Daily Debrief: What Happened Today
Singapore Economic Data
Singapore narrows 2016 GDP growth forecast to 1-2% as economy expands 2.1% in Q2 from a year ago
The new official projection takes into account additional downside risks such as Brexit-related uncertainties, and the potential for spiking debt defaults in China amid rising corporate credit levels there.
Majority of Singaporeans not financially prepared for life's crises: survey
The survey by insurer Prudential shows that in the past five years, about 70 per cent of Singaporeans did not increase their life insurance cover to keep pace with the rising income levels.
Rents for non-landed private homes dip in July: SRX Property
Rents for non-landed private homes in Singapore remained on a slide in July, marking a 0.4 per cent decline from a month ago and a 4.8 per cent fall from a year ago.
Hot stock: SembMarine queried again as share price rises 6%
SembMarine was queried by the Singapore Exchange (SGX) again - for the second time in six months - after its share price rose as much as 6.1 per cent to an intra-day high of S$1.38 on Thursday.
Singapore Sling: Raffles said near deal for first London Hotel
Raffles Hotels & Resorts is the preferred operator of a hotel in London's Old War Office, once occupied by Winston Churchill, according to two people familiar with the plans.
Pacific Radiance chairman had pared stake in Swiber before the debacle started
Pacific Radiance executive chairman Pang Yoke Min, who owns a substantial stake in beleaguered Swiber Holdings, had from July 12 to 25 disposed of more than three million Swiber shares for S$476,477.59.
World Bank suffering 'leadership crisis', staff say
Staff at the World Bank delivered a broadside against its sitting President this week, saying the global lender faced a "crisis of leadership" and risked irrelevance on the world stage.
Corporate Earnings
The STI Today
Singapore shares close lower; STI's loss capped by jump in Singtel
A S$0.07 rise in Singtel to S$4.27 on Thursday helped offset the effect on the Straits Times Index (STI) of losses in all three banks. Also helping were positive sessions in Hong Kong and the Dow futures market, with the latter gaining about 50 points, indicating a likely firm Thursday for Wall Street. The net effect was the STI's loss was capped at 5.75 points at 2,869.82, which came with average turnover of one billion units valued at S$1.02 billion. Singtel's support amounted to about seven points.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
China’s consumer prices rise for 3rd month, factory deflation persists
Soyoil jumps on bets US tariffs to include Chinese cooking oil
White House defends voting ‘No’ on UN resolution supporting Palestinian statehood
US health officials to spend US$100 million on bird flu surveillance
Jim Simons, math genius who conquered Wall Street, dies at 86
Aiming for rosier ties, Xi wraps up Europe visit