Daily Debrief: What Happened Today

Stories you might have missed

EMA to stop temporary electricity scheme from May 1 as volatility eases

THE Energy Market Authority (EMA) on Monday (Mar 20) announced that it will be discontinuing the Temporary Electricity Contracting Support Scheme (Trecs) come May 1.

What sets Singapore banks apart from Credit Suisse: Phillip Securities

PHILLIP Securities said it remains positive on Singapore banks despite the recent collapse of Swiss banking giant Credit Suisse, resulting in a government-brokered takeover by rival UBS.

MAS says Credit Suisse’s Singapore operations unaffected; local banking stability still intact

CREDIT Suisse Group will “continue operating in Singapore with no interruptions or restrictions” following its announced takeover by UBS, the Monetary Authority of Singapore (MAS) indicated.

Shoe recycling farce: Traders of second-hand textiles, shoes excluded from process chain

APPOINTING only contractors and subcontractors that are not involved in any second-hand trading of textiles or shoes. Transporting all collected shoes without any aggregation or sorting at intermediary premises. Conducting regular spot checks and inspections.

MAS to set up information-sharing platform to combat money laundering under new Bill

A FINANCIAL Services and Markets (Amendment) Bill was introduced in Parliament on Monday (Mar 20) to provide for information sharing when combating illicit financial activities.

SMEs’ top priority for 2023 is ensuring cashflow and maintaining costs: survey

CASHFLOW and costs remain the top priority for Singapore small and medium-sized enterprises (SMEs) in 2023, with less than half being optimistic about growth, DBS’ annual SME Pulse Check survey indicated on Monday (Mar 20).

The STI today

Singapore stocks fall on banking sector uncertainty; STI down 1.4%

SINGAPORE shares tumbled on Monday (Mar 20), as dark clouds over the banking sector in the United States and Europe contributed to a sea of red across key Asian markets.