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Daily Debrief: What Happened Today

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Singapore has overtaken the US to emerge as the top destination for overseas investments from China in this year's China Going Global Investment Index 2017.

Singapore overtakes US as most attractive destination for Chinese overseas investments: EIU report
SINGAPORE has surpassed the US to emerge as the top destination for overseas investments from China in this year's China Going Global Investment Index 2017.

Heng Swee Keat's comment leaves possibility of private wealth tax up in the air
THE possibility of a tax on privately held wealth surfaced on Thursday at the official opening of the new premises of Nanyang Technological University's Wealth Management Institute at one-north.

Fullerton to manage S$23b of NTUC Income assets in proposed strategic partnership
LOCAL insurer NTUC Income on Thursday announced a proposed strategic partnership to appoint Temasek-owned Fullerton Fund Management Company as the investment manager of its portfolio assets estimated at some S$23 billion.

Germany-based speciality chemicals firm Evonik sets up first Asia research hub in Singapore
EVONIK, a speciality chemicals company based in Germany, is building its first research hub in Singapore, with operations expected to commence in 2018.

HDB resale prices dip 0.1% in November but volume rises 11.2%: SRX Property
HDB resale prices continued to weaken, edging down 0.1 per cent in November from a month ago, while sales volume continued to strengthen with a 11.2 per cent increase, SRX Property flash estimates showed on Thursday.

Moody's sees stable outlook for banks
THE broad-based upturn in economic growth and improved solvency will underpin bank creditworthiness in the coming year but profitability will stay subdued, Moody's Investors Service said in a report on Thursday.

SGX proposes tweaks to strengthen disclosure rules
SINGAPORE'S bourse operator has zoomed in on the weak points in disclosure requirements under listing rules and proposed refinements that could improve transparency and accountability of companies.

First Sponsor partners shareholders CDL, Tai Tak to acquire Le Meridien Frankfurt Hotel
FIRST Sponsor Group Limited is making its first foray into Germany in partnership with its key shareholders City Developments Limited (CDL) and Tai Tak Estates Sdn Bhd to acquire the Le Méridien Frankfurt Hotel in Germany for about 85 million euros (S$135.9 million).

The STI Today

Singapore shares close 0.3% lower on Thursday
SHARES in the Singapore bourse trended downwards for the fourth straight session, with the key Straits Times Index losing 9.07 points or 0.3 per cent to finish at 3,388.14 on Thursday.