Daily Debrief: What Happened Today
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MTI downgrades Singapore's 2019 economic growth forecast to 1.5-2.5 per cent on weak outlook
THIS comes as the economy saw growth of 1.2 per cent in the first quarter of 2019 - the lowest growth rate in almost 10 years.
2019 growth forecast for Singapore non-oil exports cut to -2 to 0%; fell 6.4% in Q1
BOTH the electronic and non-electronic NODX registered declines of 17.2 and 2.6 per cent respectively.
Singdollar to hit 1.40 to USD later this year as economy slows: DBS
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PHILIP Wee, DBS Bank FX strategist said DBS has forecast the USD/SGD to hit 1.40 by 3Q19.
Singapore commercial property investment jumps 72% to US$1.9b in Q1; bucks regional downtrend: RCA
"SOLID occupier demand in Singapore is also allowing investors to lock in higher rents," said Petra Blazkova, senior director of Apac analytics at RCA.
Fullerton Fund Management launches series of multi-asset funds
THE Fullerton SGD Heritage Funds comprise three multi-asset solutions with varying asset allocation and income payouts and are exclusively distributed by Standard Chartered Bank.
SGInnovate, RB Capital back AI startup Prowler.io's US$24m funding round BRITISH artificial-intelligence (AI) firm Prowler.io has raised US$24 million from strategic investors including SGInnovate, the Singapore government's innovation platform, and Singapore-based RB Capital, valuing the startup at US$100 million.
The STI today
Growth fears, trade worries send Singapore shares down 0.7% on Tuesday THE Straits Times Index (STI) closed at 3,183.26, down 22.20 points or 0.7 per cent.
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