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Singapore Wrap Tuesday
The Singapore economy grew a better-than-expected 2.6 per cent year-on-year in the first quarter of 2015, despite a contraction in the manufacturing sector, the Ministry of Trade and Industry (MTI) said on Tuesday morning.
- Singapore's GDP growth revised down to average 2-4% per year from now to 2020: MTI
- Singapore industrial output falls 8.7% y-o-y in April, largest fall in over 2 years
- Singapore's Q1 non-oil domestic exports up 4.8% from a year ago
- Rise in hawker food prices due more to raw materials than rentals: MTI study
Tokyo-listed Mitsui & Co, one of Japan's largest general trading companies, has invested in local apparel retailer Triple Pte Ltd, both parties announced on Tuesday.
Phoon Huat & Co, the Singapore company that's been selling baking ingredients such as pie fillings and confectioners' sugar since 1947, is seeking a buyer, people with knowledge of the matter said.
The key three-month Sibor or Singapore interbank offered rate has fallen almost 20 per cent from the year high of 1.027 per cent on April 9.
Singapore's Far East Organization has teamed up with its Hong Kong-listed sister company Sino Land for a A$445.33 million (S$467.72 million) acquisition of The Westin Sydney and its adjoining Heritage Retail podium.
The STI Today
The Straits Times Index closed flat on Tuesday, falling marginally by 0.9 points to 3,459.98.