HONG KONG (BLOOMBERG) – ByteDance is in discussions to raise US$2 billion (S$2.7 billion) before listing some of its businesses in Hong Kong, people familiar with the matter said, even as it seeks to avoid a ban on its TikTok service in the US. The Chinese company is in talks with a group of investors […]

TOKYO (REUTERS) – Japan’s household spending slumped in September from a year earlier and real wages slid for the seventh straight month, data showed on Friday (Nov 6), a sign sluggish domestic demand will continue to drag on any recovery in the world’s third-largest economy. The data underscores the challenge authorities face in balancing the […]

SINGAPORE (THE BUSINESS TIMES) – Frasers logistics & Commercial Trust (FLCT) distribution per unit (DPU) rose 5.5 per cent to 3.65 cents for its second half ended Sept 30, from 3.46 cents a year ago, its manager said in a regulatory filing on Friday morning (Nov 6). Revenue nearly doubled, rising to a record $213.3 […]

SINGAPORE – While Housing Board (HDB) resale volume dipped in October compared to the previous month, prices continued to rise, indicating that demand remained relatively robust amid the Covid-19 pandemic. In addition, 13 HDB resale flats were sold for more than $1 million, flash estimates from real estate portal SRX showed on Thursday (Nov 5). […]

SINGAPORE (BLOOMBERG) – The US presidential election result may still be in doubt, but whoever emerges victorious will need to unite the country to adapt to the challenges of globalisation and digitisation or risk a backlash so severe it could damage the global economic system, Singapore’s Trade and Industry Minister Chan Chun Sing warned on […]

SINGAPORE – Smaller companies will be able to file taxes more easily this year, with new initiatives rolled out by the Inland Revenue Authority of Singapore (Iras), it said on Thursday (Nov 5). These include a simplified tax form, called Form C-S (Lite), with fewer fields to fill in, and a system that allows direct […]

SINGAPORE (THE BUSINESS TIMES) – CapitaLand, SP Group and Sembcorp Industries have tied up to jointly study the use of integrated energy solutions to power data centres. The integrated energy solutions will potentially include a combination of solar photovoltaic, green hydrogen and energy storage among others, the companies said on Thursday (Nov 5). These will […]

SYDNEY (REUTERS) – Singapore led a rally in Asian stock markets on Thursday (Nov 5) as investors as investors cheered US election results that pointed to a government less likely to impose tough financial regulations. Japan’s Nikkei rose 0.9 per cent to a nine-month top and South Korea put on 1.5 per cent. Hong Kong […]

HONG KONG (AFP) – Shares of Chinese e-commerce giant Alibaba tumbled in Hong Kong on Wednesday (Nov 4) following a shock decision by Chinese regulators to scrap the public listing of its spin-off financial tech company Ant Group. As trading opened in Hong Kong, Alibaba’s stock price fell 9.61 per cent to HK$271.00, following an […]

SINGAPORE- Enforcement actions by the Monetary Authority of Singapore (MAS) have secured nine criminal convictions and $11.7 million in civil penalties in the 18 months to June 2020. The central bank has also imposed $3.3 million in composition penalties for money laundering-related control breaches. It issued 25 prohibition orders against unfit representatives of financial institutions […]

BEIJING (REUTERS) – The recovery in China’s service sector activity extended into a sixth straight month in October, an industry survey showed on Wednesday (Nov 4), with hiring picking up to the highest level in a year but overseas demand slipping. The Caixin/Markit services Purchasing Managers’ Index (PMI) rose to 56.8 from September’s 54.8, the […]

SINGAPORE (THE BUSINESS TIMES) – CapitaLand expects its financial performance for FY2020 to be materially adversely impacted, despite seeing “encouraging signs of recovery” in operating metrics for Q3, the group said on Tuesday evening (Nov 3). In its business update for the third quarter ended Sept 30, the property giant said: “Following significantly reduced profitability […]

SHANGHAI (REUTERS) – China’s move to suspend Ant Group’s US$37 billion (S$50.3 billion) listing is “necessary, reasonable and legal,” given rising concerns over risks to financial stability, a top Chinese state-backed newspaper cited an expert as saying on Wednesday (Nov 4). Beijing’s surprise actions on Tuesday thwarted the world’s largest stock market debut with just […]

NEW YORK (REUTERS) – On Tuesday night (Oct 3), Mr James McDonald plans to sit among 19 computer screens in his Los Angeles office, waiting for the right moment to pounce on what he hopes will be one of his most profitable trades of the year. That moment will come when the winner of the […]

NEW YORK (REUTERS) – The battered US dollar’s long-term fortunes are unlikely to improve regardless of who wins Tuesday’s US presidential election, investors and analysts said. Despite its recent bounce against a basket of currencies, the dollar index is still down about 9 per cent from its March highs and on track for its worst […]

NEW YORK (BLOOMBERG) – BlackRock upgraded Asia ex-Japan and emerging market equities to overweight one day ahead of the US election on expectations of a “blue wave”. Fund managers are continuing to price in a Democratic sweep – where Joe Biden wins the the US election and the Democrats take both houses of Congress. That […]

NEW YORK (BLOOMBERG) – America’s ailing malls suffered a pair of body blows over the weekend as two major landlords followed their ever-growing list of bankrupt tenants into Chapter 11 protection. Pennsylvania Real Estate Investment Trust and CBL & Associates Properties Inc sought protection from creditors on Sunday (Nov 1), citing pandemic-induced pressures on their […]

SINGAPORE – There are many possibilities and new opportunities for the financial technology sector amid the Covid-19 pandemic, which will also generate jobs here, said labour chief Ng Chee Meng on Tuesday (Nov 3). Mr Ng, who is National Trades Union Congress (NTUC) secretary-general, told a virtual audience at the Digital Banking Symposium: “Covid-19, in […]

SINGAPORE – The United States presidential election is just around the corner and if the polls are right, former vice-president Joe Biden is set to take control of the White House for the next four years. Our policy team sees a 55 per cent chance that Democrats complete a full sweep of both branches of […]

SINGAPORE – As investors confront the upcoming United States presidential election, we believe that, in terms of market impact, two uncertainties dwarf the obvious question of who will win the White House. The first question is whether there will be a smooth transition of power. In past elections, a predictable process was mostly taken for […]