Bizview: Today's top business stories

A file picture of a container vessel at the Singapore Port. Non-oil domestic exports (NODX) in Singapore grew by a better-than-expected 4.7 per cent year-on-year in June. PHOTO: SPH
A file picture of a container vessel at the Singapore Port. Non-oil domestic exports (NODX) in Singapore grew by a better-than-expected 4.7 per cent year-on-year in June. PHOTO: SPH

Singapore shares rally with Asian markets on Greece parliament vote

Singapore shares rallied in line with most of Asia on news that Greek lawmakers passed a controversial bailout deal that keeps the country in the euro for now and as the European Central Bank weighs whether to pump more money into Greece. The tough austerity measures are a precondition for as much as 86 billion euros (S$130 billion) in aid.

Singapore's non-oil domestic exports up 4.7% on year in June

Non-oil domestic exports (NODX) in Singapore grew by a better-than-expected 4.7 per cent year-on-year in June, on stronger shipments to the US and China, data released by International Enterprise (IE) Singapore on Thursday showed. That topped a 2.0 per cent expansion forecast in a Reuters survey of economists, as both electronic and non-electronic shipments increased in June.

Moody's raises Singapore's banking system outlook from negative to stable

Moody's Investors Service said on Thursday that it has upgraded its outlook for Singapore's (Aaa stable) banking system to stable, reflecting the domestic property market's soft landing, and moderating domestic and cross-border credit growth. The outlook was previously negative since July 2013. Moody's rates all three of Singapore's major banks - DBS Bank, Oversea-Chinese Banking Corporation and United Overseas Bank - as Aa1 stable, aa3.

ADB cuts growth forecasts for Singapore and rest of Asia on slower China, US economies

The Asian Development Bank (ADB) has cut its 2015 and 2016 growth forecasts for Singapore and the rest of Asia, largely as a result of the slower than expected growth in China, the region's largest economy, and in the US and other developed economies. After a slow first half, full-year 2015 growth in China is now estimated at 7.0 per cent, down from a March estimate of 7.2 per cent, and will ease further to 6.8 per cent next year.

Beijing's battle with the bears moves into the futures market

China's index futures traders are still betting jittery markets will fall further even as Beijing tries to prop them up, making the futures markets a key battleground in Beijing's campaign to restore market confidence. Index futures, established in China in 2010, give investors a way to hedge risk, and also provide short-sellers another way to make money in a falling market.