Singapore Economy
Climate change is here and now, says Desmond Lee; this is how Singapore is fighting back
Singapore – The impact of climate change is here and now, with Singapore already experiencing the hottest day in 40 years on May 13 when the mercury hit 37 deg C, while 2022 was one of the wettest years since 1980.
https://www.straitstimes.com/singapore/climate-change-is-here-and-now-says-desmond-lee-this-is-how-singapore-is-fighting-back
Singapore launches sustainability standard for data centres in tropical settings
Singapore — Singapore’s Infocomm Media Development Authority (IMDA) on Thursday (June 8) introduced a sustainability standard for data centres operating in tropical climates. It comes after a working group established guidelines to enable the operation of data centres at higher temperatures while optimising their energy efficiency.
https://www.todayonline.com/singapore/singapore-launches-sustainability-standard-data-centres-tropical-settings-2188786
Companies’ Brief
Keppel Infrastructure Trust appoints Kevin Neo as deputy CEO of trustee-manager
Keppel Infrastructure Trust (KIT) announced on Wednesday (Jun 7) that Kevin Neo will be appointed as the deputy chief executive officer (CEO) of the trustee-manager with effect from Jun 8.
https://www.businesstimes.com.sg/companies-markets/keppel-infrastructure-trust-appoints-kevin-neo-deputy-ceo-trustee-manager
https://www.theedgesingapore.com/news/new-appointments/keppel-infrastructure-trust-appoints-kevin-neo-deputy-ceo
StanChart trimming more than 100 roles as part of cost cuts
Standard Chartered is embarking on selective layoffs of employees across its Singapore, London and Hong Kong hubs, part of the Asia-focused lender’s existing plan to cut costs by more than US$1 billion through 2024.
https://www.businesstimes.com.sg/companies-markets/stanchart-trimming-more-100-roles-part-cost-cuts
Global Economy & Real Estate
The tough choices facing the world’s central banks
https://www.businesstimes.com.sg/international/global/tough-choices-facing-worlds-central-banks
World economy set for weak inflation-plagued recovery, OECD says
https://www.straitstimes.com/business/world-economy-set-for-weak-inflation-plagued-recovery-oecd-says
Yellen says US economy strong but some areas slowing
https://www.businesstimes.com.sg/international/yellen-says-us-economy-strong-some-areas-slowing
US trade deficit widens sharply in April
https://www.businesstimes.com.sg/international/us-trade-deficit-widens-sharply-april
BT Explains: What is electric construction equipment?
https://www.businesstimes.com.sg/companies-markets/bt-explains-what-electric-construction-equipment
Hotelier writes off San Francisco, citing ‘major challenges’
https://www.businesstimes.com.sg/property/hotelier-writes-san-francisco-citing-major-challenges
Bank of Canada hikes rates to 4.75%, highest in 22 years
https://www.businesstimes.com.sg/international/bank-canada-hikes-rates-475-highest-22-years
UK set to have the highest inflation among big economies in 2023: OECD
https://www.businesstimes.com.sg/international/uk-set-have-highest-inflation-among-big-economies-2023-oecd
UK house prices post first annual drop since 2012: Halifax
https://www.businesstimes.com.sg/property/uk-house-prices-post-first-annual-drop-2012-halifax
German industrial output rises less than expected in April
https://www.businesstimes.com.sg/international/german-industrial-output-rises-less-expected-april
Australia’s cities post record rent gain amid inflation jitters
https://www.businesstimes.com.sg/property/australias-cities-post-record-rent-gain-amid-inflation-jitters
China’s exports tumble in May as global demand falters
https://www.businesstimes.com.sg/international/global/chinas-exports-tumble-may-global-demand-falters
https://www.straitstimes.com/business/china-exports-drop-more-than-expected-in-may-adding-to-economic-risks
https://www.channelnewsasia.com/business/china-exports-tumble-may-global-demand-falters-3544466
https://www.scmp.com/economy/economic-indicators/article/3223247/4-takeaways-chinas-may-trade-data-exports-tumbled
China’s state media urge patience as market clamours for property stimulus
https://www.businesstimes.com.sg/property/chinas-state-media-urge-patience-market-clamours-property-stimulus
Giant cracks in road spark evacuation of high-rise blocks in China
https://www.businesstimes.com.sg/property/giant-cracks-road-spark-evacuation-high-rise-blocks-china
China’s biggest state banks cut interest rates on yuan deposits
https://www.channelnewsasia.com/business/chinas-biggest-state-banks-cut-interest-rates-yuan-deposits-3547186
Hong Kong housing: developing farmland no substitute for plan to build on prestigious golf course, minister says
https://www.scmp.com/news/hong-kong/politics/article/3223233/hong-kong-housing-developing-farmland-no-substitute-plan-build-prestigious-golf-course-minister-says
Japan upgrades Q1 GDP as businesses spending picks up
https://www.channelnewsasia.com/business/japan-upgrades-q1-gdp-businesses-spending-picks-3547021
https://www.businesstimes.com.sg/international/japan-economy-grows-faster-pace-businesses-spend-more
South Korea sees annual growth ‘slightly lower’ than 1.6%
https://www.channelnewsasia.com/business/south-korea-sees-annual-growth-slightly-lower-16-3547211
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