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  • Singapore transport company's profit strengthened by non-rail business

    SINGAPORE -- Net profit for 2016 at Singapore's state-linked transport operator SMRT climbed 20.1% on the year to 109.2 million Singapore dollars ($81.4 million), due to better performance in the company's non-rail operations, including income from

    April 29, 2016 09:18 pm JST
  • OCBC suffers 14% drop in Q1 profit on bad loan provisions

    SINGAPORE -- Oversea-Chinese Banking Corp. announced a 14% drop in net profits for the first quarter ended March, compared with the same period last year. The result was worse than expected, due to swelling provisions for non-performing loans.Net pr

    April 29, 2016 08:30 pm JST
  • Oil prices hit fresh 2016 highs on weak dollar, US output fall

    SINGAPORE (Reuters) -- Oil prices edged to new 2016 highs on Friday, lifted by a weak dollar and falling production in the United States, although a looming rise in Middle East output capped gains.Brent crude futures were trading at $48.30 a barrel

    April 29, 2016 06:16 pm JST
  • OSIM nears completion of buyout

    SINGAPORE -- OSIM International chief executive Ron Sim has garnered enough shares to take the Singapore-listed massage chair company private, making the proposed buyout almost a done deal.Vision Three, the Sim investment vehicle conducting the take

    April 29, 2016 03:00 pm JST
  • Yen hits 18-month peak, stays firm after BOJ skips easing

    SYDNEY/SINGAPORE (Reuters) -- The yen set an 18-month high against the dollar on Friday, staying firm in the wake of the Bank of Japan's decision the previous day to hold off from expanding its monetary stimulus.The dollar's drop gained momentum aft

    April 29, 2016 02:28 pm JST
  • Singapore's traditional stronghold for bookworms

    SINGAPORE -- While Singapore's traditional media may be declining, a small but growing group of book lovers in the city is keeping demand for printed matter alive.Tucked among Singapore's distinctive shophouses is a cozy little book cafe. It is a cu

    April 29, 2016 01:00 pm JST
  • Yen hits 18-month high versus dollar, stays firm after BOJ skips easing

    SINGAPORE (Reuters) -- The yen surged to an 18-month high against the dollar on Friday, staying firm in the wake of the Bank of Japan's decision the previous day to hold off from expanding monetary stimulus.The dollar fell to as low as 107.075 yen a

    April 29, 2016 11:06 am JST
  • In Singapore, Visa opens first Asian payment innovation lab

    SINGAPORE -- Visa on Thursday opened an innovation center in Singapore to develop next-generation payment methods for the Asian market. In a world where smartphones are rapidly changing the way people pay, the U.S. company aims to cement its leading

    April 29, 2016 09:00 am JST
  • Astra International slips on weak equipment, auto sales

    SINGAPORE -- Astra International shares have slid for three days straight on the Indonesian market under the weight of sluggish vehicle and machinery sales in the January-March quarter.The Indonesian conglomerate shed 1.47% Thursday to close at 6,72

    April 28, 2016 11:45 pm JST
  • UOB profit declines 4.4% on lower trade and wealth management revenue

    SINGAPORE -- United Overseas Bank (UOB) posted a net profit of 766 million Singapore dollars ($567 million) for the first quarter ended in March, down 4.4% from the corresponding period a year ago. Despite a rise in net interest income, the bottom l

    April 28, 2016 05:50 pm JST
  • New framework to facilitate mutual fund sales across Asia-Pacific

    TOKYO -- Japanese financial institutions will be able to offer mutual funds in other Asian markets without undergoing often lengthy approval procedures under a proposed region-wide legal structure. Slated to come into effect around the end of 20

    April 28, 2016 02:50 am JST
  • Cebu Air's passenger volume up 13% in first quarter

    SINGAPORE -- Cebu Air carried 4.8 million passengers in the January-March quarter, a 13% increase from a year earlier, the company announced Wednesday. The operator of the Philippines' largest budget carrier, Cebu Pacific Air, said that passenge

    April 28, 2016 01:38 am JST
  • SingTel launches Cyber Security Institute

    SINGAPORE -- Singapore Telecommunications (SingTel) expects to improve awareness of cyber security at its new facility among companies in Asia-Pacific increasingly exposed to cyber crime. The 900-sq.-meter Cyber Security Institute (CSI), the lar

    April 27, 2016 10:00 pm JST
  • Commentary

    George Magnus: Managing Asia's debt problem

    The Bank of Japan's interest rate setting meeting on April 28 is the focus of attention this week for many central bank watchers. For the rest of us, it is of fleeting significance: There is as much likelihood of monetary policy sparking a revival o

    April 27, 2016 07:00 pm JST
  • Singapore's DBS launches mobile-only bank in India

    SINGAPORE -- DBS Group Holdings launched a new mobile-only bank in India, marking the Singapore bank's entry to the gigantic retail banking market in an innovative, cost-efficient way. The new banking service, dubbed "digibank by DBS," was annou

    April 27, 2016 06:51 pm JST
  • Widodo in 'host mode' affirms Jakarta's ASEAN commitment

    JAKARTA -- Indonesian President Joko Widodo was in a jovial mood on April 26 as he greeted a group of senior editors from Association of Southeast Asian Nations countries at his presidential palace and ushered them in to lunch. The buffet "worki

    April 27, 2016 03:00 pm JST
  • Japanese oil majors boost gasoline, diesel exports

    TOKYO -- Japanese oil companies are increasing exports of petroleum products to Asia, hoping to offset sluggish domestic demand by cultivating customers in countries such as Singapore where demand is growing. Idemitsu Kosan exported 400,000 kilo

    April 27, 2016 03:20 am JST
  • Malaysian market wrap

    Shares plunge, ringgit slides on 1MDB default

    KUALA LUMPUR (NewsRise) -- Malaysian shares ringgit chalked their worst single-day percentage loss in over three months Tuesday and the ringgit slipped, as a default by state investment fund 1Malaysia Development on its interest payment further sour

    April 26, 2016 07:37 pm JST
  • Commentary

    Kavi Chongkittavorn: New Lao leader in ASEAN driving seat

    The emergence of Thongloun Sisoulith as the new leader of the People's Democratic Republic of Laos augurs well for the country's chairmanship of the 10-country Association of Southeast Asian Nations this year. Thongloun, who was elected prime mi

    April 25, 2016 07:00 pm JST
  • Raffles Medical Group eyes expansion into Chinese cities

    SINGAPORE -- Singapore's leading private medical provider, Raffles Medical Group, is seeking opportunities to open hospitals and medical centers in China's top cities. "In the next couple of years, you will see us growing to more cities in China

    April 25, 2016 04:30 pm JST