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.
SINGAPORE, Sept 24 (Reuters) – Casino operators and
regulators around Asia are watching Singapore’s two
multi-billion-dollar gaming resorts as they focus on tourists
and trade shows to boost revenue in response to restrictions on
gambling and a sluggish broader market.
The city-state has become a playground for Asia’s rich and
famous, with attractions ranging from fancy clubs and
restaurants helmed by Michelin-starred chefs to the world’s only
night-time Formula One race.
SINGAPORE (Reuters) – Singapore’s inflation quickened for a fourth consecutive month in August as the labor market remained tight, reinforcing the widespread view the central bank will keep a tightening bias on monetary policy at its next review in October.
The city-state has been grappling with high inflation over the past two years amid a surge in rents and car prices, even as growth has slowed due to weak demand for its key tech exports.
SINGAPORE (Reuters) – Singapore will require many companies operating in the city-state to consider Singaporeans for skilled job vacancies before turning to candidates from abroad, bowing to public pressure over a surge in foreigners over the past decade.
“The measures might mean more hassle and paperwork for companies, and it might even lower the long-term economic growth rate,” said Michael Wan, an economist with Credit Suisse in Singapore.
SINGAPORE, Sept 17 (Reuters) – Singapore’s non-oil domestic
exports unexpectedly fell in August, pointing to continued
difficulties faced by its manufacturers even as the city-state’s
overall trade figures underscored recent signs of improving
global demand for the region’s shipments.
Singapore, a major regional transhipment hub and home to the
world’s second busiest container port, provides a bird’s
eye-view of the movement of goods to and from the region.
SINGAPORE, Sept 11 (Reuters) – Singapore announced new rules
on Wednesday to cap credit card and other forms of unsecured
lending by banks, amid growing concerns about rising household
debt in Asia by consumers once known for their thrift.
Asia has seen consumer debt levels rise sharply in recent
years due to low interest rates and aggressive lending by banks.
SINGAPORE (Reuters) – International and regional brands expanding into Southeast Asia are giving mall owners along Singapore’s prime Orchard Road a boost, even as retail rents remain flat amid an increase in new malls across the wealthy city-state.
New entrants to Singapore’s retail scene include Spanish designer Adolfo Dominguez (ADZ.MC: Quote, Profile, Research, Stock Buzz) and French lingerie label Etam. Up-and-coming Asian brands are also getting into the act with South Korean shoe maker Spur and Hong Kong fashion retailer i.t opening their first shops in Singapore this year.
SINGAPORE (Reuters) – The Singapore government unveiled a master plan on Sunday to double capacity at Southeast Asia’s busiest airport, build a new waterfront city, move its massive port and relocate a military airbase to free up land for development.
The plan announced by Prime Minister Lee Hsien Loong follows mounting discontent in one of the world’s wealthiest nations over an influx of foreign workers and expatriates blamed for a range of problems – from strained infrastructure to among the highest living costs in Asia.
SINGAPORE, Aug 16 (Reuters) – Singapore’s non-oil domestic
exports fell slightly in July, roughly in line with
expectations, but some indicators continued to point to a
recovery in the city-state’s manufacturing sector.
The wealthy Southeast Asian city-state said shipments from
locally-based manufacturers excluding oil products fell 0.7
percent month-on-month in July after seasonal adjustments,
reversing from June’s 3.3 percent gain.