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Singapore Wrap Monday
As expected, Prime Minister Lee Hsien Loong's new Cabinet, unveiled on Monday, emphasises leadership renewal. There are now 37 office holders (up from 33) - half of whom are 50 years old and below.
- Khaw Boon Wan is new Transport Minister and Coordinating Minister for Infrastructure
- Halimah to be nominated as Speaker of Parliament again, Chan Chun Sing appointed Government Whip
Singapore's benchmark Straits Times Index (STI) fell below 2,800 points on Monday to officially end up in bear market territory.
Prices of completed non-landed private homes in Singapore fell 0.6 per cent in August 2015 over July, according to the National University of Singapore (NUS) flash estimate for its Overall Singapore Residential Price Index (SRPI) released on Monday.
Nasdaq-listed semiconductor firm Ultra Clean Technology (UCT) on Monday launched in Singapore what is believed to be the largest and most comprehensive commercial 3D printing facility in South-east Asia (SEA).
Olam International, a commodity trader controlled by Singapore investment company Temasek Holdings, plans to more than double coffee-plantation acreage in Africa to improve quality control on the continent.
The STI today
The Straits Times Index (STI) on Monday kicked off the week on a distinctly poor note, dropping 40.72 points or 1.4 per cent to 2,791.92, its lowest close since June 2012.