Singapore Stock Blog

Nuclear-free Japan not bad for economy: minister
TOKYO: Japan's industry minister stepped into the national debate on energy policy, saying the nation could phase out nuclear power by 2030 without hurting the world's third-largest economy.

IKEA close to securing India market entry: report
NEW DELHI: India's government and the IKEA Group are nearing a compromise over local-sourcing rules that have been delaying the Swedish retailer's entry into the country, a report said Tuesday.

Esprit shares rally on new CEO
HONG KONG: Shares in global clothing retailer Esprit on Tuesday jumped as much as 38 percent in Hong Kong after the company appointed a new chief executive.

StanChart shares slump on NY licence threat
HONG KONG – Standard Chartered Bank on Tuesday rejected allegations from US regulators that it hid US$250 billion in transactions with Iranian banks for almost a decade in violation of US sanctions.

Australia holds rates at 3.50%
SYDNEY: Australia's central bank held interest rates at 3.50 per cent for a second consecutive month Tuesday, saying previous cuts were still trickling through the economy despite a softer global outlook.

Gibson Guitar settles US probe of wood imports
WASHINGTON: Guitar-maker Gibson has agreed to pay $350,000 to avoid US prosecution over allegations it illegally imported endangered wood from India and Madagascar, according to US officials.

Asian markets higher on hopes for ECB bond-buying
HONG KONG: Asian markets rose Tuesday on hopes the European Central Bank will soon restart its sovereign bond-buying scheme, but gains were capped by profit-taking after the previous day's big gains.

Taiwan's July inflation rises to near 4-year high
TAIPEI: Taiwan said Tuesday that inflation rose to a nearly four-year-high of 2.46 per cent in July, mainly because of soaring food prices brought on by bad weather.

Argentina imposes more restrictions on US dollars
BUENOS AIRES: Argentina has imposed another restriction on the sale of US dollars, barring travelers from purchasing them unless the dollar is the currency of their destination, the government said Monday.

Standard Chartered rejects US Iran trade claims
HONG KONG: Banking giant Standard Chartered on Tuesday rejected a US regulator's claim that it hid US$250 billion in transactions with Iranian banks in violation of US sanctions.

UN food agency lowers 2012 global rice forecast
ROME: The UN's Food and Agriculture Organisation (FAO) revised down its global rice forecast for 2012 on Monday due to low monsoon rainfall in India, but said world output should still be greater than in 2011.