Daily Debrief: What Happened Today

Stories you might have missed

SIA cuts all rank-and-file staff's pay by 10%, in talks with unions on more measures

SINGAPORE Airlines (SIA) has implemented more measures to slash costs, including bigger pay cuts for the bosses, a 10 per cent salary reduction for other employees, and early retirement for pilots and ground staff, The Business Times understands.

Singapore, Malaysia agree to resume RTS Link project; due to operate by end-2026

THIS marks the resumption of the Johor Bahru-Singapore Rapid Transit System (RTS) Link project, which had been suspended since April 1, 2019 at Malaysia's request.

Singapore firms glum about Q3 prospects as Covid-19, US-China tensions stymie recovery

SERVICES and manufacturing companies remain gloomy about their prospects, as the coronavirus pandemic forces Singapore into an unprecedented recession.

MAS to extend US$60b swap facility with US Fed

THE Monetary Authority of Singapore (MAS) announced on Thursday that it will continue to provide US dollar (USD) through the extension of the US$60 billion swap facility with the US Federal Reserve through March 31, 2021.

Singapore bank lending extends fall in June for fourth consecutive month

BANK lending in Singapore continued its slide for the fourth consecutive month in June, dipping 0.7 per cent from the previous month to come in at S$680.36 billion, preliminary data from the Monetary Authority of Singapore.

Corporate earnings

The STI today

STI down 1.9% over the week on earnings declines and misses

AS the impact of Covid-19 becomes clearer, with more companies posting earnings declines and misses, the Straits Times Index (STI) on Thursday also fell 43.63 points or 1.7 per cent to 2,529.82.