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

South Korea's SK announces $195 billion investment for chips, batteries, bio through 2026

SEOUL : SK Group, South Korea's second-biggest conglomerate after Samsung Group, said on Thursday it will invest 247 trillion won ($195.24 billion) in the semiconductor, battery and biopharmaceutical sectors over the next five years.SK Group, whose affiliates include the world's second-big ...

3 days ago

South Korea's SK announces US$195 billion investment for chips, batteries, bio through 2026

SEOUL: SK Group, South Korea's second-biggest conglomerate after Samsung Group, said on Thursday (May 26) it will invest 247 trillion won (US$195.24 billion) in the semiconductor, battery and biopharmaceutical sectors over the next five years. SK Group, whose affiliates include the world's ...

3 days ago

Stocks to watch: Wing Tai, Valuetronics, HRnetGroup, Boustead Projects, Hwa Hong

Tan Nai Lun - THE following companies saw new developments that may affect trading of their securities on Thursday (May 26):

3 days ago

Wing Tai bags Lakeside Apartments for S$273.9 million, 14% above reserve price

Michelle Zhu - THE wholly-owned subsidiary of Wing Tai Holdings, Winville Investment, has won the tender for the collective purchase of Lakeside Apartments at some S$273.9 million, representing a 14 per cent premium to the S$240 million reserve price.

3 days ago

Wing Tai bags Lakeside Apartments for S$273.9 million, above reserve price

Michelle Zhu - THE wholly-owned subsidiary of Wing Tai Holdings, Winville Investment, has won the tender for the collective purchase of Lakeside Apartments at some S$273.9 million, representing a 14 per cent premium to the S$240 million reserve price.

3 days ago

Wing Tai bags Lakeside Apartments for S$273.9m, above reserve price

Michelle Zhu - THE wholly-owned subsidiary of Wing Tai Holdings, Winville Investment, has won the tender for the collective purchase of Lakeside Apartments at S$273.9 million, representing a 14.1 per cent premium to the S$240 million reserve price.

3 days ago

Wing Tai bags Lakeside Apartments tender at S$273.9m, above reserve price

Michelle Zhu - THE wholly-owned subsidiary of Wing Tai Holdings, Winville Investment, has won the tender for the collective purchase of Lakeside Apartments at S$273.9 million, representing a 14.1 per cent premium to the S$240 million reserve price.

3 days ago

Sony to ramp up PS5 production and broaden games portfolio

TOKYO :Sony Group Corp said it plans to ramp up production of its PlayStation 5 console as supply chain snarls ease and signalled a radical broadening of its games portfolio including more titles on PC and mobile.The PS5, which went on sale in November 2020, undersold its predecessor in its second y ...

3 days ago

Sony says it plans PS5 ramp up as shortages ease

TOKYO :Sony Group Corp's gaming chief said on Thursday that the tech conglomerate plans to ramp up production of its PlayStation 5 console as supply chain snarls ease. "We're playing on a significant ramp up in PS5 production this year, allowing us to close the gap versus PS4," S ...

3 days ago

Valuetronics reports 39% decline in net profit in FY2022 due to component shortage

Valuetronics reported an 11.1% y-o-y decline in revenue to HK$2,027 million and a 39.3% y-o-y decline in net profit to HK$113.5 million in FY2022, for the 12 months to Mar 31, 2022.The poor results were attributed to a global shortage in components. The supply problem for a wide range of electronics ...

3 days ago

Wing Tai to acquire Lakeside Apartments in collective sale

Wing Tai Holdings has successfully tendered for the collective purchase of the leasehold Lakeside Apartments site at 9E & 9F Yuan Ching Road for $273.89 million.Located on the edge of the Jurong Lake Gardens, the site spans 12,465.4 square metres with a plot ratio of 2.1.Wing Tai plans to redeve ...

3 days ago

Global automakers face electric shock in China

BEIJING: If global automakers think they can extend their dominance in China into the electric era, they may be in for a shock. Kings of the combustion age such as General Motors and Volkswagen are falling behind local players in the booming electric vehicle (EV) market in China, a country that' ...

