Daily Debrief: What Happened Today

Singapore central bank says trade woes spell more uncertainty for global economy

Growth in international trade is lagging global income for the first time in decades, spelling more uncertainty for the world economy, MAS chief Ravi Menon said on Thursday.

Layoffs in Singapore up in Q2, unemployment among degree-holders highest since 2009

Unemployment rate in Singapore rose to 2.1 per cent in the second quarter of 2016, compared to 1.9 per cent in the first quarter, the Ministry of Manpower (MOM) said on Thursday. The numbers have accounted for seasonality.

Singapore banks report Indonesians embracing tax amnesty to police

Private banks in Singapore are sharing with local police the names of clients embracing an Indonesian tax amnesty, people aware of the matter said, a move that could undermine the amnesty and damage the banks' business with their biggest client pool.

Executive condominiums are top-selling projects by developers in August: URA

Amid a lack of new residential project launches in August, executive condominiums (ECs) turned out to be best sellers.

Rickmers Maritime seeks restructuring as debt woes mount

A Singapore-based shipping trust that operates container ships is asking creditors for leniency on about US$253 million of debt, in the latest sign of debt woes in the industry and in the country.

ST Engineering CEO Tan Pheng Hock to step down

Singapore Technologies Engineering president and chief executive Tan Pheng Hock will step down from his position on Sept 30.

Apple says initial quantities of iPhone 7 Plus sold out

Supplies of the larger size of Apple's new phone have been exhausted in all shades, and the smaller iPhone 7 has also sold out in the new jet black colour, the company said.

The STI Today

Singapore shares close lower but off intraday lows

The Straits Times Index (STI) underwent a volatile session on Thursday when it first dropped 17 points to an intraday low of 2,791 before a late afternoon bout of short-covering helped it finish at 2,805.52, a nett loss of only 3.83 points. It was the STI's fourth consecutive loss, during which it has fallen 68 points or 2.4 per cent.