Singapore Economy
Singapore in a phase where ‘we have to do more together’: PM Lee
Singapore must now “do more together” to help those who fall behind, compared to the “very rigorous” approach of earlier years, Prime Minister Lee Hsien Loong said on the first day of the Bloomberg New Economy Forum on Wednesday (Nov 8).
https://www.businesstimes.com.sg/singapore/singapore-phase-where-we-have-do-more-together-pm-lee
https://www.straitstimes.com/singapore/s-pore-must-be-rigorous-in-helping-those-not-catching-up-says-pm-lee
Fewer Singaporeans able to spend beyond basics and more are short on emergency funds
Fewer Singaporeans are able to comfortably spend on things beyond the basics, and more do not have sufficient emergency funds or enough savings to meet their families’ needs over the next year, a survey by OCBC found.
https://www.businesstimes.com.sg/companies-markets/fewer-singaporeans-able-spend-beyond-basics-and-more-are-short-emergency-funds
Companies’ Brief
CapitaLand Investment 9M revenue drops 3% to S$2.1 billion on weaker real estate business
Real estate investment manager CapitaLand Investment (CLI) posted a 3 per cent drop in revenue to S$2.1 billion for the nine months ended Sep 30, compared with S$2.2 billion in the corresponding period the previous year.
https://www.businesstimes.com.sg/companies-markets/capitaland-investment-9m-revenue-drops-3-s21-billion-weaker-real-estate-business
Far East Orchard net profit up 18.8% to S$7.6 million for 9M FY23
Real estate group Far East Orchard posted earnings of S$7.6 million for the first nine months ended September, up 18.8 per from S$6.4 million the year before, on the back of a continued recovery in the hospitality sector.
https://www.businesstimes.com.sg/companies-markets/far-east-orchard-net-profit-188-s76-million-9m-fy23
Tuan Sing needs to be more careful about issuing pricey debt
Debt is expensive these days. That is to be expected in a high interest rate environment. But when property group Tuan Sing Holdings : T24 0% issued S$150 million in four-year Singapore dollar notes at an annual interest rate of 7.5 per cent on Nov 2, it raised some eyebrows.
https://www.businesstimes.com.sg/opinion-features/tuan-sing-needs-be-more-careful-about-issuing-pricey-debt
Global Economy & Real Estate
Powell urges Fed economists to be flexible on forecast methods
https://www.businesstimes.com.sg/international/powell-urges-fed-economists-be-flexible-forecast-methods
Hotel investors are on the hunt for property deals
https://www.businesstimes.com.sg/property/hotel-investors-are-hunt-property-deals
Geopolitical tensions could change US economic outlook: Fed governor
https://www.businesstimes.com.sg/international/global/geopolitical-tensions-could-change-us-economic-outlook-fed-governor
US 30-year mortgage rate tumbles by most in more than a year
https://www.businesstimes.com.sg/property/us-30-year-mortgage-rate-tumbles-most-more-year
US regulator plans to overhaul Federal Home Loan Bank System
https://www.businesstimes.com.sg/property/us-regulator-plans-overhaul-federal-home-loan-bank-system
China unlikely to go down the path of ‘Japanification’: panellists
https://www.businesstimes.com.sg/international/global/china-unlikely-go-down-path-japanification-panellists
https://www.straitstimes.com/business/chinese-economy-different-from-japan-in-its-lost-decade-say-leaders-of-chinese-financial-firms
Dubai home sales zoom past last year’s record in ten months
https://www.businesstimes.com.sg/property/dubai-home-sales-zoom-past-last-years-record-ten-months
Premature ECB rate cuts would be costly mistake, IMF warns
https://www.businesstimes.com.sg/international/premature-ecb-rate-cuts-would-be-costly-mistake-imf-warns
Eurozone consumers raise inflation expectations in headache for ECB
https://www.businesstimes.com.sg/international/eurozone-consumers-raise-inflation-expectations-headache-ecb
German economy to recover only slightly in 2024, says experts group
https://www.businesstimes.com.sg/international/german-economy-recover-only-slightly-2024-says-experts-group
Samsung SDS Tower sold for US$630 mil, largest deal in South Korea to date this year
https://www.edgeprop.sg/property-news/samsung-sds-tower-sold-us630-mil-largest-deal-south-korea-date-year
New Zealand inflation expectations fall to two-year lows in Q4: central bank survey
https://www.businesstimes.com.sg/international/new-zealand-inflation-expectations-fall-two-year-lows-q4-central-bank-survey
Swiss house prices hit fresh record amid overheating worries
https://www.businesstimes.com.sg/property/swiss-house-prices-hit-fresh-record-amid-overheating-worries
Texas billionaire sees real estate bargains as ‘debt wall’ looms
https://www.businesstimes.com.sg/property/texas-billionaire-sees-real-estate-bargains-debt-wall-looms
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