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Singapore Wrap Wednesday
Today's notable stories
- Singapore Cabinet: Masagos made full minister; new heads for Social & Family Development, Manpower
Prime Minister Lee Hsien Loong on Wednesday made several changes to his Cabinet line-up, with five office-holders involved in this latest reshuffle.
- Manulife, DBS sign regional distribution deal
Local lender DBS Bank and Canadian insurer Manulife Financial Asia Limited on Wednesday announced that they have signed a closely-watched 15-year regional distribution deal covering four mutually significant markets, namely Singapore, Hong Kong, China and Indonesia.
- COE premiums jump across the board
Premiums for certificates of entitlement (COE) soared across the board on Wednesday as buyers rushed to book a new car before changes to the Carbon Emissions-Based Vehicle Scheme (CEVS) kick in from July 1, 2015.
- Singtel to buy cyber security company Trustwave for US$810m
Singapore Telecommunications Ltd will buy a 98 per cent stake in Trustwave Holdings Inc for US$810 million as Southeast Asia's biggest phone company seeks to expand in cyber security.
- GrabTaxi invests US$100m in Singapore R&D centre
Mobile phone transport app GrabTaxi will invest US$100 million over a few years in its first research and development (R&D) centre in Singapore.
- Singapore: Pennies in play as STI dips
Hong Kong's Hang Seng Index may have enjoyed a massive "catch up" rally on Wednesday to the tune of almost 4 per cent but there was no effect here with the Straits Times Index sliding 4.94 points to 3,460.68.