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

CITIC Capital bidding for 22% McDonald's China stake: Chief

Claudia Chong - Chinese private equity firm CITIC Capital is actively bidding for a 22 per cent stake in McDonald's Corp's mainland China and Hong Kong businesses, its chairman and chief executive told Reuters on Thursday.

3 days ago

Finnish state investor raps Nokia for poor communication on profit dive

The head of Finland's state investment firm Solidium criticised Nokia for poor communication on Thursday and said he had sent management some "feisty feedback" after its sudden profit warning in October.

3 days ago

Oil skids as specter of China virus looms over fuel demand, economy

Oil prices fell to their lowest in seven weeks on Thursday, sliding more than 1per cent on concern that the spread of a respiratory virus from China may lower fuel demand if it stunts economic growth in an echo of the SARS epidemic nearly 20 years ago.

3 days ago

Singapore Exchange buys index provider Scientific Beta for $206m

Anshuman Daga - The deal comes at a time when exchange operators are focusing more on data products to increase revenue. The post Singapore Exchange buys index provider Scientific Beta for $206m appeared first on DealStreetAsia.

3 days ago

Singapore shares fall 0.6% as Wuhan virus fears rattle investors

Navin Sregantan - THE STI  was mired in the red, closing at 3,234.56 on Thursday, after giving up 19.37 points or 0.6 per cent.

3 days ago

CITIC Capital bidding for 22per cent McDonald's China stake: chief

Claudia Chong - Chinese private equity firm CITIC Capital is actively bidding for a 22per cent stake in McDonald's Corp's mainland China and Hong Kong businesses, its chairman and chief executive told Reuters on Thursday.

3 days ago

German smartphone bank N26 counts 5 million customers - CEO

BERLIN: German smartphone bank N26 now has 5 million customers, the founder of Berlin's leading fintech startup said, representing an increase from the 3.5 million users it reported last summer. N26, last valued by investors at US$3.5 billion, is growing fastest in its main European markets while .. ...

3 days ago

Keppel Corp posts 25.5% drop in FY19 earnings to $707 mil on absence of one-off gains, proposes 20% lower final dividend of 12 cents per share

Stanislaus Jude Chan - SINGAPORE (Jan 23): Keppel Corporation saw its earnings jump 41.5% to $191.4 million for 4QFY2019 ended December 2019, from $135.3 million a year ago. However, this was not enough for the conglomerate to report a drop in its full year results. FY2019 earnings fell 25.5% to $707.0 million, from $948 ...

3 days ago

Rape suspect who spread faeces in court gets more time for defence; prosecutors cite ‘overwhelming’ evidence of guilt

gordon.feeney -

3 days ago

StarHub, M1 to jointly bid for 5G licence in Singapore

Claudia Chong - IN A move widely expected by industry analysts, telcos StarHub and M1 on Thursday said they have signed an exclusive agreement to submit a joint bid for one of the four 5G network licences up for grabs in Singapore.

3 days ago

France uses Davos to pursue global 'digital tax' goal

Nisha Ramchandani - DAVOS, Switzerland: French Finance Minister Bruno Le Maire is optimistic of reaching a deal on a global tax on digital companies, despite an initial failure to agree one with the United States. "We are moving in the right direction," Le Maire told Reuters TV at the World Economic Forum in the ...

3 days ago

Virus fears keep stocks red; ECB gets ready to rethink

Ng Ren Jye - World shares fell on Thursday, led by the biggest decline in Chinese stocks in more than eight months, as concern mounted about the spread of a deadly virus in China.

3 days ago

StarHub and M1 to make joint 5G bid as expected

The Edge Singapore - SINGAPORE (Jan 23): As expected, StarHub and M1 will be making a joint bid for a 5G licence. “The parties are working towards the 17 February 2020 closing date for 5G proposals,” the two telcos state in a terse two-sentence joint statement on Jan 23. On Jan 11, the government pushed back the bi ...

3 days ago

SGX invests 186m euros for 93% stake in index firm Scientific Beta

Angela Tan - SINGAPORE Exchange (SGX) is coughing up 186 million euros (S$280 million) in cash for a 93 per cent stake in Scientific Beta Pte Ltd, a smart beta index firm.

3 days ago

BP appoints new finance chief as Looney prepares to take over

Ng Ren Jye - BP's finance chief Brian Gilvary is to step down in June after eight years in the role and will be replaced by a close ally of Bernard Looney who takes over as chief executive next month.

3 days ago

Inflation rate hits 0.6% in 2019

Staff Reporter - Submitted By:  Danielle Isaac Case Study:  No This is the fifth year the headline rate has failed to go over 1%. Singapore’s headline inflation rose 0.6% YoY for the whole of 2019, marginally higher than 2018’s level of 0.4% YoY. This is the fifth consecutive year that the hea ...

3 days ago

Asian markets hammered as China steps up Wuhan virus response

HONG KONG: Investor nerves over the spread of a deadly new virus from China hammered Asian equities and oil benchmarks on Thursday (Jan 23), as authorities moved to contain the disease. More than 570 people have been infected with the coronavirus across China and Wuhan, the city at the centre of ...

3 days ago

Japan prosecutors hit back at Ghosn's '8 hours of questions' claim

Fiona Lam - Japanese prosecutors hit back Thursday at claims made by fugitive former Nissan boss Carlos Ghosn that he was interrogated for "up to eight hours per day" during questioning over financial misconduct allegations.

