1 China's economy is losing steam and other big emerging market economies such as Brazil and Russia are also showing signs of weakness, the OECD said yesterday, according to Reuters.
2 But there was good news - an upward revision to the euro zone growth number for the second quarter. The 19-nation zone grew 0.4 per cent instead of the 0.3 per cent earlier posted, which sparked fears that the Greek debt crisis would hit growth.
3 SGX-listed companies announced updates on deals and investments. Cortina Holdings has increased its stake in its Malaysian unit Cortina Watch to 90 per cent. In Malaysia, Cortina Watch now has 10 boutiques.
4 Hanwell said it was selling its 49 per cent stake in a unit called Million Cube to Kang Cheng for HK$307 million (S$56.6 million). Kang Cheng, which must complete the deal by Dec 31, has paid a further HK$50 million (non-refundable).
5 Hu An Cable has received a proposal from the local government of Wuxi City, China. The local authority suggests that Hu An sell its three China units to help solve its financial problems in the mainland and protect the livelihood of its employees.