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Daily Debrief: What Happened Today
Noble Group Ltd, the commodity trader that's struggling for survival, has a new substantial shareholder after an Abu Dhabi fund built up a 5 per cent stake over two days. The stock rallied in Singapore.
Singapore's headline inflation in May strengthened to 1.4 per cent year-on-year due to the absence of rebates, while core inflation fell slightly to 1.6 per cent.
Singapore's manufacturing output rose 5 per cent in May 2017 compared to a year ago - lower than market consensus. Excluding biomedical manufacturing, output grew 13.1 per cent.
A Chinese consortium and two private equity firms are likely to submit bids next week to buy Singapore-listed warehouse operator Global Logistics Properties Ltd (GLP), people with direct knowledge of the matter said on Friday.
Singapore is extending the length of roads that driverless vehicles can be tested on by more than four times, in the hopes of speeding up technology development.
Singapore-listed Dairy Farm International Holdings Limited, which operates Cold Storage, 7-Eleven and Giant stores here, said its chief executive officer Graham Allan will step down in August after five years of service.
Property play UOL Group is poised to buy investment holding company Haw Par Corporation's stake in another property play, United Industrial Corporation (UIC), via a share swap.
The STI Today
Singapore shares ended the day on a glum note even though the Dow futures, which the index tracks closely, was 20 points up just before 5 pm.