Singapore

Home prices in Singapore increase 2.3% as market speculation increases.
24Jan mmBy Brian ThompsonNo Comments
Market, Singapore

Home prices in Singapore increase 2.3% as market speculation increases.

Singapore home prices rose at the same pace as initially estimated in the last quarter of 2024, amid analyst forecasts that the government may intervene to cool the market this year. Private residential prices climbed 2.3% in the fourth quarter from the previous three months, according to final figures released by the Urban Redevelopment Authority on Friday, matching an earlier estimate. For the whole of 2024, prices rose 3.9%. Rents for private homes – closely watched by expats and locals alike – were unchanged from the previous three months, when they gained 0.8%. It contributed to a 1.9% fall in rents in 2024, the first drop since 2020. The resurgence in residential values was driven by a flurry of projects released around the end of last year. Lower interest rates attract...
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Singapore warns of a downturn in GDP as it eases monetary policy for the first time since 2020.
24Jan mmBy Brian ThompsonNo Comments
Singapore

Singapore warns of a downturn in GDP as it eases monetary policy for the first time since 2020.

The Monetary Authority of Singapore said it would slightly reduce the slope of its exchange rate policy band, known as the Singapore dollar nominal effective exchange rate or S$NEER. MAS said Singapore’s growth momentum is expected to slow over this year, and core inflation “has moderated more quickly than expected.” Singapore on Friday loosened its monetary policy for the first time since 2020, citing a faster than expected decline in inflation and warning about a growth slowdown. The Monetary Authority of Singapore said it would slightly reduce the slope of its exchange rate policy band, known as the Singapore dollar nominal effective exchange rate, or S$NEER. In its release, MAS said Singapore’s growth momentum is expected to slow this year, and core inflation “has mo...
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As tensions between the US and China increase, Malaysia links its fortunes to Singapore.
22Jan mmBy Brian ThompsonNo Comments
Asia, China, Singapore, USA

As tensions between the US and China increase, Malaysia links its fortunes to Singapore.

New special economic zone paves way for closer relations between one-time south-east Asian rivals As tensions ratchet up between two of Malaysia’s biggest trading partners, the US and China, the south-east Asian nation is increasingly looking to hitch its wagon to its more successful neighbour, Singapore. A special economic zone straddling the two countries — along with a raft of initiatives to build stronger ties — has been designed to help the pair withstand tougher global economic trading conditions. “We are entering a new era where global tensions are here to stay,” warned Singapore’s Prime Minister Lawrence Wong this month at the signing of an agreement to create the Johor-Singapore Special Economic Zone. “The world is becoming a more dangerous and troubled place. This...
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November saw a sharp increase in Singaporean industry output, but the forecast for 2025 is still uncertain.
27Dec mmBy Walter ParezNo Comments
Market, Singapore

November saw a sharp increase in Singaporean industry output, but the forecast for 2025 is still uncertain.

SINGAPORE - Singapore’s manufacturing output expanded for a fifth straight month in November as production surged in the key electronics industry, which likely got a boost from front-loading ahead of possible US tariff hikes. Analysts were cautious about the uncertain outlook for manufacturing in 2025, given the incoming Trump administration’s more protectionist stance and heightened geopolitical tensions. Total factory output climbed 8.5 per cent year on year, after a modest 1.2 per cent rise in October. The expansion, however, fell short of the 9.7 per cent growth forecast by economists in a Bloomberg poll. Excluding the more volatile biomedical industry, output increased 13 per cent, data from the Economic Development Board on Dec 26 showed. “Export demand for electronics r...
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Today’s airfare: $1,100 for Premium Economy on Singapore Airlines from New York to Southeast Asia
24Dec mmBy Walter ParezNo Comments
Market, Singapore

Today’s airfare: $1,100 for Premium Economy on Singapore Airlines from New York to Southeast Asia

Today’s Airfare of the Day goes to Singapore Airlines and their premium economy excursion fares valid for round trip travel departing from New York (JFK/EWR), United States to several destinations in South East Asia via Singapore (SIN) on their nonstop service. TRAVEL RESTRICTIONS: Valid for travel commencing on/after 01FEB 25 and on/before 20MAY 25..BLACKOUT DATES: -/-SALES RESTRICTIONS: Tickets must be issued on/after 20DEC 24 and on/before 06JAN 25. Booking class: RPrice: from $1,100 ($991 base fare + taxes & surcharges).Day/time restrictions: -/-Advanced reservation/ticketing restrictions: -/-Minimum stay: -/-Maximum stay: 6 months after departure from fare origin.Stopovers: -/-Cancellations: ticket is non-refundable in case of cancel/no-show.Changes: charge $100.00 for reis...
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My Opinion: The Future of Singapore amid Uncertain Times
24Dec mmBy Walter ParezNo Comments
Singapore, World

