Singapore Economy
Rise in long-term unemployment to 0.7% in September ‘bears close monitoring’: MOM
Job vacancies in Singapore fell in September, while third-quarter retrenchments rose as a sign of cooling labour demand in the Republic, the Ministry of Manpower’s (MOM) latest labour market report showed on Thursday (Dec 14).
https://www.businesstimes.com.sg/singapore/rise-long-term-unemployment-07-september-bears-close-monitoring-mom
https://www.straitstimes.com/singapore/jobs/signs-of-cooling-labour-demand-persist-even-as-s-poreans-prs-notch-employment-growth
https://www.channelnewsasia.com/singapore/retrenchment-rises-labour-demand-cools-third-quarter-manpower-jobs-market-report-3988776
SNEF proposes Budget 2024 to boost current support schemes, introduce corporate grants for AI adoption
Singapore’s Budget 2024 should provide specific grants to drive corporate adoption of artificial intelligence (AI), helping businesses boost productivity, said the Singapore National Employers Federation (SNEF) on Thursday (Dec 14).
https://www.businesstimes.com.sg/singapore/snef-proposes-budget-2024-boost-current-support-schemes-introduce-corporate-grants-ai
https://www.straitstimes.com/business/snef-s-budget-wish-list-more-financial-aid-for-older-workers-cpf-hike-ai-training-and-adoption
Global Economy & Real Estate
Not enough affordable housing around the world
https://www.businesstimes.com.sg/property/not-enough-affordable-housing-around-world
ECB and BOE are reluctant to join US Fed in pivoting towards rate cuts
https://www.businesstimes.com.sg/international/ecb-and-boe-are-reluctant-join-us-fed-pivoting-towards-rate-cuts
https://www.straitstimes.com/business/economy/major-central-banks-hold-rates-steady-as-markets-eye-rapid-cuts
US Congress passes huge US$886 billion defence budget for 2024
https://www.businesstimes.com.sg/international/us-congress-passes-huge-us886-billion-defence-budget-2024
https://www.channelnewsasia.com/world/congress-passes-us886-billion-defence-policy-bill-biden-sign-law-3990356
https://www.scmp.com/news/world/united-states-canada/article/3245115/us-congress-passes-mammoth-us886-billion-defence-bill-now-headed-joe-biden
US retail sales unexpectedly rebound in November; weekly jobless claims fall
https://www.businesstimes.com.sg/international/us-retail-sales-unexpectedly-rebound-november-weekly-jobless-claims-fall
US import prices post second straight monthly decline in November
https://www.businesstimes.com.sg/international/us-import-prices-post-second-straight-monthly-decline-november
Australia employment surges in November, jobless rate hit 1-1/2 year high
https://www.businesstimes.com.sg/international/australia-employment-surges-november-jobless-rate-hit-1-12-year-high
Canadian home prices fall most in 14 months amid rate squeeze
https://www.businesstimes.com.sg/property/canadian-home-prices-fall-most-14-months-amid-rate-squeeze
China’s central bank set to boost liquidity injection but keep key rate unchanged
https://www.channelnewsasia.com/business/chinas-central-bank-set-boost-liquidity-injection-keep-key-rate-unchanged-3988816
China extends homebuying easing to Beijing and Shanghai
https://www.businesstimes.com.sg/property/china-extends-homebuying-easing-beijing-and-shanghai
https://www.straitstimes.com/business/property/china-extends-homebuying-easing-to-beijing-and-shanghai
https://www.channelnewsasia.com/business/beijing-shanghai-loosen-home-buying-restrictions-aid-housing-market-3989116
https://www.scmp.com/business/banking-finance/article/3245104/beijing-and-shanghai-cut-down-payment-ratios-part-stimulus-aimed-reviving-housing-markets
Once-hot China Reits get slammed as property slump dents demand
https://www.businesstimes.com.sg/international/global/once-hot-china-reits-get-slammed-property-slump-dents-demand
https://www.straitstimes.com/business/once-hot-china-reits-get-slammed-as-property-slump-dents-demand
China wants to build ‘first-class’ investment banks – but isn’t telling the industry how
https://www.scmp.com/economy/china-economy/article/3245069/china-wants-build-first-class-investment-banks-isnt-telling-industry-how
ECB pushes back against rate cut bets with pledge to stay tight
https://www.businesstimes.com.sg/international/ecb-pushes-back-against-rate-cut-bets-pledge-stay-tight
Hong Kong corporate governance tumbles to decades low
https://www.businesstimes.com.sg/international/global/hong-kong-corporate-governance-tumbles-decades-low
Sino Land-led consortium snaps up Ma Tau Wai site despite worries about Hong Kong’s sluggish economy and weak property market
https://www.scmp.com/business/companies/article/3245108/sino-land-led-consortium-snaps-ma-tau-wai-site-despite-worries-about-hong-kongs-sluggish-economy-and
Japan to use more tax incentives to encourage wage increases
https://www.businesstimes.com.sg/international/japan-use-more-tax-incentives-encourage-wage-increases
Japan’s factory activity extends declines as pressures persist- PMI
https://www.channelnewsasia.com/business/japans-factory-activity-extends-declines-pressures-persist-pmi-3990746
https://www.businesstimes.com.sg/international/japans-factory-activity-extends-declines-pressures-persist-pmi
Bank of Korea governor says urgent to introduce central bank digital currency
https://www.channelnewsasia.com/business/bank-korea-governor-says-urgent-introduce-central-bank-digital-currency-3990711
Manhattan apartment rents see first year-over-year drop since 2021
https://www.businesstimes.com.sg/property/manhattan-apartment-rents-see-first-year-over-year-drop-2021
Swiss National Bank keeps interest rate at 1.75% as expected
https://www.businesstimes.com.sg/international/swiss-national-bank-keeps-interest-rate-175-expected
Taiwan central bank cuts GDP outlook, stands pat on rates
https://www.businesstimes.com.sg/international/taiwan-central-bank-cuts-gdp-outlook-stands-pat-rates
Bank of England says rates to stay high for ‘extended period’
https://www.businesstimes.com.sg/international/bank-england-says-rates-stay-high-extended-period
UK consumers turn a little more optimistic in December: GfK
https://www.businesstimes.com.sg/international/uk-consumers-turn-little-more-optimistic-december-gfk
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