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Daily Debrief: What Happened Today
Just over half of the businesses in Singapore have said they are "adversely affected" by the current economic climate, according to the findings of the latest National Business Survey released by the Singapore Business Federation (SBF) on Tuesday.
The government can consider partially pegging returns on the Central Provident Fund (CPF) Ordinary Account (OA) to returns generated by sovereign wealth fund GIC, suggested an academic.
Resale prices of non-landed private homes dipped 0.8 per cent in December 2015 over the previous month, according to the latest flash estimates from SRX Property. This contrasts with a 0.6 per cent month-on-month gain in November.
Singapore's bond market may see its second default in as many months after creditors said Pacific Andes Resources Development Ltd hasn't honoured some obligations on S$200 million of notes.
Global equities have started the year badly and the moves of the past week were likely warnings of big trends for the year including weakness in equities, DBS said in an Investment Insights note.
Singapore will see a subdued performance from externally oriented industries in the short term, mirroring the modest growth in the global economy, said Finance Minister Heng Swee Keat on Tuesday.
Ornamental fish seller Qian Hu Corporation has eked out a net profit of S$19,000 for its financial year ended Dec 31, 2015, 95 per cent lower than S$392,000 a year ago.
The STI Today
A nervous silence reigned in most dealing rooms on Tuesday, as markets kept wary eyes cocked in China's direction and as traders stayed away in droves, worried that China's stock market plunges of the past week are not yet over.