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Daily Debrief: What Happened Today
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THE Monetary Authority of Singapore (MAS) is slightly increasing the pace of the Singapore dollar's appreciation in keeping with a "modest and gradual appreciation path... that will ensure medium-term price stability", marking the central bank's second consecutive tightening at its half-yearly monetary policy review.
SINGAPORE'S economic growth grew at a slower pace of 2.6 per cent year on year in the third quarter of 2018 compared to the 4.1 per cent expansion seen in the previous quarter, according to advance estimates released by the Ministry of Trade and Industry on Friday morning.
THE KYC utility would have created a more efficient way of checking against sanctions and blacklists, and could have fundamentally changed the way banks labour through documents to block illicit funds out of money laundering or terrorism financing activities from being channelled through the banking system here.
SINGAPORE home prices may rise as much as 10 per cent by the end of next year and are on track to double by 2030 as faster income growth overpowers recent property curbs and higher interest rates, according to Morgan Stanley.
EMBATTLED water treatment firm Hyflux Group said on Friday that only one of two parties approved by regulatory authorities has put in a bid for its Tuaspring water and power project, and that the bid is being assessed.
SINGAPORE retail sales fell for a second month in August, again on the back of lower vehicle sales, according to figures released by the Department of Statistics on Friday.
UNITED Overseas Bank Ltd is reviewing its insurance business, including an existing partnership with Prudential Plc, after South-east Asia witnessed a wave of lucrative distribution deals, people familiar with the matter said.
The STI Today
SHARE prices on the Singapore bourse recovered slightly from Thursday's steep sell-off to close higher on Friday, with the key Straits Times Index up 21.78 points, or 0.71 per cent, to 3,069.17.