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Daily Debrief: What Happened Today
"Cumulatively for the first three quarters of this year, total employment grew by 16,200, which is the lowest growth since 2009," the Ministry of Manpower said in a press release on the Labour Market Report, Third Quarter 2015.
City Developments (CDL) has entered into a deal with Alpha Investment Partners, Keppel Land's property fund management arm, to create a joint office investment platform via its second Profit Participation Securities (PPS) transaction. This platform will acquire three of CDL's prime office assets with a total value of about S$1.1 billion. The three assets are: Central Mall (Office Tower) for S$218 million; 7 & 9 Tampines Grande for S$366 million; and Manulife Centre for S$487.5 million.
Developers sold a total of 759 private residential units in November, a 39 per cent uptick from 548 units sold in October and representing a 79 per cent jump from a year ago.
Standard Chartered has axed at least half a dozen oil and gas advisory banking roles in recent weeks, ending an eight-year attempt to build a global energy M&A team, people familiar with the matter told Reuters.
Singapore retail sales got a leg up from motor vehicle sales in October, rising 2.7 per cent year on year. Excluding motor vehicles, retail sales actually fell 4.6 per cent.
On Wednesday, the Federal Reserve, the US central bank, is expected to raise its federal funds interest rate for the first time in nearly 10 years. These are the things to know.
The STI Today
The Straits Times Index drifted within a narrow band before ending a net 0.48 of a point higher at 2,815.52 on Tuesday, ahead of the US Federal Reserve's Open Markets Committee (FOMC) meeting this week at which an interest rate hike is expected to be announced. Turnover was a thin 870.2 million units worth S$860 million and excluding warrants there were 184 rises versus 203 falls.