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Daily Debrief: What Happened Today
Inflation has troughed in Singapore and is projected to pick up to 0.5-1.5 per cent in 2017, from around -0.5 per cent this year reflecting the rise in private road transport cost.
Premiums for passenger car certificates of entitlement (COEs) softened as demand continues to be weak, according to some motor distributors.
Insurance premium volumes are expected to continue growing, given that the global economy is expected to grow moderately over the next two years, reinsurer Swiss Re said on Wednesday.
Total gross written premiums recorded in Asean went up 2.9 per cent to US$96.3 million, while overall insurance penetration rate edged up slightly by 0.4 percentage points to 3.8 per cent in 2015.
After negotiating Singapore's current Formula One deal, Bernie Ecclestone said in 2012 the hardest thing was explaining to the authorities that "we don't race for free".
Its Malaysian unit, MDSB, has exercised a call option to acquire the remaining 30 per cent of Yoke Food Industries (YFI).
Manulife US Reit, the US office real estate investment trust (Reit) listed on the Singapore Exchange, will be included in the MSCI Singapore Small Cap Index after the close of trading on Nov 30, 2016.
The STI Today
Buoyed by Wall Street's second set of record highs overnight, the benchmark Straits Times Index (STI) extended its gains, adding 17.49 points or 0.62 per cent to close at 2,839.69 on Wednesday.