Tag: Singapore

Singapore’s economy disappoints in Q2

Singapore’s economy disappoints in Q2

July 14, 2011 More
Standard Chartered in GE Singapore purchase

Standard Chartered in GE Singapore purchase

London-based emerging markets bank, Standard Chartered, has purchased GE Moneya��s specialist car and personal loans business in Singapore. The deal will further strengthen the Asia-focused banka��s operations in Singapore. While financial details were not disclosed, sources close to the transaction said the bank was paying a�?just undera�? one billion Singaporean dollars. The acquisition will be […]

January 24, 2011 More
Singapore announces record economic growth

Singapore announces record economic growth

The Singapore economy grew at a record pace in 2010, driven by a sharp rise in manufacturing activity, official figures have revealed. The economy expanded by 14.7% last year – performing strongly after a 1.3% contraction in 2009 and cementing its position as the fastest growing Asian economy in 2010. The economy grew by 12.5% […]

January 3, 2011 More
Islamic finance to outpace conventional banking

Islamic finance to outpace conventional banking

Islamic finance is set to grow at double the pace of the conventional banking sector, Singapore’s finance minister has claimed. Lim Hung Kiang said he expects the sector to break through the $1 trillion mark in total assets by the end of 2010. Speaking yesterday at the World Islamic Banking Conference Asia Summit in Singapore, […]

China’s economic growth surges ahead

China’s economic growth surges ahead

China’s economy, which is the worlda��s third largest, expanded at an annualised rate of 11.9% in the first three months of the year. The news comes just a day after the Trade and Industry Ministry announced that Singaporea��s economy saw first quarter annualised growth of 32.1% a�� compared with a 2.8% fall in the previous […]

Singapore economic growth surges ahead

Singapore economic growth surges ahead

The Trade and Industry Ministry today announced that Singaporea��s economy saw first quarter annualised growth of 32.1% – compared with a 2.8% fall in the previous quarter. According to the Ministry, the growth was driven by manufacturing activity and the central bank has therefore raised its 2010 growth forecast to between 7% and 9%. The […]

Hong Kong exits recession

Hong Kong exits recession

Hong Kong has emerged from recession after the economy grew 3.3% in the second quarter. The seasonally adjusted 3.3% compares with a revised contraction of 4.3% for the first quarter of the year. The news follows that of Singapore, France and Germany, who have also emerged from recession. Singaporea��s economy grew an annualised 20.7% in […]

China reports GDP for Q1

China reports GDP for Q1

The National Bureau of Statistics (NBS) has revealed that Chinaa��s economy slowed to 6.1% in the first three months to the end of March – the weakest growth since quarterly records began over 16 years ago. In the last three months of 2008, growth was 6.8% and Chinaa��s Government is hoping to achieve annual growth […]

Singaporea��s poor GDP results suggest bad news for Asiaa��s export-dependent economies

Singaporea��s poor GDP results suggest bad news for Asiaa��s export-dependent economies

The Ministry of Trade and Industry (MTI) has revealed that Singapore’s economy contracted by 19.7% for the January to March period – the largest quarterly contraction on record. The MTI said the economy’s performance was much worse than expected and comes despite efforts of boosting economic activity, following the countrya��s A?8.6 billion stimulus package, announced […]