Daily Debrief: What Happened Today

Stories you might have missed

MAS sees 'highly uncertain' global outlook ahead amid Covid-19 crisis

MAS managing director Ravi Menon on Thursday said that recovery will be uneven across countries, across industries, and across time and "while a strong short-term growth bounce is plausible, the longer-term recovery is likely to be weak and gradual."

ESR-Reit and Sabana Reit propose merger

THE two trusts on Thursday announced a proposed merger, by way of a trust scheme of arrangement, under which ESR-Reit will acquire all units of Sabana Reit in exchange for new units in ESR-Reit.

Skyscanner to cut Singapore marketing headcount amid global layoffs

SOCIAL networking site LinkedIn lists over 120 Skyscanner employees in Singapore, in roles ranging from marketing and talent acquisition to advertising, commercial operations, partnerships, software engineering and data analytics.

Glove counters on SGX see selloff after bullish run

ONE analyst The Business Times spoke to on Thursday noted a "very fierce trading pattern" among the glove counters and "a lot of optimism was priced in, prices ran up well ahead of valuations and subsequently corrected down."

Steeper falls likely for Singapore retail rents in H2, dragged by more vacancies: C&W

VACANCIES from the second quarter of 2020 are expected to put further downward pressure on retail rents in Singapore as more businesses shutter for good, said Cushman & Wakefield (C&W) in a report on Thursday.

Antler invests US$1.5m in 15 new startups

THE startups hail from Antler's fourth Singapore programme and recent initiative to fund solutions addressing the impact of the Covid-19 pandemic.

Kimchi bacteria maker gives Singapore listing another shot

A SOUTH KOREAN steelmaker that controls a kimchi lactobacillus (lactic acid bacteria) biotech firm is trying again to secure a listing in Singapore for the latter, via the judicial management process of existing listed firms.

Corporate earnings

The STI today

STI slides 25.23 points to 2,623.67 on economic-recovery concerns THE benchmark Straits Times Index ended the day at 2,623.67, down 25.23 points or 0.95 per cent.