Business News

South Korean fraud in Swiss firm ABB to cost $100 pre-tax charge for firm

It was estimated the loss was equivalent to roughly 4% of ABB's 2016 net profit of $1.96 billion.

Feb 22, 2017

By Boby Michael

Pound falls as Q4 GDP growth numbers revised down

The UK economy expanded only 2% y-y in Q4, less than 2.2% flashed in the preliminary estimate.

Feb 22, 2017

By Boby Michael

Asian currencies flat, shares mixed ahead of US holiday; European politics, Fed speakers in focus

Headlines from France and Germany and FOMC minutes will be the markets will be mainly watching for this week.

Feb 20, 2017

By Boby Michael

Singapore GDP growth rate at three-year high as preliminary figures revised sharply higher

The y-y Q4 GDP growth rate is revised to 2.9% from 1.8% and that for the full year 2016 to 2% from 1.8%.

Feb 17, 2017

By Boby Michael

Brexit-related worries fade out for UK home buyers: Knight Frank survey

The HPSI reading came in at 57.5, up from 55.8 in January, marking its seventh consecutive rise.

Feb 17, 2017

By Boby Michael

Bank Indonesia is likely to keep policy rates near record low as economy looks for better growth in 2017

The BI is widely expected to keep the benchmark 7-day reverse repo rate at its record low of 4.75%.

Feb 16, 2017

By Boby Michael

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

DBS says Q4 net drops 9% as more funds kept aside for bad loans, full year net down 2%, shares up

The DBS has proposed a final dividend of 30 Singapore cents a share and for a full-year dividend of 60 Singapore cents.

Feb 16, 2017

By Boby Michael

Australian dollar near 3-month high as jobless rate dips from 6-month high

Aussie is now just 33 pips away from a 10-month high and 54 pips near 21-month high.

Feb 16, 2017

By Boby Michael

Taiwan GDP growth rate rises to 2-year high; currency strongest in 8 months

Taiwanese economy expanded 2.88% from a year earlier in the three months to December.

Feb 15, 2017

By Boby Michael

Stock rotation to continue as Fed seen open to 2016 hike

Dollar at 1-month high vs euro, multi-week highs vs yen and franc on Yellen rate hike remarks

The US is expected to continue to expand at a moderate pace and waiting too long to raise rates would be unwise, Yellen said on Monday.

Feb 15, 2017

By Boby Michael

Singdollar off 2-week low, NZ currency strengthens as food price inflation rises

Food inflation in New Zealand went up 1.4% year-on-year in January to its highest since March 2015.

Feb 14, 2017

By Boby Michael

2 Singaporeans charged in Australia for dealing with criminal proceeds

Australian dollar shrugs off China inflation, edges near 3-month high on NAB data

The business confidence index released by National Australia Bank has jumped to a three-year high of 10.0 in January from 6.0 in December.

Feb 14, 2017

By Boby Michael

China inflation soars to 32-month high fuelling worries of further PBoC tightening

The CPI jumped 2.5% y-y in January, its highest since May 2014, beating consensus of 2.4%, and up from December rate of 2.1%

Feb 14, 2017

By Boby Michael

Singapore sets up Data Analytics Group, picks up Azendian founder Hardoon as head

The DAG will lead MAS' efforts to harness the power of data analytics to unlock insights and enhance the supervision of financial institutions.

Feb 13, 2017

By Boby Michael

Singapore to launch blockchain technology for interbank payments

Singapore central bank to boost funding for next generation growth companies

The MAS said it wants to strengthen financing channels for next-generation Asian growth companies and build technology infrastructure to drive innovation.

Feb 13, 2017

By Boby Michael

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