Three-Minute Digest

MH370 crashed into Indian Ocean: Najib

MALAYSIA Airlines flight MH370 - which disappeared 17 days ago with 239 people on board - went down in the southern Indian Ocean, said Malaysian Prime Minister Najib Razak at a press conference last night.

Sub-800 sq ft units' share of new sales hits record

SMALL units of up to 800 square feet made up a record proportion, 47.6 per cent, of non-landed private homes sold by developers last year.

600-tonne vault for silver opens amid robust demand

IN a sign of continued strong demand for physical bullion here, bullion retailer Silver Bullion yesterday opened a 600-tonne silver vault.

Feb inflation at 4-year low, but expected to rise again

SINGAPORE'S inflation rate eased more than expected to a four-year low of 0.4 per cent in February, but economists were careful not to make too much of the fall.

Albedo's RTO deal hanging on tenterhooks

CATALIST-LISTED Albedo shares bounced back a tad yesterday after an injurious showing last Wednesday when its stock price plunged more than 40 per cent following a report that its lifeline-deal involving sizeable Iskandar land had fallen through.

Unionmet sheds light on rights puzzle

INDIUM manufacturer and trader Unionmet (Singapore) yesterday clarified that its substantial shareholder, Precious Stream Holdings (PSH), has had its rights entitlement scaled down from 87.9 million shares to 23.9 million, so as not to trigger a mandatory takeover of the company.

Renault Twizy leaves authorities in a tizzy

A FUNKY new electric vehicle now undergoing type approval here could spark the creation of a new COE (certificate of entitlement) category.

Beijing backs its virtual finance sector

ENDING weeks of speculation about an imminent crackdown, Beijing threw its weight behind the country's fast-growing virtual finance industry, saying that it would continue promoting it and preserving its leadership position in the world.

Foreigners shun US Treasuries, locals return

OVERSEAS creditors such as China and Japan enabled the US to spend its way out of the recession as they gobbled up 80 per cent of the nation's Treasuries. Now, their holdings are dropping towards the lowest level in a decade, while homegrown investors have picked up the slack.

Tiger orders 37 Airbus planes worth US$3.8b

TIGER Airways has ordered 37 Airbus A320neo aircraft worth some US$3.8 billion at list price and delivery is to start from 2018.

Q1 investment sales of property remain sluggish

INVESTMENT sales of Singapore property - which cover big-ticket deals of at least $10 million - have continued to languish in the first quarter, according to separate figures from CBRE and Savills.