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Daily Debrief: What Happened Today
Headline growth for Singapore's economy in the first quarter of this year was largely within expectations with a 1.8 per cent year-on-year expansion, as manufacturing posted a better showing than predicted earlier while the services sector slipped.
- Singapore's total trade in Q1 plunges 9.7%; NODX down 9%
- Singapore's services sector expands 1.4% in Q1, offsetting manufacturing's 1% decline
- Singapore growth fundamentals remain anaemic
- 2016 growth to be 'broadly similar' to 2015 as conditions worsen slightly: MTI
The Singapore Exchange (SGX) confirmed that it has entered into exclusive discussions to buy maritime information provider Baltic Exchange in London.
French container shipping group CMA CGM expects to announce soon a voluntary general cash offer for its proposed S$3.4 billion acquisition of Singapore-listed Neptune Orient Lines (NOL) after receiving the regulatory clearance from the Chinese government for the takeover bid.
Traffic at Singapore's Changi Airport rose 9.2 per cent year on year in April as the airport handled 4.79 million passengers.
Singapore Post deputy chairman Goh Yeow Tin will resign from June 24, becoming the latest board member of the postal carrier to step down.
Flooring specialist Jason Holdings has suspended chief executive Jason Sim and operations director New Sze Wei over allegations of improper transactions.
The STI Today
Wall Street's Tuesday rally helped push the Straits Times Index (STI) up 16.43 points to 2,766.66 on Wednesday, part of a region-wide bounce that saw the Hang Seng Index gain 2.7 per cent and the Nikkei 1.6 per cent.