reuters.com Archives - 30 May 2016, Monday

  • Exclusive: Chinese, Japanese suitors eye $4 billion sale of CIT plane leasing unit - sources

    reuters.com 30 May '16, 5am

    SINGAPORE/HONG KONG U.S. lender CIT Group Inc (CIT.N ) has kicked off the sale of its aircraft leasing assets by inviting more than a dozen entities to consider bidding, including China's HNA Group, Industrial and Commercial Bank of China's (601398.SS ) ICBC Leasing, and Japan's Orix ...

  • Oil prices dip on strong dollar, rising Canadian output: SINGAPORE (Reuters) - Oil prices dipped on Monday as...

    Oil prices dip on strong dollar, rising Canadian output

    reuters.com 30 May '16, 5am

    SINGAPORE Oil prices dipped on Monday as a strong dollar weighed on markets and Canadian oil sands production was expected to increase this week. Crude markets, however, did receive some support from the start of the U.S. summer driving season coinciding with a fall in U.S. crude outp...

  • Noble Group says CEO resigns, sells U.S. energy unit: SINGAPORE (Reuters) - Noble Group , which has been batt...

    Noble Group says CEO resigns, sells U.S. energy unit

    reuters.com 30 May '16, 12am

    SINGAPORE Noble Group (NOBG.SI ), which has been battling to boost investor confidence after an accounting dispute and weak commodity markets, said on Monday its chief executive has resigned. The Singapore-listed company said it had accepted the resignation of Chief Executive Yusuf Al...

  • China bets on duty-free paradise to keep luxury spenders at home

    reuters.com 30 May '16, 12am

    SANYA, China China's efforts to lift local consumption, spur domestic tourism and keep within its borders citizens that splurge in Milan or Seoul have spawned a duty-free paradise on the southern island of Hainan that it hopes will satisfy a lust for luxury. Firms such as the owner of...

  • Singapore court revokes bail decision for ex-BSI wealth manager

    Singapore court revokes bail decision for ex-BSI wealth manager

    reuters.com 27 May '16, 11am

    SINGAPORE A former wealth manager of troubled Swiss private bank BSI was denied bail by the Singapore High Court on Friday and will await his trial in prison for two of the nine charges that are part of the city-state's investigations into money laundering. The case is related to illi...

  • Singapore charges six Bangladeshi men for terrorism financing

    Singapore charges six Bangladeshi men for terrorism financing

    reuters.com 27 May '16, 8am

    SINGAPORE A Singapore court on Friday charged six Bangladeshi men, who were detained last month for planning attacks in their home country, for involvement in terrorism financing activities. The six were among eight Bangladeshi men who were detained in April under Singapore's colonial...

  • LPC: Gunvor Singapore closes increased $1.04 billion loan

    reuters.com 26 May '16, 1pm

    LONDON Gunvor Group has closed $1.041 billion of syndicated revolving credit facilities to support new activities and existing operations in Asia Pacific, the company said on Thursday. The financing, which is for wholly-owned subsidiary Gunvor Singapore Pte Ltd, is split between a $95...

  • Fed's Bullard: tight U.S. labor market may put upward pressure on inflation: SINGAPORE (Reuters) - U.S. labor...

    Fed's Bullard: tight U.S. labor market may put upward pressure on inflation

    reuters.com 26 May '16, 10am

    SINGAPORE U.S. labor markets are relatively tight and may put upward pressure on inflation, St. Louis Federal Reserve President James Bullard said on Thursday. "By nearly any metric, U.S. labor markets are at or beyond full employment," Bullard said in an OMFIF lecture in Singapore. "...

  • Singapore ex-BSI wealth manager stays in remand as prosecutor challenging bail

    Singapore ex-BSI wealth manager stays in remand as prosecutor challenging bail

    reuters.com 26 May '16, 10am

    SINGAPORE A former Singapore wealth manager of troubled Swiss private bank BSI Bank will remain in remand of white-collar police after the state prosecutor said it is challenging a court's decision on Thursday to grant him bail of S$600,000 ($435,761). The case is part of Singapore's ...

