Daily Debrief: What Happened Today
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Singapore has a property glut that could take years to clear
SINGAPORE has an overhang of 31,948 units as of Sept 30 and sales have averaged about 2,500 homes per quarter this year which will take almost four years to clear the backlog.
Centurion to acquire its 2nd student dorm in Nottingham for £15.1m
THE asset, dwell Archer House - located at 14-22 Castle Gate, is in the city centre and near the University of Nottingham and Nottingham Trent University.
Koon Holdings, Penta-Ocean Construction end joint venture
FOLLOWING the move, Koon Holdings and KCT will no longer need to provide corporate guarantees in respect of the JV - significantly reducing their contingent liabilities and obligations.
Over 100 overseas digital service providers register for GST ahead of Jan 1 deadline: Iras
THE Overseas Vendor Registration (OVR) regime levels the playing field in GST treatment for both local and overseas services, Iras said.
Construction of Jurong West, Bahar Junction stations on Jurong Region Line to start in 2020
THE contract, valued at around S$210 million, was awarded to China Railway 11 Bureau Group, the LTA said.
The STI today
Singapore shares buck regional trend on Monday, STI down 0.5% THE Straits Times Index struggled for direction, spending most of the session hovering around last Friday's close before slipping late to close at 3,179.82, a decline of 14.89 points, or 0.5 per cent.
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International
US law firm Mayer Brown to split from Hong Kong partnership
US labour costs rise by most in a year as productivity cools
US trade deficit narrows slightly in March
Canada posts surprise trade deficit as gold exports fell in March
OECD upgrades global growth outlook as US outperforms
US weekly jobless claims unchanged; layoffs decline in April