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Daily Debrief: What Happened Today

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The Monetary Authority of Singapore (MAS) and the Ministry of Trade and Industry said external sources of inflation are likely to be benign for the rest of 2019, and global oil prices are expected to remain below 2018's average while food prices should pick up only slightly on average.

Singapore's headline inflation edges up in May, core inflation holds steady

Higher private transport, retail and food inflation bumped Singapore's headline inflation higher to 0.9 per cent in May, outstripping economists' estimates of 0.6 per cent and rising from 0.8 per cent in April, according to consumer price index (CPI) figures released by the Department of Statistics on Monday.

Hour Glass co-founder Jannie Chan's appeal against bankruptcy dismissed

Jannie Chan Siew Lee had her appeal against a bankruptcy order dismissed by the High Court on Monday. The co-founder of mainboard-listed luxury timepieces retailer The Hour Glass will not be able to put the bankruptcy order on hold as a result. 

International Cement fails to get SGX nod for US$104.4m acquisition of African firm

The Singapore Exchange (SGX) has rejected International Cement Group’s (ICG) US$104.4 million proposed purchase of a company in Namibia and ordered it to commission pre-deal anti-money laundering due diligence on the source of funds for any future major transactions or very substantial acquisitions.

Circles.Life launches its first overseas mobile services in Taiwan

Singapore telco startup Circles.Life, flush with fresh funds, rolled out mobile services in its first overseas market on Monday after a soft launch.

Union Gas assessing disruption to LPG supply after massive fire at supplier's Jurong facility

Catalist-listed gas supplier Union Gas Holdings is assessing and monitoring the impact of disruption to its supply of bottled liquefied petroleum gas (LPG) cylinders caused by an industrial fire at a supplier’s facility on Friday evening.

Office floor at Sim Lim Tower up for sale with S$15m asking price

A freehold strata office floor at Sim Lim Tower in Jalan Besar has been put up for sale by tender with an asking price of S$15 million, marketing agent Edmund Tie & Company (ET&Co) said on Monday. 

The STI Today

Singapore shares drop 0.3% on Monday amid cautious trading session in Asia

Lacking catalysts, the local equities market got the week off to a cautious start, and like its regional peers, saw muted market action. The Straits Times Index (STI) finished at 3,311.53, down 9.87 points or 0.3 per cent.