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Daily Debrief: What Happened Today
GIC has sold just under half of its stake in Swiss bank UBS Group for a loss, the Singapore sovereign wealth fund announced on Tuesday.
Developers' hunger for Singapore land is adding to signs that the city's housing market is making a comeback after three years of price declines.
After a savage three-day sell-off, Noble Group Ltd shares climbed on Tuesday even as Moody's Investors Service joined S&P Global Ratings in highlighting the embattled commodity trader's finances, saying that estimated liquidity isn't sufficient to cover debt due by mid-2018.
The top EU court ruled on Tuesday that a free trade agreement between the European Union and Singapore cannot fully enter force until ratified by all EU countries, in a legal opinion that could slow down other planned EU trade deals.
An MAS-backed fintech firm, CCRManager Pte Ltd, on Tuesday launched what it says is the first digital platform for the distribution of international trade financing, transactions now handled mainly by phone and email.
The STI Today
On Tuesday, the role of prime index mover was assumed by Jardine Matheson, when it plunged US$2.81 or 4.3 per cent to US$62.29, accounting for 10 points out of the Straits Times Index's (STI) 36.5 points or 1.12 per cent loss to 3,227.71.