Economy

Singapore firms slightly more upbeat for Q1 2022 amid Omicron uncertainties: Survey

SINGAPORE – Singapore companies are looking ahead to 2022 with renewed optimism, though uncertainties remain over the new Omicron variant driving a new Covid-19 wave, a business sentiment index out on Tuesday (Dec 7) showed. The forward-looking Business Optimism Index reached a two-year high as it climbed slowly from +5.78 percentage points in the fourth […]

Economy

China property market to keep cooling into H1 2022 on tight curbs: poll

BEIJING (REUTERS) – China’s property downturn is expected to continue into the first half of 2022, with home prices and sales falling as tight credit policies and a looming property tax dampen demand, a Reuters poll showed. The property sector, a key driver of growth in the world’s second-largest economy, has slowed sharply in recent […]

Economy

Singapore taking steps to mitigate challenges to sustainable financing: Indranee

SINGAPORE – Mobilising sustainable finance has its challenges, but Singapore is taking measures to mitigate them, said Minister in the Prime Minister’s Office Indranee Rajah on Monday (Nov 29). Speaking at a conference here, Ms Indranee said global leaders at the recent COP26 meetings in Glasgow, Scotland, had highlighted the importance of mobilising finance to achieve the […]

Economy

Markets see June liftoff on US rate hikes after Biden sticks with Powell to lead Fed

WASHINGTON (BLOOMBERG, REUTERS) – Traders are pricing in a ramp-up in tapering bond purchases by the US Federal Reserve and the potential for a June liftoff on rate hikes after President Joe Biden selected Jerome Powell to serve another four years as the central bank’s chair. Futures on the federal funds rate, which track short-term […]

Economy

Siemens launches revamped advanced manufacturing centre to support SMEs, train talent

SINGAPORE – Siemens has opened its doors to small and medium-sized enterprises (SMEs) in Singapore and beyond to help them upgrade their capabilities and develop new or improved products and solutions. The German multinational conglomerate unveiled on Friday (Nov 12) its revamped and newly expanded Advance Manufacturing Transformation Centre, dubbed AMTC 2.0, that will showcase […]

Economy

Passage of US infrastructure Bill a big plus for equity markets

SINGAPORE – The United States Congress’ passing of the US$1 trillion (S$1.35 trillion) infrastructure Bill proposed by President Joe Biden is one of the biggest positive market news coming through the weekend. By most analysts’ accounts, this should give a further fillip to the equity market, which has already climbed to record highs despite the US […]

Economy

Asian factories shake off lockdown blues, now face supply headaches

TOKYO (REUTERS) – Asia’s manufacturing activity grew last month as emerging economies saw Covid-19 infections subside, but rising input costs, material shortages and slowing Chinese growth cloud the outlook, business surveys showed on Monday (Nov 1). Policymakers in the region face pressures on multiple fronts as they steer their economies out of the pandemic-induced doldrums […]

Economy

Troubles in China's 'Christmas town' mean higher holiday prices

BEIJING (BLOOMBERG) – This year, the Chinese city of Yiwu – the world’s biggest hub for the manufacture of plastic reindeer, twinkle lights and other Christmas paraphernalia – is feeling a Grinch-like pinch. Factories are being hit by a shortage of raw materials that’s raising their production costs, and once goods are on their way […]

Economy

IMF cuts Asia's growth forecast, warns of supply chain risks

TOKYO (REUTERS) – The International Monetary Fund (IMF) on Tuesday (Oct 19) slashed this year’s economic growth forecast for Asia and warned that a fresh wave of Covid-19 infections, supply chain disruptions and inflation pressures pose downside risks to the outlook. China’s economy will grow by 8 per cent this year and 5.6 per cent […]

Economy

Headwinds mount for world economy into final stretch of 2021

HONG KONG (BLOOMBERG) – The global economy is entering the final quarter of 2021 with a mounting number of headwinds threatening to slow the recovery from the pandemic recession and prove policy makers’ benign views on inflation wrong. The spreading delta variant continues to disrupt schools and workplaces. US lawmakers are wrangling over the debt […]