1 day ago
Singapore narrows 2019 GDP forecast, as Q1 logs 1.2% growth
amanda.eber -
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
1 day ago
Pre-seed investor Hustle Fund raising $50m for second VC vehicle
Mars Woo - Hustle Fund II comes eight months after the pre-seed VC firm closed its first fund at $11.5 million The post Pre-seed investor Hustle Fund raising $50m for second VC vehicle appeared first on DealStreetAsia.
1 day ago
Olam prices US$120m of notes in private placement
Vivienne Tay - OLAM International on Tuesday said its wholly-owned subsidiary Olam Americas Inc (OAI) has successfully priced a US$120 million issuance of five-year fixed rate notes via a private placement.
1 day ago
Singapore's Q1 exports fall 6.4%
Godfrey Robert - SINGAPORE: Singapore’s non-oil domestic exports (NODX) fell by 6.4 per cent in the first quarter of this year as both electronic and non-electronic exports declined. According to latest figures by trade agency Enterprise Singapore on Tuesday (May 21), this follows the 1.1 per cent decrease in the ...
1 day ago
2019 growth forecast for Singapore non-oil exports cut to -2 to 0%; fell 6.4% in Q1
Chuang Peck Ming - SINGAPORE'S key non-oil domestic exports (NODX) extended their quarterly decline in the first three months of the year, posting a 6.4 per cent drop year on year, according to trade promotion agency Enterprise Singapore on Tuesday.
1 day ago
MTI downgrades Singapore’s 2019 economic growth forecast to 1.5-2.5 per cent on weak outlook
Vivien Shiao - IN a clear signal that Singapore's economic growth is likely to be muted for the rest of 2019, the Ministry of Trade and Industry (MTI) narrowed its forecast range downwards to 1.5 to 2.5 per cent on Tuesday morning, from an earlier 1.5 to 3.5 per cent.
1 day ago
MTI downgrades Singapore’s 2019 economic growth forecast to 1.5-2.5% on weak outlook
Vivien Shiao - In a clear signal that Singapore's economic growth is likely to be muted for the rest of 2019, the Ministry of Trade and Industry (MTI) narrowed its forecast range downwards to 1.5 to 2.5 per cent on Monday morning, from an earlier 1.5 to 3.5 per cent.
1 day ago
UK watchdog says currency and crypto scams hit 27 million pounds
Rob Curran - Scams in Britain involving currencies and crypto assets like bitcoin totalled 27 million pounds (US$34.38 million) in the last financial year, with average losses of 14,600 pounds per victim, the Financial Conduct Authority (FCA) said on Tuesday.
1 day ago
US business debt a 'moderate' economic risk: US Fed's Powell
WASHINGTON: The American private sector's mounting debts pose a "moderate" risk to the world's largest economy, Federal Reserve Chairman Jerome Powell said on Monday (May 20). With corporate debts reaching historic highs relative to the size of the economy, public comment has run the gamut ...
1 day ago
Nike, Adidas, call tariffs 'catastrophic' in open letter to Trump
Bloomberg - NEW YORK (May 21): Nike Inc., Adidas AG and other footwear giants urged President Donald Trump to reconsider his tariffs on shoes made in China, saying the policy would be “catastrophic for our consumers, our companies and the American economy as a whole.” In all, 173 companies signed an open l ...
1 day ago
Commentary: The oil and gas market in Asia is heating up
Not only are Asia-Pacific markets the destination for most of global LNG trade, they also host some of the world’s leading LNG exporters, says the University of Technology Sydney's Xunpeng Shi.
1 day ago
TODAY's morning brief for Tuesday, May 21
youjin.low -
1 day ago
Huawei ban a salvo in widening US-China standoff
Rob Curran - WASHINGTON: In effectively banning tech giant Huawei, President Donald Trump has fired a new salvo against China as the United States increasingly sees confrontation as the best way to curb the rising power. The Trump administration has waged an intense global campaign against Huawei and last week . ...
1 day ago
US eases some restrictions on China's Huawei to keep mobile networks operating
Rob Curran - The U.S. government on Monday eased some restrictions imposed last week on China's Huawei, a sign of how the prohibitions on the telecommunications company may have far-reaching and unintended consequences.
1 day ago
US tech firms to take hit from Huawei sanctions
WASHINGTON: The tough sanctions imposed on Huawei by President Donald Trump could deal a blow to the many US firms that make up the Chinese tech giant's supply chain. American firms last year sold an estimated US$11 billion worth of components to Huawei, which was put on a blacklist last week by ...
1 day ago
Uber and Lyft: Lessons from lacklustre IPOs
Sagar Chaudhary - UBER raised US$8.1 billion with a valuation of US$82.4 billion when it went public recently. Within a matter of days, however, the stock had plummeted to US$37.10 (at the time of writing), losing over 17 per cent of its value. Uber joins a club of tech stocks that have managed to impress their mill ...
1 day ago
SGX firms report insipid Q1 earnings; nearly one in three posts losses
Lee Meixian - CORPORATE earnings for the first quarter were hit, to some extent, by provisions and trade war impact.
