Archive | November 23, 2007

US credit crunch – will history repeat itself?

IT was about two months ago on Sept 18 that the US Federal Reserve cut its short-term lending rate by 50 basis points to 4.75 per cent, sparking a worldwide rally in relieved stock markets. After a rise that lasted about two weeks, however, the rally then stalled. This was followed by a 25 basis […]

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No deep recession in the US, going by consensus forecasts

WHEN the respected Business Times of Singapore takes a stick to the World Bank’s humble East Asia and Pacific Update (‘World Bank’s analysis wide of the mark’, BT, Nov 20) , I sit up and take notice. What a pity, then, that your editorial, while high on sound and fury, adds little worth to either […]

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Lower US forecast again prompts flight to safety

FRIGHT turned to flight once again in financial markets yesterday, when overnight news of a lowered Fed US growth forecast for 2008 spawned yet more painful losses for Asian equities, punished favourite high-yield carry trades, but lifted the euro and Swiss franc to record highs again. Overnight, it was revealed that the US central bank’s […]

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Asia must act quickly on monetary cooperation

TOKYO CORRESPONDENT THE US dollar is on the skids and it is time for Asia to put on its skates with regard to regional monetary cooperation. The connection between the two things should be obvious, although many Asian policymakers (including those in Japan who see themselves as leaders of the pack) continue to utter facile […]

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ECs gain appeal as HDB, private home price gap widens

Easing of rules expected to increase demand for exec condos THE rising property market has brought executive condominiums (ECs) back from the brink of extinction. These homes – which are halfway between public housing and private condominiums – suddenly looked much more appealing after rules for buyers were relaxed on Tuesday. Property consultants now expect […]

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S’pore has fastest-growing prime office rents in the world: Report

It outpaces Mumbai as rents, occupancy costs rise 83% to $12.60 psf a month PRIME office rents have grown faster in Singapore than anywhere else in the world over the past year, a new report has found. The rate of increase beat even that in Mumbai, now the world’s second most expensive office market, after […]

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Five estates sold to one buyer in collective deal

FIVE small adjoining freehold apartment blocks near Thomson Road have been sold en bloc to Kim Seng Heng Realty, a subsidiary of listed KSH Holdings, for $120 million. The construction and property development group said yesterday that the combined site could be redeveloped into a high-rise residential block with about 142 luxury apartments of 1,250 […]

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TAKING STOCK – Bourses buckle across Asia on US, oil worries

ST Index falls 91 points, marking its fourth slump in five sessions REGIONAL bourses including Singapore suffered a rout yesterday in the face of fresh worries about a slowdown in the United States and record crude oil prices. The Straits Times Index (STI) plunged 91.07 points, or 2.65 per cent, to end at 3,347.20 – […]

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Dow down 163 points

UNITED States stocks plunged in early trading on fears that the fallout from credit losses and mortgage defaults will hurt economic growth. After two hours of trading, the Dow Jones Industrial Average was down 163.14 points or 1.2 per cent at 12,847. The Standard & Poor’s 500 Index fell by 20.3 points, or 1.4 per […]

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