Daily Debrief: What Happened Today

Stories you might have missed

Singapore GDP grew 0.4% in Q1; full-year growth expected at mid-point of 0.5 to 2.5% range

SINGAPORE’S external demand outlook for the rest of the year has weakened, with “growth likely to come in at around the mid-point” of the official forecast range of 0.5 to 2.5 per cent year on year, the Ministry of Trade and Industry (MTI) said on Thursday (May 25).

Singapore downgrades 2023 export forecasts on weaker-than-expected Q1 showing

SINGAPORE has slashed its 2023 full-year forecasts for both non-oil domestic exports (NODX) and total merchandise trade amid weak external demand and lower oil prices.

Some economists brace for technical recession this year even as MTI says it is not expecting one

SINGAPORE should not rule out the possibility of a technical recession this year, some economists said, even though the Ministry of Trade and Industry (MTI) on Thursday (May 25) stated this is not its baseline scenario.

‘Extensive to moderate’ redesign needed for 2 in 5 roles in food services: Jobs Transformation Map

OVER the next three years, 12 out of 30 identified job roles in Singapore’s food services sector are expected to require an “extensive to moderate” redesign, based on a manpower roadmap launched on Thursday (May 25).

Singapore T-bill’s cut-off yield at 3.85% in latest auction

The latest cut-off yield for Singapore’s six-month Treasury bill (T-bill) that closed on Thursday (May 25) was 3.85 per cent per annum – seven basis points higher than the tranche auctioned a fortnight ago.

URA releases state land sites for sale in Woodlands, Toa Payoh, Punggol

THE Urban Redevelopment Authority (URA) on Thursday (May 25) released two residential sites and a short-term lease commercial site for sale under the first half 2023 Government Land Sales (GLS) programme.

Corporate Earnings

• Singtel H2 net profit up 6.1% to S$1.1 billion, proposes final dividend of S$0.053
• Yoma Strategic H2 loss widens to US$32.7 million on higher finance costs
• The Hour Glass H2 net profit falls 5% on higher costs and expenses

The STI today

Singapore stocks decline amid mixed regional showing; STI down 0.2%

THE Straits Times Index (STI) fell 0.2 per cent or 6.49 points to 3,207.72 on Thursday (May 25) as markets in the region put up a mixed showing.