2 days ago
Bitcoin, Ether slide as risk aversion spreads to crypto market
ETHER, the second-largest token, paced a drop in digital assets following a slump in equities that spread unease in global markets.
Business Headlines & Market News
Business Headlines and Stock Market News by Singapore Financial News Publishers
2 days ago
Cordlife’s overseas subsidiaries obtain re-accreditations
Vivienne Tay - CORDLIFE on Thursday (Jul 25) said its Hong Kong and Malaysian subsidiaries received re-accreditations from the Association for the Advancement of Blood...
2 days ago
Cordlife’s overseas units obtain re-accreditations
Vivienne Tay - CORDLIFE on Thursday (Jul 25) said its Hong Kong and Malaysian subsidiaries received re-accreditations from the Association for the Advancement of Blood...
2 days ago
Singapore Institute of Management plans overseas teaching centres in Indonesia amid growing interest
Elisa Valenta - [JAKARTA] The Singapore Institute of Management (SIM) aims to establish overseas teaching centres in Indonesia in response to growing student interest in...
2 days ago
YouTrip users can now transfer funds back to bank account, subject to conditions
The new feature only applies to top-ups made via PayNow or linked bank accounts after midnight on Jul 22.
2 days ago
US yield curve steepens as bond traders see Fed cuts looming
Bloomberg - The US yield curve steepened sharply amid growing calls for the Federal Reserve to start cutting interest rates as soon as next week. Yields on policy-sensitive two-year Treasuries slid three basis points on Wednesday, while those on 10-year bonds were up by about the same amount. That pushed the di ...
2 days ago
Drone incident has ‘negligible impact’ on ISOTeam, says SAC Capital
Ashley Lo - SAC Capital analysts Daniel Ng and Matthias Chan have kept their “buy” call on ISOTeam as they see “negligible impact” on the company after the drone crash at One-North Residences. The Civil Aviation Authority of Singapore (CAAS) suspended the drone operations of H3 Dynamics Holdings after ...
2 days ago
China unexpectedly cuts one-year policy rate by most since 2020
Bloomberg - The People’s Bank of China (PBOC) unexpectedly lowered the rate on its one-year policy loans by the most since April 2020 days after cutting a key short-term rate, in a sign of greater support for the slowing economy. The central bank lowered the rate of medium-term lending facility (MLF) by 20 ba ...
2 days ago
US$1 trillion rout hits Nasdaq 100 over AI jitters in worst day since 2022
INVESTORS soured on the promise of artificial intelligence (AI) on Wednesday (Jul 24), sparking a US$1 trillion rout in the Nasdaq 100...
2 days ago
Condo resale volumes fall 29.9% in June; RCR prices inch up: SRX, 99.co
Hykel Quek - CONDOMINIUM resale volumes fell in June, while resale prices posted mixed performances.
2 days ago
SBF to set up trade and investment initiative to help firms deepen trade capabilities
Paige Lim - THE Singapore Business Federation (SBF) will set up a new trade and investment initiative to help Singapore and regional businesses deepen their...
2 days ago
Japan's Honda to close China plant, halt production at another factory
Japan's Honda Motor will close a factory in China and halt vehicle production at another plant, the automaker said on Thursday (Jul 25), as it seeks to start producing more electric vehicles amid heavy competition from Chinese brands. Honda will close a plant operated through its joint venture ...
2 days ago
Mt Gox creditors get crypto repayments after decade of waiting
MT GOX creditors are receiving a portion of the roughly US$8 billion worth of cryptocurrency they have been owed since a hack...
2 days ago
Citi and DBS upbeat on Digital Core REIT as demand for data centres in key markets remains robust
Nicole Lim - Analysts from Citi Research and DBS Group Research remain upbeat on Digital Core REIT (DCREIT) despite the 1HFY2024 results ended June 30, which saw a 6.3% y-o-y decline in distribution per unit (DPU) of 1.80 US cents (2.42 cents). Citi’s Brandon Lee keeps his “buy” call with a target price ...
2 days ago
Asia: Markets track tech-led plunge on Wall Street, yen extends gains
ASIAN markets tumbled on Thursday (Jul 25) after a tech-fuelled sell-off saw Wall Street tank, as disappointing earnings caused traders to panic...
2 days ago
Allegations related to Venice corruption probe ‘unfounded and untrue’: Oxley CEO
Hykel Quek - PROPERTY developer Oxley issued a clarification on Wednesday (Jul 24) night following articles that reported the alleged involvement of its executive chairman...
2 days ago
Australia’s Fortescue to step up energy spending despite job cuts
AUSTRALIA’S Fortescue said on Thursday (Jul 25) it will increase spending on its energy division to advance several new green hydrogen projects...
