Economists see upgrade in Singapore's 2021 growth forecast

SINGAPORE – The health prognosis of Singapore’s trading partners will likely have a significant bearing on how its trade-dependent economy performs through the rest of 2021. However, the phased easing of Covid-related curbs will likely boost private consumption and help compensate for some of the possible loss in growth momentum

Tokyo shows an inflation pulse for the first time in a year

TOKYO (BLOOMBERG) – Tokyo consumer prices unexpectedly rose for the first time in a year, another sign of a recovering inflation pulse in Japan, though the pace of gains was far from the levels fuelling fears elsewhere in the world. Prices in Japan’s capital, excluding those for fresh food, ticked

Bitcoin reverses weekend rally to drop below US$40,000

HONG KONG (BLOOMBERG) – Bitcoin retreated on Monday (August 2) back below US$40,000 after climbing over the weekend to the highest levels since May. The largest cryptocurrency fell as much as 4.9 per cent and was trading at US$39,790 before noon in Hong Kong. Other virtual coins, including second-ranked Ether,

4 international companies to set up base in Singapore's Punggol Digital District, creating 2,000 jobs

SINGAPORE – Four international companies have confirmed their plans to set up base in Punggol Digital District, a move that will create over 2,000 tech jobs ranging from data analysts and solution engineers to artificial intelligence and blockchain developers. Minister for Trade and Industry Gan Kim Yong on Wednesday (July

Singapore's grip on $41 billion oil market challenged by China

SINGAPORE (BLOOMBERG) – Singapore is facing the greatest competition yet to its status as the dominant marine fuel supplier in Asia, with China luring more ships to its shores following a rapid expansion of its port and refining facilities. China’s marine fuel sales – known in the industry as bunkering

Singapore economy grows 14.3% in Q2: Flash data

SINGAPORE – The Singapore economy grew in the second quarter at a record pace due to a low year-ago base effect when the Covid-19 pandemic plunged the economy into its worst recession. Gross domestic product (GDP) expanded 14.3 per cent on a year-on-year basis in the second quarter of 2021, the

US consumer prices surged in June, topping all estimates

(BLOOMBERG) – Prices paid by US consumers surged in June by the most since 2008, topping all forecasts and showing higher costs associated with the economy’s reopening continue to fuel inflationary pressures. The consumer price index jumped 0.9 per cent in June and 5.4 per cent from the same month

Temasek's 1-year shareholder return rebounds to 24.5%, portfolio value hits record $381 billion

SINGAPORE – State investor Temasek Holdings’ one-year total shareholder return bounced back in the year ending March, with its portfolio value reaching a new high. One-year return for shareholders came in at 24.53 per cent, a turnaround from last year’s -2.28 per cent. This is its highest since 2010, when

Oil edges higher with investors betting on accelerating demand

NEW YORK (BLOOMBERG) – Oil edged higher after a two-day gain amid optimism that fuel demand will keep rising, despite a Covid-19 resurgence in many regions. Futures in New York traded near US$75 a barrel after climbing more than 2 per cent on Friday. The rollout of vaccines and rebound

Payment performance of local firms falls slightly in Q2

SINGAPORE (THE BUSINESS TIMES) – Payment performance of local firms has fallen slightly after three consecutive quarters of improvement, the Singapore Commercial Credit Bureau (SCCB) said on Monday. Occurrences of prompt payments fell by 1.7 percentage points to 40.8 per cent in the second quarter, down from 42.5 per cent