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.
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.
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.
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.
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
“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.
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
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
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.
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.
SINGAPORE (Reuters) – Singapore’s central bank warned that core inflation is likely to accelerate in 2014 as it stuck to its tight monetary policy stance of allowing a “modest and gradual” appreciation of the local dollar on Monday, sending the Singapore dollar higher.
The decision, which was widely expected, came as the wealthy, trade-dependent Southeast Asian city-state reported a better-than-expected 5.1 percent growth in third quarter gross domestic product from a year ago due to the continued strength in services.
SINGAPORE (Reuters) – The World Bank lowered its 2013 and 2014 economic growth forecasts for China and most of developing East Asia on Monday, citing slower growth in the world’s most populous nation as well as weaker commodity prices that have hurt exports and investments in countries such as Indonesia.
“Developing East Asia is expanding at a slower pace as China shifts from an export-oriented economy and focuses on domestic demand,” the World Bank said in its latest East Asia Pacific Economic Update report.