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Daily Debrief: What Happened Today
Stories you might have missed
WITH the likely discontinuation of the US dollar (USD) Libor will impact the sustainability of SOR, the Association of Banks in Singapore (ABS) and the Singapore Foreign Exchange Market Committee have concluded that financial contracts that reference SOR, particularly SGD interest rate derivatives, should transition to reference SORA.
DC rates for non-landed residential use have been trimmed by 0.3 per cent on average; this follows the 5.5 per cent cut in March.
LOANS through the domestic banking unit – which captures lending in all currencies, but reflects mainly Singapore-dollar lending – stood at S$680.7 billion in July, compared with S$687.08 billion a month ago.
SUSPICIOUS bank accounts linked to scams can now be frozen in a few days, thanks to collaboration between the Singapore Police Force (SPF) and three major banks here.
THE buildings will be adapted to house new cultural and lifestyle uses, in line with the Government's plans to strengthen and differentiate Orchard Road with unique offerings.
- UOB prices US$500m covered bonds due 2022 at 1.625%
- ASL Marine Q4 loss deepens to S$116.6m
- Raffles Infrastructure back in the black with 32.6m yuan FY2019 profit
- Magnus Energy Q4 loss widens to S$16.2m
- Kitchen Culture narrows 2019 full-year loss to S$3.7m
The STI today
THE Straits Times Index (STI) ended August's trading session up 0.8 per cent or 24.69 points to 3,106.52.