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Daily Debrief: What Happened Today
Private-sector economists have further lowered their 2019 growth forecast for Singapore to 2.1 per cent, down from 2.5 per cent, in the Monetary Authority of Singapore's latest quarterly survey of professional forecasters, released on Wednesday.
Singapore retail sales were down 1.8 per cent year on year in April, deepening from March's 1 per cent fall and worse than economists' expectations of a 0.2 per cent decline, according to a Department of Statistics (Singstat) release on Wednesday.
Grab, South-east Asia's most valuable startup, is exploring a move into Singapore banking as regulators in the South-east Asian city-state consider allowing online-only banks, four people with knowledge of the process said.
Challenger Technologies minority shareholder Pangolin Investment Management said on Wednesday that it is close to obtaining votes from the 10 per cent of shares required to block Digileap Capital’s S$183 million exit offer for the electronics retailer.
Rents for private non-landed homes were down 0.3 per cent in May from April, while rents for HDB flats rose slightly by 0.1 per cent, according to flash data from real estate portal SRX on Wednesday.
Two freehold commercial shophouses located separately at 148 Neil Road and 114 Jalan Besar have been put up for sale via an expression of interest exercise, exclusive marketing agent CBRE said on Wednesday.
The STI Today
Singapore equities picked up from where they left off on Tuesday, trading higher in the early session before the weight of US-China trade concerns - lingering in the background after the recent rally - and protests in Hong Kong dented investor sentiment. The Straits Times Index (STI) closed at 3,207.74, down 1.84 points or 0.06 per cent