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Author: traderhub8   |   Latest post: Fri, 20 Sep 2019, 9:00 AM

 

Phillip Capital Morning Note - 7 May 2019

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UNITED Overseas Bank (UOB) has launched an online utility marketplace that aggregates deals from utility providers, as Singapore's local banks compete to entrench themselves in customers' lifestyles.

HSBC Singapore has hired OCBC Bank's Tze Tze Lee as the head of product and propositions, a newly created role within the bank’s global trade and receivables finance team in Singapore.

HYFLUX has received a notice from BNP Paribas demanding payment of US$57.7 million, it said on Monday. The French bank is claiming the sum in respect of a performance bond that it issued to Hyflux associate company Tahlyat Myah Magtaa (TMM) in Algeria.

US President Donald Trump on Monday slammed China over its trade practices, saying the United States was losing billions to Beijing and vowing to protect American commerce as tension escalated following his weekend threat to hike tariffs.

IKEA plans to invest 400 million euros (S$611.38 million) in France over the next three years as it builds up its new city centre stores in the country, IKEA France's chief executive Walter Kadnar said on Monday.

Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR

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Labels: UOB, Hyflux

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