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Daily Debrief: What Happened Today
The transaction comprises an investment of approximately US$500 million in newly issued equity capital of Lazada, and acquisition of shares from certain shareholders of Lazada, for a total investment of about US$1 billion.
Private cars will start to go the way of horse carriages in as early as 15 years' time, replaced by driverless pods that can be summoned by a mobile device.
- Singapore private car hire drivers to be licensed
- Rail reliability central to Singapore transport in 2030
Singapore's Attorney-General's Chambers (AGC) says it has received a request for mutual legal assistance (MLA) in criminal matters from the office of the Attorney-General of Switzerland (OAG) in relation to 1Malaysia Development Berhad (1MDB).
KPMG Singapore has launched an initiative which will allow its corporate customers to tap the creative skills of startups in order to get access to innovative solutions. Called the KPMG Digital Village, it will be what a company spokesman describes as a symbiotic ecosystem matching, "fostering and forging innovation ventures between companies and start-ups".
Singapore's water agency PUB is exploring the feasibility of developing a desalination plant on Jurong Island, as the country looks to strengthen water security and resilience to droughts.
The STI Today
Activity in local stocks ground to a virtual halt on Tuesday, with the Straits Times Index hardly budging throughout the session before ending a net 5.41 points higher at 2,814.65 on volume of 978.7 million units worth S$664 million, the lowest single-day total this year.