3 days ago

Asia's war on inflation targets supply, not consumers

From export bans to price controls, governments in Asia are taking a much more targeted approach than their Western counterparts in curbing global inflationary pressure, a strategy that appears to be working at least for now.While inflation remains a serious economic challenge in Asia, the measures ...

3 days ago

Singapore-listed US office Reits upbeat on outlook despite resistance in return to office

Jude Chan - IT IS business as usual in the United States, as the world’s largest economy brushes off concerns over the Covid-19 pandemic.

3 days ago

SingLand gets URA provisional nod to redevelop Clifford Centre in Raffles Place

Kalpana Rashiwala - CLIFFORD Centre, an ageing office and retail property in Raffles Place that once housed the Stock Exchange of Singapore, Bank of America and the Robinson’s Downtown Store, is headed for a redevelopment.

3 days ago

'Trend of fragmentation is strong': IMF's Georgieva

DAVOS, Switzerland: International Monetary Fund Managing Director Kristalina Georgieva on Wednesday said she worries less about the risk that the war in Ukraine and a further slowdown in China might trigger

3 days ago

Twitter to pay US$150 million to settle with US over privacy, security violations

WASHINGTON: Twitter has agreed to pay US$150 million to settle allegations it misused private information, like phone numbers, to target advertising after telling users the information would be used for security reasons, according to court documents filed on Wednesday (May 25). Twitter's settle ...

3 days ago

Twitter to pay $150 million to settle with US over privacy, security violations

WASHINGTON :Twitter Inc has settled with U.S. authorities over allegations it misrepresented the "security and privacy" of user data between May 2013 and September 2019, according to court documents filed on Wednesday.Twitter will pay $150 million as part of the settlement, according to th ...

3 days ago

Twitter settles with US government over privacy, security violations: Court documents

WASHINGTON: Twitter has settled with the US Federal Trade Commission over allegations it misrepresented the "security and privacy" of user data between May 2013 and September 2019, according to court documents filed on Wednesday. Twitter will pay US$150 million as part of the settlement, ...

3 days ago

Musk to provide $6.25 billion more in equity to fund Twitter deal

Elon Musk has committed to provide an additional $6.25 billion in equity financing to fund a portion of the $44-billion deal to buy Twitter Inc, a regulatory filing showed on Wednesday.Twitter shares jumped 10 per cent in extended trading.

3 days ago

Musk pledges more equity to fund Twitter deal, scraps margin loan

Elon Musk on Wednesday (May 25) pledged an additional US$6.25 billion in equity financing to fund the US$44 billion offer for Twitter, reducing the billionaire's margin loan against his Tesla Inc shares to zero. The disclosure made in a regulatory filing on Wednesday signaled Musk is working to ...

3 days ago

Musk to provide US$6.25 billion more in equity to fund Twitter deal

Elon Musk said on Wednesday (May 25) he will secure an additional US$6.25 billion in equity financing to fund the $US44-billion offer for Twitter, reducing the billionaire's margin loan to zero and signalling he is working to complete the deal. The world's richest man and Tesla's top ...

3 days ago

Nvidia forecasts second-quarter revenue below estimates, shares drop

:Chip designer Nvidia Corp forecast second-quarter revenue below estimates on Wednesday, bracing for supply chain snags and slowing demand for graphics chips used in gaming devices.Shares of the company fell 8.8 per cent in extended trading, after declining roughly 40 per cent this year amid a sello ...

3 days ago

Nvidia says video gaming market slowing; shares drop 7%

:Chip designer Nvidia Corp forecast its sales of video game chips would decline in the current quarter, and startled some analysts by laying out new supply-chain issues resulting from China's COVID-19 lockdowns.Chief Executive Jensen Huang told Reuters that Nvidia's gaming business revenue ...

