SINGAPORE entered both full-blown and technical recession in the second quarter, according to advance estimates showing a 12.6 per cent year-on-year contraction in gross domestic product (GDP), and a 41.2 per cent quarter-on-quarter contraction. The year-on-year figure was worse than economists’ expectations of a 10.5 per cent fall, and much worse than the first quarter’s 0.3 per […]
Read MoreSINGAPORE — Singapore plunged into recession in the second quarter as growth fell 41.2 percent quarter-on-quarter with the trade-dependent economy hammered by the coronavirus, preliminary data showed Tuesday. Year-on-year, the economy shrank 12.6 percent between April and June, according to the data from the trade ministry, as strict curbs were imposed to fight the virus. […]
Read MoreRESALE prices of non-landed private homes were stable in June, with sales volume recovering from the previous month, according to flash figures from real estate portal SRX Property on Tuesday. An estimated 497 units were resold last month, representing a 174.6 per cent increase, or more than double the 181 units resold in May this […]
Read MoreSINGAPORE – Singapore clinched three of the top five private equity and venture capital deals struck in the region in the first quarter amid markedly slower economic activity across South-east Asia due to the pandemic. There were 141 such deals worth US$1.4 billion (S$1.95 billion) in the region in the three months to March 31, Ernst […]
Read MoreIn Indonesia, locals can soon fly from Jakarta to the beaches of Bali for a domestic vacation. Tokyo residents can escape the pandemic stress with a hike up Mount Fuji, and New Yorkers can head to the Hamptons on Long Island. Residents of Singapore, a city-state smaller than New York City, have few such options, […]
Read MoreSINGAPORE retail sales plummeted by a record degree in May, as the second month of the national “circuit breaker” extended the sector’s losses. The 52.1 per cent slide in receipts was worse than April’s 40.3 per cent plunge, and marks the worst decline since data was compiled in 1986, said the Department of Statistics (SingStat). […]
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