Category: Business

This marks the first moderation in core inflation since February, reflecting smaller price increases in key sectors.SINGAPORE: Core inflation in Singapore has eased to 5.1% in October, a notable decline for the first time since February this year. The slight moderation from September’s 5.3% is attributed to smaller increases in the prices of electricity, gas, …

The failed cryptocurrency exchange reveals significant debts to its top creditors as bankruptcy proceedings begin.The collapsed cryptocurrency exchange FTX has disclosed that it owes its 50 largest creditors nearly US$3.1 billion (approximately S$4.2 billion), with about US$1.45 billion (around S$2 billion) owed to its top ten creditors. This information was shared in a court filing …

Residents express worries over inflation’s impact on daily expenses in Singapore.In a recent social media update, Ling Weihong, Chairman of the People’s Action Party (PAP) Sengkang East Branch, emphasized that the rising cost of living remains the foremost concern for residents in Singapore.On Tuesday (Nov 15), Mr. Ling took to Facebook to share insights from …

A significant shift in security protocols at Tuas and Woodlands Checkpoints as ICA officers assume first responder duties from the police.SINGAPORE: A typical weekday evening at Tuas Checkpoint unfolds calmly, with heavy vehicles arriving from Malaysia and travelers clearing immigration. Suddenly, chaos erupts as four gunmen clad in camouflage storm the arrival bus hall, forcing …

This marks the second hike in fixed home loan interest rates in under two months.SINGAPORE: DBS, OCBC, and UOB have raised their fixed home loan interest rates as of Tuesday (Nov 15), with rates reaching as high as 4.5%. DBS, Singapore’s largest bank, now offers four fixed-rate packages ranging from two to five years, all …

Parliamentary discussions highlight ongoing concerns over affordable housing amidst rising resale prices.The issue of affordable housing continues to spark debate in Parliament, especially as the resale price index for public housing has risen for ten consecutive quarters. Recently, questions were raised by Workers’ Party MP Gerald Giam (Aljunied GRC) and NCMP Leong Mun Wai (Progress …

Concerns linger over the potential for substantial debt accumulation without adequate credit checks.SINGAPORE: A code of conduct for the “buy now, pay later” (BNPL) industry kicked in on Tuesday (Nov 1), with experts describing it as a much-needed first step to addressing risks of overspending but saying that more protections were needed. BNPL services allow …

External economic conditions and ongoing COVID-19 restrictions expected to impact Singapore's growth trajectory.SINGAPORE: The Monetary Authority of Singapore (MAS) has projected a slowdown in the country's economy at a “below-trend pace” in 2023, citing increasing challenges from the external environment, as announced on Thursday (Oct 27).As a result, overall labor demand is anticipated to “soften …

Experts anticipate sustained inflation levels before a potential decline in late 2023.SINGAPORE: Singapore's core inflation rose to 5.3% in September, driven primarily by significant increases in food prices, services, and retail goods, according to official data released on Tuesday (Oct 25). This figure marks an increase from 5.1% in August, inching closer to a 14-year …

Amid market uncertainties, tech investments offer stability and growth potential for savvy investors.The pandemic has significantly impacted investment markets worldwide. In fact, the global investment landscape began to slow down well before the pandemic hit. All three types of investments—Corporate M&A, greenfield foreign direct investments (FDI), and Private Equity investments (PE)—saw only a modest annual …