Singapore’s economy is facing its worst contraction since independence more than a half-century ago as the coronavirus outbreak and measures to contain it pummel the trade-reliant city state. The government expects gross domestic product to shrink 4% to 7% this year, down from a previous forecast of a 1%-4% contraction, as the outlook for external […]
Read MoreSINGAPORE: Singapore’s embattled economy could shrink by as much as seven percent this year, which would be the worst reading since independence, with the government saying Tuesday the coronavirus pandemic had throttled the key export sector. The city-state is seen as a bellwether of the global economy and the historic contraction highlights the extreme pain […]
Read MoreSINGAPORE – Some 20 to 30 per cent of mom-and-pop shops may go belly up in four to six weeks if they have to continue to stay shuttered. President of the Federation of Merchants’ Associations, Singapore (FMAS) Yeo Hiang Meng has called for the Government to allow these heartland enterprises to resume business in two weeks, among […]
Read MoreSINGAPORE (THE BUSINESS TIMES) – Singapore’s life insurance industry saw new business, in terms of total weighted premiums, grow 10 per cent to $965.8 million for the first quarter from January to March 2020, from $877.8 million a year ago. This comes as more consumers took action to secure their financial future in view of […]
Read MoreSINGAPORE (BLOOMBERG) – Negative interest rates are creeping into Singapore. The nation’s overnight borrowing rate was less than two basis points above zero on Tuesday (May 20), down from the year’s high of 1.68 per cent in January. The one-month swap offer rate, the cost to borrow the city’s currency for US dollar investors, fell […]
Read MoreSINGAPORE (THE BUSINESS TIMES) – Hawkers who get on board Foodpanda will not have to pay commission for one month as part of a new initiative to ease hawkers’ entry onto the food delivery app, Foodpanda announced in a press statement on Friday (May 22). Dubbed the “pandasupport hawker initiative”, the incentive is being rolled out with “the […]
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Thailand
