Business News

Strong Q4 rebound helps Singapore avoid recession; GDP rises 1.8% on year

A sharp rebound in manufacturing and services helped GDP to expand 9.1 percent quarter on quarter.

Jan 3, 2017

By Jacob J

China to relax foreign investment norms as part of 'Made in China 2025 Strategy'

'Besides advanced technology and experience in management, China also need capital investment from overseas'

Dec 30, 2016

By Jacob J

Singapore: Inchcape to sack 120 workers amid gloomy economic outlook

It is also reported that the company is likely to move its finance and IT functions out of Singapore

Dec 30, 2016

By Bihu Ray

Thailand, Indonesia and Malaysia jointly agrees to promote local currencies

Thailand, Indonesia and Malaysia sign currency deal amid decline against greenback

The Malaysian ringgit, Thai baht and Indonesian rupiah have fallen against the US dollar this year.

Dec 24, 2016

By Samhati Bhattacharjya

Hyundai Heavy, Daewoo Shipbuilding and Samsung Heavy job cuts

Korean ship builders to be in choppy waters until oil climbs back into $70 levels

Debt pile is the biggest in 20 years and there are doubts if shipbuilders like Daewoo, Samsung and Hyundai will be able to avoid default.

Dec 24, 2016

By Jacob J

Deutsche Bank to pay $7.2 bln to settle US Justice Department investigation

Deutsche Bank will pay a $3.1 billion in penalty and 4.1 billion in relief to consumers under deal with DoJ.

Dec 23, 2016

By Jacob J

Singapore orders closure of Swiss bank BSI linked to 1MDB

Ex-BSI banker Yeo Jiawei sentenced to 30 years in jail over 1MDB scandal

Yeo Jiawei was accused of brokering illegal transactions involving 1MDB funds and trying to influence witnesses in the case.

Dec 22, 2016

By Jacob J

Singapore: Director of TAC Contracts jailed 30 months for corruption

Ling was found guilty of giving corrupt payments to his clients after his company secured jobs with them.

Dec 22, 2016

By Bihu Ray

South China Sea: Beijing releases US drone after Trump snub

Etihad cuts jobs in cost reduction drive as Gulf carriers face long-haul blues

Etihad says there will be "a measured reduction of headcount in some parts of the business."

Dec 20, 2016

By Jacob J

China's economy expands 6.7% in Q3, as Govt spending offsets weak exports

At 6.5% China GDP growth rate will hit new 25-year low in 2017

China's top leaders chose to stick to a "prudent and neutral" monetary policy in 2017.

Dec 19, 2016

By Reuters

Malaysian ringgit plunges to weakest level since Asian economic collapse in 1998

The continued oil slump and the fall in current account surplus to 13-year lows also contribute to the ringgit's decline.

Dec 19, 2016

By Jacob J

Singapore dollar will drop to '2009 recession levels' in six months as MAS set to cut rates

Analyst says currency's weakening has become inevitable as the Monetary Authority of Singapore (MAS) is set to start easing in April.

Dec 17, 2016

By Jacob J

Expensive caviar to reach masses after price slump

An increase in production has made the price of the food go down and it will be more widely available now

Dec 16, 2016

By Bihu Ray

Yahoo CEO Marissa Mayer talks about strategic alternatives

Yahoo reveals new hack exposed 1 bln user accounts; Verizon says integration is on

The latest data breach revelation gives Verizon more room to push for a better deal with Yahoo.

Dec 15, 2016

By Jacob J

Singapore assets under management growth declines year-on-year

Economists slash Singapore GDP, exports growth expectations further

Weakness in sectors like finance, insurance, construction and trade would push Singpore growth numbers down.

Dec 14, 2016

By Jacob J

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