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Daily Debrief: What Happened Today

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In line with the weaker global growth outlook, the Singapore economy is now expected to expand 1-2 per cent this year, after the Ministry of Trade and Industry (MTI) on Thursday narrowed down its previous growth forecast of 1-3 per cent.

Singapore Economic Data

Singapore narrows 2016 GDP growth forecast to 1-2% as economy expands 2.1% in Q2 from a year ago

The new official projection takes into account additional downside risks such as Brexit-related uncertainties, and the potential for spiking debt defaults in China amid rising corporate credit levels there.

Majority of Singaporeans not financially prepared for life's crises: survey

The survey by insurer Prudential shows that in the past five years, about 70 per cent of Singaporeans did not increase their life insurance cover to keep pace with the rising income levels.

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Rents for non-landed private homes dip in July: SRX Property

Rents for non-landed private homes in Singapore remained on a slide in July, marking a 0.4 per cent decline from a month ago and a 4.8 per cent fall from a year ago.

Hot stock: SembMarine queried again as share price rises 6%

SembMarine was queried by the Singapore Exchange (SGX) again - for the second time in six months - after its share price rose as much as 6.1 per cent to an intra-day high of S$1.38 on Thursday.

Singapore Sling: Raffles said near deal for first London Hotel

Raffles Hotels & Resorts is the preferred operator of a hotel in London's Old War Office, once occupied by Winston Churchill, according to two people familiar with the plans.

Pacific Radiance chairman had pared stake in Swiber before the debacle started

Pacific Radiance executive chairman Pang Yoke Min, who owns a substantial stake in beleaguered Swiber Holdings, had from July 12 to 25 disposed of more than three million Swiber shares for S$476,477.59.

World Bank suffering 'leadership crisis', staff say

Staff at the World Bank delivered a broadside against its sitting President this week, saying the global lender faced a "crisis of leadership" and risked irrelevance on the world stage.

Corporate Earnings

The STI Today

Singapore shares close lower; STI's loss capped by jump in Singtel

A S$0.07 rise in Singtel to S$4.27 on Thursday helped offset the effect on the Straits Times Index (STI) of losses in all three banks. Also helping were positive sessions in Hong Kong and the Dow futures market, with the latter gaining about 50 points, indicating a likely firm Thursday for Wall Street. The net effect was the STI's loss was capped at 5.75 points at 2,869.82, which came with average turnover of one billion units valued at S$1.02 billion. Singtel's support amounted to about seven points.

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