SINGAPORE - Catch up on the morning's top business headlines in Singapore with The Straits Times Money Desk's daily update.
1. OCBC's second-quarter net profit jumps 54 per cent to $921 million. The record quarterly earnings were due to higher net interest income, strong non-interest income growth and gains in the market value of assets held by its insurance business, the bank said on Tuesday.
2. Singapore's life insurance sector sees slower growth in Q2. Weighted new business premiums - a key industry performance gauge - came in at $660.3 million for the three months to June 30, a fall of 10 per cent over the same period last year.
3. Mobile ad firm raises $31m from investors including SPH, EDB. Headquartered in San Francisco, Smaato's other investors include United States-based private equity firm Aeris Capital and other existing shareholders.