STI closes 0.6% down as negative sentiment ruled markets over China data, US Fed rates

Negative sentiment over the latest slew of soft Chinese economic data and uncertainty over whether the US Federal Reserve will raise rates this week sidelined investors, while the ruling party's landslide victory didn't translate into optimism for local shares.

DBS says to wind down Islamic banking unit

DBS Group Holdings, Singapore's biggest lender, said on Monday it would slowly wind down its Islamic banking unit as it failed to achieve economies of scale. DBS said it would continue to develop and distribute Shariah compliant products such as Islamic bonds or Sukuk, within the bank's main operations.

16 local business leaders named Entrepreneurs of the Year

Founder of home-grown hairdressing chain and haircare product maker Bee Choo origin was named Entrepreneur of the Year together with 15 other local business leaders on Monday (Sept 14). Madam Cheah Bee Chew, 55, was also one of three women entrepreneurs lauded at the award co-organised by the Association of Small and Medium Enterprises (ASME) and the Rotary Club of Singapore.

SuperBowl Jurong put up for sale at indicative price of $20m

SuperBowl Jurong is up for sale with an indicative price of S$20 million. Colliers International in a release on Monday (Sept 14) invited interested parties to submit their offer for the entertainment complex at 1 and 3 Yuan Ching Road.

Mercator Lines creditor applies for company to be placed under judicial management

Indian-owned dry bulk shipping company Mercator Lines (Singapore) Ltd announced on Monday (Sept 14) that a creditor, the Singapore branch of HSH Nordbank AG, had on Sept 10 filed an application to the Singapore High Court for the company to be placed under judicial management. The application has been fixed for hearing on Sept 29.