Daily Debrief: What Happened Today

Singapore's inflation up in May, in line with economists' expectations

Singapore's headline inflation rose in May with further increases expected over the course of the year. The consumer price index (CPI) was up 0.4 per cent year-on-year, in line with economists' expectations and picking up the pace from April's 0.1 per cent rise, according to a Department of Statistics statement on Monday.

ARA acquires full control of Reit manager and property manager of Cache Logistics Trust

ARA Asset Management (ARA), through its wholly owned unit ARA Cache (Holdings) Pte Ltd, has entered into a share purchase agreement (SPA) with CWT Pte Limited (CWT) to acquire all of CWT's shares in the Reit manager of Cache Logistics Trust. It is also concurrently acquiring the property manager of Cache Logistics Trust through a separate entity.

Dalvey Court launches tender with S$160m reserve price

Dalvey Court owners have put the condominium development near to the Singapore Botanic Gardens up for collective sale with a reserve price of S$160 million, according to a press statement on Monday.

oBike to stop bike sharing in Singapore due to new regulations, viability issues

Bicycle sharing company oBike has become the second dock-less bicycle business to shutter its Singapore operations rather than apply for a licence from the Land Transport Authority (LTA).

Noble Group ups stake in ASX-listed East Energy Resources in satisfaction of debt

Commodity trader Noble Group on Monday said its indirect wholly owned subsidiary, Maylion has acquired an additional 52.5 per cent shareholding interest in coal exploration and development firm, East Energy Resources (EER).

Vard clinches contract to build 3 Norwegian coast guard vessels for over 5b kroner

Shipbuilder Vard Holdings has clinched a contract to build three coast guard vessels for the Norwegian Defence Materiel Agency (NDMA) for more than 5 billion Norwegian kroner (S$839 million), it announced on Monday afternoon.

StarHub TV axes channels from Discovery, garners 7 new channels

StarHub said it will discontinue the suite of television channels from Discovery Networks, following unsuccessful negotiations between the two companies. This will be done in two phases on June 30 and Aug 31.

The STI Today

Singapore stocks close lower, rattled by escalating trade war jitters

Singapore shares kicked off the week closing lower on Monday, as concerns over an escalating trade war continues to haunt investors. After opening at 3,279.53, the benchmark Straits Times Index (STI) eased to close at 3,260.84, down 0.81 per cent, or 26.56 points, from Friday's close.