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Daily Debrief: What Happened Today
Markedly fewer businesses were formed in the final three months of last year compared to the corresponding period of 2014, according to the latest Singapore Business Formation Statistics Report released on Wednesday.
Singapore's life insurance business grew 9 per cent year on year to S$832.2 million in the fourth quarter of 2015 in total weighted new business premiums - a way to measure the growth of the life insurance industry - lifted by sales of non-linked weighted single-premium plans.
Singapore easily trumped other Asia-Pacific economies in the latest ranking of various markets' intellectual property environment done by the US Chamber of Commerce.
AP Moeller-Maersk A/S reported an 84 per cent plunge in 2015 profit after its oil unit was hit by lower energy prices and its container division got squeezed between sluggish trade growth and overcapacity.
Japanese stocks plunged for a second day as investors rushed to the safety of the yen while concerns that margin calls were triggering automatic selling of shares also weighed on sentiment.
The STI Today
The Straits Times Index (STI), having inexplicably shot up 64 points on Friday before the Chinese New Year holidays, on Wednesday collapsed 41.11 points to 2,582.10 on the first day of trading after those holidays.