Daily Debrief: What Happened Today

Parliamentary Sitting on 38 Oxley Road

PM Lee: Oxley Road debate shows there has been no abuse of power by him or the government

Prime Minister Lee Hsien Loong said that Singaporeans can see that there has been no abuse of power by either him or the government. He also questioned the need for a Select Committee or Commission of Inquiry (COI) to be set up, given that the debate in Parliament over the past two days has produced no evidence of abuse of power.

SIA launches HighFlyer corporate programme aimed at SMEs

Singapore Airlines (SIA) has launched a new loyalty programme that is aimed at benefiting smaller companies and their employees at the same time.

New company under Lloyd's coverholder model to offer cyber insurance

A new company specialising in cyber, technology and financial lines has joined the flurry of insurtech activities that have started picking up in the Singapore insurance scene.Delta Insurance Singapore is the first such Lloyd's coverholder - a distribution model - in Singapore underwriting such businesses.

Olam prices S$300m subordinated perpetual securities

Olam International on Tuesday announced that it has priced S$300 million of subordinated perpetual securities under its US$5 billion Euro Medium Term Note Programme.

Malaysia central bank says no new policy on foreign ownership of insurers' local units

Malaysia's central bank said on Tuesday that foreign shareholders of local insurers must honour their commitment in maintaining specified levels of domestic shareholding.

Opec output at highest this year as exempt nations pump more

Opec's crude production rose to the highest this year in June as member nations exempt from output curbs pumped more.

The STI Today

Singapore stocks finish weaker; STI falls in tandem with Hong Kong

The closure of Wall Street for the July 4 celebrations meant the local market on Tuesday had to rely on Hong Kong for direction. As a result, with the Hang Seng Index sliding 1.5 per cent, its largest one-day fall so far this year, the Straits Times Index (STI) finished a largely forgettable session, nursing a 12.29 points loss at 3,211.17.