ECONOMY | Staff Reporter, Singapore

Daily Briefing: PM confident of over 3% GDP growth; Why cash in your portfolio makes it less profitable

And here's how to educate yourself on investment scams.

From via Yahoo! Finance:

With a GDP per capita of $87,000, Singapore is likely to be one of the world’s most targeted places for scammers looking to earn a quick buck.

A scam can take place anywhere to anyone. You could be scamed in your home by illegal durian sellers, or when you shop online on e-commerce sites like Carousell.

Both the young and the elderly can become victims of scams but more often than not, the elderly are the ones who are more susceptible. They may be less active (and thus, less savvy) on social media, and may lack the necessary information to be able to identify a scam that other people may instantly recognise.

Read more here.

From The Motley Fool:

Deciding how much cash to hold in a portfolio is a tough choice for any investor to make. On the one hand, some cash is a necessity. It is required to take advantage of inefficient short-term pricing of assets which could lead to profitable investment opportunities in the long run. However, cash also reduces the overall returns of a portfolio, since it offers a modest return in comparison to shares.

Looking ahead, cash may become an even less efficient asset. Global inflation is expected to rise, and with world stock markets making gains there could be a valid argument to reduce cash levels to extremely low levels over the medium term.

Read more here.

From Bloomberg Finance:

Singaporean Prime Minister Lee Hsien Loong says his country is expected to exceed expectations this year by recording economic growth above 3 percent.

Addressing his People’s Action Party’s 2017 convention on Sunday, Lee said Singapore was benefiting from an improved world economy, but would have to press on with plans to restructure and upgrade the economy to sustain growth.

“Our unemployment remains low, wages have gone up, and most significantly productivity has picked up,” said Lee. “Initially we expected 1.5 percent growth, then we revised it up to 2 to 3 percent, now it looks like we may exceed 3 percent.”

Read more here.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.