The Week In Numbers: Just What The Banks Want

The International Energy Agency has warned that unless more money is spent exploring for, and developing, new oil fields, then demand may outstrip supply in the early years of the next decade. It said investment in new oil fields has fallen from $780 billion in 2014 to $580 billion in 2015 and then to $440 billion this year. Good news for oil producers.

Interest rates in Singapore shot up this week. Three-month Sibor (Singapore Interbank Offered Rate), which could affect mortgage repayments, rose to 0.91% from 0.88% at the start of the week. The rise was prompted by a fall in the Singapore dollar against the greenback. That could be just what Singapore banks, which include DBS Group (SGX: D05) and Oversea-Chinese Banking Corporation (SGX: O39), wanted.

India is using indelible ink to crack down on corruption and tax evasion. Following the surprise move to scrap 1,000 rupee and 500 rupee notes, people can change high-denomination notes for smaller denominations. But they will have their fingers marked with indelible ink to prevent repeat visits to the bank.

The race to become Singapore’s fourth telecom operator will be between MyRepublic and TPG Telecom. The reserve price for the new spectrum is $35 million. The two companies will participate in the New Entrant Spectrum Auction. Interesting times for Singtel (SGX: Z74), StarHub (SGX: CC3) and M1 (SGX: B2F).

And finally, Toblerone has found a sweet way to beat inflation – by increasing the space between the jagged peaks of its iconic chocolate bar. Mondelez, which makes the popular chocolate bars, has reduced the weight of a version of its confectionary from 170 grams to 150 grams. Another version of the bar was reduced from 400 grams to 360 grams. Did Mondelez really think consumers wouldn’t notice?

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