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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1 day ago
'Personal flying machine' maker plans deliveries this year
[WASHINGTON] A Silicon Valley "flying car" startup, Kitty Hawk, reportedly backed by Google co-founder Larry Page, released a video Monday of its airborne prototype and announced plans for deliveries of a "personal flying machine" this year.
1 day ago
Hollande urges French voters to block Le Pen
[PARIS] French President Francois Hollande on Monday urged voters to reject far-right leader Marine Le Pen in next month's presidential runoff against pro-EU candidate Emmanuel Macron.
1 day ago
Frasers Centrepoint Trust reports flat 2Q DPU of 3.04 cents
Michelle Zhu - SINGAPORE (April 25): The manager of Frasers Centrepoint Trust (FCT) has declared a 2Q17 distribution per unit (DPU) of 3.04 cents, unchanged from a year ago. Gross revenue for the quarter declined 2.9% on-year to $45.7 million $47.1 million in the previous year due to lower contributions from Northpoint mall, which is presently undergoing asset enhancement initiative (AEI) works. The absence of contributions from Northpoint was mitigated in part by higher contributions from other properties in the portfolio, namely Causeway Point and Changi City Point. Property expenses for the quarter totalled $13.2 million, representing a decrease of 1.9% compared to the corresponding period last year, mainly attributable to lower utilities tariff rates and other property expenses which were offset in part by higher property tax. As such, net property income (NPI) for 2Q17 declined 3.3% y-o-y to $32.6 million. As at end March, FCT’s gearing stood at 29.4% with a weighted average debt maturity of 2.4 years, while approximately 57% of its borrowings on fixed or hedged-to-fixed interest rates. Net asset value (NAV) was $1.93 per unit. Overall portfolio occupancy as of March 31 declined to 87.2% from 91.3% in the prior quarter, owing mainly to the planned vacancy at Northpoint in conjunction with the ongoing AEI. Portfolio shopper traffic during the quarter also declined 3.5% on-year. The manager of FCT says that AEI works at Northpoint are proceeding on schedule with completion to be expected by Sept this year, while leasing interest for the reconfigured areas remains strong. Despite noting challenges from labour constraints, e-commerce and tepid sales growth which remain in the retail sector, it expects FCT’s “well-located suburban malls” to remain resilient. Highlighting FCT’s consistent performance and solid financial position, Chew Tuan Chiong, CEO of the manager, adds: “We will continue to focus on improving our mall performance and to deliver steady performance for our stakeholders.” Units of FCT closed 4 cents higher at $2.12 on Monday. 
1 day ago
Upward mobility has fallen sharply in US: study
[MIAMI] In a sign of the fading American Dream, 92 per cent of children born in 1940 earned more than their parents, but only half of those born in 1984 can say the same, researchers said Monday.
1 day ago
Obama says ready to train new leaders in first post-presidency speech
[CHICAGO] Former US president Barack Obama returned to the public spotlight Monday, saying he hopes to spend the next phase of his life helping to "prepare the next generation of leadership".
1 day ago
Chart of the Day: Grade A office rents still in a slump, down 9.6% in Q1
Staff Reporter - Submitted By:  Gerv Tacadena Case Study:  No Rents start at $8.95 psf. The office market has yet to recover from the burden of falling rents, as CBRE data for Q1 showed. CBRE said Grade A CBD Core office rents were down 9.6% YoY to $8.95 psf. Meanwhile, Grade B CDB Core and Grade B Islandwide rents were down 8.8% to $7.52 psf and 8.7% to $6.85 psf. However, CBRE said whilst this concern lingers, there are some indicators that suggest the office market is close to finding a support level. read more
1 day ago
Labor shortage a stress test for Japan's 24/7 convenience stores
Today - TOKYO - Japan's growing labor shortage threatens the nation's ubiquitous convenience stores, whose business model relies on an army of part-timers packing bento lunch boxes, manning cash registers and delivering goods 24/7. The big three...
