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Singapore Wrap Tuesday
The Monetary Authority of Singapore said on Tuesday that the Singapore Savings Bonds will be issued on Oct 1, 2015. Interested investors will be able to apply for this much anticipated bonds from Sept 1, said Ravi Menon, MAS managing director at MAS Annual Report 2014/15 briefing.
The Monetary Authority of Singapore and the Ministry of Trade and Industry are reviewing the growth forecast for the economy for 2015, taking into account weaker output in the first half of the year as well as supporting factors in the second half.
- MAS posts sharply lower profit due to currency effects
- Singapore's asset management industry shows strong growth; AUM up 30% to S$2.36 trillion in 2014
Iceberg Research on Tuesday afternoon fired another salvo at Noble Group, expressing its doubt that the appointment of PricewaterhouseCoopers (PwC) to conduct a review will solve the commodity trader's problems.
United Overseas Bank said on Tuesday it would partner Temasek Holdings to provide venture debt financing to startups in China, India and South-east Asia.
Homegrown telecommunication services provider GlobalRoam Group said on Tuesday it has invested S$2 million for a "significant minority stake" in big data startup aSpecial Media, and will launch a new service to help enterprises analyse consumer behaviour from the way they silently scan the Internet.
The STI Today
Penny-stock fever gripped the local stock market on Tuesday as the market's latest leader, CEFC International, continued its gravity-defying run with a stunning 64 per cent gain that took its rise in a little over a week to almost 900 per cent, creating spillover rises for several other low-priced issues such as Oceanus, Foreland Fabrictech, Sino Construction and WE.