Singapore's financial resilience seemed to show signs of weakening on some fronts, but the central bank concluded after stress tests that the country's financial system remains healthy in the event of future shocks.
Fitch Ratings said in its latest Asia-Pacific Structured Finance Chart that Singapore's private residential property prices have fallen 8.2 per cent from its peak in September 2013.
All services industries recorded positive growth in turnover, except for the business services and recreation & personal services industries, with turnover declining 1.8 per cent and 0.5 per cent respectively compared with the same period last year.
OCBC Bank on Friday said it has priced its A$100 million senior floating rate notes due 2018. The notes will pay interest equivalent to the three-month bank bill swap reference rate plus 0.86 per cent, per annum.
The prosecution has accordingly filed notices of appeal on Friday, against the sentences imposed on all six accused persons.
Delivering the annual S Rajaratnam lecture organised by the Ministry of Foreign Affairs, Prime Minister Lee Hsien Loong said the country is determined to be a master of its own destiny in a world where power often determines which countries prevail and set the agenda.
A plunge in Chinese stocks dragged Asian markets down on Friday after authorities launched a probe into several brokerages and profits at the country's industrial giants sank far more than expected.
The STI Today
The Straits Times Index dropped 25.57 points to 2,859.12 on Friday, bringing its loss for the week to 58 points or 2 per cent and for the year to 15 per cent. Turnover throughout the five days was low and focused mainly in blue chips and penny stocks.