bloomberg.com Archives - 28 May 2016, Saturday

  • Singapore Property Closer to Bottom Than Hong Kong, LaSalle Says - Bloomberg

    Singapore Property Closer to Bottom Than Hong Kong, LaSalle Says

    bloomberg.com 26 May '16, 11pm

    Singapore’s property market may be closer to a bottom than Hong Kong, according to LaSalle Investment Management, which manages more than $58 billion in real estate funds. Governments in Asia’s two most expensive residential markets have imposed curbs in recent years to tame prices an...

  • Singapore Exchange Buys Flashy London Address - Bloomberg Gadfly

    bloomberg.com 26 May '16, 6am

    What does Singapore's bourse hope to get out of its takeover of the Baltic Exchange? On the face of it, a lot. Faced with stagnating revenues from its securities business, Singapore Exchange has been looking to diversify its revenue base. But since its attempt to purchase Australia's ...

  • business: JUST IN: Singapore first quarter GDP grows an annualized 0.2%

    Singapore’s Economy Expands Faster Than Earlier Estimated -

    bloomberg.com 25 May '16, 12am

    Singapore’s first-quarter economic growth was faster than the government earlier predicted, providing some relief for the trade-oriented nation as it faces sluggish global demand. Gross domestic product expanded an annualized 0.2 percent from the previous three months, the Ministry of...

  • Singapore Shows Spine in Bank Shutdown - Bloomberg Gadfly

    bloomberg.com 24 May '16, 8am

    Take the achievements. First, the MAS has given itself a leg-up over regulators in the U.S., Switzerland, Hong Kong, Luxembourg and Malaysia, which are also investigating a multibillion-dollar financial scandal surrounding 1MDB, the troubled Malaysian state fund whose advisory board h...

  • via @business

    Singapore Orders BSI Bank to Shut Down Amid 1MDB Probe

    bloomberg.com 24 May '16, 4am

    Singapore’s central bank, which is probing possible money laundering related to a troubled Malaysian state fund, ordered BSI Bank Ltd. to shut down its operations in the island nation. The Monetary Authority of Singapore served BSI Bank a notice of intention to withdraw its status as ...

  • Hong Kong Gaming Tycoon Ho Buys Prime Singapore Hotel Plot

    bloomberg.com 24 May '16, 1am

    Hong Kong gaming tycoon Stanley Ho has bought a prime land site off Singapore’s famed Orchard Road shopping belt, in the first transaction of a redevelopment site for a hotel in this location in more than a decade. Shun Tak Real Estate (Singapore) Pte, a subsidiary of Hong-Kong-listed...

  • via @business

    Empty Stores Multiply as Singapore No Longer Shoppers’ Paradise -

    bloomberg.com 23 May '16, 9pm

    Empty storefronts in Singapore’s prime shopping district may become a more common sight. Vacancies in the city’s main Orchard Road area, a magnet for tourists lured by malls and Japanese department stores such as Takashimaya, have risen to a five-year high and across the island, they’...

  • Aussie Bonds Set to Lose Highest-Yielding AAA Spot to Singapore

    Aussie Bonds Set to Lose Highest-Yielding AAA Spot to Singapore

    bloomberg.com 23 May '16, 5pm

    Australia will lose its place as the highest-yielding AAA bond market to Singapore if the South Pacific market’s rally sustains its current pace. Aussie 10-year yields have tumbled almost 60 basis points this year, driven by a weaker-than-expected inflation report that prompted the ce...

  • LendingClub Climbs After Singapore Investors Boost Holdings

    bloomberg.com 23 May '16, 3pm

    LendingClub Corp., the online loan pioneer working to shore up investor confidence since the surprise resignation of its chief executive officer on May 9, climbed in New York trading after a Singapore-based investor disclosed a stake of as much as 11.7 percent. LendingClub shares gain...

  • Here's One Way of Saving the Winklevoss Twins' Bitcoin ETF Dream

    Here's One Way of Saving the Winklevoss Twins' Bitcoin ETF Dream

    bloomberg.com 23 May '16, 12pm

    The Winklevoss twins seem to have the best timing but the worst luck. When the Winklevii filed for a physically backed bitcoin exchange-traded fund nearly three years ago , it created a stir. Their zeitgeist-capturing ETF filing garnered more press attention than all 139 new ETF launc...

