Bizview: Today's top business news

SIA doubles Q3 operating profit to S$288 million on sterling contribution from parent

Operating profits at Singapore Airlines (SIA) for the October-December quarter doubled to $288 million, on the back of sterling performance by the parent carrier as well as subsidiaries SilkAir and Scoot. Net profit for the quarter jumped 35.5 per cent year-on-year to $275 million.

US dollar suffers worst day in 7 years on signs of slowing economy, down 1% against Singdollar

The US dollar plunged on Wednesday (Feb 3) by the most since the Federal Reserve announced the start of its Treasury bond-buying programme seven years ago, as signs of a slowing US economy helped derail bets on diverging policies between global central banks.

Singapore businesses call for speedy ratification of Trans-Pacific trade deal

The business community here said they welcomed the signing of the Trans-Pacific Partnership, and called for it to be ratified as soon as possible. Until that happens, the full benefits of the deal will not be unlocked, they noted.

Logistics facilities provider GLP posts 64% jump in Q3 earnings

GLP, a global provider of modern logistics facilities, reported a 64 per cent increase in profit after tax and minority interests (PATMI) to US$184 million (S$260.5 million) for the quarter ended Dec 31, from US$112 million a year ago, on the back of higher earnings in China, development gains in Japan and its entry into the US market.

Ascott clinches 7 management contracts, expanding to 4 more cities in region

CapitaLand's wholly owned serviced residence unit, The Ascott, has clinched seven new management contracts, adding over 1,500 apartment units to its portfolio. It has expanded in Bangkok in Thailand, Hanoi in Vietnam, and Petaling Jaya in Malaysia, while venturing for the first time into Bandung in Indonesia, Penang and Shah Alam in Malaysia, and Nha Trang in Vietnam.

Capitaland Retail China Trust sees 4.4% rise in Q4 DPU to 2.59 cents

Capitaland Retail China Trust (CRCT) reported on Thursday (Feb 4) a 4.4 per cent rise in distribution per unit (DPU) to 2.59 Singapore cents for its fourth quarter ended Dec 31, 2015 from 2.48 cents for the year-ago quarter.

Bank of Japan not engaging in currency war with negative rates, says Kuroda

Bank of Japan governor Haruhiko Kuroda said the central bank was not engaging in a currency war by adopting negative interest rates, stressing that the move was aimed at stimulating the economy through lower borrowing costs.

Sharp soars on report it's set to accept Foxconn offer, reject state-backed fund rescue

Shares of Sharp surged after Japanese broadcaster NHK reported it planned to give preference to a rescue plan from Taiwan's Foxconn Technology Group. Sharp said there is no truth to the report that it's decided on such a restructuring.