  • #Technology Singapore April factory output +2.9 pct y/y, exceeds forecasts: SINGAPORE, May 26

    Singapore April factory output +2.9 pct y/y, exceeds forecasts

    reuters.com 26 May '16, 5am

    SINGAPORE May 26 Singapore's industrial production in April grew at the fastest pace in nearly two years, helped by output in the electronics and pharmaceuticals sectors expanding at a healthy clip, data showed on Thursday. Manufacturing output rose 2.9 percent from a year earlier in ...

  • Brent oil pushes above $50 for first time in nearly seven months

    reuters.com 26 May '16, 2am

    SINGAPORE Brent oil futures climbed above $50 a barrel on Thursday for the first time in nearly seven months, boosted after U.S. government figures showed a sharper-than-expected drawdown in crude stocks last week. Buoyant stock markets also supported prices, with the Dow Jones indust...

  • Brent oil pushes above $50 for first time in nearly seven months

    reuters.com 26 May '16, 2am

    SINGAPORE Brent oil futures climbed above $50 a barrel on Thursday for the first time in nearly seven months, boosted after U.S. government figures showed a sharper-than-expected drawdown in crude stocks last week. Buoyant stock markets also supported prices, with the Dow Jones indust...

  • Spain arrests 30 suspected of laundering money in bitcoin centers

    Spain arrests 30 suspected of laundering money in bitcoin centers

    reuters.com 25 May '16, 2pm

    MADRID Spanish police said on Wednesday they had arrested 30 people suspected of illegally distributing pay television content and of laundering the proceeds by investing in bitcoin "mining" centers for processing transactions in the digital currency, which use intensive computing pow...

  • BSI Singapore shutdown a wake-up call for private banks in Asia

    reuters.com 25 May '16, 10am

    HONG KONG/SINGAPORE Singapore's drastic move to shut Swiss bank BSI's operations in the city-state over its dealings with scandal-hit Malaysian fund 1MDB is a wake-up call for wealth managers in Asia, which had been spared the large fines and sanctions seen in the West. The private ba...

  • BSI Singapore shutdown a wake-up call for private banks in Asia

    reuters.com 25 May '16, 10am

    HONG KONG/SINGAPORE Singapore's drastic move to shut Swiss bank BSI's operations in the city-state over its dealings with scandal-hit Malaysian fund 1MDB is a wake-up call for wealth managers in Asia, which had been spared the large fines and sanctions seen in the West. The private ba...

  • Singapore Exchange in talks to buy London's Baltic Exchange

    reuters.com 25 May '16, 8am

    SINGAPORE/LONDON The Singapore Exchange (SGX) is in exclusive talks to buy London's Baltic Exchange, which has been at the heart of the global shipping industry for centuries, the two companies said on Wednesday. Founded in 1744, the Baltic Exchange is no longer a forum for chartering...

  • Oil prices climb as U.S. crude stocks seen shrinking: SINGAPORE (Reuters) - Oil futures rose on Wednesday aft...

    Oil prices climb as U.S. crude stocks seen shrinking

    reuters.com 25 May '16, 12am

    SINGAPORE Oil futures rose on Wednesday after U.S. industry data suggested a larger-than-expected drawdown in crude inventories last week, although a stronger U.S. dollar curbed gains. Oil prices were also supported by an overnight surge in U.S. equities and strong U.S. home sales tha...

  • RPT-UPDATE 4-Singapore orders BSI bank unit shut as 1MDB probe widens

    reuters.com 25 May '16, 12am

    (Repeats story published late Tuesday. No change to text.) * MAS shuts Singapore unit of BSI for money laundering * First bank to be closed in city state since 1984 * Swiss start criminal proceedings against BSI * BSI Group CEO to step down By Anshuman Daga, Saeed Azhar and Joshua Fra...

  • Stung by loss of secrecy at home, Swiss banks run into trouble in Asia

    reuters.com 24 May '16, 10pm

    ZURICH/SINGAPORE Regulators' closure of the Swiss BSI bank's Asian outpost for failing in its duty to prevent money-laundering has highlighted the risks of hunting wealthy clients farther afield as Swiss banks' traditional line in hiding money from foreign tax men is choked off. The S...

