Daily Debrief: What Happened Today
Stories you might have missed
Singapore on track to transition from benchmark behind S$3.5t SGD derivatives market
SINGAPORE is aiming to build active derivatives trading off a transition benchmark rate - known as the Singapore Overnight Rate Average (Sora) - by the end of this year, as the Republic keeps on track to shift from the Sing-dollar Swap Offer Rate (SOR) that underpins the S$3.5 trillion Singdollar (SGD) derivatives market.
DBS says recession 'imminent' for Singapore, slashes GDP growth forecast
DBS Group Research has joined a growing number of economy watchers warning of a full-year recession in Singapore and is also predicting that the Republic's small and open economy will likely be in a technical recession by June.
OCBC expects Singapore Airlines to need external funding due to virus hit
IN a credit update on Thursday, OCBC lowered SIA's issuer profile again, this time to Neutral (5) from Neutral (4), due to the "swift deterioration in industry conditions".
BreadTalk seeks noteholder approval to waive technical default for S$100m notes
BREADTALK Group has launched a consent solicitation exercise (CSE) to get noteholders' approval to waive a technical default for S$100 million 4 per cent fixed-rate notes due 2023, the company said on Wednesday.
MAS slaps bans on former insurance agents, bank staff for fraud and dishonest conduct
THE Monetary Authority of Singapore (MAS) on Thursday said it has issued prohibition orders ranging from six to 12 years on six individuals, who were formerly insurance agents and bank employees.
Corporate earnings
The STI today
STI's losing streak runs into 7th day, falls 4.7% on Thursday THE blue-chip index closed 114.62 points or 4.7 per cent lower at 2,311.00.
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International
Sri Lanka’s economy expected to grow 3% in 2024, central bank says
Yellen says US can bring inflation down without hurting jobs
US dollar briefly falls versus yen after GDP data
US weekly jobless claims unexpectedly fall
US economic growth slows more than expected in Q1
Malaysia ex-PM Mahathir facing anti-graft probe in a case involving his sons