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Singapore Wrap Wednesday
The fall in Singapore's private residential prices continued in the second quarter of this year with a 0.9 per cent drop - a seventh straight quarter of decline, the latest government flash estimates show.
Singapore Diamond Investment Exchange (SDiX) on Wednesday announced the upcoming launch of the world's first commodities exchange in physically settled diamonds in Singapore, which is targeted to go live in September 2015.
Singapore Airlines is proposing to appoint KPMG LLP as its auditor in place of its outgoing auditor Ernst & Young LLP, the carrier announced in a letter to shareholders on Wednesday.
The three-day hearing to assess the amount of damages blogger Roy Ngerng has to pay Prime Minister Lee Hsien Loong for defamation began on Wednesday (July 1) morning in the High Court.
A former Singapore Technologies Marine (ST Marine) group financial controller has been fined S$210,000 after pleading guilty to seven counts of abetting bogus entries for entertainment expenses.
The STI Today
The STI first raced off to an intraday high of 3,342 as short-covering momentum from Tuesday carried into Wednesday. However, by early afternoon, it began sliding and at one stage looked in danger of closing in the red. A late afternoon push however, enabled it to record a nett gain of 13.81 points for the day at 3,331.14. In two days, the STI has bounced about 50 points.