Daily Debrief: What Happened Today

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Alternative assets remain key driver of Singapore asset management industry in 2021: MAS

THE alternatives sector continued to serve as a key driver of Singapore’s assets under management (AUM) growth, propelling the city state to outpace the global asset management industry for 2021.

UniCredit Bank’s US$37m claims against Glencore over Hin Leong’s transaction dismissed

UNICREDIT Bank has lost its claims to recover US$37 million from Glencore Singapore in a transaction related to liquidated oil trader Hin Leong as Singapore’s High Court ruled that Glencore did not defraud or deceive the bank into issuing the letter of credit.

Raffles Medical, IHH to benefit from hospital bed crunch: DBS

RAFFLES Medical and other private hospitals, such as IHH Healthcare : Q0F -1.65%, are expected to benefit from the current bed crunch at public hospitals, according to a report by DBS on Friday (Oct 21).

Malaysia inflation eases to 4.5% in Sep, below economists’ forecasts

WITH food prices rising more slowly, Malaysia’s year-on-year inflation edged down to 4.5 per cent in September, lower than August’s 4.7 per cent rate and just below the 4.6 per cent forecast by 16 economists in a Reuters poll.

China needs to lift veil of secrecy on zero-Covid policy

WHEN China failed to release its latest trade data last Friday (Oct 14) and third quarter gross domestic product (GDP) figures as scheduled on Tuesday, the rumour mill immediately went into overdrive.

The STI today

STI dips 1.8%, falls below 3,000 to 20-month low

SINGAPORE stocks closed below the 3,000 level on Friday (Oct 21) for the first time since March 2021, amid recession fears with the US Federal Reserve seemingly persistent in its aggressive rate hikes.