Bizview: Today's top business news

A file picture of an oil refinery located on Singapore's Jurong Island. PHOTO: REUTERS
A file picture of an oil refinery located on Singapore's Jurong Island. PHOTO: REUTERS

Noble shares slump after S&P warns it may cut its debt rating to junk on liquidity concerns

Shares of Noble Group, the commodity trader seeking to preserve its investment-grade status, fell in Singapore on Tuesday (Nov 24) after Standard & Poor's joined Moody's Investors Service in reviewing the company's ratings amid concern about its liquidity.

UOB app enables customers to tap mobile phones for payments

United Overseas Bank has launched a new mobile app that allows customers to turn their mobile phones into electronic wallets that can be used to make contactless payments. It is the first such offering by a bank outside the United States.

Singapore companies' optimism in India on the rise: IE Singapore

Singapore companies are increasingly interested in engaging with India which is making headways in infrastructure and policy reforms to promote foreign direct investment, according to IE Singapore.

Singapore oil borrowers seeking more slack to avoid bond defaults

Borrowers in Singapore, so far spared from a wave of defaults in the oil services industry, are starting to ask creditors to cut them some slack. Three companies including Dyna-Mac Holdings Ltd, part owned by Keppel Corp, this month are asking bond holders to alter certain debt limits or profit targets as contract delays wreck firms' earnings.

JTC launches confirmed list site in Tampines and reserve list parcel in Woodlands

JTC has launched one confirmed list site at Tampines Industrial Drive and one reserve list site at Woodlands Height under the second half 2015 industrial government land sales (IGLS) programme. The 0.41 hectare site at Tampines Industrial Drive (Plot 7) is zoned for Business 2 development and has a 20-year tenure with a maximum permissible gross plot ratio of 1.4.

HSBC said to be planning to cut 2,000 jobs in commercial bank division

HSBC Holdings is eliminating 2,000 jobs in its commercial bank as part of a plan to cut costs, according to a person briefed on the matter. The reductions began last week and are expected to take two years, the person said, asking not to be identified discussing personnel matters.

Ringgit gains on oil rebound, 1MDB asset sale

The Malaysian ringgit led gains among emerging Asian currencies on Tuesday (Nov 24) as a rebound in crude prices eased concerns over the country's falling oil and gas revenues, and as debt-ridden state fund 1MDB agreed to sell US$2.3 billion in assets.

Australia cuts potential GDP growth to 2.75% as population slows

Australia's Treasury lowered its estimate of the economy's potential growth rate, or speed limit, reflecting weaker population growth and fewer hours worked in an economy adjusting to the end of a commodity-price boom.