Bizview: Today's top business news

A panel discussion titled 'China as a challenger AND as part of the existing world order: What does this mean for meeting global challenges' at the FutureChina Global Forum at Shangri-La Hotel on 20 July 2015. Seen at the discussion are (from left to
A panel discussion titled 'China as a challenger AND as part of the existing world order: What does this mean for meeting global challenges' at the FutureChina Global Forum at Shangri-La Hotel on 20 July 2015. Seen at the discussion are (from left to right) Mr Ravi Velloor, The Straits Times Associate Editor, Ms Mari Pangestu, Professor of International Economics, University of Indonesia, Professor Tommy Koh, Ambassador-at-Large for Ministry of Foreign Affairs, Mr Yaseen Anwar, Senior Advisor of Industrial and Commercial Bank of China, Mr Shen Dingli, Professor and Associate Dean at Fudan University's Institute of International Studies, and Mr Li Cheng, Director and Senior Fellow, John Thornton China Centre, Brookings Institution, U.S.

Singapore shares lifted by positive Chinese equities, easing concerns over Greece

A positive lead from Chinese equities following news that the government is pumping money to stem the stock market rout helped lift Singapore shares. Concerns over Greece are easing after the Greek Parliament approved a slew of austerity measures, which was supported by the German Parliament.

US authorities probing Singapore asset manager in offshore tax evasion crackdown:WSJ

Criminal investigators from the US Internal Revenue Service (IRS) are investigating whether a Singapore asset-management firm accepted transfers from undeclared Swiss accounts closed by US taxpayers, the Wall Street Journal reported. Lawyers who spoke to the Journal on the matter declined to name the Singapore firm being probed but said a handful of clients were being questioned about the asset manager.

Vallianz extends charter duration for vessels in new contracts worth up to US$458m

Catalist-listed Vallianz Holdings said Monday that it has signed new contracts worth up to US$458 million (S$628 million) that involve lengthening the charter duration of 19 of its offshore support vessels (OSV) with an existing customer in the Middle East. Currently, the 19 vessels support the offshore oil and gas operations of the customer, which is one of the world's largest national oil companies (NOC).

ST Engineering CEO Tan Pheng Hock on medical leave after mild stroke

Singapore Technologies Engineering (ST Engineering) said on Monday that its president and chief executive officer, Tan Pheng Hock, is on medical leave of absence after suffering a mild stroke and being admitted to hospital for observation. The duration of his medical leave could be about four weeks pending doctors' review of his condition and recommendations, company said in a filing with the Singapore Exchange.

Singaporeans expect headline inflation to inch up to 3.35% in a year's time

Despite weaker oil prices and China's economic slowdown, Singaporeans expectations of future inflation have gone up, a quarterly survey by the Singapore Management University (SMU) showed. The results of its June survey showed that the one-year-ahead expected headline inflation (or CPI-All Item inflation) climbed to 3.35 per cent from the record low of 3.05 per cent expected in March.

NOL says not made any decision on company's potential sale, shares jump

Neptune Orient Lines (NOL) said it has not made any decision on a potential sale of the company, nor entered into any agreement, after media reports that Temasek Holdings had put the shipping company up for sale. Its shares jumped as much as 10 per cent to a six-week high after trading on the Singapore Exchange opened on Monday. The counter was trading at 94 cents, up 6.5 cents or 7.4 per cent, at around 10:45am.

China "will maintain 7% growth rate" say speakers at Singapore forum

The vice chairman of a Chinese political advisory body and a dean at Peking University were upbeat on China's growth story in Singapore on Monday. Both Mr Tung Chee Hwa, who was Hong Kong's first chief executive and now a vice chairman of the Chinese People's Political Consultative Conference, and Mr Justin Lin, professor and honorary dean at the National School of Development of Peking University, maintained that China's economy could continue to grow by 7 per cent annually.