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Summary of URA’s New Regulations on Singapore Property Market

The recent measures on 14 Jan 2011¬†imposed by the Singapore government had taken to ensure that the property market is sustainable has been pretty drastic.¬† Check out the new regulations here. ¬† A Summary of URA’s regulations: 1. Holding Period for Seller’s Stamp Duties from 3 years to 4 years 2. Seller’s Stamp Duties imposed […]

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Aussie Q4 growth at lowest pace in a year

(SYDNEY) Australia’s economy grew at the slowest pace in more than a year in the fourth quarter as construction declined and bottlenecks at ports cut exports. Gross domestic product rose 0.6 per cent from the third quarter, when it increased a revised 1.1 per cent, the Bureau of Statistics said yesterday. The gain matched the […]

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2008 not necessarily like 2007: UBS

(ZURICH) UBS AG does not expect 2008 to be a year like 2007, when the Swiss bank wrote down US $18 billion in bad credits and posted the first loss since its creation, its chief executive was quoted as saying yesterday. ‘I view the environment as difficult due to great uncertainties related to the US […]

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IMPROVING OUTLOOK: UBS expects this year to be a better one

ZURICH – UBS does not expect this year to be like the last, when the Swiss bank wrote down US$18 billion (S$25.5 billion) in bad credits and posted the first loss since its creation, its chief executive officer (CEO) was quoted as saying yesterday. ‘I view the environment as difficult due to great uncertainties related […]

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Taxes to be cut despite rising inflation: Rudd

Govt is optimistic about growth prospects: minister (SYDNEY) Australian Prime Minister Kevin Rudd said the government will go ahead with promised tax cuts, even as inflation rises at the fastest pace in 16 years. ‘There will be absolutely no change to people having tax cuts to take as additional income,’ Mr Rudd said on the […]

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Soros warns of worst financial crisis since WWII

(VIENNA) Billionaire investor George Soros said the world was facing the worst financial crisis since World War II and the United States was threatened with recession, according to an interview by the Austrian daily Standard. ‘The situation is much more serious than any other financial crisis since the end of World War II,’ Mr Soros […]

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Recession in US, Europe could shake Asia, S’pore

Region still relies heavily on world’s biggest markets, say economists A RECESSION in the United States and Europe would badly hurt Asian economies, including Singapore’s, which still rely heavily on these two export markets for growth, according to economists. Indeed, analysts at Lehman Brothers believe economic growth in Singapore could slump to as low as […]

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Australia caught in Asian boom and US bust

PM Rudd vows to cut govt spending among other plans to curb inflation SYDNEY – BOOM in Asia and bust in the United States are buffeting Australia’s economy, Prime Minister Kevin Rudd warned yesterday as he outlined plans to rein in inflation. ‘The most pressing economic challenge domestically is inflation,’ he told a meeting of […]

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Developing nations to lift world economy amid US slowdown

They will be the biggest drivers of global growth as pace slows to 3.3% this year: World Bank DEVELOPING nations will be key in helping the global economy mitigate the drag from a slowing United States. With their domestic economies coming into their own, poor countries will be the world’s biggest growth driver this year, […]

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Bombs, security fears mar revelry as world greets 2008

(NEW YORK) Millions staged midnight parties at iconic landmarks around the world to ring in 2008, but bomb attacks and security fears quickly darkened New Year festivities in places. In New York, hundreds of thousands of revellers crowded the fabled Times Square, braving cold temperatures and stringent security measures to see Mayor Michael Bloomberg release […]

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Global economy facing threat of stagflation

Growth may slow to 4-year low and inflation could hit 10-year high WASHINGTON – THE world economy is facing the risk of stagflation – the double whammy of suffering both recession and faster inflation. Global growth this quarter and next may be the slowest in four years, while inflation might be the fastest in a […]

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IMF expects to lower global growth outlook

(ZURICH) The International Monetary Fund will lower its growth outlook as the continued credit crisis hurts the US and European economies, while global imbalances also weigh on growth, its top economist was quoted as saying. ‘Given this background, the numbers will indeed be weaker than in our latest World Economic Outlook,’ IMF chief economist Simon […]

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Aussie trade deficit widens to A$2.98b

Oct shortfall due to soaring Aussie $, port congestion dampening exports (SYDNEY) Australia’s trade deficit unexpectedly widened in October as a surge in the nation’s currency and bottlenecks at ports disrupted exports of minerals and coal. The shortfall expanded to A$2.98 billion (S$3.82 billion) from a revised A$1.92 billion in September, the Bureau of Statistics […]

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