Singapore Economy/News
Govt will help S’poreans cope with cost pressures for as long as needed: PM Wong
Singapore – Every bit of support to address the cost of living counts, and the Government will keep doing what is necessary to help Singaporeans for as long as needed, said Prime Minister Lawrence Wong on March 3.
https://www.zaobao.com.sg/news/singapore/story20250303-5959481
Singapore needs to be realistic but not pessimistic in new world order: Vivian Balakrishnan
Even in a more dangerous and divided world, Singapore need not be pessimistic given its strong position, Minister for Foreign Affairs Vivian Balakrishnan said in Parliament on Monday (Mar 3). He named three pillars of the Republic’s robustness: economic strength; independence and ability to defend itself; and domestic cohesion.
https://www.zaobao.com.sg/news/singapore/story20250304-5960031
Singapore’s PMI dips in February amid improving regionwide factory activity
Singapore’s overall factory activity dipped in February, even as manufacturing sentiment across the region improved. The Purchasing Managers’ Index (PMI) dipped slightly to 50.7 in February, a 0.2 point decline from the previous month, indicated data from the Singapore Institute of Purchasing and Materials Management (SIPMM) released on Monday (Mar 3).
Government review finds no wilful wrongdoing in Acra’s NRIC disclosure, but identifies six ‘shortcomings’
A government review has found no “deliberate wrongdoing” or “wilful inaction” behind the disclosure of full NRIC numbers on the Accounting and Corporate Regulatory Authority’s (Acra) Bizfile portal on Dec 9 last year.
https://www.zaobao.com.sg/news/singapore/story20250304-5958547
Business News
Citigroup copy-paste error almost sent US$6 billion to wealth account
Citigroup almost shifted about US$6 billion to a customer’s account by accident after a staffer handling the transfer copied and pasted the account number into a field for the US dollar figure.
Keppel Core Infrastructure Fund acquires 39% stake in the Keppel Merlimau Cogen Plant
Keppel’s flagship open-ended infrastructure fund, Keppel Core Infrastructure Fund (KCIF), has acquired a 39 per cent stake in the Keppel Merlimau Cogen Plant (KMC) from the asset manager. As the fund’s first asset, this will allow KCIF to “anchor its portfolio with an established asset and stable cash flows” as it expands, said Keppel in a statement on Monday (Mar 3).
Minority shareholders request UOI to distribute Haw Par shares, unlock shareholder value
Some minority shareholders of United Overseas Insurance (UOI) have proposed two resolutions to be tabled at the insurance provider’s upcoming annual general meeting (AGM), in a bid to further unlock shareholder value.
Global Economy & Real Estate
Trump says Canada, Mexico tariffs to take effect on Tuesday; stocks tumble
US pauses military aid to Ukraine, says White House
https://www.channelnewsasia.com/world/us-pauses-military-aid-ukraine-trump-zelenskyy-4974371
US manufacturing stable, price pressures surge ahead of tariffs storm
Australia central bank saw risk of holding tight for too long when cutting rates
Australia’s January retail sales post small gain on food-related spending
Australian pension funds with A$520 billion AUM keen to deploy to real estate
China factory activity picks up but trade uncertainties weigh
Hong Kong’s Paul Chan on geopolitics and budget for future: ‘we need to grow’
Western countries would envy Hong Kong’s financial position, experts say
Hong Kong January retail sales value falls 3.2%
https://www.channelnewsasia.com/business/hong-kong-january-retail-sales-value-falls-32-4972761
Hong Kong developers to sell more flats as buyers return amid tax relief, stock rally
Hong Kong property: Winland’s 5 asset sales show more distress in store
Hong Kong developer New World plans to launch ‘Front Tower’ office building in Hangzhou
New Zealand exports outpace imports in positive sign for economy
South Korea factory activity shrinks as demand concerns weigh: PMI
UK prices to rise as retailers pass on higher employment costs: BRC
Bank of England may need to pause rate cuts, ex-policymakers warn
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