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Is the Investment Thesis for Emerging Market Equities Still Valid?

Thu, 23 May 2013 00:00:00 GMT

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STI up as traders await Fed chief's testimony

Thu, 23 May 2013 00:00:00 GMT

SHARES on the local bourse managed respectable gains yesterday, reversing Tuesday's fall, as traders awaited major market-moving news from the United States - Fed chairman Ben Bernanke's testimony in the US Congress. "All eyes will be on Bernanke as analysts watch for tones of optimism in his outlook for the US economy," said CMC Markets analyst Desmond Chua. "The more likely scenar... more

40% rule could put off foreign banks

Thu, 23 May 2013 00:00:00 GMT

BANK Indonesia's in-principle approval for DBS to buy only a 40 per cent stake in Bank Danamon could hamper merger and acquisition (M&A) interest in Indonesia from other foreign banks, according to ratings agency Fitch. It said that the Indonesian central bank's decision is likely to be a precedent for potential M&As involving prospective foreign banks. "If there is a limited chance o... more

Greenback hits 10-month high against Singdollar

Thu, 23 May 2013 00:00:00 GMT

THE United States dollar has risen rapidly against the Singapore dollar, up from $1.23 to $1.26 in the last two weeks alone. Experts say the greenback's quickfire surge against a range of currencies, including Singapore's, reflects the booming US stock market as well as fresh hopes the Federal Reserve will soon slow its stimulus measures. A stimulus slowdown will lift the US dollar, as it would me... more

Car COE prices up on prospects of higher costs

Thu, 23 May 2013 00:00:00 GMT

CERTIFICATE of entitlement (COE) prices shot up at the latest tender yesterday as the prospect of more changes that could lead to higher costs drove fence-sitters to showrooms. The COE price for cars up to 1,600cc ended 2.9 per cent higher at $64,839. The premium for cars above 1,600cc surged by 9.1 per cent to close at $67,304, fuelled also by Tuesday's launch of the upgraded Mercedes-Benz E-clas... more

Cooling measures drive up car loan interest rates

Thu, 23 May 2013 00:00:00 GMT

THE widely expected rise in interest rates for car buyers has materialised, since measures to restrict the amount and tenure of loans were introduced in March to cool the market. As of yesterday, DBS Bank remained the only bank sticking to the old rate of 1.88 per cent per annum. All the others have raised interest rates almost uniformly to 2.68 per cent since the first mover - believed to be Citi... more

Luxury car COEs outpace Cat A

Thu, 23 May 2013 00:00:00 GMT

[SINGAPORE] Certificate of entitlement (COE) premiums for large cars rose higher than those for smaller cars in the bidding exercise yesterday, as news of possible changes in the regulations for luxury cars prompted many to buy as soon as possible. Category B COEs (for cars above 1,600cc) jumped $5,604 from two weeks ago to $67,304. The premium for Category A (for cars 1,600cc and below) was $64,8... more

Dimon wins, Wall St keeps its merry ways

Thu, 23 May 2013 00:00:00 GMT

JPMorgan Chase chief executive Jamie Dimon held onto the chairman's seat, outmanoeuvring dissident shareholders of the largest US bank by assets by winning a shareholder vote Tuesday. It's a personal vindication for Mr Dimon, proof of the loyalty he earned from shareholders for steering his bank through the financial crisis comparatively unscathed. For the financial system, the victory of the s... more

DBS reluctant to settle for a minority stake

Thu, 23 May 2013 00:00:00 GMT

[SINGAPORE] DBS Group Holdings may not settle for the minority stake it has been offered in Indonesia's Bank Danamon. It hopes that talks between the central banks of Indonesia and Singapore will clear the way for a majority takeover. Pending these, it may ask for an extension from seller Temasek Holdings. On Tuesday, Bank Indonesia (BI) said it will approve a maximum 40 per cent sale of Bank Dana... more

Measures cool ardour for multiple properties

Thu, 23 May 2013 00:00:00 GMT

[SINGAPORE] The proportion of private housing loan applicants without any outstanding mortgages continued to rise in the first quarter of this year, according to latest figures from Credit Bureau (Singapore). This suggests that the January cooling package, with measures that discouraged multiple property ownership, is starting to bite, analysts say. Lone ... more