United Industrial Corporation has claimed a 23% year-on-year increase in its net profit to S$136.7 million, for the second quarter ended June 30. In addition, the company notified a fair value gain of S$147.8 million to its income statement for the quarter, based on valuations by independent professional values.

The spirit of Norwegian people, after they met with an attack has been applauded by the Singaporean Deputy Prime Minister Teo Chee Hean, who has asked Singaporeans to stay united, as Norwegians, to prevent a similar crisis.

Hean, who is also the Minister for Home Affairs said, "We must be able to overcome it with a positive spirit, so that society does not break apart”.

In what deal likely to strengthen United Envirotech's foothold in China's rapidly emerging water industry, an affiliate of Kohlberg Kravis Roberts & Co. L. P. is all set to invest US$113.8 million in the water treatment and recycling solutions provider via convertible bonds for United Envirotech.

United Envirotech Ltd. confirmed the investment on Monday.

Unemployment rate in Singapore was 2.1% for second quarter. Last quarter, it was 1.9%- a three year low.

Manpower Ministry stated that 22,800 jobs were created between Junes to April which resulted in the gradual fall of previous quarter.

On Wednesday, Australian developers have announced its upcoming project of constructing Singapore's third-largest suburban shopping mall. It has been reported that the mall will be build next to Jurong East MRT Station.

Government of Singapore Investment Corp. deals with Singapore's foreign-exchange reserves. On Monday, its annual report said that its exposure to America continued to fall with total investment in the region accounting for 42% in the year ended March, as compared to 43%, for the past year.

Singapore's consumer price index (CPI) in June spiked 5.2 percent year on year, scoring way over 4.5 percent in May, the Department of Statistics revealed on Monday.

The escalation in inflation will directly exert a thrust on the Central Bank to allow the currency to realize and hold price gains.

The steep increase is mainly attributable to sectors of housing, food and transport.