Singapore Economy
Singapore pledges support for more global cooperation in helping fraud victims recover funds
Singapore is among 11 countries that endorsed a statement released at the inaugural Global Fraud Summit pledging stronger collaboration between countries in the fight against fraud. This is the first time a ministerial-level summit was convened for fraud and it took place in London on Mar 11 and 12.
https://www.businesstimes.com.sg/singapore/singapore-pledges-support-more-global-cooperation-helping-fraud-victims-recover-funds
https://www.straitstimes.com/singapore/singapore-pledges-support-for-more-global-cooperation-in-helping-fraud-victims-recover-funds
https://www.channelnewsasia.com/singapore/scams-global-fraud-summit-singapore-communique-josephine-teo-4191516
A balancing act – Singapore’s tax policy in a brave new world
Budget 2024 demonstrated the government’s firm focus on providing opportunities and assurance to all of Singapore, and sends a strong message of its commitment to pursuing sustainable growth, maintaining an innovative and vibrant economy while safeguarding what makes the nation resilient.
https://www.businesstimes.com.sg/opinion-features/balancing-act-singapore-s-tax-policy-brave-new-world
Economists raise Singapore’s 2024 growth forecast to 2.4%; expect lower headline inflation of 3.1%: survey
Private-sector economists marginally raised their forecast for Singapore’s 2024 economic growth and lowered their expectations for headline inflation, in the latest quarterly survey of professional forecasters published by the Monetary Authority of Singapore (MAS) on Wednesday (Mar 13).
https://www.businesstimes.com.sg/singapore/economists-raise-singapore-s-2024-growth-forecast-2.4-expect-lower-headline-inflation-3.1-survey
https://www.straitstimes.com/business/economists-raise-singapore-s-2024-growth-forecast-on-hopes-of-global-demand-pickup-mas-survey
https://www.todayonline.com/singapore/singapore-endorses-communique-tackling-scams-inaugural-global-fraud-summit-2382181
Commentary: Though inflation is easing, Singaporeans are still feeling the pinch
Singapore: One does not need a Master of Economics to have felt acutely the recent impact of inflation. In the last few years, prices of everything from kaya toast to Certificate of Entitlement (COE) premiums have risen.
https://www.channelnewsasia.com/commentary/singapore-inflation-economy-gdp-income-growth-mas-monetary-policy-4192096
Over half in Singapore say society, technology changing too fast, and in ways that don’t benefit them: Survey
Singapore: More than half of people here believe that society and technology are changing too quickly and in ways that do not benefit them, a survey has found. More than one in four (28 per cent) of Singapore respondents also believe innovation is poorly managed, while 24 per cent say it is well managed, the survey by global public relations firm Edelman said.
https://www.channelnewsasia.com/singapore/singapore-society-technology-change-survey-4191971
https://www.todayonline.com/singapore/over-half-spore-say-society-tech-change-too-fast-not-benefit-survey-2381091
Business News
Russell Tham named new IMDA chairman as outgoing head Chan Yeng Kit joins SPH Media board
Singapore – Mr Russell Tham, Temasek Holdings’ head of emerging technologies, will join the Infocomm Media Development Authority (IMDA) board as its new chairman from March 15. He succeeds Mr Chan Yeng Kit, who will join SPH Media Holdings as a board member.
https://www.straitstimes.com/singapore/russell-tham-named-new-imda-chairman-as-outgoing-head-chan-yeng-kit-joins-sph-media-board
https://www.todayonline.com/singapore/russell-tham-take-over-imda-chairman-chan-yeng-kit-join-sph-media-board-after-stepping-down-2381871
https://www.channelnewsasia.com/singapore/imda-russell-tham-new-chairman-chan-yeng-kit-mar-15-mci-4192026
Changi Airport traffic exceeds pre-pandemic levels in February
Singapore – Passenger traffic at Changi Airport crossed pre-pandemic levels for the first time in February, hitting 104.3 per cent of the numbers recorded in February 2019. There were 5.35 million passenger movements in February 2024, said Changi Airport Group (CAG) on March 13.
https://www.straitstimes.com/singapore/transport/changi-airport-traffic-exceeds-pre-pandemic-levels-in-february-2024
Surbana Jurong unveils global headquarters in Jurong Innovation District
Urban design and engineering consultancy Surbana Jurong (SJ) on Wednesday (Mar 13) opened its new global headquarters, SJ Campus. Located within CleanTech Park in Singapore’s Jurong Innovation District (JID), the campus has a built-up area of 1,200,000 square feet and can accommodate 4,000 employees and the wider community.