1 day ago
Canada: Ontario to pay guaranteed incomes to the poor
[MONTREAL] Ontario has launched a pilot programme to provide a guaranteed basic income to a few thousand people to test its effects on recipients and public finances, the Canadian province announced Monday.
1 day ago
Ready for take-off? China's answer to Boeing now just needs to sell
Today - SHANGHAI/PARIS - When China unveiled an historic order for its first large commercial jetliner at a national air show in 2010, Western journalists were kept away, and only local media were allowed to witness a major turning point in China's aviation...
1 day ago
With execs in hot seat, Wells Fargo gets OK for bankruptcy plan
[WASHINGTON] Retail banking giant Wells Fargo has fixed problems in its 2015 bankruptcy plan and will now be allowed to open new international branches, US banking regulators said Monday.
1 day ago
US Senate confirms Perdue as Trump's agriculture secretary
[WASHINGTON] The US Senate on Monday easily confirmed Sonny Perdue, the son of a farmer, as the next secretary of agriculture, filling one of the few remaining vacancies in President Donald Trump's cabinet after a long delay.
1 day ago
Venezuela death toll rises as unrest enters fourth week
[CARACAS] At least one person was killed in political unrest in Venezuela on Monday as anti-government protests entered a fourth week with mass "sit-ins" to press demands for early elections.
1 day ago
Fed's Kashkari: infrastructure spending not key to US growth, education is
[SAN FRANCISCO] Minneapolis Federal Reserve Bank President Neel Kashkari said Monday he does not believe that spending more to build roads and airports would necessarily result in faster US economic growth.
1 day ago
Fresenius snaps up Akorn, Merck KGaA's biosimilars in separate deals
Today - FRANKFURT - German healthcare conglomerate Fresenius SE & Co KGaA revved up the pace of its deals by acquiring U.S. generic drugmaker Akorn Inc for $4.75 billion (4.37 billion euros), and in a separate agreement, the...
1 day ago
Oil slips on Opec cut extension doubts, Russia output worries
[NEW YORK] Oil prices slipped nearly one per cent on Monday, extending last week's decline, on lack of confirmation that Opec will extend output cuts until the end of 2017 and as Russia indicated it can lift output if the deal on curbs lapses.
1 day ago
Euro surges, yen dives as French election fears abate
[NEW YORK] The euro surged against the US dollar and the yen sank on Monday on relief over Emmanuel Macron's victory against anti-euro nationalist Marine Le Pen in the first round of France's presidential elections.
1 day ago
Europe: Shares rally as Italian, French banks soar after Macron win
[MILAN] European shares rallied, banks soared, and French blue-chips briefly hit a nine-year high on Monday after France's presidential election sparked a rush to risky assets.
1 day ago
US: French election results catapult Wall Street higher; Nasdaq sets record
[NEW YORK] US stocks rallied on Monday, tracking a relief rally that swept through Asian and European markets, after centrist candidate and market favorite Emmanuel Macron won the first round of the French presidential election.
1 day ago
Iswaran in Indonesia for 3-day visit
Lee U-Wen - INDUSTRY minister S Iswaran is now in Indonesia for a three-day visit that will first take him to the capital Jakarta, and then to Medan in the province of North Sumatra.
1 day ago
Mixed expectations of price pressures
Singapore's headline inflation was at 0.7 per cent year-on-year in March, and core inflation at 1.2 per cent. Both were unchanged from February's readings.
1 day ago
A*Star to set up two model plants as test beds for new tech and innovation (Amended)
Amit Roy Choudhury - AS A part of efforts to prepare the Singaporean workforce for advanced manufacturing technologies, in 2016 the Agency for Science, Technology and Research (A*Star) worked on more than 1,700 projects with the industry, of which at least half were related to manufacturing. It also deployed over 200 licences to companies, 60 per cent of which were in the manufacturing sector.
1 day ago
Building with Mass Engineered Timber
The Nanyang Technological University's sports hall is one of four developments in Singapore that have adopted an innovative timber construction method. The use of mass engineered timber or MET reflects the ongoing transformation of Singapore's built environment sector towards advanced and productive construction technologies with a greater focus on sustainable practices.
