The Leading Professional and Representative Body for the Real Estate Industry

The Leading Professional and Representative Body for the Real Estate Industry



Daily News – 8 June 2023 (Thu)

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.


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.



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.


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.



Global Economy & Real Estate


The tough choices facing the world’s central banks


World economy set for weak inflation-plagued recovery, OECD says


Yellen says US economy strong but some areas slowing


US trade deficit widens sharply in April


BT Explains: What is electric construction equipment?


Hotelier writes off San Francisco, citing ‘major challenges’


Bank of Canada hikes rates to 4.75%, highest in 22 years


UK set to have the highest inflation among big economies in 2023: OECD


UK house prices post first annual drop since 2012: Halifax


German industrial output rises less than expected in April


Australia’s cities post record rent gain amid inflation jitters


China’s exports tumble in May as global demand falters


China’s state media urge patience as market clamours for property stimulus


Giant cracks in road spark evacuation of high-rise blocks in China


China’s biggest state banks cut interest rates on yuan deposits


Hong Kong housing: developing farmland no substitute for plan to build on prestigious golf course, minister says


Japan upgrades Q1 GDP as businesses spending picks up


South Korea sees annual growth ‘slightly lower’ than 1.6%



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