Singapore Economy
Wealthy here should contribute to society, adhere to Singapore’s norms: DPM Wong
Singapore – The wealthy who park their funds in Singapore should contribute to society through taxes and philanthropy, and adhere to the country’s norms against ostentatious displays of wealth, said Deputy Prime Minister Lawrence Wong on Wednesday.
https://www.straitstimes.com/singapore/politics/wealthy-here-should-contribute-to-society-adhere-to-singapore-s-norms-dpm-lawrence-wong
https://www.businesstimes.com.sg/singapore/wealthy-here-should-contribute-society-adhere-singapores-norms-dpm-wong
Singapore among countries most at risk from rising geopolitical tensions: WTO
Scepticism over the benefits of international trade and multilateral cooperation has been rising, with the economic shocks wrought by Covid-19 and the war in Ukraine fuelling perceptions that globalisation has exposed countries to excessive risks instead of making them stronger, a world trade report revealed on Tuesday (Sep 12).
https://www.businesstimes.com.sg/singapore/singapore-among-countries-most-risk-rising-geopolitical-tensions-wto
https://www.straitstimes.com/business/s-pore-among-countries-most-at-risk-from-rising-geopolitical-tensions-wto
VIEWS, REVIEWS, FORUM AND OTHERS
Strong slate of Mice events around Singapore GP period despite expected fall in race attendance
Singapore – Mice (meetings, incentives, conventions and exhibitions) events remain a strong draw during the Formula One Singapore Grand Prix period this year, despite the expected lower turnout for the night race.
https://www.straitstimes.com/singapore/strong-slate-of-mice-events-around-singapore-grand-prix-period-despite-expected-fal
-in-race-attendance
New tech may facilitate better tracking of potential money launderers, and information exchange
Suspicious transaction reports (STRs) filed by financial institutions are believed to have played a key role in triggering a multi-billion-dollar anti-money laundering bust in Singapore.
https://www.businesstimes.com.sg/opinion-features/columns/new-tech-may-facilitate-better-tracking-potential-money-launderers-and
More time needed to ensure off-dorm lodging for new workers not overcrowded: MOM
Singapore – Additional verification checks, including in-person inspections, may be conducted to ensure that newly arrived migrant workers are not staying in overcrowded off-dormitory accommodation. More time is also needed to check that the required documents are all in order, said the Ministry of Manpower (MOM).
https://www.straitstimes.com/singapore/more-time-needed-to-ensure-off-dorm-lodging-for-new-workers-not-overcrowded-mom
https://www.channelnewsasia.com/singapore/proof-accommodation-singapore-foreign-workers-step-right-direction-regular-checks-mom-3767186
GLOBAL ECONOMY & REAL ESTATE
Global boom in luxury property sales hit by higher interest rates
https://www.businesstimes.com.sg/property/global-boom-luxury-property-sales-hit-higher-interest-rates
US inflation picks up in August, keeping another Fed hike in play this year
https://www.straitstimes.com/business/economy/us-inflation-picks-up-in-august-keeping-another-fed-hike-in-play-this-year
US five-year adjustable-rate mortgage reaches highest since 2011
https://www.businesstimes.com.sg/property/us-five-year-adjustable-rate-mortgage-reaches-highest-2011
Americans are buying up Scotland’s most expensive housing
https://www.businesstimes.com.sg/property/americans-are-buying-scotlands-most-expensive-housing
High costs push home ownership out of reach of younger Americans
https://www.businesstimes.com.sg/property/high-costs-push-home-ownership-out-reach-younger-americans
Amazon unveils US$40 million fund for homeownership in new push
https://www.businesstimes.com.sg/property/amazon-unveils-us40-million-fund-homeownership-new-push
Softer housing market, higher incomes help Canadians trim debts
https://www.businesstimes.com.sg/property/softer-housing-market-higher-incomes-help-canadians-trim-debts
The real problem with China’s economy
https://www.businesstimes.com.sg/opinion-features/real-problem-chinas-economy
ECB considers lifting rates to record high even as economy slows
https://www.businesstimes.com.sg/international/ecb-considers-lifting-rates-record-high-even-economy-slows
Investors scour Hong Kong hotels for student dorms, rentals
https://www.businesstimes.com.sg/property/investors-scour-hong-kong-hotels-student-dorms-rentals
Owners of Hong Kong mansions should propose ways to fix damaged government slope or risk paying ‘astronomical’ costs, government adviser warns
https://www.scmp.com/news/hong-kong/health-environment/article/3234451/owners-hong-kong-mansions-should-propose-ways-fix-damaged-government-slope-or-risk-paying
ExplainerHong Kong’s history of illegal building works: from unapproved home modifications at Redhill Peninsula to ‘underground palace’ in Kowloon, the Post unpacks latest and other cases
https://www.scmp.com/news/hong-kong/health-environment/article/3234289/hong-kongs-history-illegal-building-works-unapproved-home-modifications-redhill-peninsula
Hong Kong developer Sino Land wins Kai Tak land tender with a US$676 million bid, a nine year-low, beating a crowded field of rivals
https://www.scmp.com/business/article/3234429/hong-kong-developer-sino-land-wins-kai-tak-land-tender-676-million-bid-nine-year-low-beating-crowded
Japan’s Aug wholesale inflation slows for 8th straight month, stays above BOJ target
https://www.businesstimes.com.sg/international/japans-aug-wholesale-inflation-slows-8th-straight-month-stays-above-boj-target
‘Seeing is believing’: Country Garden’s Malaysia project in spotlight
https://www.businesstimes.com.sg/property/seeing-believing-country-gardens-malaysia-project-spotlight
Country Garden’s Forest City is at only 1% of resident target
https://www.businesstimes.com.sg/international/asean/country-gardens-forest-city-only-1-resident-target
South Korea to tighten rules on 50-year mortgage lending
https://www.businesstimes.com.sg/property/south-korea-tighten-rules-50-year-mortgage-lending
Britain’s economy shrinks at quickest pace in seven months
https://www.businesstimes.com.sg/international/britains-economy-shrinks-quickest-pace-seven-months
UK economy shrinks in July, reviving risk of recession
https://www.straitstimes.com/business/uk-economy-shrinks-in-july-reviving-risk-of-recession
UK house price gauge hits 14-year low as interest rates weigh: RICS
https://www.businesstimes.com.sg/property/uk-house-price-gauge-hits-14-year-low-interest-rates-weigh-rics
UK’s homebuilder Redrow expects profit slump in fiscal 2024 amid tough housing market
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