1 day ago
Has TPG overstretched itself with Singapore, Australia play?
Amit Roy Choudhury - WITH the dust settling on the Singapore telecommunication sector's general spectrum auction earlier this month, the general market consensus is that the new kid on the block, Australian TPG Telecom, got a very favourable deal in terms of spectrum pricing.
1 day ago
Will Reits continue to return 10% a year?
Cai Haoxiang - NO question about it: real estate investment trusts (Reits) are performing astonishingly well on the Singapore Exchange (SGX).
1 day ago
Rise of populism reshapes global risks
KINGSLEY CHIEDU MOGHALU - FOR decades, political risk has been synonymous with developing countries and emerging markets in Africa, Asia and Latin America. The rise of populism in the Western world redefines the notion of political risk and teaches that risk has no permanent address.
1 day ago
Trump agenda is just voodoo with extra bad maths
Paul Krugman - ACCORDING to many reports, US President Donald Trump is getting frantic as his administration nears the 100-day mark. It's an arbitrary line in the sand, but one he himself touted in many pre-inauguration boasts. And it will be an occasion for numerous articles detailing how little of substance he has actually accomplished.
1 day ago
Centrism triumphs in France, but EU politicians have cause for concern
THE multi-cornered first round of the French general election which was held over the weekend was widely billed as one of the most unpredictable in the country's history. In the event, it produced a result that was in some ways a surprise, and in other ways reassuring.
1 day ago
Macron likely to win face-off with Le Pen for French presidency
Andrew Hammond - FAR right National Front leader Marine Le Pen and independent, centrist Emmanuel Macron won through the first round French presidential election on Sunday after a remarkable contest.  The result is the first time in the country's modern history that neither of the parties of mainstream centre-right, Republicans, or centre-left, Socialists, that have governed since the World War II, have qualified for the second round of a presidential election.
1 day ago
Enhancing capabilities and keeping spirits up despite choppy waters
Mike Meade - FEW in the industry would argue that the maritime and offshore sector is experiencing one of its most challenging periods yet.
1 day ago
EU for Brexit in 2019 will be nothing like the EU today
David Mason - THE United Kingdom goes to the polls on June 8 to elect a new government, to see it through the negotiations for Brexit and beyond. Ostensibly, the reason for the election is to give this mandate and strengthen the negotiating position with the European Union (EU).
1 day ago
A*Star to set up two model plants as test beds for new tech and innovation
Amit Roy Choudhury - AS A part of efforts to prepare the Singaporean workforce for advanced manufacturing technologies, in 2016 the Agency for Science, Technology and Research (A*Star) worked on more than 1,700 projects with the industry, of which at least half were related to manufacturing. It also deployed over 200 licences to companies, 60 per cent of which were in the manufacturing sector.
1 day ago
European markets rally on likely result of French polls
Neil Behrmann - THE euro, French and other European stock markets rallied sharply on expectations that Emmanuel Macron would defeat Marine Le Pen and become the next President of France.
1 day ago
Govt-industry team to tackle terror financing, money laundering
Siow Li Sen - THE government is teaming up with industry to fight money laundering and terrorism financing (ML/TF).
1 day ago
Malaysia, Abu Dhabi settle 1MDB-related row
Anita Gabriel - MALAYSIA and Abu Dhabi have settled - with conditions - a closely-watched and long-drawn dispute between their state-backed entities over claims totalling a whopping US$6.5 billion involving 1Malaysia Development Berhad.
1 day ago
European leaders choose sides in French run-off
WITH the future of Europe in French hands, the continent's leaders have cast aside their tradition of staying out of each other's elections and weighed in with some unsolicited advice: Pick the candidate who wants to make the European Union (EU) stronger, not the one who wants to blow it up.
1 day ago
Delays dog 'shovel ready' projects in Trump's infrastructure plan
US President Donald Trump reassured manufacturers gathered in the White House Roosevelt room on March 31 that a massive infrastructure programme was coming soon.