You are here
Daily Debrief: What Happened Today
Jurong Port has completed the S$30 million installation of solar panels on its warehouse rooftop, making it the largest port-based solar facility in the world.
The Seletar bus package comprises 24 existing services and two new services which will be announced closer to the commencement date.
Corporate bond offerings by some of Singapore's biggest companies are drawing such strong demand from investors that they are artificially lowering borrowing costs for weaker borrowers, according to S&P Global Ratings.
GIC invested its share of US$80 million in March and the ADIA entity will invest the remaining US$150 million.
One of these projects is an EPCI (engineering, procurement, construction, and installation) contract from a European oil major to perform pipeline replacement work in Qatar.
This tie-up will see ICBC setting up a team in Singapore to provide project financing and related professional services needed in "One Belt, One Road" basic infrastructure investments.
The STI Today
"Bad economic news is good news", at least as far as stocks are concerned. This has been the case for eight years and so it remains - a shockingly weak US jobs report; the worst since 2010 - last Friday has enabled stocks to push higher largely because the probability that the US Federal Reserve will raise interest rates at next week's Federal Open Market Committee meeting has dropped sharply. Two weeks ago it was 32 per cent as per the federal funds futures market, on Monday it stood at just 2 per cent.