Bizview: Today's top business news

1 in 7 of smaller Singapore SMEs have no business insurance, survey finds

Small and medium enterprises (SMEs) in Singapore remain underprepared for dealing with significant business risks and threats, according to a survey by global insurer QBE. Its research revealed that as many as one in seven smaller SMEs do not have any business insurance at all.

China slowdown sinks Asia sentiment to 4-year low with Singapore most pessimistic: Survey

Sentiment at some of Asia's biggest firms deteriorated again in the fourth quarter, falling to a four-year low under the weight of concerns about slowing growth in China, the region's biggest economy, a Thomson Reuters/Insead survey showed.

URA releases detailed conditions for sale of white site at Central Boulevard

The Urban Redevelopment Authority (URA) on Wednesday (Dec 16) released the detailed sales conditions for a "white site" plot at Central Boulevard that is expected to garner keen interest from developers.

Singapore-based hedge fund closes after failing to attract investors

Piquant Capital Pte is shutting its quantitative hedge fund as it failed to attract investor money after making a loss in 2014, the firm's chief investment officer said.

Yoma in tie-up to distribute Mitsubishi cars in Myanmar

Mainboard-listed Yoma Strategic Holdings announced on Wednesday (Dec 16) a 50:50 joint venture with Mitsubishi Corp to distribute the Japanese cars in Myanmar. The joint venture company, MM Cars Myanmar Ltd, will be responsible for the distribution (wholesale), retail sales, after-sales services, and maintenance services of Mitsubishi cars and spare parts.

Noble shares jump on advanced talks to sell rest of agri-business

Shares of Singapore-listed Noble Group jumped when trading opened on Wednesday (Dec 16) after Asia's largest commodities trader said that it was in advanced talks to sell the rest of its agriculture unit, potentially bolstering its drive to raise cash and avoid a credit-rating cut to junk.

Prada shares hit record low after profit plunges 38% on China woes

Shares of Prada plunged 6.4 per cent on Wednesday (Dec 16) after the Italian luxury goods maker posted a 38 per cent plunge in quarterly profit to 46.5 million euros (S$71.6 million), weighed down by slumping sales in Greater China as economic growth slowed.

Genting HK to sell 2.3% stake in Norwegian Cruise Lines for S$20.4 million net gain

Genting Hong Kong said on Wednesday (Dec 16) that it plans to sell a 2.3 per cent stake in Norwegian Cruise Lines Holdings (NCLH) for about US$148.25 million (S$208.5 million). The sale will result in a gain of US$14.5 million (S$20.4 million) for the leisure and gaming company, with proceeds to be used for working capital and to fund new investments should opportunities arise, it said.

China's economic growth rate seen falling until at least 2018

China's economy, already in the midst of a half-decade deceleration, won't arrest its downward trajectory until at least 2018. Six of 12 economists surveyed by Bloomberg last week say 2018 will be the turnaround year, while five said it will take until 2019 or after for growth to re-accelerate.