Daily Debrief: What Happened Today

Stories you might have missed

Singapore key exports contract 15.6% in February in fifth straight month of decline

SINGAPORE’S key exports in February took a sharp turn for the worse sequentially, even if year-on-year decline eased relative to the previous month, data from Enterprise Singapore (EnterpriseSG) showed on Friday (Mar 17).

Exposures to recent US bank failures appear limited for Apac banks, Fitch says

DIRECT exposures to recent failures from Silicon Valley Bank (SVB) and Signature Bank appear limited for Asia-Pacific banks under Fitch Rating’s coverage, the credit ratings agency said on Friday (Mar 17).

ST Engineering wins S$430 million rail services contract in Taiwan

ST ENGINEERING obtained a S$430 million contract from the Kaohsiung City Mass Rapid Transit (MRT) Bureau in Taiwan, the technology and engineering group said on Friday (Mar 17).

Bailing out retail or commercial banks is bad business for central banks

REGULATORY reaction to Silicon Valley Bank (SVB)’s troubles has revived fears of moral hazards and may have permanently expanded the government’s role in the pricey business of deposit insurance. Those are reasons for markets to be worried.

Manulife US Reit denies reported 200 billion won figure for sale of its manager

MANULIFE US Reit on Friday (Mar 17) denied reports of a 200 billion won (S$206.4 million) figure for the sale of its manager to Korean asset manager Mirae Asset Global Investments.

Are young Singaporeans spending too much?

IT IS Thursday evening. Instead of heading home like the rest of her colleagues, Rachel Lee sets off to her favourite spin studio in Chinatown.

The STI today

Singapore stocks climb on Friday to end volatile week; STI up 0.9%

SINGAPORE shares closed higher on Friday (Mar 17) in line with gains across the region as investors turned more optimistic to end a week of volatile trading.