SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.
1. DBS, OCBC shares rise after record Q1 earnings. DBS said net profit rose 9 per cent from a year ago to a record $1.03 billion, while OCBC logged a 29 per cent jump in earnings to a record $899 million.
2. Singapore's Mapletree signs $5 billion serviced apartment deal. It has partnered Oakwood Worldwide, a provider of corporate housing and serviced apartments, to open more than 100 new properties around the world over the next five years.
3. Singapore March bank lending increased 13.5 per cent from year ago. Total bank lending in Singapore amounted to $587.7 billion in March, up 0.6 per cent from February, as loans to financial institutions rose.