Daily Debrief: What Happened Today
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Singapore employment rises 34,500 in Q1; growth moderates
SINGAPORE’S employment levels grew for the sixth consecutive quarter in Q1 2023, led by non-resident employment growth, but labour market improvements have moderated, going by advance figures from the Ministry of Manpower (MOM) on Friday (Apr 28). Retrenchments rose for the third straight quarter, even as unemployment rates stayed low.
NTUC launches ‘career trial model’ for fresh school-leavers and NSmen
SINGAPORE’S labour movement is piloting a “career trial model” for young employees who would like mentorship as they enter working life.
Singapore private home prices rise 3.3% in Q1 over previous quarter, taking yoy increase to 11.4%
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PRICES of private residential properties in Singapore increased by 3.3 per cent in the first quarter of 2023 over the previous quarter, data released by the Urban Redevelopment Authority (URA) on Friday (Apr 28) shows.
Singapore manufacturers, services firms slightly more upbeat about outlook for next 6 months
SINGAPORE manufacturers and services firms appear slightly more upbeat about business conditions in the next six months compared to the previous quarter, separate quarterly surveys showed on Friday (Apr 28).
The race to keep data centres cool is heating up
A MICROWAVE oven typically puts out about 600 watts to 1,200 watts of heat to pop popcorn and reheat frozen pizzas. Now, imagine a similar amount of power condensed into an area less than the size of a postage stamp.
THE funders for Hyflux’s lawsuit against the firm’s founder and chief executive Olivia Lum are allowed to provide only an undertaking that they have S$90,000 to pay for her legal costs, after the High Court allowed the plaintiffs’ appeal.
Corporate Earnings
- CICT posts 11.3% rise in Q1 net property income to S$276.3 million
- Prudential posts 35% rise in Q1 APE sales; new business profit up 30%
- Frasers Hospitality Trust posts H1 DPS of S$0.012649 on higher revenue
- CDL Hospitality Trust’s net property income grows 35% in Q1
- Far East Hospitality Trust Q1 distributable income up 24.1% to S$18.2 million
- Wilmar posts 26.2% fall in Q1 net profit to US$391.4m
- Micro-Mechanics posts 63% fall in Q3 profit to S$1.6 million
The STI today
Singapore stocks flat amid regional rally; STI down 0.4%
THE Straits Times Index (STI) fell 0.4 per cent or 11.52 points to 3,270.51 on Friday (Apr 28) despite a rally among major Asian indices.
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