Daily Debrief: What Happened Today

Stories you might have missed

Singapore core inflation rises to 4.8% in July but official full-year forecasts unchanged

SINGAPORE’S core inflation rose to a new high of 4.8 per cent in July, the second straight month in which it exceeded the 4 per cent rate last breached during the global financial crisis, according to consumer price index figures from the Department of Statistics on Tuesday (Aug 23). This was a hair above economists’ expectations of 4.7 per cent in a Bloomberg poll, and up from 4.4 per cent in June.

Tanglin Club appoints new president; past presidents make plea to seek court redress

TANGLIN club has elected Chong Zhi Cheng, the club’s former convenor for membership & rules and co-convenor for sports, as its new president in a special general meeting (SGM) held on Monday (Aug 22).

Google beefs up Singapore investments, cloud unit inks AI partnership with govt

GOOGLE is strengthening its investments in Singapore - with the launch of its third data centre and an enhanced skills training programme - while its cloud business will work with the government to co-create Artificial Intelligence (AI) solutions in a public-private partnership.

Hodlnaut’s IJM application hits a snag with Samtrade invovlement

EMBATTLED crypto platform Hodlnaut’s interim judicial management (IJM) application has hit a snag as a creditor objects to their choice of judicial manager.

Bukit Batok residential redevelopment land for sale at S$42m guide price

A FREEHOLD residential redevelopment site at 30 Bukit Batok East Avenue 6 is up for sale via a public tender exercise at a guide price of S$42 million, said sole marketing agent SRI on Tuesday (Aug 23).

Corporate Earnings

• iX Biopharma H2 loss widens to S$8.3m on fair value adjustments
• Trek 2000 says financial position is ‘healthy’, unaffected by founder’s transgressions

The STI today

Singapore stocks off session’s lows despite core inflation surprise; STI down 0.5%

THE Singapore market closed with a smaller dent on Tuesday (Aug 23) despite an upside surprise to the country’s inflation figures. Core inflation rose at a faster-than-expected pace to hit a new high of 4.8 per cent in July, latest consumer price index (CPI) figures showed.