economics

Singapore's weak 1Q GDP growth signals tough times ahead: RHB

SINGAPORE (May 28): RHB Research is turning negative on Singapore’s short-term economic outlook on expectations of a prolonged slowdown in the electronics sector as well as weaker global growth prospects.

As such, the research house is revising its 2019 GDP growth estimate downward to 1.8% from 2.5% previously.

Hong Kong tightens liquidity with $260 mil currency defence

HONG KONG (Mar 11): Hong Kong faces the likelihood of rising borrowing costs after the city’s de facto central bank intervened to defend its currency peg for the first time since August.

The Hong Kong Monetary Authority bought HK$1.51 billion ($260 million) of local dollars during London and New York trading hours after the currency fell to the weak end of its trading band, it said in a statement Saturday. The move will reduce the aggregate balance, a measure of interbank liquidity, to a decade low of HK$74.8 billion.

Singapore plans cautious budget ahead of election

SINGAPORE (Feb 18): Singapore Finance Minister Heng Swee Keat will aim to strike a delicate balance in Monday’s budget: preaching fiscal prudence while doling out more social spending ahead of elections that could come as early as this year.

Market cheer from US-China trade talks may be short-lived, warns UOB

SINGAPORE (Jan 10):  UOB Global Economics & Markets Research says bilateral trade relations between the US and China will be “fraught with difficulties” despite the positive steps made with their first face-to-face meeting since their 90-day truce, which concluded on Jan 9 after a one-day extension.

Both parties released short statements following the meeting indicating they resolved to work towards some resolution.

Global healthcare deals to rise before hitting cyclical trough in 2020: Baker Mckenzie

SINGAPORE (Jan 7): Dealmaking in the global healthcare sector is forecast to rise modestly this year after 2019 “started with a bang” with news of US pharmaceutical giant Bristol-Myers Squibb’s intended acquisition of Celgene for US$74 billion ($100.5 billion).

This is according to Baker McKenzie’s Global Transactions Forecast report for 2019, which predicts a rise of 7% to US$331 billion this year – notwithstanding the BMS-Celgene tie-up – after the healthcare sector registered a 5% drop to US$308 billion in 2018.

Singapore wins Asia's talent battle, but is trounced by Europe

SINGAPORE (Nov 20): Switzerland once again clinched the top spot in a global survey on fostering and attracting talent, in a top 10 list that includes Canada but not the US, and no Asian nations.

The country retained its title for the fifth consecutive year on the World Talent Ranking report published by IMD Business School, a result of its strong emphasis on skills training and education. Denmark and Norway were ranked second and third respectively in the poll, which was dominated by European countries.

Global GDP growth to ease in 2019, dragged by emerging markets & China: Oxford Economics

SINGAPORE (Oct 18): Oxford Economics is anticipating a slowdown in global economic growth from this year’s 3.1% to 2.8% in 2019, a forecast that comes in slightly below consensus to reflect its pessimistic views on emerging markets (EM) and in particular, China.

The research firm continues to see a moderate, slightly sharper slowdown in global GDP growth for 2019 on the back of negative effects associated with higher US bond yields and a stronger USD.

MTI foresees slower 2H for Singapore's economy; maintains 2018 GDP growth forecast at 2.5-3.5%

SINGAPORE (Aug 13): The Ministry of Trade and Industry (MTI) expects Singapore’s economic pace of expansion to moderate in 2H18 against an external backdrop of a weakening global growth outlook, as well as increased uncertainties and risks in the global economy.

This comes even as MTI maintains its GDP growth forecast for 2018 at 2.5-3.5%, highlighting the “strong performance” of the Singapore economy in the first half of the year.

Trade protectionism, tighter liquidity conditions cast darker cloud over Singapore's economic outlook: DBS

SINGAPORE (July 17): DBS Bank’s outlook for Singapore’s economy in 3Q and beyond is turning “increasingly cloudy” on expectations of a slowdown in GDP growth, as well as declining trade prospects in the longer-term due to the effects of trade protectionism and tighter liquidity conditions.

Singapore's 2018 headline CPI expected to rise 1.3% by RHB after May growth

SINGAPORE (June 26): RHB Research expects Singapore’s consumer price index (CPI) to rise by 1.3% in 2018, up from the 0.6% growth in 2017 on imported inflation following rising commodity prices.

RHB’s projection comes after Singapore’s CPI rose 0.4% on-year in May, in line with the Bloomberg consensus and up from the 0.1% rise in April.

This was due to a faster increase in the prices of private road transport, services and retail items as well as a smaller decline in accommodation cost.

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