economy

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 inequality to fix our economy.

Malaysia sees trade diversion cushioning impact of tariff wars

(July 18): Malaysia’s central bank, which has already downgraded its economic growth outlook for this year amid an escalating trade war, sees a partial offset as companies shift operations from China to sidestep higher US tariffs.

In her first formal interview with the international media since she took office almost a year ago, Governor Nor Shamsiah Mohd Yunus said the trade diversion could add about 10 basis points to this year’s growth rate. That would be on top of Bank Negara Malaysia’s current forecast of 4.3% to 4.8% for 2019.

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.

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 inequality to fix our economy.

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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).

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 investors wait for Malaysian government initiatives to cut the budget deficit, clamp down on corruption and boost purchasing power.

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 global HR leaders for this year, as compared to 2019 inflation forecasts from the Economist Intelligent Unit’s (EIU).

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 January: Bloomberg Economics’ early indicator shows China’s economy slowed further this month, while Thursday’s purchasing managers index is set to show another decline in factory output.

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 healthcare policies.

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.

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