Singapore Economy
Singapore key exports down 1.5% in December, reversing from previous month’s growth
Singapore’s non-oil domestic exports (NODX) shrank 1.5 per cent year on year in December, following a continued decline in electronics exports, data from Enterprise Singapore (EnterpriseSG) showed on Wednesday (Jan 17).
https://www.businesstimes.com.sg/singapore/singapore-key-exports-down-15-december-reversing-previous-months-growth
Singapore seeks views on governance framework for generative AI
The Singapore government on Tuesday (Jan 16) launched a public consultation on a proposed framework to govern generative artificial intelligence (AI).
https://www.businesstimes.com.sg/singapore/singapore-seeks-views-governance-framework-generative-ai
https://www.channelnewsasia.com/singapore/generative-ai-artificial-intelligence-proposal-framework-4051526
https://www.todayonline.com/singapore/singapore-proposes-generative-ai-framework-2343646
Companies’ Brief
Amara Holdings privatisation offer fails to reach compulsory acquisition threshold
The voluntary cash offer for Amara Holdings : A34 +0.83% closed on Tuesday (Jan 16), with offeror Amethyst Assets garnering 88.39 per cent in shareholding interest. This fell short of the 90 per cent threshold for acceptances, which would have allowed the offeror to exercise its right of compulsory acquisition over the hotel group.
https://www.businesstimes.com.sg/companies-markets/amara-holdings-privatisation-offer-fails-reach-compulsory-acquisition-threshold
Programme to close food waste loop to be rolled out at five Frasers Property Singapore malls
The programme at the five malls is expected to reduce up to 2,200 tonnes of food waste and save up to 660 tonnes of carbon dioxide emissions a year. This builds upon a successful food waste upcycling pilot scheme at Causeway Point that started in January 2023 and involved food and beverage outlets including Bali Thai, Food Republic and Ichiban Boshi, as well as FairPrice Finest supermarket.
https://www.straitstimes.com/singapore/programme-to-close-food-waste-loop-to-be-rolled-out-at-five-frasers-property-singapore-malls
https://www.edgeprop.sg/property-news/frasers-property-set-reduce-2200-tonnes-food-waste-annually-across-five-malls
GIC seeks to sell Hilton hotel in Japan for over 85 billion yen
Singapore sovereign wealth fund GIC is considering selling a 1,053-room hotel in western Japan, and has been marketing the property to potential investors since late last year, according to sources familiar with the matter.
https://www.businesstimes.com.sg/property/gic-seeks-sell-hilton-hotel-japan-over-85-billion-yen
https://www.straitstimes.com/business/gic-seeks-to-sell-hilton-hotel-in-japan-for-over-778-million
Global Economy & Real Estate
IMF’s Georgieva sees global growth aided by 2023 tailwinds
https://www.businesstimes.com.sg/international/imfs-georgieva-sees-global-growth-aided-2023-tailwinds
Global supply chain disrupted; ships taking the long way round
https://www.businesstimes.com.sg/international/global-supply-chain-disrupted-ships-taking-long-way-round
More Asia property investors want to sell even as rate hikes end: survey
https://www.businesstimes.com.sg/international/global/more-asia-property-investors-want-sell-even-rate-hikes-end-survey
China’s Xi stresses high-quality development of financial sector
https://www.businesstimes.com.sg/international/chinas-xi-stresses-high-quality-development-financial-sector
https://www.scmp.com/economy/china-economy/article/3248669/chinas-xi-jinping-lays-out-road-map-becoming-financial-superpower-warns-risk-can-throw-efforts-track
China GDP grew around 5.2% in 2023, Premier Li says at Davos
https://www.businesstimes.com.sg/international/global/china-gdp-grew-around-52-2023-premier-li-says-davos
https://www.straitstimes.com/business/economy/china-gdp-grew-around-52-in-2023-premier-li-qiang-says-at-davos
https://www.channelnewsasia.com/business/marketmind-countdown-china-gdp-4052986
