STI down 28 points as Asian bourses tumble over Greece deadlock

Singapore stocks finished lower mirroring negative performance by Asian markets after another round of Greek bailout talks ended in a deadlock, and Shanghai index collapsed on fears that Chinese stocks are overvalued after a year-long advance.

The benchmark Straits Times Index (STI) was down 28.97 points, or 0.86 per cent, to close at 3,320.90.

Singapore May factory output falls bigger-than-expected 2.3%

Singapore's industrial production fell 2.3 per cent in May, in the fourth straight month of year-on-year contraction as the Republic battled headwinds to growth from sluggish global demand.

The median estimate in a Reuters survey of 12 economists was for factory output to fall 2.1 per cent.

MAS seen standing pat at policy review in October despite low core inflation: Poll

Singapore's central bank is expected to keep monetary policy steady at its next policy review in October, with core inflation expected to recover from five-year lows and edge higher later this year.

The Monetary Authority of Singapore in January eased its exchange-rate based monetary policy in an unscheduled policy statement, saying the inflation outlook had "shifted significantly" due to a collapse in oil prices.

ABS draws up guidelines for third-party service providers for banks

The Association of Banks in Singapore (ABS) has released a set of industry guidelines that will outline the minimum standards and controls required of outsourced service providers (OSPs) serving the financial institutions.

The guidelines - drawn up by ABS and member banks in a process that began in April last year - will also form the basis of an annual audit that determines whether OSPs are adhering to a necessary level of control and governance.

Capitaland consortium fulfils conditions to buy Danga Bay land parcels

Capitaland said its consortium has fulfiled condition to acquire land parcels on A2 Island in Danga Bay, Iskandar Malaysia envisaged to be developed into a premier, the company said in a release on Friday.

A2 Island is envisaged to be developed into a premier waterfront residential community comprising high rise apartments, landed homes and other supporting amenities.