Daily Debrief: What Happened Today

Stories you might have missed

National Wages Council urges employers to raise pay for lower-wage workers by 5.5-7.5%

EMPLOYERS should give their lower-wage workers a built-in wage increase of 5.5 to 7.5 per cent, or at least S$80 to S$100, whichever is higher, the National Wages Council (NWC) said in its 2022/2023 wage guidelines on Monday (Nov 14).

Regulations cannot protect consumers from losses in crypto markets, says MAS

THE Monetary Authority of Singapore (MAS) has called on consumers to “exercise utmost caution when trading in cryptocurrency” in its responses to queries about FTX and its operations here.

Collaboration and growth opportunities between Germany and Singapore remain, despite headwinds: DPM Wong

IN THE face of economic and geopolitical headwinds, Germany and Singapore can strengthen their collaboration for growth, in areas such as sustainability, said Deputy Prime Minister and Minister for Finance Lawrence Wong on Monday (Nov 14).

BioNTech acquires site from Novartis for mRNA facility, regional headquarters

BIONTECH’S Singapore affiliate has acquired a manufacturing site from Novartis Singapore as part of its plans to turn Singapore into a regional headquarters and set up an mRNA facility.

Tampines EC draws over 5,000 visitors on launch weekend; prices start from S$1.1m

DEVELOPERS of Tenet have reported over 5,000 visitors at the launch weekend of the latest executive condominium (EC) project at Tampines Street 62.

Corporate Earnings

• First Resources underlying net profit surges 120.1% in Q3
• Q&M Dental’s Q3 profit down 62% on lower revenue

The STI today

Singapore stocks extend recent gains amid mixed regional showing; STI up 1%

THE Straits Times Index (STI) climbed 1 per cent or 32.47 points to close at 3,260.80 on Monday (Nov 14), while regional markets were mixed.