Daily Debrief: What Happened Today

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Singapore Q2 GDP plunges by 13.2% in worst quarter on record

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.

Planners closely watching fiscal, monetary policy as Singapore enters worst recession

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 'not returning to a pre-Covid-19 world': Chan Chun Sing

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.

Singapore non-oil exports tipped to expand 3-5% in 2020; worst-case scenario for world trade now unlikely

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.

24,000 placed under SGUnited package so far; MOM to give weekly updates on job situation

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.

Sembcorp, Sembmarine shareholders vote overwhelmingly in favour of demerger at EGM

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.

SGX expands Asian equity derivatives, to launch 13 futures in August, September

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.

Singapore condo resale volume nearly doubles in July: SRX

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.

Corporate earnings

The STI today

STI sheds 0.05% amid GDP plunge

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.