  • Japan an alluring target for Standard Bank ATM thieves

    reuters.com 24 May '16, 12pm

    SINGAPORE/TOKYO Criminals who stole millions of dollars from automatic teller machines across Japan in a three-hour spree probably chose the country because banks consider it a low fraud risk, security experts say. The gang used counterfeit Standard Bank credit cards to withdraw 1.4 b...

  • Japan an alluring target for Standard Bank ATM thieves

    reuters.com 24 May '16, 12pm

    SINGAPORE/TOKYO Criminals who stole millions of dollars from automatic teller machines across Japan in a three-hour spree probably chose the country because banks consider it a low fraud risk, security experts say. The gang used counterfeit Standard Bank credit cards to withdraw 1.4 b...

  • Temasek sees no sharp rebound in global startup valuations

    reuters.com 24 May '16, 9am

    SINGAPORE Funding for global tech startups should return,even if valuations don't rebound to their 2015 levels as investors press for less inflated values, a senior executive at Singapore state investor Temasek [TEM.UL] said. Lured by a potential market for app-based, on-demand and lo...

  • Temasek sees no sharp rebound in global startup valuations

    reuters.com 24 May '16, 9am

    SINGAPORE Funding for global tech startups should return,even if valuations don't rebound to their 2015 levels as investors press for less inflated values, a senior executive at Singapore state investor Temasek [TEM.UL] said. Lured by a potential market for app-based, on-demand and lo...

  • Singapore orders BSI bank unit shut as 1MDB probe widens

    reuters.com 24 May '16, 8am

    SINGAPORE/ZURICH Singapore closed down BSI's operations in the city-state, while Switzerland began criminal proceedings against the private bank, in the biggest international crackdown on financial entities dealing with a scandal-hit Malaysian government fund. The Monetary Authority o...

  • Singapore orders BSI bank unit shut as 1MDB probe widens

    reuters.com 24 May '16, 8am

    SINGAPORE/ZURICH Singapore ordered BSI's operations in the city-state to close, as Switzerland started criminal proceedings against the private bank, in the biggest international crackdown on financial entities dealing with a troubled Malaysian state fund. The Monetary Authority of Si...

  • Singapore orders BSI bank unit shut as 1MDB probe widens

    reuters.com 24 May '16, 6am

    SINGAPORE/ZURICH Singapore closed down BSI's operations in the city-state, while Switzerland began criminal proceedings against the private bank, in the biggest international crackdown on financial entities dealing with a scandal-hit Malaysian government fund. The Monetary Authority o...

  • BRIEF-Singapore central bank says to impose $13.3 mln penalty on BSI Bank

    reuters.com 24 May '16, 5am

    * MAS asked BSI Bank to impose penalties of $13.3 million * MAS says conducting supervisory reviews of several other financial institutions and bank accounts through which suspicious transactions have taken place * MAS says found considerable evidence of gross dereliction of duty and ...

  • Oil prices fall as dollar gains, but possible stock drawdown supports: SINGAPORE (Reuters) - Oil prices fell

    Oil prices little changed as dollar gains, U.S. drawdown seen

    reuters.com 24 May '16, 12am

    SINGAPORE Oil prices were little changed in thin early Asian trade on Tuesday as a firmer dollar weighed on oil markets while a likely drawdown in U.S. crude and gasoline stockpiles pointed to stronger demand ahead of the U.S. summer driving season. U.S. crude futures edged down 4 cen...

  • Hackers probe defenses of Middle East banks : FireEye

    reuters.com 23 May '16, 10am

    SINGAPORE Hackers are probing the defenses of banks in the Middle East, targeting employees with infected emails which gather information about the banks' network and user accounts, FireEye researchers said. FireEye, a U.S. cyber security company investigating the February attack on B...

  • Hackers probe defenses of Middle East banks : FireEye

    reuters.com 23 May '16, 10am

    SINGAPORE Hackers are probing the defenses of banks in the Middle East, targeting employees with infected emails which gather information about the banks' network and user accounts, FireEye researchers said. FireEye, a U.S. cyber security company investigating the February attack on B...