Morning business news round-up for Sep 10, 2014

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

1. Economists less upbeat about Singapore's growth this year. They are now projecting that the economy will grow 3.3 per cent for the full year, down from a forecast of 3.8 per cent three months ago.

2. Profits down for food caterer Neo Group on higher expenses. Revenue rose 21.2 per cent for the six months ended July 31 from the previous year to $28 million, but costs such as employee benefits, depreciation and amortisation, advertising and operating lease expenses increased more steeply.

3. Singapore Technologies Engineering unit sets up MRO facility in Florida. VT Mobile Aerospace Engineering signed an agreement with the City of Pensacola to set up the maintenance, repair and overhaul (MRO) facility at the Pensacola International Airport.