Daily Debrief: What Happened Today

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Tight oil market likely to fuel volatility; Brent expected to average US$100 in 2022: Maybank OIL prices will likely remain at volatile and high levels, as global demand rises while supply continues to be disrupted by rising geopolitical tensions and prolonged under-investment, Maybank Research said.

New tripartite standard on how firms should improve well-being of lower-wage workers A NEW Tripartite Standard on Advancing Well-being of Lower-Wage Workers will set out good employment practices, building on efforts by the Progressive Wage Model (PWM), while an accreditation scheme for the PWM will also be introduced.

Strong enforcement measures will guard against new EP system fraud THE government will have strong enforcement measures to guard against employers attempting to game the Complementarity Assessment Framework (Compass), the new points-based system to assess Employment Pass (EP) applicants and their employers, said Manpower Minister Tan See Leng in Parliament on Monday (Mar 7).

Singtel's NCS acquires Aussie IT company The Dialog Group for A$325m NCS, Singtel's technology services arm, announced that it would acquire Australian IT services company The Dialog Group for A$325 million (S$328 million) as it looks to further its plans to be a pan-Asian business-to-business (B2B) digital services provider.

SGX suspends trading of PJSC Gazprom GDR on Russia sanctions THE Singapore Exchange Regulation (SGX RegCo) on Monday (Mar 7) suspended the admission to trading of PJSC Gazprom global depositary receipts (GDR) due to sanctions by the Singapore government amid Russia's invasion of Ukraine.

Grab faces possible class action suits from US shareholder rights law firms LISTING in the US is often desired for its vibrant market and access to capital, but on the flip side, it puts the company at risk of potential litigation with class action lawsuits, with recently-listed Grab becoming the latest target.

Singapore O&G gets S$0.295-a-share takeover offer from vehicle linked to Dymon Asia CATALIST-LISTED healthcare service provider Singapore O&G Group has received a voluntary unconditional cash offer at S$0.295 a share from special purpose vehicle NewMedCo Group, according to a bourse filing on Monday (Mar 7).

The STI today

Asian markets dive as oil prices spike, Ukraine crisis rattles investors FINANCIAL markets in Asia tumbled on Monday (Mar 7) amid a rally in crude oil prices which was stoked by reports that the US Congress is exploring an embargo of oil imports from Russia, one of the world's largest oil suppliers.