Daily Briefing: SIA ups Virgin stake amid ownership rumours; Singapore seeks currency pact

And new leasing rules will impact landlords, tenants.

Singapore Airlines Ltd. raised its stake in Virgin Australia Holdings Ltd. a week after future ownership of the A$1.3 billion ($987 million) airline was put in doubt. The Singapore carrier increased the shareholding to 23.11 percent from 22.91 percent, it said in a statement late Wednesday. Read more here.

The world economy needs something like a modern-day Plaza Accord to safeguard growth against currency market volatility, according to Singapore’s Deputy Prime Minister Tharman Shanmugaratnam. The remarks by the Singaporean official, who is also a former finance minister, come a week before Group of 20 officials gather in Washington to discuss the state of the world economy. Read more here.

The new accounting standard for leases, which will take effect in Singapore by January 2019, is expected to negatively impact landlords and tenants of commercial and industrial properties, according to a report from PricewaterhouseCoopers (PwC). Read more here.

Photo by IanC66/Shutterstock.com

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