The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 17 May 2023 (Wed)

Singapore Economy


Singapore and South Africa sign agreements to collaborate on ICT, skills development
Singapore: Singapore and South Africa on Tuesday (May 16) signed Memorandums of Understanding (MOU) to collaborate on areas like information and communications technology (ICT), and skills development.


Singapore key exports contract 9.8% in April in seventh straight month of decline
Singapore’s non-oil domestic exports (NODX) shrank for the seventh straight month on the year in April, down 9.8 per cent, deepening from the previous month’s 8.3 per cent contraction, Enterprise Singapore’s figures showed on Wednesday (May 17).



Companies’ Brief


CapitaLand Ascendas Reit’s private placement closes at S$2.727 apiece; upsizes placement to raise S$500 million
CapitaLand Ascendas Reit (Clar) has closed its private placement at S$2.727 apiece with 183,352,000 new units issued, said the real estate investment trust’s (Reit) manager on Wednesday (May 17).


Citigroup appoints head of international personal bank in Singapore
Citigroup has appointed Sharad Mohan as its head of international personal bank in Singapore, the banking group said on Tuesday (May 16). Mohan, who was most recently head of retail banking for Citi India, will be responsible for the strategic direction and performance of Citi’s offshore wealth management business serving affluent and high-net-worth individuals primarily domiciled across the region, Citi said.



Global Economy & Real Estate


UN forecasts world economic growth of 2.3% in 2023, 2.5% in 2024


US homebuilder sentiment rises to 10-month high in May


US business inventories fall in March


US retail sales increase moderately; core sales strong


Inflation in Canada quickens to 4.4% with housing costs rising


UK’s Landsec swings to annual loss as property valuation drops


UK jobless rate rises as people return to labour market


Luxury London home sellers offer discounts galore as deals slump


New Zealand budget to show rising debt, wider deficits as economy slows


China new home prices rise at slower pace in April


China’s property investment, sales drop sharply in April on subdued demand


China’s developers keep their investment powder dry even as home sales improved in the first 4 months of 2023


Moody’s changes tune on Chinese property, raises sector’s creditworthiness for first time in about 2 years


Hong Kong’s ageing population time bomb to leave a shortage of 60,000 residences for the elderly by 2032: JLL


China’s factory output, consumption highlight frail post-Covid economic recovery


China’s record-high youth jobless rate is set to get even worse


Japan’s economy expands more than expected on post-Covid spending


Malaysia eyes late surge in tourist arrivals to meet 2023 target


Malaysia eager to reel in Asia’s wealthy with tweaks to visa scheme



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