1 day ago
New Lippo Karawaci CEO to improve management, governance
Lee Meixian - NEWLY appointed CEO of Lippo Karawaci John Riady has, in a sense, been brought in to "clean house", after news last year of an investigation into an alleged bribery linked to the conglomerate's US$21 billion Meikarta development project, which the company has continued to deny involvement in.
1 day ago
Ex-YuuZoo staff file claims for unpaid salaries
Angela Tan - SEVERAL former employees of YuuZooNow! Pte Ltd in Singapore have made claims against the company for unpaid salaries.
1 day ago
Search for yield sparks surge in emerging market bonds
Neil Behrmann - GLOBAL investors have swept risk fears aside and have poured money into emerging market bonds.
1 day ago
Lippo Karawaci CEO wants LMIRT to own more non-Lippo assets
Lee Meixian - LIPPO Karawaci CEO John Riady wants what's best for the two real estate investment trusts (Reits) that his company sponsors, even if it means more third-party acquisitions and consolidation with other Reits.
1 day ago
Reits to continue providing high returns: Panel
Tara Anne Sreenivasan - WHILE real estate investment trusts (Reits) are still good investment vehicles, investors should be wary of the assets and acquisitions made by Reit managers, said a group of panellists at a symposium last Saturday.
1 day ago
Clean floating is out, dirty is in for emerging markets
Andrés Velasco - Say one thing and then do something else. That pretty much sums up current orthodoxy in emerging economies regarding exchange-rate management. Countries are supposed to use the interest rate to achieve an inflation target and let the exchange rate float freely. In practice, Asian and Latin American ...
1 day ago
Money FM symposium to discuss challenges to jobs
Jessie Lim - MONEY FM 89.3 will be organising a symposium on June 1, to discuss the pressing issues faced by the manpower sector in Singapore.
1 day ago
Did China break the world economic order?
YUKON HUANG - THE US-China trade war is now full-on - except that it's not really about trade. China does account for the largest share of America's trade deficit. But many experts don't seem to think that bilateral trade deficits are a problem in themselves - they're just a symptom of other issues (if even that ...
1 day ago
Singaporeans must learn to work alongside robots
Malina Platon - AS a leading digital hub, Singapore has embraced faster than most the idea that automation increases efficiency, results in fewer mistakes and a more optimised workforce, and helps the country achieve its Smart Nation goals. Despite this, there is still some resistance among those whose jobs could ...
1 day ago
Brexit Party rises as Tory and Labour lose ground
Andrew Hammond - NIGEL Farage's Brexit Party is on course, according to polls, to win Thursday's European Parliament elections in the United Kingdom. This would be only the second time in over a century that an organisation other than the Conservatives or Labour have won a nationwide UK ballot, piling the pressure ...
1 day ago
Indonesian unicorn teams up with Singapore logistics startup
Claudia Chong - INDONESIAN unicorn Bukalapak is partnering Singapore startup Janio for cross-border logistics as it prepares to go global. The e-commerce player is also in talks with Singapore's Economic Development Board to potentially open an office in the country, co-founder Fajrin Rasyid told The Business Time ...
1 day ago
TODAY's morning brief for Wednesday, May 22
youjin.low -
1 day ago
Mexico unveils policy to withhold Uber drivers' taxes
Lynette Tan - Mexico's Finance Ministry on Monday laid out plans to withhold tax from drivers for ride-hailing and food delivery firms such as Uber Technologies Inc and Rappi, part of a push to improve tax collection in Latin America's 2nd largest economy.
1 day ago
US DHS warns of data threat from Chinese-made drones
WASHINGTON: The U.S. Department of Homeland Security has warned U.S. firms of the risks to company data from Chinese-made drones, according to a notice reviewed by Reuters on Monday. The notice, titled "Chinese Manufactured Unmanned Aircraft Systems," warned that U.S. officials have "strong ...
1 day ago
Daimler plans to cut administration costs by 20per cent: Handelsblatt
Lynette Tan - Incoming Daimler boss Ola Kaellenius is working on a cost cut program to reach profit margin targets which are threatened by global trade woes and ramp up issues at factories, Handelsblatt reported, citing company sources.
1 day ago
UK firms likely to scrap planned investment on a no-deal Brexit: BoE's Broadbent
Lynette Tan - LONDON: British companies are likely to cancel projects that they have put on hold because of Brexit uncertainty if the country leaves the European Union without a deal to smooth the shock, Bank of England Deputy Governor Ben Broadbent said on Monday. Business investment fell throughout 2018 as ...
1 day ago
Tesla stock and bonds tumble as investors fret about costs and safety
Lynette Tan - Tesla's stock and bonds tumbled on Monday as investors worried about the automaker's cash burn and problems with an Autopilot system that CEO Elon Musk has held out as key to the electric car maker's future.
1 day ago
GM says most new vehicles to get over-the-air upgrade tech by 2023
General Motors Co said on Monday most of its global models will be capable of over-the-air software upgrades by 2023, as the automaker rolls out new vehicle electrical systems designed to securely handle heavy data traffic and software downloads from the internet.
1 day ago
Teens made up most of e-cigarette maker Juul's Twitter following: study
Lynette Tan - Almost half of the people who followed Juul Labs Inc on Twitter last year were not old enough to legally purchase e-cigarettes in the United States, according to a study published on Monday.