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Daily Debrief: What Happened Today
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SINGAPORE’S full-year economic forecast could be cut again, amid market fears of a looming recession, as second-quarter flash data out on Friday showed a much deeper slowdown than was feared.
- Big miss in Q2 GDP darkens technical recession clouds, raises odds of MAS easing: analysts
- Singapore not expecting full-year recession at this point, says DPM Heng Swee Keat
SINGAPORE'S retail sales slumped 2.1 per cent year on year in May, worse than April's 1.8 per cent but better than economists' predictions of a 3.0 per cent decline, according to data from the Department of Statistics (Singstat) on Friday.
OFFICIALS from the Monetary Authority of Singapore (MAS) made the request last month to wealth managers, including DBS and a unit of Oversea-Chinese Banking Corp, the people said, declining to be identified given the sensitivity of the matter.
MANY recently laid-off bankers in the city are finding that cost-cutting and a demand for Mandarin speakers have diminished the opportunities for expats in Asia's financial hub.
The STI today
THE Straits Times Index (STI) closed at 3,357.34, up 6.89 points or 0.2 per cent on Friday.