Singapore Real Estate
Singapore new private home sales more than doubled to 1,356 units in May
New private home sales more than doubled in May on the back of major launches. Developers in Singapore sold 1,356 new homes last month, up 105.5 per cent from April’s 660 units. Sales last month also hit a 6-month high as monthly figures have been hovering around 600 units since cooling measures were introduced in December last year.
https://www.businesstimes.com.sg/real-estate/singapore-new-private-home-sales-more-than-doubled-to-1356-units-in-may
https://www.straitstimes.com/business/property/spore-new-private-home-sales-hit-6-month-high-as-tighter-supply-trumps-cooling-measures
Tampines St 21 coffee shop sold for record S$41.68m: 8world report
A coffee shop in Tampines has sold for a record S$41.68 million, according to a report by 8world on Wednesday (Jun 15). The buyer reportedly lodged a caveat with the Singapore Land Authority (SLA) in April for the coffee shop at Block 201 Tampines Street 21, and the transaction is expected to be completed by July, 8world said.
https://www.businesstimes.com.sg/real-estate/tampines-st-21-coffee-shop-sold-for-record-s4168m-8world-report
Singapore Economy
Singapore visitor arrivals continue to rebound strongly in May
Singapore’s international arrivals continued to rebound strongly in May, climbing for the fourth straight month and reaching a new record since the Covid-19 pandemic began, going by the latest figures from the Singapore Tourism Board (STB).
https://www.businesstimes.com.sg/government-economy/singapore-visitor-arrivals-continue-to-rebound-strongly-in-may
Travel and hospitality players go digital for the return of physical travel
As Singapore’s tourism industry begins to recover, some local travel and hospitality players have gone digital – not as a replacement for real-world travel, but to welcome more visitors after 2 years of border restrictions.
https://www.businesstimes.com.sg/sme/travel-and-hospitality-players-go-digital-for-the-return-of-physical-travel
Sinovac’s 10 billion yuan plans include new facility, global HQ in Singapore: Lianhe Zaobao
Chinese vaccine maker Sinovac Biotech is investing 10 billion yuan (S$2 billion) in a development plan which includes opening a research facility and its international headquarters in Singapore, Lianhe Zaobao reported on Wednesday (Jun 15).
https://www.businesstimes.com.sg/government-economy/sinovacs-10-billion-yuan-plans-include-new-facility-global-hq-in-singapore-lianhe
Views, Reviews, Forum and Others
Making sense of the sound and fury of strategic theatre at the Shangri-La Dialogue
Winding up one of the plenary sessions at the recently-concluded Shangri-La Dialogue, conference host John Chipman of the International Institute for Strategic Studies mused about how the global security environment was set to change with Germany and Japan having announced plans for massive increases in defence outlays.
https://www.straitstimes.com/opinion/making-sense-of-the-sound-and-fury-of-strategic-theatre-at-the-shangri-la-dialogue
Shangri-La Dialogue – keeping channels open in dangerous times
What happens when you gather defence ministers and their officials from 59 countries, including from the two most powerful in the world, under one roof to talk about war and peace? You hope they won’t spend the time discussing their war plans and how to inflict the greatest pain on their enemies.
https://www.straitstimes.com/opinion/shangri-la-dialogue-keeping-channels-open-in-dangerous-times
Global Economy & Global Real Estate
Federal Reserve rolls out biggest rate hike since 1994, flags slowing US economy
https://www.businesstimes.com.sg/government-economy/federal-reserve-rolls-out-biggest-rate-hike-since-1994-flags-slowing-us-economy
https://www.straitstimes.com/business/economy/fed-hikes-us-interest-rate-075-points-biggest-since-1994
Fed’s inflation fight spells pain ahead for ‘tight’ labour market
https://www.businesstimes.com.sg/government-economy/feds-inflation-fight-spells-pain-ahead-for-tight-labour-market
US mortgage interest rates jump to highest level since 2008
https://www.businesstimes.com.sg/real-estate/us-mortgage-interest-rates-jump-to-highest-level-since-2008
US retail sales post first drop in 5 months as auto purchases plunge
https://www.businesstimes.com.sg/government-economy/us-retail-sales-post-first-drop-in-5-months-as-auto-purchases-plunge
US business inventories rise strongly; sales slow
https://www.businesstimes.com.sg/government-economy/us-business-inventories-rise-strongly-sales-slow
Bitcoin, crypto bounce as post-Fed relief rally sweeps across risk assets
https://www.straitstimes.com/business/companies-markets/bitcoin-crypto-bounce-as-post-fed-relief-rally-sweeps-across-risk-assets
Bitcoin rout hits ‘darkest’ phase with entire market underwater
https://www.businesstimes.com.sg/banking-finance/bitcoin-rout-hits-darkest-phase-with-entire-market-underwater
https://www.straitstimes.com/business/companies-markets/bitcoin-steadies-after-heavy-losses-but-pessimism-reigns-in-crypto-markets
https://www.straitstimes.com/business/economy/crypto-crash-whats-causing-the-rout-in-cryptocurrencies
Bank of England set for fifth rate hike in row as inflation soars
https://www.businesstimes.com.sg/government-economy/bank-of-england-set-for-fifth-rate-hike-in-row-as-inflation-soars
New Zealand economy surprisingly contracts as Covid spread
https://www.businesstimes.com.sg/government-economy/new-zealand-economy-surprisingly-contracts-as-covid-spread
https://www.straitstimes.com/business/economy/new-zealand-economy-unexpectedly-shrinks-in-first-quarter-as-covid-19-spread
New Zealand scraps Covid-19 test rule for people entering country
https://www.straitstimes.com/asia/australianz/new-zealand-scraps-covid-19-test-rule-for-people-entering-country
Brazil hikes key interest rate 0.5 point to fight inflation
https://www.businesstimes.com.sg/government-economy/brazil-hikes-key-interest-rate-05-point-to-fight-inflation
China May property sales fall at slower pace as policies buoy demand
https://www.businesstimes.com.sg/real-estate/china-may-property-sales-fall-at-slower-pace-as-policies-buoy-demand
China to ramp up support for economy, avoid excessive stimulus
https://www.businesstimes.com.sg/government-economy/china-to-ramp-up-support-for-economy-avoid-excessive-stimulus
https://www.straitstimes.com/asia/east-asia/china-economy-picks-up-slightly-in-may-as-retail-decline-slows-and-factory-output-rises
Shanghai’s reopening comes too late for stressed dvelopers
https://www.businesstimes.com.sg/real-estate/shanghais-reopening-comes-too-late-for-stressed-dvelopers
Taiwan set for back-to-back rate hikes for first time since 2011
https://www.businesstimes.com.sg/government-economy/taiwan-set-for-back-to-back-rate-hikes-for-first-time-since-2011
Japan posts biggest trade deficit in more than 8 years in May
https://www.businesstimes.com.sg/government-economy/japan-posts-biggest-trade-deficit-in-more-than-8-years-in-may
https://www.straitstimes.com/business/economy/japan-posts-biggest-trade-deficit-in-more-than-8-years-after-yen-sinks
More than 80% of Japanese firms back nuclear restart, tourism resumption
https://www.businesstimes.com.sg/global-enterprise/more-than-80-of-japanese-firms-back-nuclear-restart-tourism-resumption
https://www.straitstimes.com/asia/east-asia/more-than-80-of-japanese-firms-back-nuclear-restart-tourism-resumption-survey