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

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 ...

2 days ago

MAS to seed S$5m blended finance innovation grant amid call to scale up transition funding

Janice Lim - THE MONETARY Authority of Singapore (MAS) is injecting seed capital into a S$5 million Asia Climate Solutions Design Grant to fund innovations in blended finance, managing director Ravi Menon said on Tuesday as he urged a fresh approach to blended finance.

2 days ago

Blended finance needs a fresh approach: MAS chief

Janice Lim - BLENDED finance is not new, but a fresh approach is required to scale the use of public resources to encourage private sector investments in sustainable development.

2 days ago

Vietnam to impose temporary anti-dumping duty on some Chinese furniture

HANOI: Vietnam will this month impose temporary anti-dumping duty on some furniture products originating from China, the Ministry of Industry and Trade said. The tariff of between 21.4 per cent and 35.2 per cent will be in place for four months starting mid-October, the ministry said in a statement ...

2 days ago

Thai export seen up 8% this year: Shippers

BANGKOK: Thailand's exports are expected to rise 8 per cent this year, the top end of previous forecasts range of 6 per cent to 8 per cent, helped by increased demand for food amid global food insecurity, the national shippers' group said on Tuesday (Oct 4). Exports, which rose 11 per cent ...

2 days ago

Itochu ups FY profit forecast on higher coal prices, auto sales

TOKYO : Japanese trading house Itochu Corp raised its annual net profit forecast by 14 per cent on Tuesday, citing higher coal prices, gains from car dealership businesses locally and overseas and an impact from a weaker yen.Net profit for the year to March 31, 2023 is now projected at 800 billion y ...

2 days ago

MUFG Bank names new Apac head of financial sponsor coverage

Vivienne Tay - MUFG Bank has appointed Angus St John as its Asia-Pacific head of financial sponsor coverage – a newly-created role based in Sydney, Australia – which takes effect immediately.

2 days ago

Thai economic recovery intact despite global volatility - central bank chief

BANGKOK : Thailand's economic recovery should remain intact despite global volatility, while efforts to contain inflation will not disrupt the country's growth path, its central bank governor said on Tuesday.The recovery of Southeast Asia's second-largest economy has lagged that of ot ...

2 days ago

Thai central bank says economic recovery likely intact: Chief

BANGKOK: Thailand's economic recovery is likely intact and inflation should ease next year, the central bank chief said on Tuesday (Oct 4). Bank of Thailand Governor Sethaput Suthiwartnarueput was speaking at a business seminar. The BOT has forecast economic growth of 3.3 per cent for this year ...

2 days ago

DBS raises fixed rate home loan offerings to 3.5% after latest revision

The bank now offers four fixed rate packages set at 3.5 per cent per annum, ranging from two to five years.

2 days ago

DBS, UOB raise fixed rate home loans to 3.5% and beyond

DBS raises its fixed rate home loans to 3.5 per cent while UOB ups its fixed rate mortgages to as high as 3.85 per cent per annum.

2 days ago

Singapore stocks open higher on Tuesday; STI up 1.4%

Ilyas Salim - Singapore stocks gained in early trade on Tuesday (Oct 4), after global markets finished on an uptrend.

2 days ago

Britain's tax backdown bounces stocks and sterling

SYDNEY: Asian stocks bounced on Tuesday (Oct 4) after Britain scrapped bits of a controversial tax cut plan, tentatively improving global market sentiment and rallying bonds and the pound. In trade thinned by holidays in China and Hong Kong, MSCI's broadest index of Asia-Pacific shares outside ...

2 days ago

Oil prices inch higher ahead of OPEC+ meeting to discuss supply cuts

SINGAPORE: Oil prices inched higher in early Asian trade on Tuesday (Oct 4), on expectations that OPEC+ may agree to a large cut in crude output when it meets on Wednesday but concerns about the global economy capped gains. Brent crude futures rose 43 cents, or 0.5 per cent, to US$89.29 per barrel b ...

2 days ago

Aussie slides as RBA opts for smaller hike; sterling marks new high

TOKYO : Australia's dollar tumbled on Tuesday after the nation's central bank surprised markets by opting to raise rates by a smaller-than-expected quarter point.The Reserve Bank of Australia said it decided to slow the pace of tightening because the cash rate had been increased substantia ...

2 days ago

Sterling stands tall after UK policy U-turn; Aussie wobbles before RBA

TOKYO : Sterling rose to a fresh post-budget high on Tuesday in Asia, weighing on the broader U.S. dollar index, as the UK currency extended its recovery a day after the British government capitulated on tax cuts.The Aussie dollar retreated from near the top end of its recent range against the green ...

2 days ago

Analysis:Global metals volumes slide on recession fears, volatile markets

LONDON/HANOI : Industrial metal trading volumes have fallen across the world and may slide further as economic threats from higher interest rates to the war in Ukraine send buyers, especially in leading consumer China, to the sidelines.Aggressive interest rate hikes have fuelled real concern about i ...

2 days ago

Stocks to watch: Singtel, Metro, Quantum Healthcare, Shen Yao

Ry-Anne Lim - THE following companies saw new developments that may affect trading of their securities on Tuesday (Oct 4):

2 days ago

S Korea's Yoon says current account to post surplus this year

SEOUL : South Korean President Yoon Suk-yeol said on Tuesday the current account would be in surplus for the whole of this year despite a trade deficit in recent months, blaming the shortfall on raw materials and semiconductor price changes."While declines in semiconductor (export) prices and r ...

