Kevin's Feed
Dec 23, 2013

As Singapore gets richer, more people left behind

SINGAPORE (Reuters) – Every day, through eyes clouded by glaucoma, Peter witnesses the spending power generated by Singapore’s economic success, knowing he can only afford to look.

The 54-year-old shopping mall security guard is part of Singapore’s hidden problem – a growing number of poor living on the margins in one of the world’s most expensive cities.

Dec 17, 2013

Singapore’s November export slump points to structural drag

SINGAPORE, Dec 17 (Reuters) – Singapore reported a surprise
fall in November non-oil domestic exports, indicating the strong
recovery in October’s electronics shipments was a Christmas blip
while raising deep concerns about the city-state’s
pharmaceutical sector.

Trade agency International Enterprise Singapore (IE
Singapore) said on Tuesday non-oil domestic exports fell 8.8
percent in November from a year ago, surprising economists whose
median estimate was for a rise of 4.3 percent.

Dec 10, 2013

No Pacific trade pact this year, ministers to try again next month

SINGAPORE (Reuters) – An ambitious trade pact between a dozen countries around the Pacific Rim will not be finalized this year as hoped, with no agreement on thorny issues like intellectual property, agricultural tariffs and state-owned enterprises.

The U.S.-backed deal, which Washington wanted to conclude this year, aims to establish a free-trade bloc stretching from Vietnam to Chile and Japan, encompassing about 800 million people and almost 40 percent of the global economy. But differences over farm tariffs between the United States and Japan proved to be one of the major roadblocks.

Nov 21, 2013

Singapore ups 2013 GDP outlook to 3.5-4.0 percent as third quarter tops forecasts

SINGAPORE (Reuters) – Singapore on Thursday raised its full-year growth forecast for 2013 to between 3.5 and 4.0 percent as third-quarter GDP numbers exceeded prior estimates, helped by further signs of a recovery in manufacturing and continued strength in services.

The wealthy Southeast Asian city-state, which narrowly dodged a recession last year amid flagging demand for its exports, began a turnaround in the second quarter as manufacturing recovered and trade-related services boomed.

Nov 14, 2013

IMF says Singapore needs to narrow current account surplus

SINGAPORE (Reuters) – Singapore needs to narrow its huge current account surplus further and the International Monetary Fund supports the government’s plans to raise public spending on infrastructure and social services, the IMF said on Thursday.

“Singapore’s external position appears to be stronger than warranted by fundamentals, suggesting the importance of further efforts to narrow the current account surplus over the medium term,” the IMF said on Thursday in its annual review of economic developments and policies in the wealthy Southeast Asian city-state.

Nov 12, 2013

Singapore arrests man, investigates others over hacker attacks

SINGAPORE (Reuters) – Singapore charged on Tuesday a 35-year-old man suspected of hacking a website linked to the prime minister and police said five other men were assisting in separate investigations into a recent series of high-profile hacker attacks.

Hacker attacks by people claiming links to international hacker collective Anonymous, including one on the official sites of Prime Minister Lee Hsien Loong and President Tony Tan, have raised questions about the strength of cyber defenses in the wealthy Southeast Asian city-state.

Nov 4, 2013

Singapore on alert for cyber attacks after websites hacked

SINGAPORE, Nov 4 (Reuters) – Singapore’s government has been
put on heightened alert for cyber attacks after people claiming
to be from international hacking collective Anonymous defaced
several web sites in the city-state and threatened further
action.

“Government agencies have been on heightened vigilance and
have enhanced the security of their IT systems in response to
the declared threats against the government’s ICT
infrastructure,” the Infocommunications Development Authority of
Singapore (IDA) said in a statement.

Oct 24, 2013

Singapore ready to assist in global currency rigging probe

SINGAPORE, Oct 24 (Reuters) – Singapore’s central bank said
it was ready to assist in investigations into alleged
manipulation of foreign exchange rates, potentially widening a
probe in the $5.3 trillion-a-day FX market that already involves
authorities in the United States, Britain, Switzerland and Hong
Kong.

The announcement by the Southeast Asian city-state, the
world’s third-largest FX trading centre after London and New
York, comes just a week after Hong Kong said it was talking to
foreign regulators and banks about the market rigging
allegations.

Oct 23, 2013

Australia inflation surprise, China rates highlight Asia price pressures

SYDNEY/SINGAPORE (Reuters) – Inflation fears heightened in Asia on Wednesday as price pressures in Australia intensified and as China’s short-term interest rates shot higher on concerns the central bank may soon tighten liquidity.

The pick-up in price pressures could limit the ability of policymakers to inject more stimulus if needed as a weak global recovery dampens demand for the region’s exports, weighing on economic growth.

Oct 23, 2013

Australia inflation surprise highlights rising price pressures in Asia

SYDNEY/SINGAPORE (Reuters) – Inflation in Australia quickened in the September quarter, the latest in the Asia Pacific region to show a pick-up in price pressures that could limit the scope for policymakers to inject more stimulus if needed.

Australia’s quarterly headline inflation sped up to 1.2 percent in the third quarter from 0.4 percent in the second, data from the Australian Bureau of Statistics showed on Wednesday, reflecting in part a spike in fuel prices.