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Daily Debrief: What Happened Today
A price war appears to have emerged in the mobile data space in Singapore - even before the entry of a fourth telco - as M1 on Thursday introduced new and upsized data plans, a day after MyRepublic and Singapore Telecommunications (Singtel) unveiled theirs.
Senior Minister of State for Finance and Law Indranee Rajah on Thursday stressed the importance of private sector's participation in the infrastructure sector, and said Singapore, as a regional infrastructure hub, is working to mainstream infrastructure assets for institutional investors by developing it as a standalone asset class.
United Overseas Bank (UOB) has priced the issue of its US$500 million subordinated notes due 2026 and callable in 2021 under its S$15 billion euro medium term note programme.
Australia and New Zealand Banking Group has exited the emerging corporate (SME) business in five Asian countries and cut around 100 jobs, a bank spokesman said.
The two-year partnership, signed at ITB Berlin 2016 on Wednesday, takes effect from April 1, 2016. It will see the two parties jointly explore and implement activities to promote tourist traffic to Malaysia through the Singapore hub from 14 key inbound markets, by way of SIA's and SilkAir's services.
The STI Today
Trading in the local market on Thursday was much more subdued than in previous sessions, with volume amounting to just 2.4 billion units worth S$988 million, compared with the average of S$1.37 billion done between Monday and Wednesday and the S$1.75 billion traded on Friday last week.