Singapore Economy
S’pore reclaims top spot in world competitiveness ranking after three years
Singapore – After being adrift for the past three years, Singapore climbed three rungs and regained the top spot in the IMD World Competitiveness Ranking in 2024 against a field of 67.
https://www.straitstimes.com/business/s-pore-reclaims-top-spot-in-world-competitiveness-ranking-after-three-years
Singapore’s key exports dip 0.1% in May, mildest decline in 20 months
Singapore – The slump in Singapore’s key exports may have ended, economists said, after data for May came in better than expected, with the recovery being driven by tech demand related to artificial intelligence (AI).
https://www.straitstimes.com/business/singapore-key-exports-dip-01-in-may-mildest-decline-in-20-months
https://www.channelnewsasia.com/singapore/nodx-singapore-key-exports-decline-may-2024-4417546
Singapore’s recycling rate falls to 52% in 2023, decline from 10 years ago
Singapore: The overall recycling rate in Singapore has declined from 62 per cent to 52 per cent over the last decade, according to the National Environment Agency’s (NEA) latest statistics on waste and recycling.
https://www.channelnewsasia.com/singapore/recycling-rate-domestic-waste-statistics-2023-nea-4418776
Revised registers of electors open for public inspection from Jun 19
Singapore: Singapore’s revised registers of electors will be open for public inspection from Jun 19 to Jul 2, the Elections Department (ELD) said on Tuesday (Jun 18).
https://www.channelnewsasia.com/singapore/ge-eld-voter-rolls-elections-department-revised-registers-electors-public-inspection-jun-19-4418101
Business News
CapitaLand Investment adopts cooling-as-a-service at flagship Singapore properties
CapitaLand Investment (CLI) will adopt cooling-as-a-service (Caas) systems in Raffles City Singapore, Plaza Singapura and The Atrium@Orchard, the global real asset manager announced on Tuesday (Jun 18).
https://www.businesstimes.com.sg/companies-markets/capitaland-investment-adopts-cooling-service-flagship-singapore-properties
SingHaiyi-led group to launch Jurong East condo Sora at S$2,180 psf average
A SingHaiyi-Led joint venture will start previews for its new Jurong project, Sora, on Jun 22, with prices pitched at S$2,180 per square foot (psf) on average.
https://www.businesstimes.com.sg/property/singhaiyi-led-group-launch-jurong-east-condo-sora-s2180-psf-average
Sabana Reit prices S$100 million in sustainability-linked bonds due 2029 at 4.15%
SABANA Real Estate Investment Trust : M1GU +1.45% (Sabana Reit) has priced S$100 million of sustainability-linked bonds due 2029, said the manager in a bourse filing on Tuesday (Jun 18)
https://www.businesstimes.com.sg/companies-markets/sabana-reit-prices-s100-million-sustainability-linked-bonds-due-2029-4-15
Global Economy & Real Estate
Oil settles over 1% higher on mounting tension in Europe, Middle East
https://www.businesstimes.com.sg/companies-markets/energy-commodities/oil-settles-over-1-higher-mounting-tension-europe-middle-east
Gold prices edge higher as US Treasury yields soften
https://www.businesstimes.com.sg/companies-markets/energy-commodities/gold-prices-edge-higher-us-treasury-yields-soften
More central banks to increase gold reserves within 12 months
https://www.businesstimes.com.sg/companies-markets/energy-commodities/more-central-banks-increase-gold-reserves-within-12-months
Fed officials steer cautiously as they await data confirming inflation slowdown
https://www.businesstimes.com.sg/international/fed-officials-steer-cautiously-they-await-data-confirming-inflation-slowdown
US retail sales rise less than expected in May
https://www.businesstimes.com.sg/international/us-retail-sales-rise-less-expected-may
Goldman sees US jobs at inflection point, sticks to two interest rate cuts
https://www.businesstimes.com.sg/international/goldman-sees-us-jobs-inflection-point-sticks-two-interest-rate-cuts
New York City hikes prices 2.75% for rent-stabilised apartments
https://www.businesstimes.com.sg/property/new-york-city-hikes-prices-2-75-rent-stabilised-apartments
Australia holds key rate at 12-year high on inflation worries
https://www.businesstimes.com.sg/international/australia-holds-key-rate-12-year-high-inflation-worries
China’s trade-in for homes scheme misses mark as middle class prefers to save, not spend
https://www.scmp.com/economy/china-economy/article/3266424/chinas-trade-homes-scheme-misses-mark-middle-class-prefers-save-not-spend?module=top_story&pgtype=section
China’s property measures give sales a boost, but only in big cities
https://www.businesstimes.com.sg/property/chinas-property-measures-give-sales-boost-only-big-cities
China’s property crisis sees homeowners scramble to pay off mortgages at record pace
https://www.scmp.com/economy/economic-indicators/article/3267105/chinas-property-crisis-sees-homeowners-scramble-pay-mortgages-record-pace
Commercial properties are fast becoming stranded across Europe
https://www.businesstimes.com.sg/property/commercial-properties-are-fast-becoming-stranded-across-europe
German home building permits nosedive in April as slump continues
https://www.businesstimes.com.sg/property/german-home-building-permits-nosedive-april-slump-continues
Hong Kong’s mid-market property segment abuzz with deal-making: CBRE
https://www.scmp.com/business/article/3267088/hong-kongs-mid-market-property-segment-abuzz-deal-making-cbre
Bank of Japan may raise rates in July depending on data, says Governor Ueda
https://www.businesstimes.com.sg/companies-markets/banking-finance/bank-japan-may-raise-rates-july-depending-data-says-governor-ueda
Japan’s exports grow most since 2022 on boost from weak yen
https://www.businesstimes.com.sg/international/japans-exports-grow-most-2022-boost-weak-yen
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