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Daily Debrief: What Happened Today
Singapore Economic Data
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.
- Singapore manufacturing grows 1.1% in Q2 from a year ago, but services sector slows
- Singapore's trade performance improves in Q2 but largely remains in negative territory
- Quick takes: Economists see slower GDP growth in H2, no change to monetary policy
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.
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.
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.
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 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.
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.
- Singtel's Q1 profit steady; revenue dips
- Ezion's Q2 net profit falls 31.5%, expects challenging conditions to continue into H2
- City Developments posts S$133.8m Q2 earnings, 32.4% jump in revenue
- Lower revenue, absence of fair value gain hit Nam Cheong's Q2 earnings
- Wilmar International posts first quarterly loss of US$220m for Q2
- Noble sinks into the red for Q2 on lower revenue
- Bukit Sembawang's Q1 earnings fall on lower profit recognition
- Cortina reports stronger bottom line for Q1
- Yanlord Land's Q2 net profit leaps 89%
The STI Today
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.