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Daily Debrief: What Happened Today
The Singapore Exchange (SGX) is seeking feedback on whether it should introduce volatility controls to the securities trading auction process, to protect investors from extreme price swings.
More than 40 new standards for nascent areas including drones, additive manufacturing and video analytics will be developed over the next year, as the Singapore Standards Council (SSC) steps up its standardisation efforts to keep pace with economic transformation and novel technologies.
Developers in Singapore sold 821 private homes in June, down 13.8 per cent from the 952 units they moved in May, but 25.5 per cent higher than the 654 units they sold in June last year.
Singapore’s construction sector faces increasing risks of a protracted slowdown in growth in the medium term, due to the poorer global economic outlook over the next few years, Fitch Solutions Macro Research said in a report on Monday.
National water agency PUB has appointed Koh Brothers Eco Engineering’s unit and its joint venture (JV) partner, China Harbour (Singapore) Engineering Company, for a S$668.2 million influent pumping stations project at the Tuas Water Reclamation Plant.
CapitaLand’s lodging business unit The Ascott has signed 26 new properties, a majority of which are under management contracts, with three on franchise agreements, it said on Monday just after the market opened.
Singapore ranked third in the Asia-Pacific in fostering growth for women entrepreneurs, though its progress between 2017 and 2019 was outpaced by several other cities around the world, according to a study by US tech giant Dell.
The STI Today
Investors in Asia were looking to the deluge of Chinese data releases on Monday for indicators of the impact that the re-escalation of trade tensions with the US had on China's economy. The fact that the figures either met or beat expectations saw investors mostly relieved. The Straits Times Index (STI) dropped 9.39 points or 0.3 per cent to close at 3,347.95 on Monday.