Morning business news round-up for July 23, 2014

SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.

1. Singapore's inflation dips to 1.8% in June on smaller rise in car costs. This was down from inflation of 2.7% in May, and was largely due to a sharp correction in certificate of entitlement premiums, the Government said.

2. Xpress Holdings raises money through share placement to repay creditors. The Singapore-listed printing company said creditors have started legal proceedings against it and its unit Xpress Print, for sums owing of about $2.4 million.

3. AusGroup to buy units of Ezion Holdings for $55 million. The acquisitions will give Singapore-listed AusGroup new marine services expertise and help it achieve its goal of becoming a more fully integrated provider of services to oil and gas firms, the company said.