2 days ago

South Korea's Yoon says current account to post surplus this year

SEOUL: South Korean President Yoon Suk-yeol said on Tuesday (Oct 4) the current account would be in surplus for the whole of this year despite a trade deficit in recent months, blaming the shortfall on raw materials and semiconductor price changes. "While declines in semiconductor (export) pric ...

2 days ago

S Korea factory activity weakens for third month in Sept - PMI

SEOUL : South Korea's factory activity shrank for a third straight month in September, and by the sharpest pace in more than two years, amid weakening global demand, a private-sector survey showed on Tuesday.The S&P Global purchasing managers' index (PMI) posted a slight fall to a seas ...

2 days ago

Japan's cash in circulation falls for 1st time since 2012 - BOJ

TOKYO : Japan's monetary base, or the amount of cash circulating in the economy, fell 3.3 per cent in September from a year earlier, data showed on Tuesday, marking the first year-on-year decline since April 2012.The data highlights a turning point in Bank of Japan (BOJ) Governor Haruhiko Kurod ...

2 days ago

Space station's Italian commander, with lookalike Barbie, tells girls about science in orbit

The first European female commander on the International Space Station, Italian astronaut Samantha Cristoforetti, answered young girls' questions - accompanied by a lookalike Barbie doll.Cristoforetti recently took time to describe some of the experiments conducted aboard the ISS, as well as an ...

2 days ago

Tokyo Sept core CPI rises 2.8% from a year earlier - govt

TOKYO : Core consumer prices in Tokyo, a leading indicator of nationwide price trends, rose 2.8 per cent in September from a year earlier, government data showed on Tuesday.The core consumer price index for Japan's capital includes oil products but excludes fresh food prices. The September figu ...

2 days ago

Consumer prices in Japan's capital rise at fastest pace since 2014

TOKYO: Core consumer prices in Japan's capital, a leading indicator of nationwide inflation, rose 2.8 per cent in September from a year earlier, exceeding the central bank's 2 per cent target for a fourth straight month and marking the biggest gain since 2014. The data reinforced market ex ...

2 days ago

Samsung Elec to triple advanced chip production by 2027, sees robust demand

SEOUL : Samsung Electronics' chip contract manufacturing business said on Tuesday it plans to more than triple its advanced chips production capacity by 2027 to meet strong demand despite current global economic headwinds.The world's second-largest foundry after Taiwan Semiconductor Manufa ...

2 days ago

S Korea's Naver buys US Poshmark in $1.2 billion deal, invites skepticsm

SEOUL :South Korean e-commerce company Naver Corp announced a $1.2 billion purchase of U.S. fashion resale platform Poshmark Inc but investors questioned the timing of its biggest acquisition amid a slowing economy and sent its shares tumbling.Naver, which is also South Korea's top search engin ...

2 days ago

S Korea's Naver to acquire US fashion social commerce Poshmark for $1.6 billion

SEOUL :South Korean tech firm Naver Corp said on Tuesday it agreed to a $1.6 billion deal to buy Poshmark Inc, a U.S. apparel resale platform firm, as a strategic investment to enter the U.S. e-commerce market. Naver will acquire all of the issued and outstanding shares of Poshmark for $17.90 in cas ...

2 days ago

S Korea's Naver to acquire Poshmark in US for $1.6 billion

SEOUL :South Korean tech firm Naver Corp said on Tuesday it agreed to a $1.6 billion deal to buy Poshmark Inc, a U.S. secondhand fashion platform, as a strategic investment to enter the U.S. e-commerce market. The $1.6 billion includes consideration for Poshmark's cash holdings, and the enterpr ...

2 days ago

US 'broad-based' inflation will take time to come down: Fed official

WASHINGTON: While there are some signs that global and domestic inflation pressures are easing, high prices have spread, making it harder to quell quickly, a top US central banker said on Monday (Oct 3). Continued strong demand for goods and for workers will keep pressure on inflation - which has hi ...

2 days ago

Commentary: September was a brutal time for investors, where are the safe havens for Singapore investors?

Inflation has dominated global headlines this year and equities have tumbled. OCBC Investment Research's Carmen Lee discusses where investors can look to for an escape.

2 days ago

As Malaysia Budget looms, speculation of snap election intensifies

Lee U-Wen - Expectations are heating up for Malaysia’s next general election to be held as early as this November, following an agreement reached last week among the top leadership of Umno, the biggest component of the country’s ruling coalition. 

2 days ago

After epic F1 weekend, Singapore shows the world it is firmly back in business

Lee U-Wen - IT is 11 minutes past 11 pm on a rain-soaked Sunday night, and the Marina Bay skyline is awash with colour and lights as fireworks soar into the air. 

2 days ago

UK financial crisis could turn into a global scare

Rob Curran - IN the global financial system, no crisis stays local for too long. The pound and British bonds are substantial markets in their own rights but, like mortgage-backed securities in the 2008 financial crisis, their sway was not clear until they went into distress.

2 days ago

Going after stock manipulators is great but just as vital is for MAS, SGX to foster a vibrant market

Ben Paul - THE Monetary Authority of Singapore (MAS) announced last month that five former remisiers had been convicted of false trading, and slapped with fines as well as jail time.