Singapore Economy
Precision medicine to be covered by MediShield Life; new law mooted to govern genetic test use
Precision medicine therapies will be covered under MediShield Life as part of ongoing measures to keep such treatments affordable for Singaporeans, said Health Minister Ong Ye Kung on Thursday (Oct 10).
https://www.businesstimes.com.sg/singapore/economy-policy/precision-medicine-be-covered-medishield-life-new-law-mooted-govern-genetic-test-use
https://www.straitstimes.com/singapore/health/precision-medicine-added-to-medishield-life-coverage-new-law-mooted-to-govern-genetic-test-use
https://www.channelnewsasia.com/singapore/national-wages-council-wage-increase-recommendation-bonus-salary-increment-4670286
National Wages Council recommends 5.5% to 7.5% pay raise for lower-wage workers in coming year
Singapore’s lower-wage workers should get a built-in monthly wage increase of 5.5 to 7.5 per cent, or at least S$100 to S$200, whichever is higher, the National Wages Council (NWC) said in its latest guidelines on Thursday (Oct 10).
https://www.businesstimes.com.sg/singapore/economy-policy/national-wages-council-recommends-5-5-7-5-pay-raise-lower-wage-workers-coming-year
https://www.straitstimes.com/singapore/jobs/at-least-55-pay-rise-for-lower-wage-workers-among-latest-national-wages-council-guidelines
https://www.zaobao.com.sg/news/singapore/story20241011-5035055
Latest Singapore 6-month T-bill cut-off yield rises to 3.06%
The cut-off yield on the latest Singapore six-month Treasury bill (T-bill) rose to 3.06 per cent, auction results released by the Monetary Authority of Singapore on Thursday (Oct 10) indicated.
https://www.businesstimes.com.sg/companies-markets/latest-singapore-6-month-t-bill-cut-yield-rises-3-06
Business News
BlackRock, GIC to invest in Hyundai Motor India’s record-breaking IPO
BlackRock and Singapore sovereign wealth fund GIC are among those that have made bids to buy stock in Hyundai Motor India’s US$3.3 billion (S$4.3 billion) initial public offering (IPO), according to sources familiar with the matter.
https://www.straitstimes.com/business/blackrock-gic-to-invest-in-hyundai-motor-india-s-record-breaking-ipo
https://www.businesstimes.com.sg/companies-markets/transport-logistics/blackrock-gic-invest-hyundai-motor-india-ipo
FLCT renews 12-year lease for Australian office building
The manager of Frasers Logistics and Commercial Trust : BUOU -1.74% (FLCT) on Thursday (Oct 10) said the trust has renewed the lease at its Grade A office building in Canberra, Australia, for 12 years beginning Jul 5, 2025.
https://www.businesstimes.com.sg/companies-markets/flct-renews-12-year-lease-australian-office-building
Singtel launches AI cloud service; to process data locally for sensitive sectors, government
Sensitive sectors, such as banking, healthcare and the public sector, will soon be able to tap telco giant Singtel’s artificial intelligence (AI) cloud offering.
https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/singtel-launches-ai-cloud-service-process-data-locally-sensitive-sectors-government
Global Economy & Real Estate
Global trade could climb 3% in 2025 if MidEast conflicts contained, says WTO
https://www.businesstimes.com.sg/international/global-trade-could-climb-3-2025-if-mideast-conflicts-contained-says-wto
US consumer prices up slightly; jobless claims surge
https://www.businesstimes.com.sg/international/us-consumer-prices-slightly-jobless-claims-surge
https://www.straitstimes.com/business/economy/us-consumer-prices-rise-slightly-above-expectations-in-september
Mortgage rates jump most since April, sending 30-year to 6.32%
https://www.businesstimes.com.sg/property/mortgage-rates-jump-most-april-sending-30-year-6-32
Fed’s Goolsbee shrugs off CPI report, points to inflation trend
https://www.businesstimes.com.sg/international/feds-goolsbee-shrugs-cpi-report-points-inflation-trend
China investors expect two trillion yuan of new stimulus this weekend
https://www.businesstimes.com.sg/international/china-investors-expect-two-trillion-yuan-new-stimulus-weekend
https://www.straitstimes.com/business/economy/china-investors-expect-369-billion-of-new-stimulus-this-weekend
China publishes draft law to promote private sector
https://www.businesstimes.com.sg/international/china-publishes-draft-law-promote-private-sector
French government to present 2025 belt-tightening budget
https://www.businesstimes.com.sg/international/french-government-present-2025-belt-tightening-budget
Hong Kong employees receive 3.2% pay rise, lowest since latter stages of pandemic: survey
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3281820/hong-kong-employees-receive-lowest-pay-rise-32-pandemic-human-resources-expert
Hong Kong policy address 2024: John Lee to consider more SME help amid rising closures
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3281901/hong-kong-policy-address-2024-john-lee-consider-more-sme-help-amid-rising-closures
Mainland Chinese buyers help fuel Hong Kong property sales after cooling measures scrapped
https://www.scmp.com/business/article/3281885/mainland-chinese-buyers-help-fuel-hong-kong-property-sales-after-cooling-measures-scrapped
BOJ will hike rates if it has more confidence in forecasts, says deputy governor Himino
https://www.channelnewsasia.com/business/boj-will-hike-rates-if-it-has-more-confidence-forecasts-says-deputy-governor-himino-4670481
Nearly 86% of Japan households expect prices to rise a year from now, BOJ says
https://www.channelnewsasia.com/business/nearly-86-japan-households-expect-prices-rise-year-now-boj-says-4670036
Japan’s wholesale inflation perks up; yen rise eases cost pressure
https://www.businesstimes.com.sg/international/japans-wholesale-inflation-perks-yen-rise-eases-cost-pressure
New York City apartment renters get a break but bargains remain elusive
https://www.businesstimes.com.sg/property/new-york-city-apartment-renters-get-break-bargains-remain-elusive
South Korea’s central bank cuts rates as slumping economy slows inflation
https://www.channelnewsasia.com/business/south-koreas-central-bank-cuts-rates-slumping-economy-slows-inflation-4672111
https://www.businesstimes.com.sg/companies-markets/banking-finance/south-koreas-central-bank-cuts-rates-slumping-economy-slows-inflation
Cooling in Seoul’s apartment market pauses ahead of BOK meeting
https://www.businesstimes.com.sg/property/cooling-seouls-apartment-market-pauses-ahead-bok-meeting
Thai consumer confidence falls to 17-month low in September
https://www.channelnewsasia.com/business/thai-consumer-confidence-falls-17-month-low-september-4670131
Mortgage giant calls for money to coax older Britons to downsize
https://www.businesstimes.com.sg/property/mortgage-giant-calls-money-coax-older-britons-downsize
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