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Daily Debrief: What Happened Today
Noble Group Ltd said on Monday it completed a US$1.1 billion revolving borrowing base facility, which will be used by two of its subsidiaries - Noble Americas Corp and Noble Petro Inc - to fund their growing business requirements.
Barely two weeks after major supermarkets in Singapore pulled all paper products sourced from Indonesia-linked Asia Pulp & Paper Group (APP), RedMart, an online grocer, said it too will be following suit.
Singaporeans polled in September were swayed by weak global growth prospects, which drove inflation expectations below their earlier one-year inflation expectation of 3.35 per cent recorded in June.
The new headquarters will be based in a 11,000 square-metre facility which will open next year and will house nearly 200 scientists, engineers and business leaders, growing to over 300 employees by 2020. It will be part of DuPont's global network of 13 innovation centres and 150 research and development centres worldwide.
Singapore may have held on to its pole position among Asian countries for a third consecutive year, but its retirement savings system has been downgraded in the 2015 Melbourne Mercer Global Pension Index.
China's economic growth eased to 6.9 per cent in the third quarter from a year earlier, beating expectations but still the slowest since the global financial crisis, putting pressure on policymakers to roll out more support measures as fears of a sharper slowdown spook investors.
The STI Today
The Straits Times Index on Monday lost 6.11 points at 3,024.5 in low volume of 1.7 billion units worth S$747.3 million. China's weak third quarter GDP numbers probably played a part, as did mixed sessions for Hong Kong, China and the Dow futures.