MARKET UPDATES :
- SINGAPORE shares end higher on Tuesday.The Straits Times Index gained 26.32 points to 3,334.02.Some 1.23 billion shares, valued at S$949.7 million were traded. Gainers numbered 275 while losers numbered 147.
- Singapore’s sovereign wealth fund GIC is investing 10.2 billion rupees (US$165.5 million) in India’s Bandhan Financial Services, which is setting up one of the country’s two newest banks, Bandhan’s chairman said on Tuesday.The company will get a total equity investment of 16 billion rupees, including 5.8 billion rupees from existing investor IFC, Bandhan Chairman Chandra Shekhar Ghosh told Reuters.
- The guide shows that in Singapore, 59 per cent of employers increased salaries in their last review by 3 to 6 percent, while 8 per cent gave staff an increase of between 6 and 10 per cent. A further 5 per cent increased above 10 per cent.At the other end of the scale, 22 per cent gave increases of less than 3 per cent, and the final 6 per cent of employers gave no increases at all.
- Credit Suisse Group AG sued REI Agro Ltd. in Singapore claiming the Indian basmati rice producer and 16 related companies conspired to get loans for non-existent trades of the staple.REI Agro founders Sandip and Sanjay Jhunjhunwala used a web of sham rice-trading companies in Singapore and Hong Kong to support a 2012 US$115.5 million loan agreement by REI Agro’s Dubai-based Ammalay Commoditiess JLT, according to a lawsuit in the Singapore High Court.
- EARNINGS of Keppel Infrastructure Trust (KIT) for the full financial year ended Dec 31, 2014, were lower from a year ago due to lower production of NEWater, lower power tariff from plunging oil prices and higher trust expenses.Profit was 10.4 per cent lower at S$12.7 million from a year ago.
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