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).
https://www.businesstimes.com.sg/singapore/singapore-inflation-higher-january-after-gst-hike-headline-66-core-55
https://www.straitstimes.com/business/singapore-core-inflation-rises-to-55-in-january-on-cny-buying-gst-hike
https://www.channelnewsasia.com/singapore/singapore-core-inflation-january-2023-highest-november-2008-3298636
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.
https://www.businesstimes.com.sg/singapore/economists-still-expect-monetary-policy-tightening-april
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.
https://www.businesstimes.com.sg/singapore/support-unemployed-and-self-employed-draw-singaporeans-skilled-trades-say-mps
https://www.straitstimes.com/singapore/6-ways-to-help-workers-from-unemployment-support-to-anti-discrimination-penalties-parliament
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.
https://www.businesstimes.com.sg/companies-markets/apac-realty-h2-earnings-down-462-s99-million
https://www.theedgesingapore.com/capital/results/apac-realty-sees-25-decline-fy2022-earnings-266-mil
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.
https://www.businesstimes.com.sg/companies-markets/haw-par-h2-earnings-245-s711-million-improved-consumer-demand
https://www.theedgesingapore.com/capital/results/haw-par-posts-347-growth-fy2022-earnings-1483-mil
Global Economy & Real Estate
US mortgage rates climb for third straight week, reaching 6.5%
https://www.businesstimes.com.sg/property/us-mortgage-rates-climb-third-straight-week-reaching-65
US manufacturers see big boost from government subsidies and tax breaks
https://www.businesstimes.com.sg/international/us-manufacturers-see-big-boost-government-subsidies-and-tax-breaks
US weekly jobless claims fall; fourth-quarter GDP growth trimmed
https://www.businesstimes.com.sg/international/us-weekly-jobless-claims-fall-fourth-quarter-gdp-growth-trimmed
UK consumer confidence has sharpest rebound in almost two years
https://www.businesstimes.com.sg/international/uk-consumer-confidence-has-sharpest-rebound-almost-two-years
UK retail sales flat in Feb after Jan fall, outlook gloomy: CBI
https://www.businesstimes.com.sg/international/uk-retail-sales-flat-feb-after-jan-fall-outlook-gloomy-cbi
ECB posts loss as it pays price for its own rate hikes
https://www.businesstimes.com.sg/international/ecb-posts-loss-it-pays-price-its-own-rate-hikes
Eurozone core inflation at record set to embolden ECB hawks
https://www.businesstimes.com.sg/international/eurozone-core-inflation-record-set-embolden-ecb-hawks
Hotel group Accor beats on core earnings, bullish on Chinese tourists
https://www.businesstimes.com.sg/companies-markets/hotel-group-accor-beats-core-earnings-bullish-chinese-tourists
Asian tourists expected to boost Swiss tourism in 2023
https://www.channelnewsasia.com/business/asian-tourists-expected-boost-swiss-tourism-2023-3299886
Economists urge China to think ‘beyond GDP’ to head off climate risks
https://www.businesstimes.com.sg/international/economists-urge-china-think-beyond-gdp-head-climate-risks
https://www.channelnewsasia.com/sustainability/economists-urge-china-think-beyond-gdp-head-climate-risks-3298451
China to step up support to southern Hengqin and Qianhai economic zones
https://www.businesstimes.com.sg/international/china-step-support-southern-hengqin-and-qianhai-economic-zones
https://www.channelnewsasia.com/business/china-step-support-southern-hengqin-and-qianhai-economic-zones-3298976
https://www.scmp.com/business/banking-finance/article/3211310/china-unveils-30-measures-support-hengqin-qianhai-economic-zones-greater-bay-area
Families in China on path to buying homes again: survey
https://www.businesstimes.com.sg/property/families-china-path-buying-homes-again-survey
https://www.channelnewsasia.com/business/china-more-families-fence-home-buying-foreclosures-cloud-sector-3299026
China’s consumer market shows ‘strong’ recovery in January
https://www.businesstimes.com.sg/international/chinas-consumer-market-shows-strong-recovery-january
https://www.channelnewsasia.com/business/chinas-consumer-market-shows-strong-recovery-january-commerce-ministry-3299246
Hong Kong Budget’s housing fix misses the point
https://www.straitstimes.com/asia/east-asia/the-hong-kong-budget-s-housing-fix-misses-the-point
Commentary: Hong Kong property – when a penthouse is next to public housing
https://www.channelnewsasia.com/commentary/hong-kong-public-housing-property-luxury-apartment-temporary-flats-kai-tak-3298951
Hong Kong’s biggest developer Sun Hung Kai sees 36% profit drop
https://www.businesstimes.com.sg/property/hong-kongs-biggest-developer-sun-hung-kai-sees-36-profit-drop
https://www.scmp.com/business/article/3211296/profits-top-hong-kong-developers-sun-hung-kai-properties-and-new-world-hit-covid-restrictions
Taiwan to give tourists NT$2.5 billion in perks to aid economy
https://www.businesstimes.com.sg/international/taiwan-give-tourists-nt25-billion-perks-aid-economy
https://www.straitstimes.com/asia/east-asia/taiwan-will-give-tourists-perks-worth-220-each-to-boost-economy
Japan’s consumer inflation hits 41-year high, keeps BOJ under pressure
https://www.businesstimes.com.sg/international/japans-consumer-inflation-hits-41-year-high-keeps-boj-under-pressure
Nearly half of Japan firms want BOJ to revise negative rate policy: poll
https://www.businesstimes.com.sg/international/global/nearly-half-japan-firms-want-boj-revise-negative-rate-policy-poll
https://www.channelnewsasia.com/business/nearly-half-japan-firms-want-boj-revise-negative-rate-policy-reuters-poll-3301116
Malaysia to unveil bigger budget to spur economic growth, ahead of state elections
https://www.straitstimes.com/asia/se-asia/malaysia-to-unveil-bigger-budget-to-spur-economic-growth-ahead-of-state-elections
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