SINGAPORE, Feb 7 (Reuters) – Singapore Airlines Ltd
reported a slightly weaker-than-expected 6 percent
rise in third quarter net profit as earnings from the sale of
aircraft and spares offset losses at its cargo unit, and it
warned of tough conditions ahead.
“The outlook for international air travel demand continues
to be challenging and the cargo market remains depressed amid
the troubled European economy and the weak recovery in the
United States,” the Singapore flag carrier said in a statement.
SINGAPORE, Jan 29 (Reuters) – Have more babies to build the
ranks of Singaporeans and get set for a construction boom but
accept heavier congestion and more foreign workers as the
crowded Asian city-state grows into a global centre with 30
percent more people.
That is the vision for Singapore set out on Tuesday by the
long-ruling government, just days after it lost a seat in
parliament in a by-election defeat that reflected rising
discontent over soaring costs and an influx of immigrants.
SINGAPORE, Jan 28 (Reuters) – Rich and orderly Singapore, a
regional base for many multinationals and fund managers, is one
of Asia’s smoothest-running and least risky countries, and is
rated triple-A by both Moody’s and Standard & Poor’s.
Economic growth is slowing, however, and discontent with the
ruling party is on the rise amid high inflation and income
inequality that is among the most extreme in the developed
SINGAPORE (Reuters) – Sky-high housing prices. Train breakdowns. Foreigners stealing jobs, and a widening chasm between rich and poor.
A by-election in Singapore on Saturday is putting a spotlight on strains and discontent in one of Asia’s wealthiest countries and biggest success stories: the transformation of a post-colonial backwater into an economic powerhouse.
SINGAPORE, Jan 25 (Reuters) – Singapore’s industrial output
in December nearly matched the year-earlier level as higher
production of drugs and oil rigs offset continued weakness in
electronics, easing fears that fourth quarter gross domestic
product data would be revised downwards.
The Economic Development Board (EDB) said on Friday
industrial production slipped 0.6 percent in December from a
year ago as a 21.0 percent jump in pharmaceuticals and a 14.8
percent rise in marine and offshore engineering offset a 16.9
percent year-on-year drop in electronics.
SINGAPORE/HONG KONG, Jan 16 (Reuters) – Singapore and Hong
Kong now have identical 15 percent levies to slow the foreign
money that has added fuel to their overheated property markets -
measures that will help first-time buyers but throw the
spotlight on investors’ next targets.
The curbs on residential real estate purchases could shift
demand to retail and industrial spaces, diverting billions of
dollars to those sectors as well as to housing markets in the
United States, Canada, Australia and Malaysia.
SINGAPORE, Jan 11 (Reuters) – Singapore on Friday increased
a tax on foreign buyers as part of new measures to cool its
housing market which has seen continued strong demand in the
face of a weak economy and previous efforts to curb prices.
Foreigners and corporates who buy residential property in
Singapore will now be subject to an additional buyer’s stamp
duty (ABSD) of 15 percent of the purchase price, up from the
previous 10 percent.
SINGAPORE, Jan 8 (Reuters) – In any casino, the odds favour
the house. Using its house edge, Singapore is seeking to
maximise economic profits and minimise social costs with tighter
rules and tougher fines for two casino operators, along with new
steps to curb problem gambling.
The wealthy and regimented city-state has enjoyed a windfall
of tourism, jobs and revenue since Las Vegas Sands Corp
and Genting Singapore Plc opened casino complexes in
2010, in part by linking their licences to how well they develop
attractions that are not related to gambling.
SINGAPORE, Jan 3 (Reuters) – Southeast Asia’s largest
property developer CapitaLand Ltd is restructuring its
businesses to focus on its core markets of Singapore and China,
which together account for more than half of its revenue.
CapitaLand, about 40 percent-owned by Singapore state
investor Temasek Holdings, is considering exiting from
the office and home segments in the United Kingdom and India,
but will remain invested in serviced residences and malls, Chief
Executive Officer Lim Ming Yan said on Thursday.
SINGAPORE, Jan 2 (Reuters) – Singapore’s economy grew in the
last three months of 2012, avoiding an expected recession as
services put in a strong showing and gross domestic product
(GDP) data for the first three quarters was revised downwards.
Singapore, whose trade is around three times GDP, has been
badly hit by the weakness in Western economies that has crimped
demand for many of its exports. The Southeast Asian city-state’s
electronic manufacturers have also failed to tap surging demand
for smartphones, unlike rivals in South Korea and Taiwan.