Wednesday, May 15, 2019

TOP STORIES

BT EXCLUSIVE

S$20m funding sought for honestbee; no update on strategy tweak

INVESTORS were approached about raising at least S$20 million for struggling grocery...

PUBLISHED May 15, 2019 05:50 AM

Strategists betting on safe-haven assets amid market swings

US-CHINA trade tensions have brought market volatility back into the picture, and with...

PUBLISHED May 15, 2019 05:50 AM
STARTUPS

Temasek, UOB commit a further US$200m to venture debt firm InnoVen

ASIA venture debt firm InnoVen Capital has secured US$200 million of additional...

PUBLISHED May 15, 2019 05:50 AM
THE PITCH

SoCash turns shops into cheaper ATMs for banks

BANKS in Singapore spend about US$200 million a year on ATM maintenance, logistics,...

PUBLISHED May 15, 2019 05:50 AM
STARTUPS

Edtech startup Cialfo raises US$3m in Series A funds for US expansion

CIALFO, a college admissions platform headquartered in Singapore, has raised US$3...

PUBLISHED May 15, 2019 05:50 AM
HYFLUX SAGA

Utico has so far submitted draft term sheet, not binding offer: Hyflux

NO BINDING offer to invest in Hyflux has been submitted by Utico, Hyflux said on...

PUBLISHED May 15, 2019 05:50 AM
TRADE WAR

Businesses need to prepare themselves for US-China trade war fallout: Minister Chan

SINGAPORE is not immune to the fallout from the US-China trade war, although it is...

PUBLISHED May 15, 2019 05:50 AM
COMMENTARY

Current state of tariff battle is already causing real harm

THE US and China inched closer to an outright trade war on Monday when Beijing...

PUBLISHED May 15, 2019 05:50 AM

COMPANIES & MARKETS

HOCK LOCK SIEW

Potential hike in Ningbo bank stake behind OCBC's conservative dividends?

DOES OCBC Bank need that much capital? What does it want to do with all that excess...

PUBLISHED May 15, 2019 05:50 AM

Chuang family offers S$1.35 a share to delist Memtech

THE Chuang family that controls Memtech International has made a voluntary conditional...

PUBLISHED May 15, 2019 05:50 AM

Singtel stumbles towards lowest profit in 16 years, faces cost pressure

SINGTEL is set to post its lowest annual profit in 16 years on Wednesday morning,...

PUBLISHED May 15, 2019 05:50 AM

Ayondo says it's 'committed to complying' with SGX's order on sale of its AML unit

AYONDO said on Tuesday that its board is working closely with the Singapore Exchange...

PUBLISHED May 15, 2019 05:50 AM

Foreland Fabrictech's newly appointed independent director quits after SGX queries

FORELAND Fabrictech Holdings said independent non-executive director Soh Yong Soon has...

PUBLISHED May 15, 2019 05:50 AM

Final Basel III proposals 'credit positive' for local banks: Moody's

RATINGS agency Moody's Investors Service said in a report that the proposed final...

PUBLISHED May 15, 2019 05:50 AM

GIC, BC Partners to sell majority stake in Acuris to Ion in £1.35b deal

IRISH software firm Ion Group is buying a majority stake in financial intelligence...

PUBLISHED May 15, 2019 05:50 AM

Foxconn's Terry Gou to sell stake in trustee-manager of Asian Pay TV Trust

FOXCONN founder Terry Gou will sell his interest in the trustee-manager of Singapore-...

PUBLISHED May 15, 2019 05:50 AM
STOCKS

Risk-off stance persists as sell-off continues

RISK-off stance remains prevalent, as sell-offs continued on Tuesday in local and...

PUBLISHED May 15, 2019 05:50 AM

Brokers' take

While revenue was maintained, margins narrowed to 16.1 per cent in Q1 2019 from 23.3...

PUBLISHED May 15, 2019 05:50 AM
CURRENCIES

Yuan, Aussie dollar strengthen on trade talk hopes

CHINA'S yuan and the Australian dollar regained some poise on Tuesday after US...

PUBLISHED May 15, 2019 05:50 AM

Straits Trading first-quarter earnings up 78% at S$17m

THE Straits Trading Company has posted a net profit of S$17.3 million for the first...

