Local shares rebounded yesterday to end a choppy week in the black as investors reacted positively to the country’s non-oil domestic exports (Nodx) figures in September. The benchmark Straits Times Index (STI) climbed 0.37 per cent or 9.4 points to close at 2,533.02 with gainers outpacing losers 246 to 177 on trade of 1.07 billion […]

New Silkroutes Group chairman Goh Jin Hian and finance director William Teo Thiam Chuan have quit amid Commercial Affairs Department (CAD) investigations. Dr Goh quit “to devote more time to his personal affairs”, while Mr Tan stepped down “to focus on personal matters and to pursue other interests”, the healthcare firm said late on Thursday […]

DHAKA • Millions of garment workers could lose their jobs, with global brands demanding price cuts and delaying payments to suppliers which are desperate for orders to survive the Covid-19 pandemic, researchers said yesterday. Suppliers have been asked to make their prices an average of 12 per cent cheaper than last year, research by the […]

KUALA LUMPUR (BLOOMBERG) – Malaysian glove makers are threatening to supplant the once-mighty gaming companies in the nation’s benchmark equity index, thanks to the spectacular rally in their shares. Supermax Corp and Kossan Rubber Industries may join bigger rivals Top Glove Corp and Hartalega Holdings Bhd in the 30-stock FTSE Bursa Malaysia KLCI Index after […]

WASHINGTON (BLOOMBERG) – World Bank chief economist Carmen Reinhart said the coronavirus pandemic is turning into a major economic crisis and warned of the possibility of a financial crisis emerging. “This did not start as a financial crisis but it is morphing into a major economic crisis, with very serious financial consequences,” Ms Reinhart said […]

SINGAPORE (THE BUSINESS TIMES) – The Singapore court on Thursday (OCT 15) sentenced a former CGS-CIMB Securities employee to 20 months and 18 weeks’ jail for her involvement in manipulating trading in the shares of Catalist-listed Koyo International between August 2014 and January 2016. Lau Wan Heng, 62, initially a broker and later a remisier […]

DHAKA (REUTERS) – Millions of garment workers could lose their jobs as global brands are demanding price cuts and delaying payments to suppliers who are desperate for orders to survive the new coronavirus pandemic, US researchers said on Friday (Oct 16). Suppliers have been asked to make their prices an average of 12 per cent […]

SINGAPORE – Singapore’s non-oil domestic exports (Nodx) grew at a slower pace in September, prompting analysts to warn of a still bumpy recovery path ahead. According to data from Enterprise Singapore (ESG) on Friday (Oct 16), shipments last month rose 5.9 per cent year on year, lower than the 7.7 per cent expansion recorded in August. It also […]

LONDON (BLOOMBERG) – Banks are putting the brakes on UK commercial real estate lending as the pandemic batters the economy and stokes fears about looming defaults. New loans declined in the first half by 34 per cent from a year earlier to £15.5 billion (S$27.30 billion), according to a report from The Business School in […]

BRUSSELS (BLOOMBERG) – Huawei Technologies, already getting squeezed out of Europe’s vast market for the next generation of telecom equipment, is under siege in another fast-growing business: cloud computing. US officials have been lobbying European lawmakers and industry leaders to use Western companies – while shunning Huawei – to build data centers and offer infrastructure […]

SYDNEY (REUTERS) – Virgin Australia Holdings CEO Paul Scurrah will be replaced within weeks by Jayne Hrdlicka, the former head of Qantas’ budget offshoot Jetstar, as new owner Bain looks to draw in more travellers with a “hybrid” strategy. The management change at Virgin, to be effective soon after its sale to Bain Capital is completed […]

SINGAPORE (BLOOMBERG) – Mr Kuok Khoon Hong is ready to pull off a remarkable second act. The billionaire sold shares of his China business in the biggest initial public offering (IPO) on the Shenzhen Stock Exchange, thanks to the most popular cooking oil brand in the country. Mr Kuok’s Yihai Kerry Arawana Holdings will debut […]

SINGAPORE – CapitaLand’s wholly-owned lodging business unit, The Ascott Ltd, on Thursday morning (Oct 15) said it is seeing strong recovery in China on the operations front, with apartment revenue in September performing close to 95 per cent of its year-ago level. Ascott also said it has been maintaining a steady stream of openings as […]

SINGAPORE (THE BUSINESS TIMES) – Raffles Education Corp (REC) substantial shareholder Oei Hong Leong has discontinued his latest legal action against the company in relation to its plan to raise its stake in a Chinese property firm. In a statement to the bourse, the mainboard-listed REC announced that Mr Oei and his firm Oei Hong […]

SINGAPORE (THE BUSINESS TIMES) – Sovereign wealth fund GIC will integrate climate change into its investment portfolio, a report noted today (Oct 14). This will involve evaluating the way long-term capital market assumptions are affected by climate change drivers and under different climate change scenarios. GIC is also ensuring that its investment teams integrate climate […]

HONG KONG (REUTERS) – Huawei Technologies is in talks with Digital China Group and other suitors to sell parts of its Honor smartphone unit in a deal that could fetch up to 25 billion yuan (S$5.04 billion), people with knowledge of the matter said. Embattled Huawei is resetting its priorities in the face of US […]

SINGAPORE (THE BUSINESS TIMES) – Shares of medical products supplier Medtecs International advanced further on Wednesday (Oct 14), following its stellar third-quarter financial results that were boosted by explosive demand for personal protective equipment (PPE). The Catalist-listed stock climbed as much as 7.4 per cent or $0.11 to hit $1.59 at around 11.45am. It eased […]

JAKARTA (BLOOMBERG) – Contemporary Amperex Technology (CATL) and LG Chem, two of the world’s top producers of batteries for electric vehicles (EV), have signalled they may join projects that could see US$20 billion (S$27.2 billion) more invested in supply chains in Indonesia, according to the country’s government. The firms signed separate heads of agreement with […]