The Week In Numbers: Short Back & Sides

Bank lending in Singapore barely rose in July. According to the Monetary Authority of Singapore (MAS), lending rose just 0.6% to S$610b from a month ago. Lending to businesses was muted, as was consumer lending.

But there were signs that credit-card lending could be growing again. It stood at S$9.8b, which was 0.8% higher than in June. That could be good news for Singapore’s three local lenders, namely DBS Group (SGX: D05), OCBC (SGX: O39) and UOB (SGX: U11).

Savers can now apply for the Singapore Savings Bond (SSB). A total of S$1.2b worth of bonds will be made available up until 25 September. The compound annual return is 2.63%, provided the bonds are held for 10 years.

The total value of shares listed on the Singapore market fell 8.8% to S$854b in August. Some of the biggest fallers include SingTel (SGXL Z74), Jardine Matheson (SGX: J36) and Wilmar (SGX: F34).

Economists only expect the Singapore economy to grow around 2.2% this year. Around three months ago, they expected the economy to expand 2.7%. The biggest drag on growth is expected to come from manufacturing, which is forecast to shrink 2.7%. But there could be bright spots in the Finance & Insurance sector and also from wholesale and retail.

And finally, an Australian sheep which hasn’t been shaved for years has finally been shorn. Chris, a merino sheep, was lost in the wild years ago. But his wool never stopped growing. When shearers finally removed it, they collected 89 pounds of the fluffy stuff.

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