https://www.businesstimes.com.sg/property/surbana-jurong-unveils-global-headquarters-jurong-innovation-district
https://www.straitstimes.com/business/surbana-jurong-s-in-house-expertise-helped-shave-up-to-15-in-costs-to-build-its-new-400m-campus
Global Economy & Real Estate
Rich nations are leaving poor behind in risk to global stability, UN says
https://www.businesstimes.com.sg/international/rich-nations-are-leaving-poor-behind-risk-global-stability-un-says
US office market is world’s most oversupplied, Brookfield tells MIPIM
https://www.businesstimes.com.sg/property/us-office-market-world-s-most-oversupplied-brookfield-tells-mipim
US 30-year mortgage rate drops below 7%, spurring home purchases
https://www.businesstimes.com.sg/property/us-30-year-mortgage-rate-drops-below-7-spurring-home-purchases
Goldman Sachs Asset Management to resume US commercial property investment
https://www.businesstimes.com.sg/property/goldman-sachs-asset-management-resume-us-commercial-property-investment
Sydney faces growing pains as its housing crisis deepens
https://www.businesstimes.com.sg/property/sydney-faces-growing-pains-its-housing-crisis-deepens
PwC Australia cuts hundreds of jobs in overhaul to lower costs
https://www.businesstimes.com.sg/companies-markets/pwc-australia-cuts-hundreds-jobs-overhaul-lower-costs
Property titans seek clues in Cannes for market turnaround
https://www.businesstimes.com.sg/property/property-titans-seek-clues-cannes-market-turnaround
UBS starts job cuts at Asia wealth unit after profit slump
https://www.businesstimes.com.sg/companies-markets/banking-finance/ubs-starts-job-cuts-asia-wealth-unit-after-profit-slump
https://www.straitstimes.com/business/banking/ubs-starts-job-cuts-at-asia-wealth-unit-after-profit-slump
Southeast Asia’s digital economy drives private capital interest, but few exit deals threaten region’s attractiveness
https://www.scmp.com/tech/tech-trends/article/3255213/southeast-asias-digital-economy-drives-private-capital-interest-few-exit-deals-threaten-regions
China’s Shanghai tries to shore up foreign confidence with promise-laden action plan that’s filled with uncertainty
https://www.scmp.com/economy/economic-indicators/article/3255241/chinas-shanghai-tries-shore-foreign-confidence-promise-laden-action-plan-thats-filled-uncertainty
Land has played a critical role in China’s economic rise, but is it time for reform?
https://www.scmp.com/economy/economic-indicators/article/3255229/land-has-played-critical-role-chinas-economic-rise-it-time-reform
Rising mortgage defaults bring more pain to Chinese households
https://www.businesstimes.com.sg/companies-markets/rising-mortgage-defaults-bring-more-pain-chinese-households
China’s Gen Z digitises consumption with new tech, shifting preferences
https://www.scmp.com/economy/china-economy/article/3255244/chinas-gen-z-digitises-consumption-new-tech-shifting-preferences
Eurozone production slumps as economy starts 2024 with stumble
https://www.businesstimes.com.sg/international/eurozone-production-slumps-economy-starts-2024-stumble
French central bank trims 2024 growth outlook
https://www.straitstimes.com/business/economy/french-central-bank-trims-2024-growth-outlook
Hong Kong firms toughest in enforcing back to office in Asia: survey
https://www.businesstimes.com.sg/international/global/hong-kong-firms-toughest-enforcing-back-office-asia-survey
BOJ views wage talks as key to timing of stimulus exit, Ueda says
https://www.businesstimes.com.sg/international/boj-views-wage-talks-key-timing-stimulus-exit-ueda-says
Saudi Arabia gets US$13 billion in investment in tourism boost
https://www.businesstimes.com.sg/international/saudi-arabia-gets-us-13-billion-investment-tourism-boost
Thai central bank ramps up steps to cut 91% household debt ratio
https://www.businesstimes.com.sg/international/asean/thai-central-bank-ramps-steps-cut-91-household-debt-ratio
Taiwan central bank sees CPI rising less than 2%, to apply moderate tightening
https://www.channelnewsasia.com/business/taiwan-central-bank-sees-cpi-rising-less-2-apply-moderate-tightening-4191746
Thai industrial sentiment falls slightly in February on slower domestic demand, exports
https://www.businesstimes.com.sg/international/thai-industrial-sentiment-falls-slightly-february-slower-domestic-demand-exports
UK economy returns to growth at start of 2024
https://www.businesstimes.com.sg/international/uk-economy-returns-growth-start-2024
https://www.straitstimes.com/business/economy/uk-economy-returns-to-growth-at-start-of-2024
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