ADB cuts developing Asia outlook on Omicron risks

MANILA (BLOOMBERG) – The Asian Development Bank (ADB) cut economic growth forecasts for developing Asia, as the emergence of the Omicron variant and rising coronavirus infections globally show the pandemic is far from over. The region’s gross domestic product will expand 7 per cent this year, down a notch from the 7.1 per cent forecast […]

The Achilles' Heel of Biden's climate plan? Coal miners

CHICAGO (NYTIMES) – For years, environmentalists in the United States have sought compromises with labour unions in industries reliant on fossil fuels, aware that one of the biggest obstacles to cutting carbon emissions is opposition from the unions’ members. States like Washington, New York and Illinois have enacted renewable energy laws that were backed by […]

China factory gate inflation slows in November

BEIJING (REUTERS) – China’s factory-gate inflation slowed in November, driven by a government crackdown on runaway commodity prices and an easing power crunch, amid Beijing’s efforts to bolster the faltering economy, data out on Thursday (Dec 9) showed. The increase in the producer price index was slower than a 13.5 per cent gain in October […]

Singapore now Asia's priciest city as inflation adds to Omicron fears

SINGAPORE – Singapore is the most expensive Asian city to live in, with supply chain disruptions and rising fuel costs driving inflation to its highest level in years, noted a report on Wednesday (Dec 1). The new report from the Economist Intelligence Unit (EIU) puts Singapore up two places in its index to joint second […]

Omicron variant raises new fears for pandemic-hit world economy

WASHINGTON (AFP) – Just as it was recovering from the body blow of the Covid-19 pandemic, the global economy has taken yet another hit from the Omicron variant of the virus, which has led to a raft of new travel restrictions. First reported to the World Health Organisation in South Africa less than a week […]

Singapore factory output rises 16.9% in October as pharmaceuticals rebound

SINGAPORE – Singapore’s factory output returned to expansion in October as biomedical production rebounded and all manufacturing clusters posted growth that was partly boosted by a low-base effect. Manufacturing output rose 16.9 per cent last month from a year ago, after a revised 2.2 per cent decline in September, according to data released by the […]

Spectre of high inflation looms large on Singapore's 2022 growth outlook

SINGAPORE – The rapid and persistent rise in prices may become the most pressing challenge next year for policymakers in Singapore and elsewhere, analysts said. If unabated, persistently high levels of inflation can hurt consumers by hitting their purchasing power. It can also cut margins for businesses by depriving them of their pricing power. Please […]

Singapore draws $3.7 billion in fixed asset investment commitments in Q3

SINGAPORE – Fixed asset investment (FAI) commitments in Singapore rose to $3.7 billion in the July to September period this year, according to the Ministry of Trade and Industry’s Economic Survey released on Wednesday (Nov 24). The commitments, garnered by the Economic Development Board, are up from $3.6 billion in the previous quarter and $2.07 […]