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Daily Debrief: What Happened Today
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FORECASTERS from the Ministry of Trade and Industry (MTI) have once more tightened their projection for the pandemic-driven full-year recession expecting a contraction of between 5 per cent and 7 per cent, compared with 4 per cent to 7 per cent before.
THE Singapore government will soon unveil plans to help the ailing economy, including an update from Deputy Prime Minister Heng Swee Keat on fiscal support measures.
SINGAPORE cannot afford to wait out the coronavirus crisis, as permanent changes mean that there will be no going back to a pre-Covid-19 economy.
FORECASTS for trade growth in 2020 have been adjusted for the third time, this time with Singapore's non-oil domestic exports (NODX) tipped to grow 3 to 5 per cent year on year while total trade is likely to fall less sharply, by -10 to -8 per cent.
FUTURE updates will highlight opportunities for jobseekers and include other key employment indicators such as "cost-saving measures adopted by companies", to keep the public informed, the MOM said in a press statement on Tuesday morning.
SHAREHOLDERS of Sembcorp Marine (SMM) and Sembcorp Industries (SCI) have voted overwhelmingly in favour of the three inter-conditional resolutions at the extraordinary general meetings (EGMs) for the proposed S$2.1 billion recapitalisation for the offshore and marine (O&M) engineering group, and a demerger from each other that will result in Temasek Holdings having a direct stake in the marine arm.
THE new futures offer benchmarks including Indonesia, Malaysia, the Philippines, Taiwan, Thailand and Vietnam, meeting customers' increasing demand for institutional-grade exchange solutions in Asia, the Singapore bourse added.
PENT-UP demand and a surge in HDB upgraders entering the market nearly doubled the resale volume of non-landed private homes in Singapore in July; 978 units were resold, up from the 496 units resold in June 2020.
The STI today
THE Straits Times Index (STI) ended the first trading day of the week in the negative territory, shedding 1.36 points or 0.05 per cent to close at 2,544.15.