Sunday, 2 Oct 2022

Economy

As Fed meets, investor angst over rate hikes spooks markets – The Denver Post

WASHINGTON — Wild volatility in the stock market this week has put heightened scrutiny on the Federal Reserve’s meeting Wednesday and whether the Fed will clarify just how fast it plans to tighten credit and potentially slow the economy. With high inflation squeezing consumers and businesses, the Fed is expected to signal that it will […]

Contact-free digital payments see big jump with Covid-19

SINGAPORE – More people are turning to digital payments amid Covid-19, with the volume of PayNow transactions set to far surpass that of last year. It has already hit $64 billion in value from January to October, well up on the $25 billion recorded in the same period last year, the Association of Banks in […]

China signals its discomfort over yuan rally with daily fixing

BEIJING (BLOOMBERG) – China’s central bank has signaled a limit to its tolerance for the yuan’s recent advance by setting its reference rate at a weaker-than-expected level. The gap between the daily fixing set by the People’s Bank of China and the forecast in a Bloomberg survey of analysts and traders was the largest since […]

China's bid to rival US as debt haven at risk after crackdowns

TORONTO (BLOOMBERG) – To a world full of fixed-income investors starved of safe assets with attractive yields, China’s government bonds had become a tempting sight in recent years. However, red flags are now being hoisted. A series of government crackdowns on everything from property developers to technology firms is triggering questions about whether a sudden […]

Choppy markets expected as Omicron unfolds and inflation persists

SINGAPORE – Inflation, rising interest rates, anaemic economic and jobs recovery, Omicron. The sum of all fears weighed heavily on the market last week, resulting in volatility not seen since August. The dismal November jobs report – where US non-farm payrolls increased by a mere 210,000 versus the 546,000 rise in October, combined with the […]

PSA to acquire US supply chain company BDP International

SINGAPORE (THE BUSINESS TIMES) – PSA International has agreed to acquire BDP International, a United States-based company providing supply chain, transportation and logistics solutions, both companies said on Wednesday (Dec 1). The port operator will acquire privately-held BDP International from New York-based private equity firm Greenbriar Equity Group LP, subject to formal approvals by the […]

Broken supply chains threaten ruin at growing number of small US firms

NEW YORK (BLOOMBERG) – A growing cohort of smaller companies that survived the cold depths of the Covid-19 pandemic say now they’re in danger because the economy is too hot. Mattress sellers, flooring manufacturers and makers of clean energy equipment are warning that stretched supply chains and runaway freight bills have pushed them to the […]

New Kranji facility attracts firms with high technical specifications

SINGAPORE – Beng Hock Mechanical Engineering will be moving next year into a new facility in Kranji, where the local company will implement new digital solutions projected to help it save between $150,000 and $220,000 annually. This will be accomplished through new warehouse management solutions as well as new enterprise resource planning (ERP) software, which […]

Singapore faces tough challenges in green financial hub ambitions

SINGAPORE – As the world economy gradually gets rewired for net-zero carbon targets, global financial centres such as Singapore face a formidable challenge to carve out a similar niche in the green future. Attracting new listings of green bonds in the local capital market is important but will not be enough for Singapore to become […]

China's export growth beats estimates in month of October

BEIJING (BLOOMBERG)- China’s export growth beat expectations in October as foreign demand for its goods continued to surge, despite global supply chain disruptions. Exports grew 27.1 per cent in dollar terms in October from a year earlier to US$300.2 billion (S$405.4 billion), data from the General Administration of Customs showed on Sunday (Nov 7). It […]