SINGAPORE – More families in Singapore could face difficulties making their home loan payments in the coming months, warned the Monetary Authority of Singapore (MAS) on Tuesday (Dec 1). The unsecured credit card charge-off rate, a leading indicator for the credit quality
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German chipmaker Infineon to make Singapore its first global AI innovation hub
SINGAPORE – German microchip maker Infineon Technologies will spend $27 million dollars over the next three years to make Singapore its first global hub to see artificial intelligence (AI) embedded in every job function. The plan includes the upskilling of
Singapore retailers' reliance on local demand may not be sustainable: Survey
SINGAPORE (THE BUSINESS TIMES) – Despite the pandemic, about one in two retailers in Singapore still experienced higher sales from September to October this year than last year, but banking on local demand may not be sustainable. That is according
Tax evasion costs the world $574 billion a year: Report
LONDON (AFP) – Tax evasion is costing the world about US$427 billion (S$574 billion) per year with cash funnelled via murky tax havens, according to data published on Friday (Nov 20) by the Tax Justice Network. The TJN said in
GLOBAL MARKETS-World stocks ease further from highs, oil dips on COVID-19 count
* MSCI World down for third straight day * COVID-19 infection rates suge in United States, Japan * Oil down, dollar up slightly; Fed action eyed LONDON, Nov 19 (Reuters) – World stocks eased for the third day in a
1 in 4 Singapore employers plan to freeze salaries next year: Survey
SINGAPORE (THE BUSINESS TIMES) – About a quarter of organisations in Singapore plan to introduce or continue with salary freezes in 2021, a tad fewer than the 30 per cent that paused wage increments this year. As for pay cuts,
Markets cheer Biden victory as hopes rise of trade tension de-escalation
SINGAPORE – For Singapore-based contract manufacturer Watson EP Industries, a Joe Biden presidential victory is a “ray of hope in the time of Covid” as the pressure has eased on its having to move its audio speaker production for the
Singapore retail sales fall by sharper 10.8% in September
SINGAPORE – Retail sales are still not out of the woods, as takings at the till fell again in September, according to the Department of Statistics (SingStat) on Thursday (Nov 5). Sales fell 10.8 per cent in September compared with
Singapore likely to take longer to recover from Covid-19
Singapore’s economy is likely to take longer to recover from the Covid-19 crisis than it did in past recessions, the Monetary Authority of Singapore (MAS) said yesterday. Part of the reason is a drop in earnings for businesses and lower
Jobless claims fall to 751,000, but new infections a threat
WASHINGTON — The number of Americans seeking unemployment benefits fell last week to 751,000, the lowest since March, but it’s still historically high and indicates the viral pandemic is forcing many employers to cut jobs. Applications for unemployment aid fell