipping industry starts to come down from pandemic highs

Even the typically busy August to October period – when businesses move goods for the year-end retail season – appears to have weakened.

2 days ago

Kensington Park condo back on the en bloc market at S$1.28b

Vivienne Tay - KENSINGTON Park condominium in Serangoon Gardens has been relaunched for en bloc sale via tender with an unchanged guide price of S$1.28 billion, sole marketing agent CBRE and on Tuesday (Oct 4).

2 days ago

Australia's Telstra hit by data breach, two weeks after attack on Optus

SYDNEY: Australia's largest telecoms firm Telstra said on Tuesday (Oct 4) it had suffered what it called a small data breach, a disclosure that comes two weeks after its main rival Optus was left reeling by a

2 days ago

Marubeni gets $3 billion from Gavilon grain business sale

TOKYO : Japanese trading company Marubeni Corp said on Tuesday it had so far received $3 billion from the sale of U.S. unit Gavilon's grain business to commodities trader Glencore Plc's Viterra arm.Under the deal, which was announced in January and completed on Monday, Marubeni had receive ...

2 days ago

Local banking trio raise fixed home loan rates further to 3.5% or more

Michelle Zhu - SINGAPORE’S local banks have raised the interest rates on their fixed-rate home loan packages to 3.5 per cent and above, weeks after DBS and UOB said they were reviewing their fixed-rate offerings.

2 days ago

Local banking trio raise fixed home loan rates further to 3.5% and up

Michelle Zhu - THE trio of Singapore banks have raised the interest rates on their fixed-rate home loan packages to 3.5 per cent and above, weeks after DBS and UOB said they were reviewing their fixed-rate offerings.

2 days ago

DBS, UOB raise fixed home loan rates further to 3.5% and up

Michelle Zhu - AFTER hiking the interest rates on <a href="/banking-finance/dbs-raises-2-year-fixed-home-loan-rate-to-275-per-annum-highest-among-local-banks" target="_blank">fixed-rate home loan packages in late June</a>, DBS is raising its rates further to 3.5 per cent. This is a ...

2 days ago

DBS raises fixed home loan rates further to 3.5%

Michelle Zhu - AFTER hiking the interest rates on <a href="/banking-finance/dbs-raises-2-year-fixed-home-loan-rate-to-275-per-annum-highest-among-local-banks" target="_blank">fixed-rate home loan packages in late June</a>, DBS is raising its rates further to 3.5 per cent. This is a ...

2 days ago

Indonesia expands subsidised fuel quota amid high demand -regulator

JAKARTA : Indonesia has expanded the quota of subsidised 90-octane gasoline by 6.86 million kilolitres (KL) and the quota of subsidised diesel fuel by 2.73 million KL, downstream regulator BPH Migas said in a statement on Monday.The additional quota would be added to the current volume allocation of ...