SINGAPORE ECONOMY
Despite weakness in economy, Singapore not likely to head into recession in 2023: PM Lee
Singapore will likely not head into a recession in 2023, despite sluggishness in the economy, said Prime Minister Lee Hsien Loong on Thursday (Sep 7). On Wednesday, private-sector economists downgraded the Republic’s 2023 growth forecasts to 1 per cent, from 1.4 per cent in the previous quarter.
https://www.businesstimes.com.sg/international/asean/despite-weakness-economy-singapore-not-likely-head-recession-2023-pm-lee
https://www.channelnewsasia.com/asia/singapore-recession-economy-pm-lee-asean-3753561
Land-scarce Singapore fighting ‘existential threat’ of rising sea levels because ‘our lives are at stake’
Singapore launched a research facility on Thursday to find long-term solutions to protect it from the rise in sea levels from climate change that could put the country’s low-lying land at risk of inundation.
https://www.scmp.com/news/asia/southeast-asia/article/3233747/land-scarce-singapore-fighting-existential-threat-rising-sea-levels-because-our-lives-are-stake
Government, unions, employer groups start work on guidelines on flexible work arrangements
Singapore – A new tripartite workgroup formed to develop a set of guidelines on flexible work arrangements (FWAs) met for the first time on Thursday, to set out the areas it will focus on and the results it aims to achieve.
https://www.straitstimes.com/singapore/jobs/government-unions-employer-groups-start-work-on-guidelines-on-flexible-work-arrangements
GLOBAL ECONOMY & REAL ESTATE
Moderna, Pfizer say updated Covid shots generate strong response against newer variant
https://www.businesstimes.com.sg/international/moderna-pfizer-say-updated-covid-shots-generate-strong-response-against-newer-variant
One US Fed model suggests central bank has already beaten inflation
https://www.businesstimes.com.sg/international/one-us-fed-model-suggests-central-bank-has-already-beaten-inflation
US mortgage rates ease from highs, falling for second week
https://www.businesstimes.com.sg/property/us-mortgage-rates-ease-highs-falling-second-week
China’s export slump eases as economy searches for stability
https://www.businesstimes.com.sg/international/chinas-export-slump-eases-economy-searches-stability
https://www.straitstimes.com/business/economy/china-exports-imports-fall-less-than-expected-in-august
Analysis: China needs more than cheaper mortgages to revive spending
https://www.channelnewsasia.com/business/analysischina-needs-more-cheaper-mortgages-revive-spending-3754946
https://www.businesstimes.com.sg/property/china-needs-more-cheaper-mortgages-revive-spending
China’s property sector financial woes ripple through wider economy with billions owed to businesses, workers
https://www.channelnewsasia.com/asia/china-property-real-estate-sector-financial-woes-ripple-through-wider-economy-billions-owed-businesses-workers-construction-housing-bubble-3752616
Hong Kong should cut stamp duty by more than half for residents buying additional home, city’s largest political party says
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3233736/hong-kong-should-cut-stamp-duty-more-half-homeowners-who-are-not-first-time-buyers-citys-largest
Hong Kong’s crumbling old flat tenants left in the lurch as developers and authorities go slow during property downturn
https://www.scmp.com/news/hong-kong/society/article/3233633/hong-kong-urban-renewal-authoritys-hk35-billion-deficit-revives-calls-revise-compensation-old-flats
Sun Hung Kai reports lower profit, is banking on ‘one country, two systems’ amid uncertain global economic outlook
https://www.scmp.com/business/article/3233777/sun-hung-kai-reports-lower-profit-banking-one-country-two-systems-amid-uncertain-global-economic
Japan downgrades Q2 GDP growth on soft capital spending
https://www.channelnewsasia.com/business/japan-downgrades-q2-gdp-growth-soft-capital-spending-3755041
https://www.businesstimes.com.sg/international/japans-economy-grows-slower-pace-firms-cut-spending
Japan real wages fall for 16th straight month in July
https://www.channelnewsasia.com/business/japan-real-wages-fall-16th-straight-month-july-3754991
https://www.businesstimes.com.sg/international/japan-real-wages-fall-16th-straight-month-july
Malaysia maintains 3% key rate as growth and inflation ease
https://www.businesstimes.com.sg/international/asean/malaysia-maintains-3-key-rate-growth-and-inflation-ease
https://www.straitstimes.com/business/economy/malaysia-maintains-3-key-rate-as-growth-and-inflation-ease
https://www.channelnewsasia.com/business/malaysia-central-bank-keeps-rates-hold-inflation-growth-cool-3752786
New York City cracks down on Airbnb, other short-term rentals
https://www.businesstimes.com.sg/property/new-york-city-cracks-down-airbnb-other-short-term-rentals
Thai business group cuts 2023 GDP growth outlook to 2.5%-3.0%
|https://www.businesstimes.com.sg/international/asean/thai-business-group-cuts-2023-gdp-growth-outlook-25-30
https://www.channelnewsasia.com/business/thai-business-group-cuts-2023-gdp-growth-outlook-25-30-3753126
UK house prices fall by most since 2009 as rate rises bite
https://www.businesstimes.com.sg/property/uk-house-prices-fall-most-2009-rate-rises-bite
UK businesses plan smallest price rises since Feb 2022: BOE
https://www.businesstimes.com.sg/international/uk-businesses-plan-smallest-price-rises-feb-2022-boe
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