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Daily Debrief: What Happened Today
Singapore, by a long shot, averted a technical recession in the third quarter of 2015 after all - thanks to a significantly stronger-than-expected performance by the services sector. The government's full-year growth forecast, however, has still been adjusted downwards to "close to 2 per cent", compared to its earlier projection of 2-2.5 per cent.
Worsened performance in Singapore's third-quarter trade has led trade promotion agency International Enterprise Singapore to trim its 2015 year-on-year growth forecasts for trade and non-oil domestic exports (NODX) for a third time.
Singapore civil servants will get a year-end Annual Variable Component (AVC) of 0.65 month, with lower-wage officers getting an AVC of at least S$1,100, the Public Service Division announced on Wednesday.
This compares to the year-end AVC of 0.8 month civil servants got last year, and the S$1,200 minimum lower-wage officers received.
GIC, manager of more than US$100 billion of Singapore's reserves, is "underinvested" in property and is interested in transactions of scale, said GIC real estate president Goh Kok Huat.
A total of 98 submissions were received by Malaysia's Suruhanjaya Pengangkutan Awam Darat and Singapore's Land Transport Authority in response to the joint request for information exercise on the Kuala Lumpur-Singapore High Speed Rail project.
Two of the world's biggest airlines are betting that oil prices won't rally any time soon, growing more cautious after losing hundreds of millions of dollars on hedges.
The STI Today
Share prices in the local bourse finished on a low note on Wednesday with the key Straits Times Index falling 32 points or 1.09 per cent to 2,891.58.