Bizview: Today's top business news

A file picture of British Prime Minister David Cameron (L) and Chinese President Xi Jinping during a visit to the City Football Academy in Manchester. Chinese investors China Media Capital (CMC) and CITIC Capital have bought a 13 per cent stake in th
A file picture of British Prime Minister David Cameron (L) and Chinese President Xi Jinping during a visit to the City Football Academy in Manchester. Chinese investors China Media Capital (CMC) and CITIC Capital have bought a 13 per cent stake in the parent company of Manchester City Football Club. PHOTO: AFP

Business sentiment at lowest point in past three years says survey

Businesses are more pessimistic than at any time in the past three years, according to a survey out on Tuesday. It found that 56 per cent of businesses cited global economic uncertainty as the main challenge facing them in 2016 while 21 per cent pointed to higher costs.

Analysts give their views on yuan's entry into IMF SDR basket

China scored an economic milestone with the International Monetary Fund's decision on Monday to include China's yuan, or renminbi (People's currency), in its Special Drawing Rights (SDR) basket.

SPH Reit appoints lawyer Rachel Eng as new board director

Ms Rachel Eng has been appointed as an independent non-executive board director of SPH Reit Management (SPHRM) with effect from Tuesday (Dec 1). Ms Eng, 47, is the joint managing partner of WongPartnership LLP, and a board member at StarHub, Certis Cisco Security, PUB and Singapore Accountancy Commission.

UOB launches payroll solution to help small businesses comply with employment act

With the help of a new payroll service launched by United Overseas Bank Limited (UOB), small businesses can meet key amendments to the Singapore's Employment Act. The service will enable businesses to issue itemised payslips and key employment terms to employees, UOB said in a statement on Tuesday (Dec 1).

Trade agency IE Singapore's chief Teo Eng Cheong to step down on Dec 31

Trade agency IE Singapore will have a new chief executive officer in the new year, after it said that its current head will step down.

CMA CGM said to seek financing for Neptune Orient takeover

CMA CGM SA, the world's No. 3 container shipping company, is in talks with lenders to finance its potential takeover bid for Singapore's Neptune Orient Lines Ltd., people with knowledge of the matter said.

New Australian investment rules crack down on illegal foreign ownership of properties

Australia put into force a robust new investment regime on Tuesday (Dec 1) cracking down on foreigners who unlawfully own residential properties and tightening scrutiny on purchases of farmland from overseas.

Manchester City owner gets $565 million from Chinese buyers

A Chinese consortium led by China Media Capital Holdings is investing US$400 million (S$564.7 million) in the Abu Dhabi- based company that owns Manchester City Football club, the top- ranked English Premier League team.

Saudi developer secures funds to complete world's tallest tower

The Saudi developer behind plans for the world's tallest building said on Sunday it had secured financing to complete the record-breaking project. Kingdom Holding Co, chaired by billionaire Saudi Prince Alwaleed bin Talal, said its affiliate Jeddah Economic Company had reached a more than US$2 billion (S$2.8 billion) financing deal with Saudi Arabia's Alinma Investment to finish the Jeddah Tower in the Red Sea city.