My Opinion: The Future of Singapore amid Uncertain Times

This article first appeared in Forum, The Edge Malaysia Weekly on December 23, 2024 - December 29, 2024 Andy Gove, the long-serving CEO of Intel, wrote of how only the paranoid will survive. Such are the times we live in that his advice is probably a helpful starting point as we think about what Singapore will be like in coming years. No one should underestimate the enormity of the challenges the city state will face in the years to come. Some of the fundamental prerequisites for Singapore’s well-being will be at risk — such as a peaceful world and continued globalisation. But neither should we be fearful. After all, Singapore has faced down many challenges over the past 60 years of independence. Much will hinge on how we use our still formidable strengths to protect ourselves from ...
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Core inflation in Singapore continues to fall, reaching 1.9% in November.
23Dec mmBy Walter ParezNo Comments
Market, Singapore

Core inflation in Singapore continues to fall, reaching 1.9% in November.

Singapore’s core inflation continued its decline in November to a three-year low, beating economists’ expectations, on the back of easing food and services costs. Core inflation, which strips out private transport and accommodation costs to better reflect the expenses of households here, fell to 1.9 per cent year on year, from 2.1 per cent in October. This is the lowest since November 2021, when core inflation was 1.6 per cent. Economists polled by Bloomberg had estimated the median core inflation to be 2.1 per cent. Overall – or headline – inflation rose to 1.6 per cent year on year in November, up from 1.4 per cent in October but lower than the Bloomberg poll of 1.8 per cent. The slight increase was led by a more gradual decline in private transport costs. On a month-on-m...
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Singapore Airlines is transitioning its business class to Le Labo amenity kits.
23Dec mmBy Walter ParezNo Comments
Market, Singapore

Singapore Airlines is transitioning its business class to Le Labo amenity kits.

Back in 2020, Singapore Airlines made a surprise move by introducing amenity kits for Business Class passengers, a perk the carrier had long resisted providing, in favour of offering shared amenities in the lavatories and other items such as slippers and eyeshades on request. SIA has now announced that it’s switching to a new brand for these kits, with luxury perfume house Le Labo selected as the the partner for the carrier’s latest Business Class amenity kits. Who is Le Labo?If you’re not already familiar, Le Labo is a luxury fragrance brand known for its minimalist aesthetic, artisanal approach, and high-quality perfumes. Founded in 2006 in New York City by Fabrice Penot and Edouard Roschi, Le Labo (French for “The Lab”) emphasises craftsmanship and personalisation, setting it ...
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Singapore’s Inflation Data Is Essential For Future Monetary Actions
20Dec mmBy Walter ParezNo Comments
Market, Singapore

Singapore’s Inflation Data Is Essential For Future Monetary Actions

What’s going on here? Singapore is closely watching November's inflation report, which could influence the Monetary Authority of Singapore’s (MAS) upcoming policy decisions amid global trade uncertainties. What does this mean? November's core inflation in Singapore is expected to remain steady at 2.1%, aligning closely with MAS's quarterly forecast of 2%. However, with economists at DBS Bank predicting a core inflation average of 1.8% by 2025, MAS might hold off on easing until US policies provide a clearer backdrop. Singapore uses the Singapore dollar nominal effective exchange rate (S$NEER) to guide its monetary policy, adjusting factors like slope and width to manage economic conditions. Recent surveys show reduced expectations for a January policy easing, backed by Moody's an...
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Campaigners call the $1.3 trillion climate funding agreement that Cop29 agreed to a “betrayal.”
23Nov mmBy Michael SmithNo Comments
Asia, China, Market, Singapore, USA, World

Campaigners call the $1.3 trillion climate funding agreement that Cop29 agreed to a “betrayal.”

Rich and poor countries concluded a trillion-dollar deal on the climate crisis in the early hours of Sunday morning, after marathon talks and days of bitter recriminations ended in what campaigners said was a “betrayal”. Under the target the developing world should receive at least $1.3tn (£1tn) a year in funds to help them shift to a low-carbon economy and cope with the impacts of extreme weather, by 2035. But only $300bn of that will come primarily in the form they are most in need of – grants and low-interest loans from the developed world. The rest will have to come from private investors and a range of potential new sources of money, such as possible levies on fossil fuels and frequent flyers, which have yet to be agreed. Mohamed Adow, director of the Pow...
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