3 days ago

Chinese listed companies ramp up virus efforts after president's call

SHANGHAI: A number of Chinese listed companies: ranging from biotech firms, drugmakers, mask producers and thermometer manufacturers announced efforts in response to a national call to fight the outbreak of the Wuhan coronavirus. The new, flu-like virus, first discovered in the central Chinese ...

3 days ago

Boeing's new CEO orders rethink on key jetliner project

Boeing Co's new chief executive has sent the aerospace giant back to the drawing board on proposals for a new mid-market aircraft, effectively shelving in their current form plans worth US$15 billion-US$20 billion that had been overtaken by the 737 MAX crisis.

3 days ago

Siemens CEO Kaeser asks Trump for equal treatment in Mideast

Siemens Chief Executive Joe Kaeser said he was seeing a more positive mood among the German engineering company's clients at the start of the year, he told CNBC on Thursday.

3 days ago

Clean out the old China gloom

Daryl Guppy - (Jan 23): It’s not just a Chinese New Year coming up this week, it’s also a new decade. Along with a fresh haircut and sweeping old rubbish out the back door, it’s a suitable time to clean-up some decade long failures that have haunted discussions about China’s growth and economy. Here’s ...

3 days ago

Britain to United States: We want a trade deal and a digital tax

Britain wants a trade deal with the United States but will impose a digital service tax on the revenue of companies such as Google, Facebook and Amazon, business minister Andrea Leadsom said on Thursday.

3 days ago

Analysts raise hopes on Mapletree Industrial Trust following 3Q results

Uma Devi - SINGAPORE (Jan 23): Analysts are raising their target prices on Mapletree Industrial Trust (MINT), after the REIT showed steady growth in its latest set of results, underpinned by its new revenue contributions from acquisitions and development projects. Following the REIT’s results announcement o ...

3 days ago

Retail space rents grew 2.3% in Q4 2019

Staff Reporter - Submitted By:  Shaina Teope Case Study:  No Even with a quarterly increase, a rental gap could emerge as landlords shake up tenant priorities. Rents for retail space jumped 2.3% in Q4 2019 following the same increase of 2.3% in the previous quarter, according to a report by Urban Redevelo ...

3 days ago

Britain will make Huawei decision soon, discussions ongoing - minister

LONDON: Britain will soon decide what role China's Huawei will have in its 5G telecommunications network but there are only a limited number of alternative providers, business minister Andrea Leadsom said on Thursday. "Well there other providers but they are limited, ideally there would be more ...

3 days ago

Office rents edged down 3.2% in Q4 2019

Staff Reporter - Submitted By:  Shaina Teope Case Study:  No Demand is expected to be subdued in 2020 due to companies’ budget restraints for expansion. Office space rents saw a decrease of 3.2% in Q4 2019, a bigger plunge compared to the 0.6% slide in the previous quarter, according to a report by ...

3 days ago

AMTD, Xiaomi to create fintech leadership programme with SMU and NUS

Ng Ren Jye - HONG Kong investment bank AMTD Group and the financial services arm of Chinese tech giant Xiaomi have joined hands with Singapore Management University (SMU) and the National University of Singapore (NUS) to create a fintech training programme for entrepreneurs, senior executives ...

3 days ago

Home prices jumped 2.7% in 2019: URA

Staff Reporter - Submitted By:  Shaina Teope Case Study:  No Prices of landed homes grew 5.7% for the whole year. Prices of private homes leapt 2.7% YoY for 2019, according to the Urban Redevelopment Authority (URA). For Q4 2019, prices also grew 0.5%. Prices of landed residential properties rose by 5.7% ...

3 days ago

Britain will make Huawei decision soon, discussions ongoing: minister

Fiona Lam - Britain will soon decide what role China's Huawei will have in its 5G telecommunications network but there are only a limited number of alternative providers, business minister Andrea Leadsom said on Thursday.

3 days ago

NUS study removes claim that real estate execs engage in insider trading

Vivienne Tay - RESEARCHERS from the National University of Singapore (NUS) Business School have removed a claim from a research paper stating it had <a href="https://www.businesstimes.com.sg/real-estate/study-finds-insider-trading... evidence of insider trading in the land market</a>.

3 days ago

Grab’s Ming Maa says ride-hailer can grow without extra funding

Nikkei Staff Writers - Grab president is bullish on his company's prospects for sustainable growth. The post Grab’s Ming Maa says ride-hailer can grow without extra funding appeared first on DealStreetAsia.

3 days ago

SGX RegCo issues notice of compliance to continuing sponsor RHT Capital over potential conflict of interest

Stanislaus Jude Chan - SINGAPORE (Jan 23): Singapore Exchange Regulation (SGX RegCo) has issued a notice of compliance to RHT Capital to demonstrate how it is able to maintain independence and avoid conflict of interest despite various services provided by entities under the group. RHT Capital is currently the continuing ...

3 days ago

Aircraft technician who hit maid on head for trying to clear guest’s plate, among other abuse, jailed 4 months

gordon.feeney -

3 days ago

Scoot cancels flights to China's Wuhan over virus outbreak

amanda.eber -

3 days ago

ECB to launch review that will redefine its mission and tools

European Central Bank President Christine Lagarde is set to launch a broad review of its policy on Thursday that is likely to see her redefine the ECB's main goal and how to achieve it.