https://www.theedgesingapore.com/news/china-focus/chinas-gdp-grew-around-52-2023-premier-li-says-davos
China’s Q4 GDP to show patchy economic recovery, many challenges ahead
https://www.channelnewsasia.com/business/chinas-q4-gdp-show-patchy-economic-recovery-many-challenges-ahead-4053026
https://www.businesstimes.com.sg/international/global/chinas-q4-gdp-show-patchy-economic-recovery-many-challenges-ahead
Country Garden expects China property market to remain weak in 2024
https://www.businesstimes.com.sg/property/country-garden-expects-china-property-market-remain-weak-2024
https://www.channelnewsasia.com/business/country-garden-expects-china-property-market-remain-weak-2024-4050591
Dubai property prices could rise 5-10% this year
https://www.businesstimes.com.sg/property/dubai-property-prices-could-rise-5-10-year
Eurozone consumers slash inflation expectations: ECB survey
https://www.businesstimes.com.sg/international/eurozone-consumers-slash-inflation-expectations-ecb-survey
Counterfeits cost Europe 16 billion euros each year
https://www.businesstimes.com.sg/international/counterfeits-cost-europe-16-billion-euros-each-year
German investor outlook unexpectedly improves for sixth month
https://www.businesstimes.com.sg/international/german-investor-outlook-unexpectedly-improves-sixth-month
Hong Kong’s property bears top 17 global markets in pessimism, spooked by higher rates, tepid growth and weak demand, CBRE survey shows
https://www.scmp.com/business/article/3248562/hong-kongs-property-bears-top-17-global-markets-pessimism-spooked-higher-rates-tepid-growth-and-weak
‘If it looks strange, it sparks discussion’: why new Hong Kong skyscraper The Henderson, in Central, was designed by Zaha Hadid Architects to appear ‘soft’
https://www.scmp.com/lifestyle/arts-culture/article/3248516/if-it-looks-strange-it-sparks-discussion-why-new-hong-kong-skyscraper-henderson-central-was-designed
Catching out errant public housing tenants may help Hong Kong firms secure property management contracts: official
https://www.scmp.com/news/hong-kong/society/article/3248683/catching-out-errant-public-housing-tenants-may-help-hong-kong-companies-secure-property-management
Japan’s input inflation flatlines for weakest result since 2021
https://www.businesstimes.com.sg/international/japans-input-inflation-flatlines-weakest-result-2021
Japan manufacturers less confident as dark clouds hang over China, global growth
https://www.straitstimes.com/business/japan-manufacturers-less-confident-as-dark-clouds-hang-over-china-global-growth
https://www.channelnewsasia.com/business/japan-manufacturers-less-confident-dark-clouds-hang-over-china-global-growth-4053071
Malaysia exempts capital gains tax, foreign-sourced income taxes on unit trusts
https://www.businesstimes.com.sg/international/asean/malaysia-exempts-capital-gains-tax-foreign-sourced-income-taxes-unit-trusts
New York City single-family home values forecast to drop, led by Manhattan
https://www.businesstimes.com.sg/property/new-york-city-single-family-home-values-forecast-drop-led-manhattan
Blackstone’s defaulted New York City office loan for sale at 50% discount
https://www.businesstimes.com.sg/property/blackstones-defaulted-new-york-city-office-loan-sale-50-discount
New Zealand firms more upbeat as signs inflation could ease
https://www.straitstimes.com/business/economy/new-zealand-firms-more-upbeat-as-signs-inflation-could-ease
New Zealand house prices rise for third month
https://www.businesstimes.com.sg/property/new-zealand-house-prices-rise-third-month
UK wage gains cool at near record pace, easing price pressures
https://www.businesstimes.com.sg/international/uk-wage-gains-cool-near-record-pace-easing-price-pressures
UK-wide study reveals harm done by people not getting Covid-19 jabs
https://www.businesstimes.com.sg/international/uk-wide-study-reveals-harm-done-people-not-getting-covid-19-jabs
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