Singapore core and overall inflation weaken in October

SINGAPORE – Core and overall inflation both declined in October, continuing Singapore’s deflationary trend of previous months. Core inflation, which excludes accommodation and private road transport costs, came in at -0.2 per cent year on year in October, slightly below the -0.1 per cent seen the previous month, according to data released by the Monetary Authority of Singapore (MAS) and […]

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Banks like HSBC to drive future green economy

SINGAPORE – With the coronavirus pandemic, attention has been drawn to the state of the planet, global warming and social issues like inequality. This trend is only set to increase, said HSBC Singapore’s chief executive Tony Cripps, with financial institutions like banks playing a growing role in sustainability efforts and leading the way for companies to enter the future green […]

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Mnuchin-Powell split shows rare discord as US economy struggles

WASHINGTON (BLOOMBERG) – The top two US economic policymakers have parted ways over whether to preserve emergency lending facilities designed to shore up the economy – a rare moment of discord as the nation confronts the risk of a renewed downturn spurred by a surge in coronavirus cases. The disagreement erupted late Thursday (Nov 19), touched off when outgoing Treasury […]

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1 in 4 Singapore employers plan to freeze salaries next year: Survey

SINGAPORE (THE BUSINESS TIMES) – About a quarter of organisations in Singapore plan to introduce or continue with salary freezes in 2021, a tad fewer than the 30 per cent that paused wage increments this year. As for pay cuts, about 3 per cent of employers said they intend to implement them next year, compared with the 29 per cent […]

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China credit jitters deepen selloff in government bonds

BEIJING (BLOOMBERG) – The credit default shock waves rippling through China are hurting demand for sovereign bonds, with market watchers seeing the slide lasting the rest of 2020. China’s 10-year government notes are set to drop for a seventh month in November, on track for the longest retreat since 2007. The decline has pushed the benchmark yield to a one-year […]

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Singapore slips from joint top spot of world's costliest cities

LONDON (AFP) – Paris and Zurich have joined Hong Kong as this year’s costliest cities worldwide, while Singapore and Osaka have slipped from their joint-top spot after the coronavirus pandemic weakened the US dollar, a survey published on Wednesday (Nov 18) showed. The biggest mover was Teheran, which jumped 27 places on US sanctions, The Economist Intelligence Unit added in […]

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Unlikely partners join hands as part of Sweden-S'pore initiative

SINGAPORE – Two unlikely partners are gearing up to organise a virtual storytelling competition for migrant workers in Singapore. Local textile boutique Aaria Creations is linking up with British-Swedish pharmaceutical giant AstraZeneca for a good cause. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories […]

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With RCEP, East Asia takes big leap of faith

SINGAPORE – And so, Asean has got it done, finally. By the standards of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership with which the RCEP will inevitably be compared, the agreement inked on Sunday (Nov 15) between Asean and five of its key trading partners – China, Japan, South Korea, Australia and New Zealand – may look less ambitious. […]

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U.N. chief to push G20 to extend, expand debt service suspension

UNITED NATIONS, Nov 12 (Reuters) – U.N. Secretary-General Antonio Guterres will next week push the leaders of the Group of 20 rich nations and big emerging powers to further extend and expand debt service suspension to help developing and middle-income economies recover from the coronavirus pandemic. Guterres, addressing a virtual annual ministerial meeting of the Group of 77 developing countries […]

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