Singapore Stock Blog

German finance minister rules out rescue fund hike
BERLIN: Germany's finance minister on Monday ruled out a hike in bailout fund guarantees by eurozone members following the ratings downgrade of nine countries by Standard and Poor's.

S&P's downgrades spook Asian markets
HONG KONG – Asian markets fell and the euro remained under pressure on Monday after Standard & Poor's cut the credit rating of nine European nations, including France and Austria's triple-A status.

Malaysia sells stake in national carmaker Proton
KUALA LUMPUR: Malaysia's state investment arm Khazanah Nasional said on Monday it had sold its 42.7 percent stake in struggling national automaker Proton to leading car distributor and importer DRB-HICOM.

India's December inflation slides to 7.47%
MUMBAI: India's annual inflation rate fell to a two-year-low of 7.47 percent in December, down from 9.11 percent in November, data showed on Monday, raising the prospect of central bank interest rate cuts.

Britain seeks major slice of offshore yuan market
HONG KONG: Britain said Monday it will partner with Hong Kong to develop the City of London as a major offshore centre of trade in China's yuan currency.

Oil higher in Asian trade on Nigerian unrest
SINGAPORE: Oil prices rose in Asian trade on Monday as worries over supply disruptions in Nigeria outweighed concerns over the mass debt downgrade of eurozone nations, analysts said.

Asian shares fall after European downgrades
HONG KONG: Asian markets fell and the euro remained under pressure on Monday after Standard & Poor's cut the rating of nine European nations, including France and Austria's triple-A status.

Japan machinery orders soar 14.8% in November
TOKYO: Japan's core private-sector machinery orders, a leading indicator of corporate capital spending, jumped 14.8 percent in November from the previous month, official data showed Monday.