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Daily Debrief: What Happened Today

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Singapore's central bank pulled back on its exchange rate-based monetary policy on Monday morning, in line with market expectations, as the deadly Covid-19 pandemic looked set to keep battering economies globally.

Stories you might have missed

MAS eases Singdollar appreciation to 'zero slope', lowers mid-point of policy band in one-two blow

THE Monetary Authority of Singapore (MAS) has returned the Singapore dollar to a neutral stance - easing again the pace at which the currency can strengthen - after a slight reduction in the rate of appreciation in October 2019.


National Wages Council recommends lower MVC or 10% of basic pay, if cuts needed

IF wages must be cut, the National Wages Council (NWC) is recommending that the Monthly Variable Component (MVC) be adjusted downwards, the extent of which hinges on the company's situation and any key performance indicators or guidelines agreed with unions.


SIA to let staff to take up temporary placements outside the group

Faced with a long, harsh "Covid-19 induced winter", Singapore Airlines (SIA) will press ahead with efforts to contain costs after announcing a massive cash call last week, and will allow employees to take up temporary placements outside the SIA Group following major cuts to flight operations.


ComfortDelGro Taxi extends cabbie relief, to sink into red for fiscal 2020

LAND transport company ComfortDelGro Corporation is spending S$80 million to extend its daily rental relief for cabbies until Sept 30 amid worsening economic conditions and enhanced Covid-19 measures. 


ASTI CEO withdraws resignation amid 'challenging times' for company

ASTI Holdings chief executive officer (CEO) and executive chairman Michael Loh Soon Gnee has withdrawn his resignation after the company requested for him to lead it amid "challenging times" caused by the coronavirus pandemic.


The STI today

STI closes 4.5% lower on Monday

Singapore’s Straits Times Index (STI) fell on Monday after relief from last week’s global fiscal support measures faded with uncertainty over the length of the pandemic remaining an overhang on sentiment.
 

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