You are here

Daily Debrief: What Happened Today

Stories you might have missed
Tuesday, May 16, 2017 - 18:30

GIC.jpg
GIC has sold just under half of its stake in Swiss bank UBS Group for a loss, the Singapore sovereign wealth fund announced on Tuesday.

GIC sells 2.4% UBS stake for a loss

GIC has sold just under half of its stake in Swiss bank UBS Group for a loss, the Singapore sovereign wealth fund announced on Tuesday.


Singapore property comeback fuelled by developers hungry for land

Developers' hunger for Singapore land is adding to signs that the city's housing market is making a comeback after three years of price declines.

sentifi.com

Market voices on:


Noble climbs even as Moody's flags US$900m funding gap

After a savage three-day sell-off, Noble Group Ltd shares climbed on Tuesday even as Moody's Investors Service joined S&P Global Ratings in highlighting the embattled commodity trader's finances, saying that estimated liquidity isn't sufficient to cover debt due by mid-2018.


EU court says Singapore trade deal needs national ratification

The top EU court ruled on Tuesday that a free trade agreement between the European Union and Singapore cannot fully enter force until ratified by all EU countries, in a legal opinion that could slow down other planned EU trade deals.


Singapore fintech firm launches 'first digital platform' for trade finance assets

An MAS-backed fintech firm, CCRManager Pte Ltd, on Tuesday launched what it says is the first digital platform for the distribution of international trade financing, transactions now handled mainly by phone and email.


Corporate Earnings


The STI Today

Singapore stocks finish weaker; STI loses 1.1%, dragged lower by JM, banks

On Tuesday, the role of prime index mover was assumed by Jardine Matheson, when it plunged US$2.81 or 4.3 per cent to US$62.29, accounting for 10 points out of the Straits Times Index's (STI) 36.5 points or 1.12 per cent loss to 3,227.71.

 

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom