Singapore Economy
Singapore, India upgrading ties to comprehensive strategic partnership during Modi’s visit
Singapore and India are upgrading their ties to a comprehensive strategic partnership as both countries look to boost trade and investment while deepening cooperation in a wide range of areas, including semiconductors and defence.
https://www.businesstimes.com.sg/singapore/singapore-india-upgrading-ties-comprehensive-strategic-partnership-during-modis-visit
https://www.straitstimes.com/singapore/singapore-india-exchange-agreements-to-tighten-links-in-semiconductors-digital-tech
https://www.channelnewsasia.com/singapore/india-elevate-ties-comprehensive-strategic-partnership-narendra-modii-official-visit-singapore-4588841
https://www.zaobao.com.sg/news/singapore/story20240906-4640635
Singapore accelerates drive to import low-carbon electricity, raising target from 4GW to 6GW by 2035
Singapore – Singapore has turbocharged its drive to reduce the carbon footprint of its power sector, with a new target of importing 6 gigawatts (GW) of low-carbon electricity from its neighbours by 2035.
https://www.straitstimes.com/singapore/s-pore-accelerates-drive-to-import-low-carbon-electricity-upping-target-from-4gw-to-6gw-by-2035
https://www.channelnewsasia.com/singapore/singapore-import-low-carbon-electricity-indonesia-conditional-approval-licence-target-raised-4587851
Decade-high Singapore dollar effects felt by importers, exporters, shoppers, tourists
Singapore – It has been more than a decade since the Singapore dollar was last this strong against its US counterpart, and the effects are being felt by everyone from importers and exporters to shoppers and tourists.
https://www.straitstimes.com/business/decade-high-singapore-dollar-felt-by-businesses-shoppers-and-tourists
Flexible work arrangements: A delicate balancing act for employers
You may be wondering what your workplace will look like with flexible work arrangements (FWAs). Believe us, we have thought hard about it too, as we prepare for the Tripartite Guidelines on Flexible Work Arrangement Requests to take effect on Dec 1.
https://www.businesstimes.com.sg/opinion-features/flexible-work-arrangements-delicate-balancing-act-employers
Business News
Analysts upbeat on CICT offer for Ion Orchard, say investors should subscribe in fund-raising exercise
Singapore – Unit holders of Singapore’s largest real estate investment trust (Reit) are encouraged to subscribe for a preferential offer to raise funds for the acquisition of a stake in one of the Republic’s most prestigious shopping malls.
https://www.straitstimes.com/business/companies-markets/analysts-upbeat-on-cict-offer-for-ion-orchard-say-investors-should-subscribe-in-fund-raising-exercise
OUE REIT ready for growth after emerging stronger from rate hike cycle
OUE Reit is in the plum position of owning nearly all Singapore-based assets, with just a single building in Huaihai Zhong Road, Shanghai. Its revenue is almost evenly split between office (50.2%) and hospitality and retail (49.8%). This diversified portfolio of high-quality assets has enabled the REIT to provide income resiliency and attractive return.
https://www.theedgesingapore.com/capital/reits-report-2024/oue-reit-ready-growth-after-emerging-stronger-rate-hike-cycle
Global Economy & Real Estate
Falling interest rates offers scant shelter from property storm
https://www.businesstimes.com.sg/property/falling-interest-rates-offers-scant-shelter-property-storm
US service sector steady in August; employment cooling
https://www.businesstimes.com.sg/international/us-service-sector-steady-august-employment-cooling
https://www.bloomberg.com/news/articles/2024-09-05/us-services-activity-expands-at-modest-pace-for-a-second-month
US Q2 productivity revised higher
https://www.businesstimes.com.sg/international/us-q2-productivity-revised-higher
US weekly jobless claims decline as layoffs remain low
https://www.businesstimes.com.sg/international/us-weekly-jobless-claims-decline-layoffs-remain-low
US private sector hiring misses expectations in August: ADP
https://www.businesstimes.com.sg/international/us-private-sector-hiring-misses-expectations-august-adp
Be careful what you wish for: Why a Fed cut makes life easier and harder for Asian central banks
https://www.businesstimes.com.sg/opinion-features/be-careful-what-you-wish-why-fed-cut-makes-life-easier-and-harder-asian-central-banks
Open plan: Half a tree-crushed house for half a million dollars
https://www.businesstimes.com.sg/property/open-plan-half-tree-crushed-house-half-million-dollars
China’s central bank sees room to cut reserve buffers to boost growth
https://www.channelnewsasia.com/business/chinas-central-bank-sees-room-cut-reserve-buffers-boost-growth-4588271
Country Garden’s home sales tank 57% as liquidity stress worsens
https://www.businesstimes.com.sg/property/country-gardens-home-sales-tank-57-liquidity-stress-worsens
German economy set to stagnate this year, Ifo institute says
https://www.businesstimes.com.sg/international/german-economy-set-stagnate-year-ifo-institute-says
German industrial orders unexpectedly rise in July
https://www.businesstimes.com.sg/international/german-industrial-orders-unexpectedly-rise-july
Hong Kong’s biggest developer Sun Hung Kai sees profit fall 9% in downturn
https://www.businesstimes.com.sg/property/hong-kongs-biggest-developer-sun-hung-kai-sees-profit-fall-9-downturn
https://www.scmp.com/business/companies/article/3277373/shkp-readies-slew-hong-kong-housing-projects-cash-lower-interest-rates
Country Garden’s home sales tank 57% as liquidity stress worsens
https://www.businesstimes.com.sg/property/country-gardens-home-sales-tank-57-liquidity-stress-worsens
Bank of Japan must raise rates if firms keep spending, says board member Takata
https://www.businesstimes.com.sg/international/bank-japan-must-raise-rates-if-firms-keep-spending-says-board-member-takata
Japan’s July household spending edges up 0.1% y/y
https://www.businesstimes.com.sg/international/japans-july-household-spending-edges-0-1-yy
https://www.channelnewsasia.com/business/japan-july-household-spending-rises-weaker-expected-4590201
https://www.bloomberg.com/news/articles/2024-09-05/japan-s-household-spending-stays-largely-unchanged-in-july
World’s second-tallest tower tests Malaysia’s appetite for more skyscrapers
https://www.straitstimes.com/business/world-s-second-tallest-tower-tests-malaysia-s-appetite-for-more-skyscrapers
New Zealand house prices fall for sixth month as rates take toll
https://www.businesstimes.com.sg/property/new-zealand-house-prices-fall-sixth-month-rates-take-toll
https://www.bloomberg.com/news/articles/2024-09-06/new-zealand-housing-construction-slump-highlights-recession-risk
Philippine inflation cools below estimate in boon for rate cuts
https://www.businesstimes.com.sg/international/philippine-inflation-cools-below-estimate-boon-rate-cuts
https://www.channelnewsasia.com/business/philippine-annual-inflation-slows-33-august-4587561
Thailand to forge ahead with casino plan after public green light
https://www.businesstimes.com.sg/property/thailand-forge-ahead-casino-plan-after-public-green-light
Thai August headline CPI rises 0.35% y/y, just below forecast
https://www.channelnewsasia.com/business/thai-august-headline-cpi-rises-035-y-y-just-below-forecast-4587751
Developer Amata capitalises on robust industrial land activity led by China-Plus-One strategy
https://www.businesstimes.com.sg/international/asean/developer-amata-capitalises-robust-industrial-land-activity-led-china-plus-one-strategy
UK construction growth slows despite housing drive, PMI shows
https://www.businesstimes.com.sg/property/uk-construction-growth-slows-despite-housing-drive-pmi-shows
Britain needs extra US$1.3 trillion investment for economic growth: report
https://www.businesstimes.com.sg/international/britain-needs-extra-us1-3-trillion-investment-economic-growth-report
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