More families could face difficulty with home loan payments though overall household debt fell: MAS

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

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

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