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 […]

Economy

Metro Denver economic development officials launch new branding initiative

Colorado has the nation’s second-most-educated workforce, the third-highest labor participation, a growing economy and an abundance of natural assets to draw workers and companies alike. “But we can’t be complacent,” said J.J. Ament, the former CEO of the Metro Denver Economic Development Corp. and the new president and CEO of the Denver Metro Chamber of Commerce. […]

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 […]