Subprime

Faint light at end of sub-prime tunnel?

But banks now have to deal with slowing economy A heart-thumping sub-prime ride for local banks may be nearing a halt after two quarters of hefty provisions for risky investments. But investors looking to banks repeating the double-digit earnings gain of recent years could be disappointed. A slowing economy is likely to put a squeeze on interest margins and earnings growth, suggesting 2008 could turn out...

Investment flows within ASEAN not affected by sub-prime crisis

The sub-prime crisis in the United States has not affected investment flows within ASEAN countries. Trade and Industry Minister Lim Hng Kiang who was responding to a question from MP for West Coast GRC Ho Geok Choo, in Parliament on Monday, said feedback from companies show interest within the region remains strong. As at 2006, the total foreign direct investment (FDI) from other ASEAN countries to...

recession? WHAT RECESSION?

The global market panic driving Tuesday’s United States Federal Reserve rate cut is rooted in the still controversial idea that the US economy has slipped into a recession. Many market participants now take it as an article of faith that the US economy is, or will soon be, in a contractionary phase of economic activity. Some even argue that as long as it “feels” like a recession, it is one. But that...

MM Lee uncertain how a possible US recession might affect Singapore

Singapore's Minister Mentor Lee Kuan Yew said he is not certain what impact a possible US recession will have on Singapore. Although it is not clear whether financial markets will take up to two years to recover from the ordeal, Mr Lee said he feels that China and India may provide some cushion for the slowdown in the US. Asian stock markets took a beating early this week amid mounting concerns of a...

PM Lee confident about Singapore’s economy

Singapore's Prime Minister Lee Hsien Loong said Singapore and Asia can weather the storm, should the US go into a recession. He made the comment at a breakfast meeting with 40 businessmen from the French Business Confederation as he wrapped up his three-day official visit to Paris. The financial markets in the West have been hit by the US sub-prime problems, and that in turn has affected Asia, including...

Citigroup allays fears of layoffs in Singapore

Citigroup has come out to clarify that Singapore will not be significantly affected by the group's global layoffs. At a news briefing on Friday, it said that as far as Singapore is concerned, it expects the attrition rate to stay normal. No bonus cuts are expected and staff will still be paid salary increments. Citigroup said that overall, Asia including Singapore is positioned for good growth. Like...

Say goodbye to the goblin … Sub-prime spook was exaggerated, could vanish by Halloween: Analyst

IT was the “goblin” that wreaked havoc on markets the world over but come Oct 31, investors may be celebrating Halloween for more reasons than one. The goblin that is the impact of the United States sub-prime mortgage problems could go away as early as then, and growth would return by year-end in time for Christmas, said Mr Ken Fisher, CEO of Fisher Investment. Saying the sub-prime spook had been...

Forget sub-prime woes, experts here still upbeat

WITH just four months to go before 2007 draws to a close, private-sector economists have given the economy the thumbs up, predicting that the Republic will power ahead with 7.5-per-cent growth this year. This is up from an estimate of 6 per cent in the last Monetary Authority of Singapore (MAS) survey in June. And next year, Singapore could enjoy economic growth of 6.5 per cent, up from a previous...

Who’s the spoiler?

Now that the fireworks are over, here comes a reality check. While the fanfare is over how a sparkling first half will lift the entire year’s economic showing — the Government announced on Friday that the GDP expanded by 8.6 per cent year-on-year in the second quarter — a growing monster halfway round the world is threatening to gatecrash Singapore’s party. The pundits call it the “United...

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