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Singapore Wrap Thursday
Singapore's office market is expensive compared with Australia and Japan because of a space glut and slowing rental growth, according to Union Investment, Germany's largest fund manager.
Singapore Airlines Ltd (SIA) is impatient to restore nonstop flights to the US. The airline is in talks with Airbus Group SE and Boeing Co on developing a plane with new technology that would allow it to fly nonstop to the US profitably, Singapore Air chief executive officer Goh Choon Phong said. In 2013, the carrier stopped the 19-hour trip from Singapore to New York, adding about five more hours to travel between the cities.
A 99-year leasehold private condo site in Lorong 6/Lorong 4 Toa Payoh fetched 14 bids at a state tender that closed on Thursday.
First Sponsor Group announced on Thursday morning that it has completed its acquisition of two hotels in Amsterdam - a Holiday Inn and a Holiday Inn Express - with 509 carpark lots for 54.6 million euros (S$82.9 million).
Commodities firm Noble Group has executed its fourth share buyback in a month, continuing its efforts to shore up confidence among investors.
The STI Today
Singapore shares slipped 0.8 per cent on Thursday with the Straits Times Index down 25.49 points to 3,300.42 as concerns about Greece overshadowed dovish comments from the US Federal Reserve.