And Noble’s CEO says banks are behind it.
Singapore had the slowest jobs growth since 2003 last year as a cooling economy reduced work in the manufacturing and services industries. The city state added 31,800 jobs last year, or a 0.9 percent gain, its Ministry of Manpower said in a preliminary report Thursday. Local employment increased an estimated 100, while foreign employment rose 22,600, or 2 percent, excluding domestic workers. Read more here.
Prices of completed non-landed residential properties in Singapore fell by 0.4 percent in December 2015 after dropping by 0.7 percent in the month before, according to latest flash estimates of the NUS Singapore Residential Price Index (SRPI). Excluding small units, the central region saw prices decline by 0.6 percent last month, compared to the 0.9 percent decrease in November. In the non-central region, prices fell by 0.2 percent, lower than the previous 0.4 percent drop. Find out more here.
Noble Group Ltd.’s chief executive officer said the region’s top commodity trader still has the support of its banks, stepping up efforts to restore confidence after shareholders backed the sale of its agricultural unit and the company nibbled away at its debt burden by buying back bonds. Stockholders at a special general meeting in Singapore approved sale of the 49 percent holding in Noble Agri Ltd. to Cofco Corp. for at least $750 million, with 90 percent of 4.03 billion shares represented at the gathering endorsing the deal. Find out more here.
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