2 days ago
Funds turn to Korea for AI stock exposure as TSMC gets crowded
Bloomberg - Investors searching for ways to navigate into the artificial intelligence story are turning their sights away from Taiwan and toward South Korea. Federated Hermes, M&G Investments and Invesco Asset Management are underweight Taiwanese stocks and overweight Korean shares, saying positioning in th ...
2 days ago
Keppel partners Perennial to provide ‘energy-as-a-service’ in Chengdu
Chong Xin Wei - GLOBAL asset manager Keppel is collaborating with Perennial to roll out “energy-as-a-service” (EaaS) in Chengdu, China, said the company on Thursday (Jul...
2 days ago
China central bank surprises by lending again at lower rates
CHINA’S central bank surprised markets for a second time this week by conducting an unscheduled lending operation at steeply lower rates, suggesting...
2 days ago
Allianz stake acquisition to help Income compete in market ‘dominated by regional, global competitors’: NTUC Enterprise
Vivienne Tay - NTUC Enterprise has assured Income Insurance’s shareholders and policyholders amid surprise and disquiet over Allianz’s bid to acquire 51 per cent of...
2 days ago
Honda to cut ICE car production capacity in China: report
CARMAKER Honda Motor is planning to cut down the production capacity of internal combustion engine (ICE) cars by one-third, Nikkei reported on...
2 days ago
Kering warns on profits after Gucci sales fall almost 20%
Second-quarter performance highlights struggle to turn round Paris-based luxury company.
2 days ago
Gold little changed as traders brace for US data
GOLD prices were little changed on Thursday (Jul 25) as investors waited for US economic data to gauge the timing of the...
2 days ago
The North Star to enterprise AI success
Lim Wee Tee - In today’s competitive landscape, business success hinges on implementing a deliberate strategy. From product development to market expansion, every decision needs a well-defined roadmap to success because even the most ingenious concepts can fizzle out and gather dust without a clear purpose and ...
2 days ago
Air fare pain eases as pricing power swings back to passengers
QANTAS Airways, not known for usually offering big discounts, has cut prices more than six times this year. Virgin Australia is averaging...
2 days ago
RHB upgrades Venture Corp to ‘buy’ as it anticipates recovery moving into FY2025
Felicia Tan - RHB Bank Singapore analyst Alfie Yeo has upgraded Venture Corporation to “buy” from “neutral” with a higher target price of $16.50 from $14.20 previously. “We think Venture Corp is seeing the tail-end of its customers’ destocking phase, and anticipate its recovery moving into FY2025,” ...
2 days ago
NBA signs broadcasting deal with Disney, Amazon, Comcast worth US$77 billion
WALT Disney’s ESPN, Comcast-owned NBCUniversal and Amazon.com have clinched the rights to carry National Basketball Association (NBA) games in an 11-year deal...
2 days ago
S&P 500 snaps longest streak without a 2% decline since 2007
Bloomberg - A steep selloff in high-flying technology stocks sent the S&P 500 Index to its worst day since December 2022, ending its best stretch without a 2% decline since the start of the global financial crisis in 2007. The US equities benchmark slid 2.3% on Wednesday, ending 356 sessions through Tuesd ...
2 days ago
US spot ether ETFs see net inflows of US$106 million on first day
THE nine exchange-traded funds (ETFs) tied to the spot price of ether, the world’s second-largest cryptocurrency, scooped up net inflows of US$106...
2 days ago
Keppel partners Perennial Holdings to roll out energy-as-a-service solutions in Chengdu
Felicia Tan - Keppel has partnered Perennial Holdings to roll out energy-as-a-service (EaaS) solutions in Perennial’s developments in Chengdu. Keppel will design, retrofit, manage and operate the existing cooling and heating systems of two of Perennial’s flagship developments in the city for a period of 10 ye ...
2 days ago
Singapore shares open lower on Thursday; STI down 0.6%
Chong Xin Wei - SINGAPORE shares started trading in negative territory on Thursday (Jul 25), mirroring overnight losses in the global market.
2 days ago
SK Hynix shares tumble by most in three months after AI selloff
Bloomberg - Shares of SK Hynix Inc. tumbled after a rout in tech stocks, overwhelming solid financial results for the supplier to Nvidia Corp. in the June quarter. The company, which supplies chips that train artificial intelligence models, reported sales more than doubled to 16.4 trillion won ($15.92 billion) ...
2 days ago
Yoma to complete proposed acquisition of Yoma Fleet on July 26
Felicia Tan - Yoma Strategic’s proposed acquisition of the remaining 20% stake in Yoma Fleet will be completed on July 26. Under the agreement, Yoma will acquire all of Tokyo Century Asia’s interest in Yoma Fleet comprising 2 million shares. As part of the consideration, Yoma Strategic has issued and allotted ...