The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 24 Feb 2023 (Fri)

Singapore Real Estate


Singapore inflation higher in January after GST hike; headline at 6.6%, core at 5.5%
Singapore’s inflation rose across the board in January, but came in slightly under economist estimates, data from the Monetary Authority of Singapore (MAS) and Ministry of Trade and Industry (MTI) showed on Thursday (Feb 23).


Economists still expect monetary policy tightening in April
Many economists continue to expect monetary policy tightening at the Monetary Authority of Singapore’s (MAS) April meeting, after January’s inflation data – released on Thursday (Feb 23) – came in higher than in December.


Support the unemployed and self-employed, draw Singaporeans to skilled trades, say MPs
Workers were the focus of the second day of the Budget debate, as Members of Parliament suggested more support – for the unemployed, self-employed, and middle-income – or raised the need to get Singaporeans into certain trades and industries.



Companies’ Brief


Apac Realty H2 earnings down 46.2% to S$9.9 million
Real estate services provider Apac Realty : CLN +0.82% reported a 46 per cent drop in net profit for the six months ended Dec 31, 2022, the company said in a bourse filing on Thursday (Feb 23) evening.


Haw Par H2 earnings up 24.5% to S$71.1 million on improved consumer demand
Mainboard-listed Haw Par Corporation : H02 -1.26% reported a 24.5 per cent rise in net profit to S$71.1 million for the six months ended Dec 31, 2022, from S$57.1 million in the previous corresponding period.



Global Economy & Real Estate


US mortgage rates climb for third straight week, reaching 6.5%


US manufacturers see big boost from government subsidies and tax breaks


US weekly jobless claims fall; fourth-quarter GDP growth trimmed


UK consumer confidence has sharpest rebound in almost two years


UK retail sales flat in Feb after Jan fall, outlook gloomy: CBI


ECB posts loss as it pays price for its own rate hikes


Eurozone core inflation at record set to embolden ECB hawks


Hotel group Accor beats on core earnings, bullish on Chinese tourists


Asian tourists expected to boost Swiss tourism in 2023


Economists urge China to think ‘beyond GDP’ to head off climate risks


China to step up support to southern Hengqin and Qianhai economic zones


Families in China on path to buying homes again: survey


China’s consumer market shows ‘strong’ recovery in January


Hong Kong Budget’s housing fix misses the point


Commentary: Hong Kong property – when a penthouse is next to public housing


Hong Kong’s biggest developer Sun Hung Kai sees 36% profit drop


Taiwan to give tourists NT$2.5 billion in perks to aid economy


Japan’s consumer inflation hits 41-year high, keeps BOJ under pressure


Nearly half of Japan firms want BOJ to revise negative rate policy: poll


Malaysia to unveil bigger budget to spur economic growth, ahead of state elections



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