The $915 million cash that Mitsubishi Corp. will pay for new shares of Olam International Ltd. will help Singapore's commodity trader fund acquisitions, according to chief executive officer Sunny Verghese.
Shares of Singapore-listed Noble Group, the commodities trader criticised over its accounting methods, climbed for a second day on Friday (Aug 28), extending its first monthly advance since November, after Mitsubishi Corp. agreed to pay a premium for a stake in rival Olam International.
Resale prices of private homes were flat in July, according to Singapore Residential Price Index (SRPI) flash estimates released on Friday (Aug 28). The SRPI, compiled by the National University of Singapore's Institute of Real Estate Studies, showed overall prices were unchanged in July from the previous month.
The salaries companies were prepared to pay for IT professionals in Singapore rose by 10 to 15 per cent this year with hiring strong in many areas, according to recruitment firm ZW HR Consulting.
Troubled 1Malaysia Development Berhad (1MDB) has denied that a sovereign investor from the Gulf state is pulling a lifeline worth almost US$5 billion.
China loosened restrictions on foreign investment in real estate after the yuan's depreciation reduced the appeal of Chinese property assets.