The Singapore dollar slid on Tuesday (Oct 13) as the central bank is predicted to ease monetary policy this week with the economy seen having slipped into a recession in the third quarter for the first time since the global financial crisis in 2008-09.
A consortium of Norway's sovereign wealth fund and developer CapitaLand Ltd was chosen as the preferred bidder for a Singapore tower being sold by BlackRock Inc, in what could become the biggest office deal in the city-state, people with knowledge of the matter said.
Citigroup named Shyam Sambamurthy as the first global head of its international personal bank business, which focuses on managing the wealth of clients who have assets around the world.
Fullerton Healthcare Corp, a provider of medical services to corporate workers in Asia, is planning an initial public offering in Singapore, people with knowledge of the matter said.
Both prices and volumes of non-landed private property continued to slide, as sluggish conditions continue to dog the resale market. Data from SRX Property showed that prices in September fell 1.2 per cent compared to the same period last year.
The Philippines' leading fast-food giant Jollibee Foods announced on Tuesday it had acquired 40 per cent of an upmarket US hamburger chain for US$99 million (S$138.4 million).
China's imports extended the longest losing streak in six years, underscoring the headwinds to global growth from a rebalancing in the world's second-largest economy and declining commodity prices.
Private wealth will grow more slowly because the global economy is not advancing as quickly as expected, according to Credit Suisse.