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