Latest Reporting by Straits Times — Business
20 Stories IndexedBOJ chief signals chance of September rate hike, debate on price risks
The Bank of Japan's governor indicated a possible interest rate increase in September, citing concerns over rising inflationary pressures. The central bank will assess whether current economic conditions warrant tighter monetary policy to address price risks.
A potential rate hike by the Bank of Japan could signal a shift in global monetary policy and impact financial markets, particularly in Asia.
Economists raise Singapore’s 2026 growth forecast to 5% on AI boom: MAS survey
Respondents also raised their predictions for manufacturing and non-oil domestic exports.
Bond sell-off deepens as inflation, oil prices jolt markets
Global bond markets experienced a significant decline as rising oil prices and persistent inflation concerns heightened market volatility. The escalation of the Middle East conflict contributed to increased energy costs, exacerbating investor anxiety over economic stability.
10 luxury apartments linked to $3 billion money laundering case on Sept 23 auction block
Ten high-end apartments in Singapore’s River Valley and Tanjong Pagar districts are being auctioned as part of a $3 billion money laundering investigation. The properties are linked to a case involving multiple individuals accused of financial crimes. The auction aims to recover proceeds from alleged illicit activities.
Gold hits over 3-week low as Middle East tensions fan rate-hike fears
Gold prices dropped to their lowest level in over three weeks amid rising concerns over Middle East tensions and expectations of continued high interest rates, which strengthen the US dollar and reduce demand for non-yielding assets like gold. The stronger dollar makes gold more expensive for foreign buyers, further pressuring prices.
Asian markets tumble as US-Iran fighting lifts oil and bond yields
Asian financial markets experienced a sharp decline following a surge in oil prices and bond yields, triggered by escalating tensions between the US and Iran. The sell-off in global markets extended into the region, reflecting investor concerns over geopolitical instability and its economic ripple effects.
Taiwanese borrow to buy stocks in AI-fuelled frenzy
Taiwanese investors are increasingly borrowing money to invest in the stock market, driven by enthusiasm for artificial intelligence-related stocks. The trend reflects growing confidence in AI-driven sectors despite rising debt levels. Brokers report higher demand for margin trading as retail investors seek exposure to perceived high-growth opportunities.
Apple sets pay targets at $73 million for John Ternus, $59 million for Tim Cook
Apple disclosed executive compensation targets for John Ternus and Tim Cook in a recent SEC filing. Ternus, a senior executive, has a pay target of $73 million, while Cook, the CEO, has a target of $59 million. The figures reflect performance-based incentives tied to company goals.
Goldman Sachs, BofA and others plan to issue dollar stablecoin together in 2027
Major financial institutions including Goldman Sachs and Bank of America are collaborating to launch a dollar-pegged stablecoin by 2027, aiming to streamline cross-border transactions and reduce reliance on traditional payment systems. The initiative reflects growing institutional interest in blockchain-based financial tools. Regulatory and technical hurdles remain before implementation.
Asian banks cautiously restart Gulf lending despite Iran risks
Asian banks have resumed lending to Gulf borrowers in August, despite ongoing geopolitical risks linked to Iran. The cautious resumption of financing follows a period of reduced activity, signaling renewed confidence in regional economic stability. Lenders are balancing potential rewards with heightened security concerns in the region.
Frasers Property to redevelop Yishun 10 into mixed-used complex by mid-2031
Frasers Property has announced plans to redevelop the Yishun 10 site in Singapore into a mixed-use complex, with residential units expected to launch by mid-2031. This marks the first residential development in Yishun Central in over ten years, signaling renewed interest in the area's urban renewal. The project aims to integrate residential, commercial, and possibly recreational spaces.
Semiconductor firm UMC spends $6.4 billion on new Singapore fab for a stake in AI boom
Taiwanese semiconductor manufacturer UMC is investing $6.4 billion to build a new fabrication plant in Singapore, doubling its skilled workforce to meet rising demand. The expansion aims to capitalize on growth opportunities in the AI sector, which is driving increased demand for advanced chips.
Wall Street ends lower as higher yields, rising oil prices mark shaky start to September
The Dow Jones Industrial Average fell 413.41 points, or 0.78 per cent, to 52,772.49.
Retailer sues interior design firm for $463,000 over delays in store opening, awarded $500
The judge said the project was followed by an “unfortunate” breakdown in the companies’ relationship.
Tenants mull over future plans after sudden news of Marina Square closure
Tenants were informed of the mall’s impending closure on Sept 1.
Shopee appliance seller sues customer over bad review – and loses
The judge said Asia Excel had failed to establish how the reviews were defamatory in nature.
Euro zone inflation flares, all but sealing September ECB hike
Another quarter-point hike by the ECB on Sept 10 is now fully priced by markets.
Jollibee picks Hong Kong over US for international unit listing
Jollibee Foods Corp. has decided to list its international unit in Hong Kong rather than the United States. The company says Hong Kong is a natural market due to its strong presence across Asia. The move reflects a strategic choice to tap regional investors. It aims to raise capital and increase visibility in Asian markets.
As Singaporeans live longer, can their retirement savings and investments keep pace?
Target-date funds can be one way to enhance retirement savings and financial security.
Ikea invests $1.8 billion in Europe price cuts to lure cautious consumers
The move comes after two consecutive years of falling revenue.