Economy
Tightening bites: China’s Flash Manufacturing PMI drops to 48.9 in July
Tightening bites: China’s Flash Manufacturing PMI drops to 48.9 in July
This is the first time flash PMI fell below 50 in a year.
Credit profile strength recovers with just 7% of ratings on negative outlook: Fitch
But the outlook for ratings is more negative in some important areas, notably euro zone peripheral countries.
Rupert Murdoch: Ministers’ high pay in Singapore avoids corruption
"It is the cleanest society you'd find anywhere," said the media mogul.
Asia Pac oil and gas companies to overcome liquidity pressures
Standard & Poor’s says crude prices are likely to remain volatile in the next 9 to 12 months.
Gold rush: Is the yellow stuff really a ‘safe haven’ or ‘fools gold’ against a falling USD?
Gold prices are encouraged, surging by more than $20 to $1,585.50/oz.
Singapore dollar hits S$1.2140 to the US$
This is an all-time high before the Singapore dollar traded at S$1.2151.
India’s industrial production slows to lowest growth in 9 months
A weak 5.6% growth rate is just the beginning of a slowdown according to RBS
Asia’s credit growth not yet a cause for concern: Morgan Stanley
Credit in China, India, Korea and Australia is starting to stabilise relative to GDP.
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%.
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Commentary
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