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Daily Debrief: What Happened Today
MAS Monetary Policy Decision
Singapore's central bank surprised on Thursday morning with another easing stroke, moving to a neutral policy stance of zero per cent appreciation of the S$NEER (Singapore dollar nominal effective exchange rate) band.
- Sing dollar to weaken, local interest rates to rise now that Fed policy statement is out
- Quick takes: Singapore leverages on twin policy levers
The Singapore economy beat estimates to grow by 1.8 per cent year-on-year in the first quarter ended March 31, 2016, unchanged from the previous quarter.
Perennial Real Estate Holdings has filed applications for the Singapore High Court to wind up three associated companies related to its integrated development, Capitol Singapore at City Hall, due to a deadlock with its partner.
Noble Group Ltd chief executive officer Yusuf Alireza said that the commodities markets remain difficult as he presses on with efforts to refinance the trader's debt.
Singapore Airlines Ltd, Asia's second-largest international carrier, will benefit from the decision by the city-state's central bank to lower the local currency's appreciation slope as a cheaper Singapore dollar will support inbound tourist arrivals, Morgan Stanley said.
Olam International has secured a revolving credit facility aggregating US$650 million. This consists of two tranches of US$325 million each, a 364-day revolving credit facility and a two-year revolving credit facility.
PUB, Singapore's national water agency, will be calling a tender on Friday for the construction of Singapore's fourth desalination plant to be built at Marina East.
- Keppel T&T Q1 profit down 15.6% on higher taxation, lower non-controlling interests
- Soilbuild Reit's Q1 DPU down 4.7%
The STI Today
The Straits Times Index on Thursday managed to advance further into the black for 2016 when it rose 23.52 points to 2,913.93, thus bringing its gain for the year to date to 32 points or 1.1 per cent.