Bizview: Today's top business news

STI jumps 43 points as investors across Asia ride Tokyo-led optimism

Investors here rode a wave of Tokyo-led optimism that swept across regional markets on Wednesday, as Singapore shares posted gains for the second straight day. The benchmark Straits Times Index (STI) jumped 42.86 points, or 1.49 per cent, to 2,928.18.

Private home rents slip 0.4% in August, HDB rents drop 0.6%: SRX Property

Rents for non-landed private homes continued to weaken in August, dropping by 0.4 per cent compared with July, according to flash estimates released by SRX Property on Wednesday (Sept 9). There was no revision for the earlier estimate of a 0.3 per cent drop in rents in July.

Singapore parents underestimate cost of an overseas university education: HSBC

The majority of parents in Singapore are thinking of sending their children abroad for university but are underestimating what this costs, according to a report by HSBC released on Wednesday (Sept 9).

ICE to launch Singapore futures and clearing house on Nov 17

Intercontinental Exchange (ICE), the leading global network of exchanges and clearing houses, is set to launch its Singapore futures and clearing house on Nov 17. ICE, which also owns the New York Stock Exchange, announced in a release on Wednesday (Sept 9) that it expects to trade and clear five new contracts in its first tranche, subject to final approval by the Monetary Authority of Singapore (MAS).

Manulife nears $569 mln deal to buy StanChart's HK pension business

Canadian insurer Manulife Financial Corp is nearing a deal to buy British bank Standard Chartered's Hong Kong pension business for about US$400 million (S$569 million) in an attempt to narrow the gap with its leading rival, people familiar with the matter said.

China changes GDP data calculation method to improve accuracy

China's statistics bureau said on Wednesday (Sept 9) it has changed the way quarterly gross domestic product (GDP) data is calculated, a move it calls a step to adopt international standards and improve the accuracy of Chinese numbers.

Tencent is Asia's biggest after Alibaba slides by $200 bln in market value

Alibaba Group Holding Ltd. surrendered the title of Asia's largest Internet company to Tencent Holdings Ltd., capping a 10-month slide for the e-commerce giant that wiped US$140.7 billion (S$200 billion) from its market value.

China-led infrastructure bank AIIB to grow to 70 members 'soon'

The fledgling Asian Infrastructure Investment Bank's membership will increase by about a fifth to 70 "soon", the president-designate of the China-backed bank said. "We do have quite a number of countries waiting outside to join," said Mr Jin Liqun, speaking in Seoul on his first overseas visit since becoming the bank's president-designate.