Singapore - Singapore's central bank on Tuesday eased monetary policy for the second time since 2003 by effectively devaluing the currency as the government forecast a record economic contraction this year, the Straits Times reported. The Monetary Authority of Singapore (MAS) re-centred the currency's secret policy band at the existing level of its trade-weighted index, a move economists estimate could imply a devaluation of anywhere between 1 and 3 per cent.
Singapore - Singapore on Tuesday revised its total trade projection for this year to a drop of 22 to 25 per cent, from previous expectations of a decline of 17 to 19 per cent, citing weak export markets. Non-oil domestic exports for 2009 are expected to contract by 10 to 13 per cent, from an earlier projection of a 9 to 11-per-cent decline, International Enterprise (IE) Singapore, a government trade agency, said.
Singapore - Singapore Tuesday revised down its forecast of economic activity for this year, expecting gross domestic product (GDP) to contract by 6 to 9 per cent, lower than the contraction of 2 to 5 per cent that it had forecast on January 21. Advance estimates for the Singapore economy indicate that economic activity slowed sharply in the first quarter of 2009, the Trade and Industry Ministry said in a statement.
The decline in the first quarter affected every sector except construction, the ministry pointed out.
Singapore - Singapore was hit by the second outbreak of mass food-poisoning case in two weeks, as a dozen people fell ill after eating the same food, local media reported Sunday. The Health Ministry said it was notified Saturday of 12 cases, all stemming from soup eaten at a restaurant the night before, Channel News Asia said.
Singapore - Japan is to bid for hosting the 2015 and 2019 Rugby World Cups with a proposal to play the matches in 10 Japanese cities as well as Singapore and Hong Kong, according to a report in the Straits Times Saturday. If Japan wins the bid, Singapore would host five matches, the report said.
Japan is to formally submit the proposal to the International Rugby Board (IRB) on May 13 which is expected to announce its decision on July 28, 2009.
Singapore - Singapore's DBS banking group said its chief executive officer Richard Stanley, who was diagnosed with leukemia in late January, is in critical condition. "Stanley's condition has deteriorated rapidly in the last 24 hours and he is now in critical care," DBS said in a filing to the Singapore Exchange on Friday night.
Stanley had been responding well to treatment earlier and after two rounds of chemotherapy his doctors believed earlier this week that his cancer was in remission.
Singapore - Singapore's central bank on Tuesday eased monetary policy for the second time since 2003 by effectively devaluing the currency as the government forecast a record economic contraction this year, the Straits Times reported. The Monetary Authority of Singapore (MAS) re-centred the currency's secret policy band at the existing level of its trade-weighted index, a move economists estimate could imply a devaluation of anywhere between 1 and 3 per cent.
Singapore - Singapore on Tuesday revised its total trade projection for this year to a drop of 22 to 25 per cent, from previous expectations of a decline of 17 to 19 per cent, citing weak export markets. Non-oil domestic exports for 2009 are expected to contract by 10 to 13 per cent, from an earlier projection of a 9 to 11-per-cent decline, International Enterprise (IE) Singapore, a government trade agency, said.
Singapore - Singapore Tuesday revised down its forecast of economic activity for this year, expecting gross domestic product (GDP) to contract by 6 to 9 per cent, lower than the contraction of 2 to 5 per cent that it had forecast on January 21. Advance estimates for the Singapore economy indicate that economic activity slowed sharply in the first quarter of 2009, the Trade and Industry Ministry said in a statement.
Singapore - Japan is to bid for hosting the 2015 and 2019 Rugby World Cups with a proposal to play the matches in 10 Japanese cities as well as Singapore and Hong Kong, according to a report in the Straits Times Saturday. If Japan wins the bid, Singapore would host five matches, the report said.
Singapore - Singapore's DBS banking group said its chief executive officer Richard Stanley, who was diagnosed with leukemia in late January, is in critical condition. "Stanley's condition has deteriorated rapidly in the last 24 hours and he is now in critical care," DBS said in a filing to the Singapore Exchange on Friday night.
