Economy
China’s local government debt amounts to a whopping $1.5-2.1trn
$300-450bn worth of local government investment vehicle loans are already in trouble.
China’s local government debt amounts to a whopping $1.5-2.1trn
$300-450bn worth of local government investment vehicle loans are already in trouble.
Currency forecast to rise 2.4%
Bigger driver would be more of the trend in the Chinese currency and the outlook of the euro, says a currency strategist.
Total trade up by 5% in June
Compared to the same period in 2010, total exports grew by 6.2 percent in June 2011.
Singapore apparently vulnerable to global economy fluctuations
A tell-tale is the GDP contraction in the second quarter amidst global economic weakness.
SPRING Singapore joins forces with groups to ensure safer toys
The agency is tasked to ensure that the toys sold in Singapore must conform to applicable international, national or regional safety standards.
Singapore and Saudi Arabia ink new tax agreement
Tax pact to ramp up economic ties between the two countries by allowing businesses to enjoy a range of new tax reductions and exemptions.
Global IPO activity rose by 39% in Q2 2011
And guess who’s leading with 108 IPOs and US$20.4 billion funds raised?
Economy contracts by almost 8% quarter on quarter
Among the struggling sectors is manufacturing which fell by 5.5 percent after expanding by 16.4 percent in the first quarter.
China’s GDP robust at 9.5% in 2Q11
It was a tad slower than 1Q11’s 9.7%.
GDP growth results “likely to disappoint”
This is according to OCBC following a contraction in manufacturing momentum.
Singapore growth at a standstill
Industrial production, for instance, experienced in April and May the first back-to-back decline since 2009.
Testing times: Massive natural catastrophes trigger US$265b economic losses
Worse, the loss amount worldwide was more than five times higher than the first-half average for the past ten years.
Singapore ranked 8th most expensive city in the world for expats
The city placed third in Asia, just behind Tokyo and Osaka.
Philippine remittance hit by Saudi sackings
DBS says approximately 300,000 overseas Filipino workers will be affected by Saudi Arabia’s plans to limit its intake of foreign workers.
So how much income tax do you want to pay?
The Ministry of Finance is conducting a public consultation on the draft Income Tax (Amendment) Bill 2011 until the first of August.
Korea’s central bank to hike up rates to 3.5% in August
HSBC says inflation will drift back down to the central bank’s target range of 2-4%.
Price pressure: Core prices may continue to rise as Asian exports plunge in June
Asia is gradually running out of excess capacity to meet rampant local demand.
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