  • via @technology

    Fraud in $4 Trillion Trade Finance Has Banks Turning Digital

    bloomberg.com 22 May '16, 6pm

    The risk posed by fraud in the $4 trillion trade-financing industry has prompted banks to start exploring distributed-ledger technology like the one that underpins bitcoin. Standard Chartered Plc, which lost almost $200 million from a fraud at China’s Qingdao port two years ago, has t...

  • Exploding Lake, Blood-Laden Drones Spur Rwanda Tech Boom

    bloomberg.com 20 May '16, 4am

    The tiny nation of Rwanda is pursuing a local technological revolution in a bid to transform its largely agrarian society into the equivalent of an African Singapore. Since President Paul Kagame led his Rwandan Patriotic Front to power in 1994 after a genocide that claimed as many as ...

  • Blockchain Goes Beyond Crypto-Currency

    Built for Bitcoin, Blockchain Goes Beyond Crypto-Currency

    bloomberg.com 20 May '16, 3am

    Starting next September, some logistics companies in Finland, Sweden, Estonia, and Latvia will begin outfitting shipping containers with a soda-can-size device that will beam out the cargo’s location, how much it’s vibrating as it travels, and its ambient temperature. The data will fl...

  • China's Debt Misery Finds Singapore - Bloomberg Gadfly

    bloomberg.com 20 May '16, 2am

    Chinese banks are justifiably on investors' radar for shuffling some of their more wobbly credit risk into wealth management products. However, when it comes to misery camped off balance sheet, the People's Republic has company elsewhere in Asia: More than 11 percent of the bad assets...

  • Steel 1942 Rolex Sells for $2.4 Million

    bloomberg.com 19 May '16, 7pm

    Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

  • Singapore Air Forms New Company to Manage Two Budget Carriers

    bloomberg.com 18 May '16, 1am

    Singapore Airlines Ltd., seeking to restructure its budget airline business, established a new holding company to manage its two low-fare carriers amid speculation of a consolidation in the region. Budget Aviation Holdings Pte will control long-haul carrier Scoot and short-haul carrie...

  • Indonesia Turns to Singapore's Temasek as Model for Investment - Bloomberg

    Indonesia Turns to Temasek as Model for Sovereign Investment

    bloomberg.com 17 May '16, 7am

    Indonesia is turning to Singapore’s Temasek Holdings Pte. as a model to create a sovereign investment company to drive development in Southeast Asia’s biggest economy. The government is considering starting an investment holding company for four or five state-owned entities, which cou...

  • Singapore Home Sales Fall as Mortgage Curbs Cool Housing Demand

    Singapore Home Sales Fall as Mortgage Curbs Cool Housing Demand

    bloomberg.com 16 May '16, 5am

    Singapore developers sold 12 percent less homes in April, as tighter mortgage curbs cooled demand in Asia’s second-most expensive housing market. Developers sold 745 units last month, compared with 843 in March, according to data released Monday by the Urban Redevelopment Authority. S...

  • Bank of Singapore Sees Asia Rich Shift to Paying Fees for Advice

    bloomberg.com 16 May '16, 3am

    Bank of Singapore Ltd., which recently bought the wealth-management units of Barclays Plc in Asia, sees the region’s private-banking industry shifting towards a fee-based model at the expense of the traditional practice of charging rich clients commissions on their transactions. “The ...

  • Singapore Airlines’ Low-Cost Carriers, Others Start Alliance -

    bloomberg.com 16 May '16, 2am

    Budget airlines formed the Asia Pacific region’s first alliance comprising eight low-fare carriers from Japan to Australia to boost usage of their networks. Value Alliance includes Singapore Airlines Ltd.’s Scoot and Tiger Airways, ANA Holdings Inc.’s Vanilla Air, Tiger Airways Austra...

