Bizview: Today's top business news

Singapore manufacturing shrinks 7% in August as output falls for 7th straight month

Factory output contracted for the seventh consecutive month in August, performing worse than private-sector forecasters had tipped. The latest manufacturing data, which showed output sliding 7 per cent last month over the same period a year ago, came in way below the 5.3 per cent decline forecast by economists in a Bloomberg poll.

DBS to buy US$250m stake in Postal Savings Bank of China: Sources

Postal Savings Bank of China Co., which has the most outlets of any lender in the nation, is nearing an agreement to raise more than US$6.5 billion (S$9.25 billion) from investors ahead of a planned initial public offering, people familiar with the matter said.

Frasers Hospitality expands in Europe with launch of German, Spain properties

Frasers Hospitality, the hospitality arm of mainboard-listed Frasers Centrepoint, has forayed into two new markets in Europe as part of its aggressive growth plans. The global hospitality operator launched on Thursday (Sept 24) its first property in the city of Frankfurt - the 153-unit Capri by Fraser, Frankfurt, which joins six other properties under the company's Capri brand of hotel residences.

Competition Commission of Singapore seeks public feedback on changes to guidelines

The Competition Commission of Singapore (CCS) is seeking public feedback on proposed changes to its guidelines which outline how CCS will administer and enforce provisions under the Competition Act.

China capital outflows hit record S202b in August on yuan weakness

Money is leaving China faster than ever, according to a Bloomberg gauge tracking capital flows. An estimated US$141.66 billion (S$201.7 billion) left China in August, exceeding the previous record of US$124.62 billion in July, data compiled by Bloomberg show.

US dollar gains as Fed chief Yellen revives rate talk

Asian shares slumped on Friday (Sept 25), while the US dollar firmed after Federal Reserve Chair Janet Yellen suggested the central bank is still on track to raise interest rates later this year.

Japan govt downgrades economic outlook; highlights risks from China, US rate hike

Japan's government lowered its economic assessment and highlighted risks posed by China and a US interest rate hike, adding to signs that a shock from overseas could hurt Japan's outlook.