Singapore Real Estate / Built Environment
Haidilao founder, Ray Dalio, Forrest Li’s wife among ultra-rich splurging on 8-figure Singapore properties
Singapore’s top-end real estate is becoming a must-have for billionaires and multi-millionaires seeking a safe haven amid a tanking US dollar and dark clouds over global markets.
Small businesses group calls for retail lease reforms amid soaring rent
The Singapore Tenants United for Fairness, which represents more than 700 business owners, businesses, is calling for retail lease reforms, such as rental caps and limits on foreign-owned shops. It is already in talks with Enterprise Singapore and hopes to reach some agreement in the coming months.
Don’t blame high rents for F&B business closures
Singapore prides itself as a food haven. Residents and visitors love wining and dining at the wide range of food and beverage outlets here. However, the local F&B scene is reeling from a spate of closures of F&B outlets. Might Singapore’s status as a top food destination be undermined by the high failure rate in this sector?
https://www.businesstimes.com.sg/opinion-features/dont-blame-high-rents-fb-business-closures
Global Economy / Real Estate News
US manufacturing remains subdued in May; delivery times lengthening
Federal Reserve still open to cutting interest rates later this year, says governor
Australia central bank pondered outsized rate cut in May, decided to be predictable
Australia raises minimum wages by 3.5% as inflation eases
https://www.businesstimes.com.sg/international/australia-raises-minimum-wages-3-5-inflation-eases
Trade war hits Asia factories as exports, production slide
https://www.channelnewsasia.com/business/asias-factory-activity-shrinks-may-us-tariffs-bite-5162311
BlackRock plans private-market hires to win over rich Europeans
China’s factory activity cools in May as US tariffs hit
https://www.channelnewsasia.com/business/chinas-factory-activity-cools-may-us-tariffs-hit-5163556
Eurozone factory downturn eases in May: survey
https://www.businesstimes.com.sg/international/eurozone-factory-downturn-eases-may-survey
ECB expected to cut rates again as Trump trade war rumbles on
Hong Kong to stick with 2% to 3% growth goal despite strong first quarter: Chan
Amro cuts Hong Kong’s 2025 growth outlook on trade uncertainty
https://www.zaobao.com.sg/realtime/china/story20250602-6538373
Hong Kong property firm New World’s securities tumble after coupon payments deferred
PwC troubles in China deepen with exit of Hong Kong partners
Indonesia trade surplus shrinks as global tariff fears boost imports from China
Indonesia issues Covid-19 warning over surge in cases in Asia
Japan raises foreign direct investment target to 150 trillion yen by mid-2030s
Japan’s firms raised capital spending ahead of US tariffs
https://www.businesstimes.com.sg/international/japans-firms-raised-capital-spending-ahead-us-tariffs
Microsoft cuts hundreds more jobs after firing 6,000 last month
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