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Daily Debrief: What Happened Today
There is a need for governments to take off their macroeconomic hats and put on their microeconomic hats in ensuring that every project has a pay-off that justifies the cost, says Deputy Prime Minister Tharman Shanmugaratnam in his opening remarks at the World Bank-Singapore Infrastructure Finance Summit 2016.
Non-oil domestic exports (NODX) slipped back into negative territory in September, posting a 4.8 per cent year-on-year decline after a flat month in August.
Singapore Press Holdings (SPH) will be merging My Paper and The New Paper (TNP) to form a revamped TNP which will be distributed free from December following a comprehensive review of its core media business.
Singaporeans' inflation expectations for the year ahead have remained at a five-year low, weighed down by subdued global and domestic demands.
Singapore will study the possibility of bringing the gold benchmark pricing in London to users in Asia, in a move that would also allow market participants in the world's top consuming region to help set the price of bullion.
Ascott, CapitaLand's wholly owned serviced residence business unit, has clinched contracts to manage three new properties in Saudi Arabia, including its first in the Islamic holy city of Mecca.
Cedar Strategic Holdings (CSH) on Monday announced that it has entered into a sale-and-purchase agreement, under which it will acquire all of the issued and paid-up shares of DAS for approximately US$24.9 million.
The STI Today
The Straits Times Index on Monday probably enjoyed a late bout of short-covering that lifted it from a double-digit loss to a net gain of 1.83 points at 2,817.07, but the broad market was weak with 145 rises versus 235 falls.