OCBC Bank has voluntarily proposed to abstain from undertaking financial advisory work on take-overs for 6 months from 1 September 2008 and to donate up to $1m to sponsor education program in fraud awareness and detection.

Oil prices rebounded from a 13-month low Monday, pushing above US$81 a barrel after the dollar weakened and investors trickled back into financial markets on hopes that a globally coordinated rescue plan will stave off an economic crisis.

European leaders agreed to guarantee new bank debt and use taxpayer money to keep distressed lenders afloat, trying to stop the worst rout in Europe’s stock markets in two decades and stave off a recession.

US shares plunged to fresh five-year lows Thursday in a vicious late-date selloff as jitters intensified over the global financial crunch.

CapitaLand’s subsidiary, the Ascott Group, has been awarded a contract by Raffles City Bahrain Fund to manage a 200-unit serviced residence in Manama City, Bahrain.

Trading remained volatile across major markets on Tuesday and Wall Street slumped during afternoon trade as financial stocks plumbed their lowest level since 1997.

Stock prices collapsed around the world on Monday amid growing fears that the credit crisis would trigger a global recession.

The Federal Reserve and US Treasury were on Sunday night under increasing pressure to follow passage of the US$700b financial rescue plan with further measures to shock the ailing credit markets back to life.

Leading home-grown infrastructure and civil engineering company OKP Holdings has secured a $6.78m contract from the JTC Corporation, through its unit, Eng Lam Contractors for the construction of roads and infrastructure for Tukang Estate Phase 1A.

The US Senate on Wednesday night approved by a large margin the Bush administration’s US$700b plan to rescue the financial system, while European policymakers clashed on Wednesday over how to protect their own banks.