3 days ago

Nvidia shares drop on disappointing revenue outlook and China, Russia obstacles

:Chip designer Nvidia Corp forecast second-quarter revenue below Wall Street estimates on Wednesday, bracing for supply chain snags and slowing demand for graphics chips used in gaming devices.Shares of the company fell 8.8 per cent in extended trading, after tanking roughly 40 per cent this year in ...

3 days ago

Russia pushed closer to brink of default after US payment licence expires

WASHINGTON: The United States pushed Russia closer to the brink of a historic debt default on Wednesday (Mar 25) by not extending its license to pay bondholders, as Washington ramps up pressure following Russia'

3 days ago

Brazil's corn exports to China requires GMO deal: Producers association

Brazilian corn exports to China require an agreement about genetic modified grains before effectively beginning, local corn growers association Abramilho said on Wednesday (May 25) as most Brazil's corn production is transgenic. Abramilho's comments come in the wake of China's customs ...

3 days ago

Brazil's corn exports to China requires deal about GMO: Producers association

Brazilian corn exports to China requires a deal about genetic modified grains to effectively begin, Abramilho, an association representing local corn growers, said on Wednesday. Abramilho's comments come in the wake of China's customs authority announcing an agreement with Brazilian author ...

3 days ago

Turkish fast delivery firm Getir to cut 14% of staff -source

ISTANBUL : Turkish fast grocery delivery company Getir plans to cut 14 per cent of its staff globally, a source with the knowledge of the matter told Reuters.Founded in 2015, Istanbul-based Getir operates in around 50 cities across seven European countries, the United States as well as all major cit ...

3 days ago

Uncrewed Boeing Starliner capsule undocks from space station for return to Earth

The uncrewed new Boeing Starliner capsule undocked from the International Space Station on Wednesday to begin a descent back to Earth from its first journey to the outpost, nearing the end of a high-stakes test flight as NASA's next vehicle for carrying humans to orbit. Less than a week after i ...

3 days ago

Bacteria with antibiotic resistant genes discovered in Antarctica, scientists say

SANTIAGO: Bacteria in Antarctica have been discovered with genes that give them natural antibiotic and antimicrobial resistance and have the potential to spread out of the polar regions, according to scientists in Chile. Andres Marcoleta, a researcher from the University of Chile who headed the stud ...

3 days ago

Putin hikes Russian pensions, plays down Ukraine impact on economy

LONDON: President Vladimir Putin ordered 10 per cent rises on Wednesday (May 25) in pensions and the minimum wage to cushion Russians from inflation, but denied the country's economic problems were all linked to the

3 days ago

Maserati launches MC20 Cielo amid focus on quality not quantity

MODENA, Italy: Maserati's turnaround plan aims to liberate the Stellantis luxury brand from being a "slave to volumes" which has weighed on quality, its CEO Davide Grasso said on Wednesday (May 25), unveiling a convertible version of its MC20 sportscar. Maserati, which returned to ope ...

3 days ago

TerraUSD developers vote to create new blockchain without failed stablecoin

Developers behind failed stablecoin TerraUSD have voted to abandon the token in favor of creating a new blockchain and digital asset weeks after the cryptocurrency collapsed, according to a tweet from the Terra blockchain protocol. Unlike most other major stablecoins which are backed by other assets ...

3 days ago

IMF says staff made 'considerable progress' in talks with Pakistan

WASHINGTON: International Monetary Fund staff made considerable progress during meetings with Pakistani authorities in Doha, Qatar from May 18-25 aimed at reaching agreement on policies and reforms, the IMF said in a statement on Wednesday (May 25). IMF mission chief Nathan Porter said the two sides ...

4 days ago

Qualcomm CEO sees growth in high-end phones even if economy slows

DAVOS, Switzerland: Qualcomm CEO Cristiano Amon sees growth for the chip supplier as consumers increasingly want "better phones," he said in an interview on Wednesday (May 25) at the World Economic Forum, even as talk about an economic slowdown dominates the event in the Swiss ski town of ...