Singapore dollar hits record high
Monetary authority acts to curb inflation The Singapore dollar climbed to a record high yesterday after a surprise tightening in monetary policy aimed at combating inflation. The currency jumped 1.7 per cent in Asian trade to touch a high of $1.3567 in afternoon trade – its largest single-day gain since October 1998. While a rising … Read more
Singapore economy bounces back – for now
Singapore’s economy has not only averted a technical recession but bounced back with a vengeance in the first quarter of this year. Flash estimates show GDP grew 7.2 per cent year-on-year, thanks largely to a big swing in pharmaceutical exports. On a quarter-on-quarter basis, the economy grew a surprising 16.9 per cent. However, experts warn … Read more
A stronger S$
Singapore’s central bank announced yesterday it will give the Sing dollar more room to go up against the US dollar and other currencies. WHAT IT MEANS FOR… INFLATION Inflation is expected to average 5% to 5.5% this year. A strong Sing dollar eases the pain of rising prices of imports, especially of oil and food. … Read more
A stronger S$
Singapore’s central bank announced yesterday it will give the Sing dollar more room to go up against the US dollar and other currencies. WHAT IT MEANS FOR… INFLATION Inflation is expected to average 5% to 5.5% this year. A strong Sing dollar eases the pain of rising prices of imports, especially of oil and food. … Read more
Singapore economy grows 7.2% on strong showing in manufacturing
Initial estimates for first quarter better than expected despite slowdown in buoyant construction sector SINGAPORE’S economy turned out to be surprisingly resilient in the first quarter, easily beating market expectations with strong growth of 7.2 per cent. The advance estimates issued by the Ministry of Trade and Industry (MTI) reported yesterday were a marked improvement … Read more
M&C in venture to invest US$46m in 2 Indian hotels
The Chennai and Bangalore hotels will target business travellers MILLENNIUM and Copthorne Hotels plc (M&C), a subsidiary of City Developments Limited, has announced a joint venture company in India with Rakindo Developers Pvt Ltd – M&C Rakindo Hospitality – to invest US$46 million in developing two hotels in the south of the country. Rakindo Developers … Read more
Economy surprises with robust 7.2% Q1 growth
But MAS says growth is likely to ease in next few quarters as global outlook dims Inflationary concerns outweigh downside growth risks – for now anyway – as the economy rebounded strongly in the first quarter. But GDP growth is expected to ease in the months ahead. The 7.2 per cent flash estimate of Q1 … Read more
Tackling inflation needs multiple measures
STRONGER-THAN-EXPECTED economic growth has given more room for the Monetary Authority of Singapore (MAS) to tighten monetary policy to fight inflation, but that luxury may not be afforded by the central bank going into the second half of the year. Singapore’s economy grew 7.2 per cent in the first quarter, beating economists’ expectations. In its … Read more
MAS signals it will allow stronger Sing dollar to fight inflation
Strong Q1 GDP numbers seen giving MAS more room to tackle price rises The Monetary Authority of Singapore (MAS) yesterday effectively gave a one-time boost to the Singapore dollar to fight inflation, surprising analysts who had expected the central bank to leave its stance on the currency unchanged. The MAS said that it would re-centre … Read more
HDB gets 1,752 applications for 490 flats
Board will restructure, re-time sale launches THE Housing and Development Board (HDB) launched 490 flats for sale in the North and West Zones through the bi-monthly sales exercise yesterday, receiving 1,752 applications on the same day. HDB has also reviewed the bi-monthly and monthly sales exercises and said that the supply of unsold four-room and … Read more
