Daily Debrief: What Happened Today
Stories you might have missed
DBS sees more provisions ahead in oil and gas portfolio
DBS chief Piyush Gupta said on Friday that specific provisions for its oil and gas portfolio could be higher than previous guidance.
MAS responds to Iceberg on Noble Group
In a statement, MAS said that it "will not hesitate to take the necessary enforcement actions" should it uncover any violations of regulations through its own investigations.
Gong Cha to return to Singapore
Bubble tea brand Gong Cha announced its return to Singapore, this time under the leadership of Kang Puay Peng, the ex co-founder and managing director of successful soya milk brand Mr Bean.
MAS proposes enhancement of deposit insurance coverage to S$75,000
The Monetary Authority of Singapore (MAS) on Friday released a public consultation on its proposals to enhance the Deposit Insurance (DI) Scheme, with a key proposal to increase coverage to S$75,000 from the current S$50,000.
Oxley buys 7.11% of UEL for S$120.3m, but will not be making competing offer for UEL
Oxley said the acquisition was undertaken as part of its investments in income generating assets, and is in line with the investment objective of the company.
Corporate Earnings
The STI Today
Singapore shares finish week lower weighed by bank losses
Here, banks have once again been the main drivers of the Straits Times Index, in particular DBS and OCBC. On Friday, weakness in all three meant the index nursed a 16.4 point loss at 3,326.52, a fall that meant the STI dropped about four points for the week.
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International
Outgoing Singapore, Indonesia leaders to hold their final retreat in Bogor on Apr 29
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027
China passes tariff law as tensions with trading partners simmer
Blinken meets Chinese counterpart Wang Yi in Beijing
South Korea’s public finances no longer a credit rating ‘strength’: Fitch
UK consumer confidence improves as inflation and taxes fall