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Daily Debrief: What Happened Today
Haven buying of the Singapore dollar amid global market turmoil has pushed a gauge of its strength to unprecedented levels, putting pressure on the city's central bank to do more to support the economy.
DBS said it was the first time a Chongqing corporate has issued offshore renminbi bonds in Singapore and is able to repatriate the funds raised in full.
Offshore and marine construction services provider Swiber Holdings said on Friday its US$710 million project in West Africa will not be able to progress as expected due to weakness in the oil and gas sector.
United Global, a Singapore-based independent lubricant manufacturer and trader, made its debut on Catalist on Friday, trading higher than its initial public offering (IPO) price.
The run on British property funds has drawn attention to the vulnerability of the commercial real estate sector, largely funded by domestic banks and building societies but increasingly by foreign banks and insurers.
The STI Today
According to conventional wisdom, it wasn't Brexit fallout that dragged the Straits Times Index 15.13 points down on Friday to 2,847.04 but a 5 per cent plunge in oil prices.