Bizview: Today's top business news

Costa Rhu condominium in Tanjong Rhu area. Condominium and apartment prices dropped by 0.6% in October.
Costa Rhu condominium in Tanjong Rhu area. Condominium and apartment prices dropped by 0.6% in October.ST PHOTO: MATTHIAS HO

Resale prices of condos and apartments drop 0.6% in October, but volume up 10%

Resale prices of non-landed private homes slipped 0.6 per cent last month from September, according to SRX Property's flash estimates released on Wednesday.The fall came on the back of a revised 0.3 per cent fall in September, bigger than the estimated 0.1 per cent dip flagged earlier. From October last year, resale prices have fallen 2.6 per cent - and 7.6 per cent below the recent peak in January last year.

Nearly half of Singapore SMEs see no growth in sales this year: Survey

The latest annual SME Development Survey showed that 47 per cent of respondents do not expect any turnover growth this year, while 6 per cent will see sales decline.The survey, conducted by DP Information Group, also showed a record 68 per cent of SMEs have invested in technology and innovation.

Shipbuilder Vard sinks deeper into red as Q3 losses widen to S$80m

Shipbuilder Vard Holdings sank deeper into the red as third-quarter losses widened to 486 million Norwegian kroner (S$80.2 million). This is far worse than the net loss of 37 million kroner the firm logged in the same period a year ago.

Revenue for the three months to Sept 30 fell 19 per cent to 2.27 billion kroner, due to reduced activity at some of the European shipyards amid a prolonged industry down-cycle

China factory output, investment sluggish as old economy slows

China's industrial production and investment slowed further in October, showing the government's pro-growth measures are yet to revive the nation's old economic engines. Retail sales defied the weakness, rising more than economists forecast.Industrial output rose 5.6 per cent in October from a year earlier, the National Statistics Bureau said on Wednesday (Nov 11), below the 5.8 per cent median estimate of economists surveyed by Bloomberg and compared with September's 5.7 per cent.

Alibaba smashes Singles' Day record, passing S$12.8b in sales by midday

Mr Jack Ma took Alibaba on the road to Beijing in search of a new Singles' Day sales record, and it worked.Transactions on this year's event passed 57.1 billion yuan (S$12.8 billion) before midday, eclipsing the 2014 mark with another 12 hours still to go. Alibaba moved the base for its annual shopathon to the former Olympic aquatics centre in the capital as Mr Ma tries to reverse the company's US$55 billion plunge in market value.