Economy

Asean wraps up week-long meeting with commitments to further digital economy, sustainability

SINGAPORE – Asean will collaborate with its external partners to spur stronger recovery from the pandemic and lay a foundation for longer-term growth, Trade and Industry Minister Gan Kim Yong said in a LinkedIn post on Wednesday (Sept 15). “Asean and our dialogue partners exchanged views on… the economic impact of Covid-19, and discussed cooperation […]

Economy

Asia-Pacific companies planning larger pay raises in 2022: Survey

SINGAPORE (THE BUSINESS TIMES) – Employers in the Asia-Pacific plan to give the highest 2022 salary increases compared with North America and Western Europe, which are expected to stay flat, according to findings from a Willis Towers Watson survey. Asia-Pacific companies estimate average salary increases of 5.3 per cent for executives, management and professional employees […]

Economy

S'pore can seize opportunities in increasingly digital, green and borderless world: Gan Kim Yong

SINGAPORE – The Republic stands to gain from the new opportunities offered by the worldwide shifts caused or accelerated by the coronavirus pandemic, said Minister for Trade and Industry Gan Kim Yong on Friday (Aug 27). The opportunities lie in global trends such as the increased focus on digitalisation, connectivity and innovation; the fast-growing green economy; […]

Economy

Japan's economy rebounds in April-June, Covid-19 clouds outlook

TOKYO (REUTERS) – Japan’s economy rebounded more than expected in the second quarter after slumping in the first three months of this year, data showed, a sign consumption and capital expenditure were recovering from the coronavirus pandemic’s initial hit. But many analysts expect growth to remain modest in the current quarter as state of emergency […]

Economy

GIC invests $326 million in Arctic Green Energy

BENGALURU (REUTERS) – Singapore sovereign wealth fund GIC will invest US$240 million (S$326 million) in Arctic Green Energy to support the renewable energy firm’s expansion in Asia and Europe, the companies said on Monday (July 27). Arctic Green Energy focuses on the decarbonisation of the building sector and has a geothermal partnership with China’s state-owned […]

Economy

US sees biggest annual inflation jump since 2008

WASHINGTON (AFP) – The United States saw its biggest surge in inflation in more than a decade last month, according to government data released on Tuesday (July 13), hitting consumers and challenging the White House and Federal Reserve narrative that the price spike will fade in the coming months. As widespread Covid-19 vaccinations allowed the […]

Economy

Boulder remains at top of “Best Places to Live” list for second year

Last year, Colorado boasted four metro areas among the top 10 in U.S. News & World Report’s “Best Places to Live” list, no small accomplishment. But the pandemic has changed things up a bit on this year’s list, which rates the 150 most populous U.S. metro areas based on affordability, job prospects, desirability and net […]

Economy

Job worries, poor mental health afflict pandemic-hit UK youth

LONDON (BLOOMBERG) – Young people in the UK are emerging from the coronavirus crisis blighted by poor mental health and worried about their financial future, reports published Monday warned. The separate analyses, by the Institute for Fiscal Studies and the Resolution Foundation, underscore the huge challenges facing millions in their late teens and early 20s […]

Economy

MAS proposes to strengthen its investigative powers

SINGAPORE – Moves are underway to strengthen the Monetary Authority of Singapore’s investigative powers in the area of evidence gathering. The proposals, outlined in a consultation paper on Friday (July 2), will be incorporated in amendments to the Financial Institutions (Miscellaneous Amendments) Bill. These changes would empower the MAS to enter premises without prior notice […]

Economy

U.S. jobless claims tick down to 411,000 as economy heals

WASHINGTON — The number of Americans applying for unemployment benefits dropped last week, a sign that layoffs declined and the job market is improving. The Labor Department said Thursday that jobless claims fell just 7,000 from the previous week to 411,000. Weekly claims have fallen steadily this year from about 900,000 in January. The economy […]