Singapore Economy / GE 2025
US not ready to lower tariff on imports from Singapore, but agrees to explore way forward: DPM Gan
The United States is not prepared to lower its 10 per cent tariff on imports from Singapore, but both countries agreed to explore deepening their economic links positively and continue to discuss the practical way forward.
https://www.zaobao.com.sg/realtime/singapore/story20250426-6247898
IMF cuts Singapore’s GDP growth forecast for 2025 on tariff shock
The International Monetary Fund (IMF) has cut its gross domestic product growth forecast for Singapore this year, citing the region’s exposure to the US tariff hit and uncertainty from the fallout.
https://www.businesstimes.com.sg/singapore/imf-cuts-singapores-gdp-growth-forecast-2025-tariff-shock
Potential slight downgrade in Q1 GDP growth after March factory output expansion misses: economists
Private-sector economists are watching for a potential downward revision to Q1 2025 gross domestic product growth from the advance estimate, after manufacturing output underperformed in the quarter.
https://www.zaobao.com.sg/realtime/singapore/story20250425-6242749
Minister for Finance appoints new Iras board chairman Lai Chung Han
Lai Chung Han, 52, incoming permanent secretary for finance, has been appointed chairman of the board of the Inland Revenue Authority of Singapore (Iras), effective May 1. He succeeds Tan Ching Yee, 60, who has served as chairman since 2016, the Ministry of Finance said in a statement on Friday (Apr 25).
https://www.straitstimes.com/singapore/iras-board-to-welcome-new-chairman-on-may-1
https://www.channelnewsasia.com/singapore/iras-new-chairman-lai-chung-han-tan-ching-yee-5088891
https://www.zaobao.com.sg/realtime/singapore/story20250425-6243856
GE2025: Fullerton rally among 6 election rallies to be held on Apr 28
Six election rallies will be happening on Monday (Apr 28), as political parties enter the last week of hustings before the General Election on May 3. A Fullerton rally will take place from noon to 3 pm, while the rest of the events are scheduled in the heartland from 7 pm to 10 pm.
https://www.straitstimes.com/singapore/ge2025-six-election-rallies-to-be-held-on-april-28
https://www.channelnewsasia.com/singapore/ge2025-campaigning-day-6-general-election-5090641
Business News
CapitaLand Investment looks to expand in US, Europe while navigating market uncertainty
CapitaLand Investment (CLI) seeks to grow its presence in the United States and Europe which are mature markets with deep pools of capital.
CapitaLand Investment’s launch of new C-Reit comes as it takes long-term view of China business
CapitaLand Investment (CLI) holds a long-term view of its business in China where it has built a strong foundation as part of the CapitaLand Group for over 30 years, said CLI’s group chief executive officer Lee Chee Koon.
Hongkong Land to sell 147,025 sq ft of One Exchange to HKEX, launch share buyback programme
Asian property developer Hongkong Land will sell 147,025 square feet (sq ft) of One Exchange Square to Hong Kong’s stock exchange operator for HK$6.3 billion (S$1.1 billion), and launch a share buyback programme.
DBS downgrades Keppel Infrastructure Trust to ‘hold’, keeps Mapletree Logistics Trust at ‘buy’
Analysts from DBS Group Research are mixed on some real estate investment trusts (Reits) this earnings season: They have kept their “buy” rating on logistics-focused Mapletree Logistics Trust (MLT), but have downgraded Keppel Infrastructure Trust (KIT) to “hold”.
Global Economy / Real Estate News
Developing countries should fast-track US trade deals: World Bank president
Trump floats new income tax cut in bid to ease tariffs’ bite
Asia gains lead in race for interim deals to avoid Trump tariffs
China March industrial profits rise, defying trade tensions
China widens tax rebates for foreign tourists to boost spending
China waives tariffs on some US goods, but denies Trump’s claim that talks are underway
ECB prepares for June cut as economy hurt even if trade is fixed
Hong Kong economy to post solid growth for first quarter: Paul Chan
US tariff war ‘will not kill Hong Kong’, Trade Development Council says
Hong Kong retail rents have further to fall amid consumer spending dip
Hong Kong’s largest flex-office provider seeks deals with vacant-office landlords
SHKP’s Sierra Sea flats sell out as investors boost mood in Hong Kong’s real estate market
Bank of Japan to hit pause on rate-hike path as economic risks mount
Yen, BOJ’s rate policy may remain focus in Japan-US trade talks
London gets a taste of New York’s cut-throat real estate culture
https://www.businesstimes.com.sg/property/london-gets-taste-new-yorks-cut-throat-real-estate-culture
Malaysia-US trade talks started ‘well enough,’ official says
Malaysia open to negotiate with US on reducing trade deficit, non-tariff barriers
South-east Asia’s economic powerhouses seek talks with US to defuse tariff tensions
Thailand woos rich European tourists as Chinese arrivals slump
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