Daily Debrief: What Happened Today
Stories you might have missed
SIA cuts all rank-and-file staff's pay by 10%, in talks with unions on more measures
SINGAPORE Airlines (SIA) has implemented more measures to slash costs, including bigger pay cuts for the bosses, a 10 per cent salary reduction for other employees, and early retirement for pilots and ground staff, The Business Times understands.
Singapore, Malaysia agree to resume RTS Link project; due to operate by end-2026
THIS marks the resumption of the Johor Bahru-Singapore Rapid Transit System (RTS) Link project, which had been suspended since April 1, 2019 at Malaysia's request.
Singapore firms glum about Q3 prospects as Covid-19, US-China tensions stymie recovery
SERVICES and manufacturing companies remain gloomy about their prospects, as the coronavirus pandemic forces Singapore into an unprecedented recession.
MAS to extend US$60b swap facility with US Fed
THE Monetary Authority of Singapore (MAS) announced on Thursday that it will continue to provide US dollar (USD) through the extension of the US$60 billion swap facility with the US Federal Reserve through March 31, 2021.
Singapore bank lending extends fall in June for fourth consecutive month
BANK lending in Singapore continued its slide for the fourth consecutive month in June, dipping 0.7 per cent from the previous month to come in at S$680.36 billion, preliminary data from the Monetary Authority of Singapore.
Corporate earnings
The STI today
STI down 1.9% over the week on earnings declines and misses
AS the impact of Covid-19 becomes clearer, with more companies posting earnings declines and misses, the Straits Times Index (STI) on Thursday also fell 43.63 points or 1.7 per cent to 2,529.82.
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International
Xi tells Blinken US, China should be 'partners, not rivals'
Indonesia’s push for regional economic integration to continue under Prabowo: Vivian Balakrishnan
Outgoing Singapore, Indonesia leaders to hold their final retreat in Bogor on Apr 29
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing