Business News

Alibaba-backed Lazada acquires Singapore grocer RedMart

RedMart will "continue to operate independently" after acquisition.

Nov 3, 2016

By Jacob J

Here's how President Duterte sent Philippine Peso crashing to 7-year lows

According to Credit Suisse, the currency will drop further to 50.3 by March next year.

Nov 2, 2016

By Jacob J

SIA engineering second quarter net profit plunges 20%

SIA says it will restructure and streamline operations to cope with global economic uncertainties.

Nov 2, 2016

By Jacob J

Lee makes historic address to Australian parliament

Prime Minister Lee says slower growth is new normal, rules out economic crisis

The fix is not an emergency package like the one rolled out during the 2008 financial crisis, PM says.

Nov 2, 2016

By Jacob J

SGX pulls up Swiber Holdings over $710 mln project linked to bond defaults

Regulators say Swiber failed to "to provide a balanced and fair announcement" for the $710 million project.

Nov 1, 2016

By Jacob J

Hyundai Heavy, Daewoo Shipbuilding and Samsung Heavy job cuts

South Korea in last-ditch effort to rescue sinking shipbuilders

The government will order more than 250 vessels and offer about 6.5 trillion won in financing.

Nov 1, 2016

By Jacob J

EMAS offshore reports full-year loss; warns of write downs, grim outlook

EMAS reports full-year loss of S$137.2 million and quarterly loss of S$98.5 million.

Oct 31, 2016

By Jacob J

Singapore's DBS among banks in bid to buy Barclays' Asian wealth unit

DBS says acquiring ANZ Bank's Asia wealth, retail business

Earlier this year, OCBC Bank beat DBS in the race for Barclay's wealth businesses in Singapore and Hong Kong.

Oct 31, 2016

By Jacob J

SembCorp industries posts 56% drop in third quarter profits

SembCorp posted a Q3 net profit of S$53.9 million, down from S$122.3 million a year ago.

Oct 28, 2016

By Jacob J

SingPost shares rise 7% to hit 2-year high after Alibaba raises stake

SingPost says Alibaba will invest S$86.2 million in its company's logistics unit.

Oct 28, 2016

By Jacob J

Myanmar government launches thin economic policy

Myanmar business climate has improved, says World Bank

Suu Kyi asks business leaders to take advantage of the easing of the UN sanctions.

Oct 27, 2016

By Jacob J

OCBC says will keep firm grip on cost after reporting 5% rise in Q3 net profit

Net profit for OCBC was S$943 million in the quarter ended September,

Oct 27, 2016

By Jacob J

Singapore Q3 jobs report: Total employment shrinks; layoffs higher

The manufacturing sector reports a fall in the number of job losses.

Oct 27, 2016

By Jacob J

Global shipbuilders brace for earnings pain; more job cuts loom

Samsung, Hyundai and Daewoo lost a combined $8.1 billion since the oil price crash in mid-2014.

Oct 26, 2016

By Jacob J

Singapore manufacturing reports surprise turnaround with 6.7% growth

Severe downturn continued in offshore engineering segment which reported a 31.5 percent decline.

Oct 26, 2016

By Jacob J

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