SINGAPORE (BLOOMBERG) – After years of building their foreign-exchange reserves, central banks in Asia are tapping their stockpiles to bolster their weakening currencies against a rising US dollar. Thai reserves slid to US$221.4 billion (S$306.8 billion) as at June 17, in data released late last week. That was the lowest in more than two years. Monthly […]
Read MoreMALAYSIA’s economy is cranking up after the pandemic. Land borders with Singapore have reopened, bringing in millions of visitors. Kuala Lumpur’s notorious traffic jams are back and shoppers are flocking to malls. The revival also has a rich irony: So many workers have left for better-paid jobs in the country’s wealthy southern neighbour that businesses […]
Read MoreINVESTMENT banking activities in Singapore generated US$451.3 million in fees for the first half of the year, representing a 3.3 per cent increase compared to the same period year-ago, according to preliminary data from Refinitiv released on Friday (Jun 24). Of these, advisory fees for completed mergers and acquisitions (M&A) contributed the biggest share, generating US$171.7 […]
Read MoreSINGAPORE’S factory output in May grew faster than the previous month on the back of a surge in semiconductor production, according to data from the Singapore Economic Development Board (EDB) on Friday (Jun 24). Industrial production grew 13.8 per cent year on year, up from a revised 6.4 per cent in April. Excluding the usually volatile […]
Read MoreSINGAPORE consumer prices continued to climb in May, with headline inflation hitting 5.6 per cent, up from 5.4 per cent in April, according to the latest data on Thursday (Jun 23). The consumer price index (CPI) reading now stands at its highest since late 2011, and beat the median forecast of 5.5 per cent in […]
Read MoreSINGAPORE has awarded 3 more in-principle approvals for its much-coveted digital payment token (DPT) licence that allows companies to offer crypto services. The applicants were not named. The move was announced on Wednesday (Jun 22) in a speech by Deputy Prime Minister Heng Swee Keat, who reiterated Singapore’s desire to work with blockchain and digital […]
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