Singapore News
Replacing NRIC number as authentication tool may take months: Experts
Singapore’s digital ecosystem will become more secure when NRIC numbers are no longer used to authenticate users, but to put in the infrastructure for stronger authentication tools could take several months to a year or more, said cyber-security experts.
https://www.straitstimes.com/singapore/replacing-nric-with-new-authentication-methods-could-take-months-public-should-take-care-against
SNEF calls for more financial aid, extended wage credit schemes in Budget 2025 wish list
The Singapore National Employers Federation (SNEF) has called for the government to provide continued financial relief for businesses and to extend existing wage credit schemes in its Budget 2025 wish list.
https://www.businesstimes.com.sg/singapore/snef-calls-more-financial-aid-extended-wage-credit-schemes-budget-2025-wish-list
https://www.straitstimes.com/business/snef-calls-for-more-financial-aid-extended-wage-credit-schemes-in-budget-2025-wish-list
Business News
CapitaLand Ascendas Reit to acquire, lease back DHL’s Indiana logistics property in $150.3m deal
CapitaLand Ascendas Reit (Clar) is proposing to acquire logistics property DHL Indianapolis Logistics Centre in Whiteland, Indianapolis, Indiana, for $150.3 million from DHL USA.
https://www.straitstimes.com/business/companies-markets/clar-to-acquire-and-lease-back-dhls-indiana-logistics-property-in-150-3-million-deal
DBS forecasts strong growth for suburban retail Reits in 2025, names its top picks
Singapore’s suburban real estate investment trusts (Reits) are poised for growth next year, although there is a temporary risk in the form of retail business flowing to Johor Bahru (JB) by way of the Rapid Transit System (RTS) connecting the two cities, said DBS.
https://www.businesstimes.com.sg/companies-markets/dbs-forecasts-strong-growth-suburban-retail-reits-2025-names-its-top-picks
JustCo eyes expanding to 6 new markets in Asia, Middle East over next 2 to 3 years
JustCo is aiming to double the number of markets it operates in over the next two to three years, as the co-working operator grows its presence in the region.
https://www.businesstimes.com.sg/international/global/justco-eyes-expanding-6-new-markets-asia-middle-east-over-next-2-3-years
Keppel DC Reit’s newly issued preferential offering units to start trading on SGX at 9 am
Keppel DC Reit’s manager announced that it has issued 148.4 million new preferential offering units at S$2.03 apiece which will begin trading on the mainboard of the Singapore Exchange (SGX) at 9 am on Wednesday (Dec 18).
https://www.businesstimes.com.sg/companies-markets/keppel-dc-reits-newly-issued-preferential-offering-units-start-trading-sgx-9-am
Mapletree Industries acquires land in New Jersey, USA to develop advanced logistics facilities
Mapletree Investments has acquired a 22.5-acre site along Burlington-Mount Holly Road in Westampton Township, New Jersey, USA, which it plans to develop into a 250,000 square foot state-of-the-art logistics facility.
https://www.zaobao.com.sg/realtime/singapore/story20241217-5610352
https://www.theedgesingapore.com/news/property/mapletree-acquires-site-logistics-development-near-new-jersey-turnpike
Singapore’s digital banks say they serve a niche, need time to turn profits
Digital banks have been up and running for about two years here but turning a profit remains as elusive as ever. The three banks serving retail customers, GXS Bank, MariBank and Trust Bank, reported an increase in total income in 2023 – the latest numbers available as they report only full-year results – but fell deeper into the red.
https://www.straitstimes.com/business/singapores-digital-banks-say-they-serve-a-niche-need-time-to-turn-profits
Global Economy & Real Estate
Dollar steady against peers as Fed rate cut looms
https://www.channelnewsasia.com/business/dollar-steady-against-peers-fed-rate-cut-looms-4813131
US manufacturing output rebounds less than expected in November
https://www.businesstimes.com.sg/international/us-manufacturing-output-rebounds-less-expected-november
https://www.straitstimes.com/business/economy/us-manufacturing-output-rebounds-less-than-expected-in-november
US retail sales beat expectations in November
https://www.businesstimes.com.sg/international/us-retail-sales-beat-expectations-november
https://www.straitstimes.com/business/economy/us-retail-sales-showcase-economys-enduring-strength
Australia’s government spends its way to bigger budget deficits
https://www.straitstimes.com/world/australias-government-spends-its-way-to-bigger-budget-deficits
Australia’s discretionary retailers face brighter 2025 as rate cut nears
https://www.businesstimes.com.sg/international/australias-discretionary-retailers-face-brighter-2025-rate-cut-nears
China plans record budget deficit, around 5% growth goal in 2025: Sources
https://www.straitstimes.com/business/economy/china-plans-record-budget-deficit-around-5-growth-goal-in-2025-sources
Policy support sees China’s tax revenue rise for second straight month
https://www.scmp.com/economy/china-economy/article/3291211/policy-support-sees-chinas-tax-revenue-rise-second-straight-month
China may keep trying to spur consumption without big stimulus
https://www.straitstimes.com/business/economy/china-may-keep-trying-to-spur-consumption-without-big-stimulus
Iconic Beijing mall put up for sale by real estate firm Parkview: sources
https://www.businesstimes.com.sg/property/iconic-beijing-mall-put-sale-real-estate-firm-parkview-sources
German business sentiment tumbles in December amid ‘chronic’ weakness
https://www.businesstimes.com.sg/international/german-business-sentiment-tumbles-december-amid-chronic-weakness
Hong Kong’s Sept-Nov unemployment holds steady at 3.1%
https://www.channelnewsasia.com/business/hong-kongs-sept-nov-unemployment-holds-steady-31-4811431
Should Hong Kong arts hub tap luxury flats or ‘sell quickly’ to boost coffers?
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3291278/should-hong-kong-arts-hub-tap-luxury-flats-or-sell-quickly-boost-coffers
New World loses more market value as developer strives to contain debt crisis
https://www.scmp.com/business/article/3291231/new-world-loses-more-market-value-developer-strives-contain-debt-crisis
Hopewell, top landlord in Wan Chai, ventures into hotel in bet on tourism, conference demand
https://www.scmp.com/business/article/3291241/hopewell-top-landlord-wan-chai-ventures-hotel-bet-tourism-conference-demand
Indonesia announces economic policy package to ease VAT hike impact
https://www.channelnewsasia.com/asia/indonesia-economy-vat-increase-economic-package-sri-mulyani-airlangga-hartarto-sri-mulyani-4808781
Japan’s exports expand faster than expected in November
https://www.businesstimes.com.sg/international/global/japans-exports-expand-faster-expected-november
Real estate leaders sue to stop New York City’s overhaul of broker fees
https://www.businesstimes.com.sg/property/real-estate-leaders-sue-stop-new-york-citys-overhaul-broker-fees
Philippine central bank to cut rates by 25 bps on Dec 19, three more times in 2025: Reuters poll
https://www.channelnewsasia.com/business/philippine-central-bank-cut-rates-25-bps-dec-19-three-more-times-2025-reuters-poll-4810856
UK employers hold pay deals at 4% before expected fall in 2025: survey
https://www.businesstimes.com.sg/international/uk-employers-hold-pay-deals-4-expected-fall-2025-survey
First UK wage growth pickup in a year dampens rate-cut bets
https://www.businesstimes.com.sg/international/first-uk-wage-growth-pickup-year-dampens-rate-cut-bets
One in 5 properties in England now at risk of flooding
https://www.businesstimes.com.sg/property/one-5-properties-england-now-risk-flooding
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