SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.
1. DBS net profit for third quarter up 17%, beating expectations, on broad-based growth. Singapore's biggest bank said its net profit for the third quarter ended Sept 30, 2014 surged 17 per cent to $1 billion from 862 million a year ago. For the nine months, net profit rose to a record $3.21 billion, including net one-time gains of $198 million.
2. Singapore total bank lending flat in September. Total bank lending in Singapore barely changed in September from August as loans to financial institutions rose, offsetting falls in lending to manufacturing, building and construction, central bank data showed on Friday.
3. Japan to approve doubling domestic stocks to 25% in world's biggest pension fund. Japan's government will approve allocation targets for the world's biggest pension fund which aim to raise the portion of Japanese shares to 25 per cent of its portfolio from the current target of 12 per cent, two government sources said.