Daily briefing: Retail sales suffer as COVID resurge in Asia; SG sets 75% vaccination target before easing restrictions

And Singapore pushes through with Pedra Branca developments.

From CNBC

Retail sales in some parts of Asia took a beating as COVID-19 infections rise, which is a similar weakness seen in China’s recovery.

Consumer spending across Asia has shown signs of recovery but at a slower pace. It also remains below pre-pandemic levels, which was linked to the continuing pandemic and outbreaks in some Asia countries.

Oxford Economics Senior Economist Lloyd Chan said in light of this, recovery in consumer spending will be “bumpy and rather uneven.”

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From CNBC

Singapore is looking at vaccinating 75% of its population by early October before it starts easing restrictions, a government official said.

Trade Minister Gan Kim Yong said border restrictions will be gradually lifted once the COVID-19 pandemic transitions into an endemic.

He noted the government plans to have at least two-thirds of its population vaccinated by 9 August. Data from Our World In Data has shown some 5.6 million have already been vaccinated, as of 3 July.

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From CNA

Singapore will be pushing through with the developments at Pedra Branca to enhance maritime safety and security as well as improve search and rescue capabilities, the Ministry of National Development said.

Developments in the area have been under discussion since 1970s, but were delayed over a legal dispute between Singapore and Malaysia.

The island of Pedra Branca is located near the eastern entrance of the Strait of Singapore. The development will also include a land reclamation that will be conducted by the Housing & Development Board.

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