Daily Debrief: What Happened Today (Aug 5)

Stories you might have missed

UOB to sell asset management arm to Allianz Global Investors for S$555 million

[SINGAPORE] UOB is selling its asset management arm to Allianz Global Investors for S$555 million, an exit that hands the Singapore lender a significant capital gain while cementing a pivot towards open-architecture wealth distribution.

From billionaires to towkay heirs: UBS widens Singapore wealth push

[SINGAPORE] UBS, long associated with managing the fortunes of billionaires, is casting its net wider in Singapore. The Swiss bank is sharpening its focus on clients with at least US$2 million in investable wealth, as the region produces more millionaires and established fortunes are divided among a new generation of heirs.

‘Come to us first’, new SBF chairman Mark Lee tells businesses seeking help

[SINGAPORE] When a company needs financing, wants to adopt artificial intelligence, or is looking to expand overseas, Mark Lee wants the Singapore Business Federation to be the first “port of call” for help.

Singapore retail sales up 4% in June, missing forecasts

[SINGAPORE] The Republic’s retail sales rose 4 per cent year on year in June, extending the 2.9 per cent growth recorded in May, data from the Singapore Department of Statistics showed on Wednesday.

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Daily Debrief: What Happened Today (Aug 4)

Can Seatrium build on its robust H1 earnings? UOBKH and DBS analysts have divided views

[SINGAPORE] Seatrium reported a strong turnaround for its first half ended Jun 30 on the back of higher-margin projects, productivity improvements that lowered costs, and asset divestment gains. But analysts are divided on whether the group can sustain the sterling performance in the absence of major near-term contract wins.

1 in 5 fresh graduates from autonomous universities still seeking employment: MOM

[SINGAPORE] About one in five fresh graduates from Singapore’s autonomous universities are still seeking employment, as at June 2026, said Acting Minister for Manpower Jasmin Lau.