Bizview: Today's top business news

Japan Post Bank president Masatsugu Nagato rings a bell during the ceremony for the company's listing at the first sector of the Tokyo Stock Exchange on November 4, 2015. Japan Post made its long-awaited trading debut in Tokyo after an initial public
Japan Post Bank president Masatsugu Nagato rings a bell during the ceremony for the company's listing at the first sector of the Tokyo Stock Exchange on November 4, 2015. Japan Post made its long-awaited trading debut in Tokyo after an initial public offering (IPO) that topped 11.5 billion USD. PHOTO: AFP

Business leaders can play key role in Singapore's future economy: Heng Swee Keat

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.

CapitaLand scraps talks to acquire Asia Square Tower 1

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.

Lloyd's of London expands Singapore office to its largest hub outside Britain

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.

Temasek seeks cloud start-ups in India as e-commerce sector becomes 'overheated'

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.

Citic to buy rest of Biosensors in S$1.1b deal, shares jump

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.

Nikkei Singapore PMI signals 'near-stagnation' in business activity

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.

China October services activity climbs to 3-month high: Caixin PMI

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 soar 16.5% above IPO price in trading debut

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.

Standard Chartered's bad loans show cracks in Asia economies

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 plunge 20% as Honda dumps it as airbag supplier after record US fine

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.