economy

Jokowi declared winner a month after Indonesia presidential vote
(May 21): Indonesian President Joko Widodo won last month’s bitterly contested election by a double-digit margin, official results showed Tuesday, putting the former furniture exporter in charge of the world’s largest Muslim-majority nation for another five years. Widodo, known as Jokowi, won 55.5% of the national vote, compared to his challenger Prabowo Subianto’s 44.5%, the General ...
The economy cannot function without giving and goodwill
SINGAPORE (May 20): As a French citizen, I was deeply affected by the fire at Notre Dame Cathedral in Paris, and was happy and surprised that many people contributed generously to its reconstruction. But I do not understand why, while we were able to collect millions of euros in a few days to rebuild the cathedral, we still cannot collect what is necessary to help those in need and reduce ...
After all the talk about digitisation Asia Pacific businesses are still lagging behind, finds survey
SINGAPORE (May 2): Despite acknowledging the significance of digital transformation as a stepping stone to achieve their business goals, Asia Pacific businesses are still suffering from a lack of digital competencies, according to new research by the Economist Intelligent Unit (EIU). Commissioned by digital performance company Riverbed, the study is based on survey results from over 500 senior ...
Malaysia's stock market is Asia's only loser of 2019
KUALA LUMPUR/SINGAPORE (Mar 12): The euphoria following Malaysia’s historic election last May has faded, leaving its stock market as Asia’s only one in the red this year. The benchmark FTSE Bursa Malaysia KLCI index has fallen more than 1% so far in 2019, the only decliner in the region, while neighboring Singapore has surged 4% and Indonesia gained 3%. The trend is unlikely to change as ...
Singapore among few Asian countries forecast to enjoy real wage growth this year
SINGAPORE (Jan 31): Singapore’s workforce is due for an average salary increase of 4% this year compared to 3.7% predicted in 2018, according to a forecast issued today by consulting firm Korn Ferry. The data was drawn from Korn Ferry’s pay database of over 20 million job holders in 25,000 organisations across more than 110 countries. It showed predicted salary increases as forecasted by ...
China’s economic woes spread across Asia with more pain seen
SINGAPORE (Jan 31): China’s weakening economy is roiling export markets in the rest of Asia – and there’s more pain to come. From Hong Kong to Japan, exports data for December showed a marked downturn as supply-chain disruptions triggered by US-China tensions and a cyclical slowdown in the world economy, led by China, hit the trade-reliant region. More bad news is in store for ...
Trouble in paradise for Singapore's policymakers as economic slowdown sets in
SINGAPORE (Jan 11): The headwinds of geopolitical stresses, market turbulence and policy uncertainties in the major global economies are no friend to small, open and trade-­dependent Singapore. Apart from finding new economic growth drivers, Singapore also faces growing socio-economic issues at home. For one, it has a rapidly ageing population, which has implications for its housing and ...
Property markets from Hong Kong to Sydney join global downturn
HONG KONG/SHANGHAI (Jan 4): Asia is finally succumbing to the global property slowdown that’s jolted homeowners and investors from Vancouver to London, with markets in Singapore, Hong Kong and Australia showing fresh signs of softening. The economic ramifications could be serious. Lower house prices and higher mortgage rates will not only dent consumer confidence, but also disposable ...
December early indicators show China slowed for a seventh month
BEIJING (Dec 28): China’s economy slowed for a seventh straight month in December, as the trade war, subdued domestic demand and decelerating factory inflation combined to undercut growth. That’s the signal from a Bloomberg Economics gauge aggregating the earliest-available indicators on business conditions and market sentiment. The data suggest the government’s stimulus approach and the ...
Singapore leads the way in regional online recruitment activity: Monster
SINGAPORE (Nov 20): Singapore is set to continue on its upward hiring trajectory this year given its strong position in the market, as highlighted by the third quarterly Monster Employment Index (MEI) report by Monster, the online career & recruitment platform. According to the Monster MEI report, overall online hiring activity in Singapore remained on an upward trend with 2% growth for ...