PUBLISHED May 15, 2019 05:50 AM

Credit Suisse and Rothschild advising Olam on restructuring

SINGAPORE-based Olam International has picked Credit Suisse and Rothschild & Co as...

PUBLISHED May 15, 2019 05:50 AM

New acquisitions drive ComfortDelGro's Q1 profit

POWERED by contributions from new acquisitions, transport giant ComfortDelGro posted a...

PUBLISHED May 15, 2019 05:50 AM

BRC Asia's Q2 profit soars to S$5.4m

STEEL-BAR seller BRC Asia's second-quarter net profit soared to S$5.4 million, eight...

PUBLISHED May 15, 2019 05:50 AM

Corporate digest

MAINBOARD-listed water treatment and environmental protection firm SIIC Environment...

PUBLISHED May 15, 2019 05:50 AM

REAL ESTATE

Singapore's JustCo secures three new co-working centres in Taipei

SINGAPORE-BASED JustCo has expanded to Taipei, securing three new co-working centres...

PUBLISHED May 15, 2019 05:50 AM

Singapore condo resale prices up 0.9% in April: SRX

RESALE prices for non-landed private residential units rose 0.9 per cent in April 2019...

PUBLISHED May 15, 2019 05:50 AM

Marriott planning major makeover for 'beige' Sheratons

MARRIOTT International made a downpayment of sorts on a sweeping overhaul of the...

PUBLISHED May 15, 2019 05:50 AM

BANKING & FINANCE

Investors shed European safe-haven bonds on trade talk hopes

EUROPEAN safe-haven government bond yields rose away from six-week lows on Tuesday...

PUBLISHED May 15, 2019 05:50 AM

London insurance market facing huge skills shortage

THE London insurance market faces a huge skills shortage as it lags behind sectors...

PUBLISHED May 15, 2019 05:50 AM

HSBC, Barclays said to be advising Dubai banks on Noor purchase

DUBAI Islamic Bank PJSC hired HSBC Holdings Plc to advise on its possible acquisition...

PUBLISHED May 15, 2019 05:50 AM

ENERGY & COMMODITIES

Global energy investment steadies at US$1.85t in 2018

GLOBAL energy investment steadied at nearly US$1.85 trillion in 2018 after three years...

PUBLISHED May 15, 2019 05:50 AM

Asia's spot oil prices rise to multi-year highs on tight supply

PRICES of Middle East and Russian spot crude grades sold in Asia hit multi-year highs...

PUBLISHED May 15, 2019 05:50 AM

TECHNOLOGY

Trump seeks further US$1.6b to return to Moon by 2024

THE Trump administration asked Congress on Monday to increase the National Aeronautics...

PUBLISHED May 15, 2019 05:50 AM

Amazon rolls out machines that pack orders and replace jobs

AMAZON.COM Inc is rolling out machines to automate a job held by thousands of its...

PUBLISHED May 15, 2019 05:50 AM

Facebook raising pay for contract workers

FACEBOOK on Monday announced pay raises for thousands of contract workers, as well as...

PUBLISHED May 15, 2019 05:50 AM

CONSUMER

Nexon's parent delays bidding for its stake

THE parent of top South Korean gaming firm Nexon Co Ltd has delayed the bidding...

PUBLISHED May 15, 2019 05:50 AM

WhatsApp urges update after 'serious' security breach

WHATSAPP on Tuesday encouraged its users to upgrade the app to plug a security breach...

PUBLISHED May 15, 2019 05:50 AM

FamilyMart's China business threatened by partners' feud

FAMILYMART, the most successful Japanese convenience-store chain in China, is...

PUBLISHED May 15, 2019 05:50 AM

TRANSPORT

STRAIT TALK

Slow progress on recycling

TWENTY years ago, how to dispose of old ships past their useful lives was not really...

PUBLISHED May 15, 2019 05:50 AM

Nissan mulls buying 25% stake in Chinese electric-car startup

NISSAN Motor Co is looking to invest in a Chinese electric-car startup, according to...

PUBLISHED May 15, 2019 05:50 AM

Boeing slumps after editor's tweet raises prospect of lost China sales

BOEING Co fell to the lowest closing level in four months as US-China trade tensions...

PUBLISHED May 15, 2019 05:50 AM

Tesla car catches fire in Hong Kong parking lot

A TESLA Inc electric car caught fire in a parking lot in a Hong Kong shopping mall,...

