Australia’s crackdown on foreign property buyers reaps results
PERTH - A crackdown on foreign investors who breach Australian law barring purchases of existing homes is reaping results a month after new penalties and a temporary moratorium were announced, the...
View ArticleValue seen in US prison stocks even as REITs lose favour
NEW YORK - Could prison stocks be poised for a breakout?The small and controversial sector of for-profit prison companies, which operate as real estate investment trusts (REITs), have been under...
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CASE reports highest number of mediation cases in motorcar industry
SINGAPORE - Mediation between consumers and motorcar businesses were the most common in 2014, the Consumers Association of Singapore (CASE) said on Tuesday.The association said that cases involving the...
View ArticleChina consumer inflation falls to 1.2 per cent in May
BEIJING - Chinese inflation fell to 1.2 per cent in May, data showed Tuesday, as Beijing struggles to boost consumer spending while analysts tipped further stimulus measures on top of the three...
View ArticleAustralia widens probe into illegal home buying by foreigners
SYDNEY - Australian Treasurer Joe Hockey on Tuesday widened a probe into the illegal buying of residential property by foreigners, with almost 200 sales being investigated for breaching investment...
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Meet the Chinese firm that paid $3.18m for Warren Buffet
China's rampaging share market has produced a new kind of winner - the boss of Dalian Zeus Entertainment Group, who used his stock quote as inspiration for a bid to dine with Warren Buffett, and...
View ArticleAsian markets mostly down, euro picks up
HONG KONG - Most Asian markets edged down Tuesday, with Shanghai and Hong Kong hit by another weak batch of indicators, but the euro was supported by upbeat German trade data.Wall Street provided a...
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3 common lies about money Singaporeans say openly in public
Eavesdrop on a conversation between two Singaporeans and you might discover a few shocking things.Other than casual racism, people seem to be totally okay with openly talking about things like their...
View ArticleHSBC to cut up to 50,000 jobs, slash investment bank
HSBC will cut almost 50,000 jobs from its payroll, take an axe to its investment bank and shrink its risk weighted assets by US$290 billion (S$393.5 billion) in an effort to improve its sluggish...
View ArticleMalaysian state fund 1MDB may scrap $4b power IPO
KUALA LUMPUR - Malaysian state investment fund 1MDB is likely to abort plans for a US$3 billion (S$4 billion) IPO of its power unit and focus on an outright sale of its energy assets, three people with...
View ArticleMarks & Spencer exploring launch of "Sparks" loyalty card
LONDON - British retailer Marks & Spencer is looking into launching a card-based loyalty programme, provisionally called "Sparks", for its customers this year, a person familiar with the matter...
View ArticleSingapore Exchange aims to develop new LNG, oil products
LONDON - The Singapore Exchange Ltd aims to expand in the energy sector and is considering creating a global market in spot liquefied natural gas (LNG) trading as well as an Asian benchmark for crude...
View ArticleAlibaba’s Ma, visiting New York, says not in America to compete
NEW YORK - Chinese e-commerce titan Alibaba Group Holding Ltd does not want to fight for US market share but instead hopes to help small US businesses sell more goods in China, Executive Chairman Jack...
View ArticleAfrican leaders to unveil new common market bloc
SHARM EL SHEIKH - The leaders of 26 African countries gathered in Egypt Wednesday to sign a new trade pact to create a common market across half the continent that will serve 625 million people.The...
View ArticleEU business confidence in China at new low: survey
BEIJING - European companies are losing confidence in China's economy, a lobby group survey said on Wednesday, with many firms planning to lay off staff as Beijing struggles to boost growth and embarks...
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S'pore staff awaiting update on job cuts
SINGAPORE staff of HSBC have yet to learn if they will be spared the huge job cuts being undertaken at the global bank.There is some hope that the axe will fall less heavily on the operations here,...
View ArticleIndonesia looks to new roadmap for Islamic finance boost
JAKARTA - Indonesia's capital market regulator has published a five-year strategy for the Islamic finance industry, its latest effort to shake the sector out of its niche status in the world's most...
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3 reasons why banks are rejecting your home loan
Rejection is one of the worst feelings in the world, especially when you dedicate yourself to accomplishing one of your dreams.You might be working up the courage to ask a girl out, putting in extra...
View ArticleJapanese insurer Tokio Marine to buy US-based HCC for $10.1 billion
TOKYO - Tokio Marine Holdings has agreed to buy US-based HCC Insurance Holdings for $7.5 billion (S$10.1 b), the firms said Wednesday, the latest overseas acquisition by a Japanese firm to counter a...
View ArticleHong Kong stocks weak on Greek debt, US rate and local vote concerns
Hong Kong stocks fell on Wednesday as investors remained cautious over Greek debt talks, the prospects of a US rate hike and uncertainty surrounding a politically sensitive local vote next week.The...
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