If oil market players thought things could not get any worse after this hellish year, then they might be in for a nasty surprise next year. Prices have hit rock bottom over the past 12 months, but hopes of a…
Singapore factory output rebounds with 17.9% rise in November
SINGAPORE – Singapore’s manufacturing industry bounced back with a bigger-than-expected rise in November, boosted by a surge in biomedical and semiconductor production. Factory output expanded 17.9 per cent year on year, following a revised 0.8 per cent dip in October,…
Covid-19 wiped out 81 million jobs in Asia-Pacific this year: UN agency
GENEVA (BLOOMBERG) – The economic blow from coronavirus has wiped out 81 million jobs across Asia-Pacific this year, with women and young people disproportionately affected, according to the International Labour Organization (ILO). “Covid-19 has inflicted a hammer-blow on the region’s…
US and Singapore ink memorandum to improve trade relations
WASHINGTON (AFP) – The United States on Tuesday (Dec 15) announced it had signed a memorandum of understanding to improve trade relations with Singapore, as both countries eye economic recoveries following the Covid-19 pandemic. The United States is already the…
US economy to slow in first quarter of 2021 but reach pre-Covid levels in a year: Poll
BENGALURU (REUTERS) – US economic growth will lose momentum this quarter and next but expand faster than previously thought after that, according to a Reuters poll of economists, a firm majority of whom now expect the economy to reach pre-Covid-19…
Singapore can add to global recovery from Covid-19 with investment in innovation, collaboration: DPM Heng
SINGAPORE – Continued investment and global collaboration are ways in which Singapore can contribute to global recovery amid the coronavirus pandemic, said Deputy Prime Minister Heng Swee Keat on Monday (Dec 7). As new opportunities are created through technology and…
Retail, F&B sales in Singapore drop at smaller rate in October
SINGAPORE – The slump in retail sales eased in October, although most segments still registered double-digit declines, according to data out by the Department of Statistics on Friday (Dec 4). Takings at the till dropped 8.6 per cent, compared with…
Companies, banks remain resilient amid Covid-19 fallout but must stay prudent: MAS
SINGAPORE – Companies in Singapore suffered a significant fall in earnings due to the Covid-19 pandemic and sank deeper into debt, although most should still be able to withstand short-term financial pressures for now, the Monetary Authority of Singapore (MAS)…
GLOBAL MARKETS-World stocks boast record-breaking month, led by Europe
* Asian stock markets : tmsnrt.rs/2zpUAr4 * Nikkei set for best month since 1990 * Dollar and gold out of favour, investors embrace risk * Oil, industrial commodities lifted by recovery bets * Sovereign bonds supported by central bank buying…
Going green could bring Asean $1.3 trillion in benefits: Report
Going green could bring up to US$1 trillion (S$1.3 trillion) in annual economic benefits to South-east Asian economies by 2030, a report by global management consulting firm Bain and Company said yesterday. Greater investments in renewable energy, reduced consumption and…