PUBLISHED May 15, 2019 05:50 AM

GOVERNMENT & ECONOMY

TRADE WAR

China, US agree on continuing talks

CHINA and the United States have agreed to keep talking about their trade dispute, the...

PUBLISHED May 15, 2019 05:50 AM

Sri Lanka imposes curfew again as anti-Muslim riots escalate

SRI LANKA'S police on Tuesday declared a nationwide curfew for a second night running...

PUBLISHED May 15, 2019 05:50 AM

Thailand unveils Senate made up of military government's allies

THAILAND unveiled an appointed Senate that will play a key role in selecting the next...

PUBLISHED May 15, 2019 05:50 AM

LIFE & CULTURE

Two Singaporean teen golfers earn US trip

IT IS widely acknowledged that promising Singapore athletes experience leaps in...

PUBLISHED May 15, 2019 05:50 AM

Cézanne chromatic still life sells for US$59.3m at auction

A PAINTING by Paul Cézanne owned by billionaire magazine publisher S I Newhouse Jr...

PUBLISHED May 15, 2019 05:50 AM

OCBC beneficiaries' preview visit to Bicentennial Experience

OCBC Bank group CEO, Samuel Tsien, staff volunteers and 55 vulnerable seniors and...

PUBLISHED May 15, 2019 05:50 AM

EXECUTIVE MONEY

Wealth advisers flee big banks for smaller firms

ANOTHER day, another team of wealth advisers leaving a Wall Street bank.

PUBLISHED May 15, 2019 05:50 AM

Many Americans will need long-term care. Most won't be able to afford it

GRETCHEN Harris likes the small brick house she bought in Norman, Oklahoma, 36 years...

PUBLISHED May 15, 2019 05:50 AM

Allianz's managed assets reach record after clients add 18b euros

ALLIANZ SE's giant investment business saw managed assets grow to a record as clients...

PUBLISHED May 15, 2019 05:50 AM

OPINION

Policy goals are one thing. Fulfilling them is another

It would be difficult to deny that Donald Trump ran for the presidency in 2016 by...

PUBLISHED May 15, 2019 05:50 AM
THE BOTTOM LINE

Why China millionaires are keen to emigrate

EVERY year for the last decade or so, media reports would appear, focusing on the...

PUBLISHED May 15, 2019 05:50 AM
EDITORIAL

New chapter in US diplomacy playbook - alienate both China and Russia

ONE of the rules that a global power needs to follow when it operates in a multipolar...

PUBLISHED May 15, 2019 05:50 AM

Has the BJP lost its mojo in the core Hindi heartland?

THE wheels are coming off the "Modi juggernaut" that was expected to propel the Indian...

PUBLISHED May 15, 2019 05:50 AM
COMMENTARY

Privacy should not be a luxury good

GOOGLE products are designed to be helpful. They take the friction out of daily life (...

PUBLISHED May 15, 2019 05:50 AM
COMMENTARY

EU and Singapore: accelerating digital transformation and delivering value

IT is a pleasure for me to visit Singapore, one of the world's most forward-looking,...

PUBLISHED May 15, 2019 05:50 AM

BREAKING NEWS

May 21, 2019 06:58 PM

Hundreds protest as Indonesia confirms president's re-election

[JAKARTA] Indonesian President Joko Widodo comfortably won re-election in last month's poll, an official count...

May 21, 2019 06:30 PM

Daily Debrief: What Happened Today

Stories you might have missed

May 21, 2019 06:17 PM

Growth fears, trade worries send Singapore shares down 0.7% on Tuesday

SINGAPORE stocks closed broadly lower on Tuesday, as the final reading on gross domestic product (GDP) missed...

May 21, 2019 05:37 PM

Malaysia: Shares close lower on Tuesday

MALAYSIA share prices closed lower on Tuesday, with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 1.62...

May 21, 2019 05:35 PM

Stop it! Japan anti-groper app becomes smash hit

[TOKYO] A Tokyo police smartphone app to scare off molesters has become a smash hit in Japan, where women have long...

May 21, 2019 05:16 PM

For many wealthy Brazilians, Portugal is becoming the new Miami

[LISBON] Brazilian entrepreneur Ricardo Bellino knows a good deal when he sees one. So after more than a decade...

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