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Daily Debrief: What Happened Today

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In the first case before the Singapore courts associated with scandal-hit German payments company Wirecard, Singaporean R Shanmugaratnam has been slapped with four charges of falsifying letters that stated bogus balances held by his company’s accounts. 

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First Singaporean man charged over Wirecard scandal

IN the first case before the Singapore courts associated with scandal-hit German payments company Wirecard, Singaporean R Shanmugaratnam has been slapped with four charges of falsifying letters that stated bogus balances held by his company’s accounts. 


Singapore Business Federation urges companies to consider retrenchment only as a last resort

THE Singapore Business Federation (SBF) has urged employers to protect the Singaporean core and retain talent to grow business opportunities, while leaving retrenchment as a last resort to manage manpower costs.


MAS nudges finance firms to cap dividends, as it did for Singapore banks

THE Monetary Authority of Singapore (MAS) on Friday urged finance companies incorporated in Singapore to cap their fiscal 2020 total dividends per share at 60 per cent of fiscal 2019's level, the same way the regulator called for the Singapore banks to do so.


Food ordering startup Eatsy shutters operations

BEFORE it closed down in April, Eatsy had about 20 staff in Singapore and Indonesia and these employees received help in transitioning to other companies, founder Shaun Heng told The Business Times


Quarz, Black Crane to vote against Sabana-ESR merger

THE funds and entities that both Quarz and Black Crane act for and advise collectively own more than 10 per cent of the units of Sabana Reit.


MUFG Bank and Israeli fintech to launch startup financing joint venture in Singapore

JAPAN’S MUFG Bank is set to launch a joint venture (JV) with an Israeli fintech in Singapore this year to provide debt financing to Asia-Pacific startups, especially those unable to access such funding from traditional financial institutions.


Corporate earnings


The STI today

STI closes 0.53% lower on Friday as Trump takes fire at China tech

THE Straits Times Index (STI) fell 13.59 points or 0.53 per cent to 2,545.51 on Friday as US president Donald Trump's growing attack on the Chinese tech sector sent Asian stock indices lower, while punters continued to hope for a US stimulus package to keep the global economic recovery on track.

 

 

 

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