Business leaders can play a key role in the future economy, as they are well-positioned to "spark change and create value", said Minister of Finance Heng Swee Keat on Wednesday. Speaking at the Singapore Business Federation's Semi-Centennial Leadership Conference, he reiterated the need for Singapore to shift from a value-adding econony to value-creating one.
Singapore-listed CapitaLand, South-east Asia's largest property developer, said on Wednesday (Nov 4) it had ceased talks with partners on the potential acquisition of an office tower in Singapore's Central Business District.
British insurance giant Lloyd's of London on Wednesday (Nov 4) officially opened its new expanded offices in Singapore - now its largest hub outside its UK home. The offices, which are located in CapitaGreen in the Central Business District, will house Lloyd's specialist insurance underwriting platform in Singapore, which provides risk solutions across the Asia-Pacific.
The venture capital arm of Singapore's Temasek Holdings is shifting its focus in India to software makers that service small and medium businesses, as it sees the e-commerce sector becoming "overheated" with funds rushing to invest in unprofitable companies.
A private-equity arm of Citic Group Corp has agreed to buy the rest of Singapore-listed medical device maker Biosensors International Group for about S$1.1 billion. Biosensors shares surged as much as 21 per cent to S$0.82 on the news, before trading at S$0.81 as of 9:11 am.
A sharp fall in new business and a slight drop in employment last month has sent business conditions into "near-stagnation", fresh data shows. The Nikkei Singapore Purchasing Managers' Index (PMI) - a proxy for business activity - fell to 50.2 in October, down from a seven-month high of 51.4 in September.
Activity in China's services sector expanded at its fastest pace in three months in October, thanks to stronger new business, a private survey showed on Wednesday (Nov 4), easing concerns over persistent weakness in the economy as the manufacturing sector falters.
Japan Post shares soared more than 16 per cent above their initial public offering price in a long-awaited Tokyo trading debut on Wednesday (Nov 4), after an US$11.5 billion (S$16.04 billion) share sale - the biggest so far this year.
As China's growth sputters, the troubles at Standard Chartered are another bad omen for what were once Asian economic darlings. The bank, which generates most of its income in the region, had gambled on success in emerging markets such as India, which instead saddled the lender with delinquent loans.
Takata shares plunged nearly 20 per cent on Wednesday (Nov 4) after top client Honda dumped it as an airbag supplier following US regulators' move to slap it with a record regulatory fine.