  • This Singapore Girl Needs a Dance Partner - Bloomberg Gadfly

    bloomberg.com 13 May '16, 4am

    Singapore Airlines has an enviable reputation. Loyal passengers pay a premium to fly on its spanking new planes, despite grumbles about its clunky website and stingy frequent-flier program. Its shares trade on the highest valuation of any of the big carriers with at least $10 billion ...

  • The Winklevoss Twins Add Ether to Bitcoin Exchange

    bloomberg.com 13 May '16, 12am

    Cameron and Tyler Winklevoss, Gemini Trust Company co-founders, discuss their bitcoin exchange and the future of cryptocurrencies. They speak with Bloomberg's Erik Schatzker at the SALT Conference in Las Vegas on "Bloomberg West." (Source: Bloomberg)

  • Singapore Air Rivals Squeeze for Passengers Amid Yield Drop

    Singapore Air Rivals Squeeze for Passengers Amid Yield Drop

    bloomberg.com 12 May '16, 3pm

    Singapore Airlines Ltd. is fighting to prevent travelers from switching to Emirates Airline, which is offering luxuries like on-board shower, while budget carriers are chipping away at the coach class. The result: The lowest yield from passengers in six years. Yields, or the revenue e...

  • Shanmugaratnam to Cover Singapore Finance Job After Heng Stroke - Bloomberg

    Singapore Turns to Ex-Finance Minister After Heng Suffers Stroke

    bloomberg.com 12 May '16, 11am

    Singapore Deputy Prime Minister Tharman Shanmugaratnam will cover the duties of Finance Minister Heng Swee Keat, who underwent surgery on Thursday after suffering a stroke during a Cabinet meeting. Heng’s treatment helped relieve pressure in his brain from an aneurysm that led him to ...

  • Singapore Charges Two Men With Insider Trading on Two Stocks

    Singapore Charges Two Men With Insider Trading on Two Stocks

    bloomberg.com 12 May '16, 6am

    Singapore prosecutors charged two men for insider trading offenses on two stocks before the companies received takeover offers. Tay Yeow Kee and Cheng Hong Wee Eddy face six counts each for their trades on Qualitas Medical Group Ltd. and Leeden Ltd. in 2011, according to the charges r...

  • Singapore Fund Likes Hong Kong Property as Curbs to Stay at Home

    bloomberg.com 12 May '16, 1am

    SC Capital Partners, a Singapore private equity real estate firm with $1.2 billion in assets, said recent price declines make investing in Hong Kong property attractive. Founder Suchad Chiaranussati said he expects the Singapore government to maintain residential curbs in the city-sta...

  • Singapore's Prime Land Is `Exorbitant,' Says Leading Developer

    bloomberg.com 11 May '16, 12pm

    Singapore’s second-largest developer has taken a potshot at the prices of prime land in the city-state, describing them as exorbitant and predicting that they’ll only get even more expensive in years to come. “In land-scarce Singapore, it is increasingly difficult to secure prime land...

  • Surplus Singapore Air A380s Set for Paint Shop to Lure New Users - Bloomberg

    Surplus Singapore Air A380s Set for Paint Shop to Lure New Users

    bloomberg.com 11 May '16, 11am

    Aircraft-leasing firm Doric is preparing to take back five Airbus Group SE A380 superjumbos from Singapore Airlines Ltd. starting next year, in a move that would be the first test of second-hand demand for the world’s biggest jetliner. While Singapore Air hasn’t officially decided to ...

  • How Rolex and Lidl Go Great Together - Bloomberg Gadfly

    bloomberg.com 09 May '16, 5am

    All is not well on Britain's high street. Bellwether Next lowered its sales forecasts for the second time this year last week, and warned that this might not just be down to recent cold weather -- there could be a broader consumer slowdown going on too. Meanwhile, store chains BHS and...

  • Singapore Banks Discuss Cooperation to Fight Money Laundering

    bloomberg.com 06 May '16, 9am

    Singapore’s biggest banks are in talks about setting up a system for sharing information on prospective clients, in an effort to combat money laundering in the city-state. DBS Group Holdings Ltd., Oversea-Chinese Bank Corp. and United Overseas Bank Ltd. are exploring the possibility o...