Singapore- Shares prices were lifted almost 8 per cent at the Singapore Exchange Thursday, but analysts kept a cautious undertone.

The market rode on renewed confidence injected by the US Federal Reserve's decision to cut interest rates and work at a multi-billion dollar currency swap pact, which is to include Singapore.

The Straits Times Index (STI) began a climb back from the start of the opening bell at the exchange. It rose 130.71 points to close at 1801.91, up 7.82 per cent.

The Singapore bourse recorded a high level of activity with volume rising to 1,822.6 million shares. The day ended with 406 counters recording gains and 151 finishing with losses.

Singapore - The Singapore Tourism Board said Thursday that the number of tourists visiting the city-state has declined because of the global economic crisis and the downturn could continue into next year.

The current global economic climate has caused a general air of uncertainty, which has impacted consumer sentiment and lowered discretionary spending, the board said in a monthly report.

Singapore - The US Federal Reserve, the Banco Central do Brasil, the Banco de Mexico, the Bank of Korea, and the Monetary Authority of Singapore (MAS) Thursday announced the establishment of temporary reciprocal currency arrangements (swap lines).

Singapore  - An afternoon buying spree Tuesday brought some relief to Singapore's battered Straits Times Index, which nosedived in the first hour of trading.

The index made a turnaround, gaining 66.21 points, or 4.41 per cent, to close at 1,666.49.

The index had dropped to a low of 1,475.86 within the first hour of trading to start the week on a bearish note after being closed Monday for a holiday.

A total of 1,490.5 million shares were traded on the Singapore Exchange with 364 stocks recording losses and 205 managing gains.

Singapore  - Singapore's central bank said Tuesday it stands ready to intervene and manage the Singapore dollar exchange rate if volatility continues.

Citing the weakening external economic environment and its impact on Singapore's economy, the bank said its monetary policy would shift to keeping the currency from appreciating too much, which hurts exporters.

"This policy maintains the current level of the policy band, and there will be no re-centring of the band or change to its width," it said in its latest macroeconomic review.

The central bank said it expected economic growth to remain below potential due to the weak global economic environment and the crisis in financial markets.

Singapore - East Asia should be able to achieve an annual economic growth of 3 per cent to 5 per cent considering the current global financial crisis, Singapore's Minister Mentor Lee Kuan Yew said, in press reports Saturday.

Giving the assessment, Lee was upbeat about Asian economic growth supported by China and India.

"I would say the rest of Asia might make 3, 4, 5 per cent, which isn't bad for this condition," said Lee, the first prime minister and architect of modern Singapore.