Daily Debrief: What Happened Today (Jul 16)

Stories you might have missed

Low-cost carrier model remains viable, but may not work at every airport: Iata chief

[SINGAPORE] The budget airline model is not dead, but it does not always work at every airport, said Willie Walsh, director-general of the International Air Transport Association (Iata), at a media roundtable on Wednesday (Jul 16).

Indonesia bends to Trump’s trade terms to avoid 32% tariff blow

[JAKARTA] In a move that underscores the bargaining power of the US under President Donald Trump’s trade-first agenda, Indonesia has agreed to eliminate tariffs on American goods and commit to billions in US purchases in exchange for reduced tariffs on its own exports.

HDB to launch more than 10,000 new flats in July exercise

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[SINGAPORE] The government will launch more than 10,000 new Build-To-Order (BTO) and Sale of Balance Flats (SBF) units in the July 2025 sales exercise.

Singapore SMEs return to expansionary mode in Q2, but momentum may not last: OCBC

[SINGAPORE] Small and medium-sized enterprises (SMEs) in Singapore rebounded into expansionary territory in the second quarter of 2025, according to the latest OCBC SME Index released on Wednesday (Jul 16).

Security and compliance among concerns of banks in granting API access to fintechs

[SINGAPORE] Security and compliance concerns are top of the list when Singapore’s brick-and-mortar banks decide whether to grant fintechs Application Programming Interface (API) access to the financial data, particularly that of the banks’ small and medium-sized enterprises’ (SME) clients.

CDL shares surge over 6% after Philip Yeo exits board

[SINGAPORE] Shares of City Development Limited (CDL) rose more than 6 per cent on Wednesday (Jul 16), after the property conglomerate said on Tuesday evening that Philip Yeo will be retiring.

Singapore shares rise to new high; STI up 0.3%

[SINGAPORE] Shares on the Singapore bourse closed higher on Wednesday (Jul 16), marking the third straight day the benchmark Straits Times Index (STI) hit a new high.