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Daily Debrief: What Happened Today
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TWO former employees of crude oil products supplier Coastal Oil Singapore were charged in court on Friday for allegedly cheating eight banks in Singapore and Hong Kong of more than US$340 million, according to court documents seen by The Business Times on Friday.
SINGAPORE'S Formula One race this year will be cancelled, after the Covid-19 pandemic put the brakes on construction activity and prompted restrictions on crowds.
BANK of Singapore, the private banking arm of lender OCBC, plans to grab a bigger share of the fast-growing family office business by expanding its investment products and targeting clients outside the region, its chief executive officer said.
TWO interested parties are looking to acquire shares in Utico, and if successful, the deal could value the United Arab Emirates-based utilities group at up to US$1.5 billion.
PCI, a Singapore electronics firm backed by Platinum Equity, has won a government contract to manufacture an initial batch of wearable contact tracing devices, as Singapore seeks to contain the spread of the virus amid a nationwide reopening.
FOLLOWING a three-year merger, Singapore law firm Harry Elias Partnership and global international law firm Eversheds Sutherland will part ways on June 30, the parties announced on Friday.
The STI today
AS CONCERNS mount over a second wave of the virus and a slow economic recovery in the United States, stock markets went the opposite direction - down.