“The Singapore Government is set to present its Budget for 2012 to Parliament on February 17. In line with this, Biz Daily would like to hear your views on what you feel is relevant for Budget 2012. What items are in your wish list for Budget 2012? What do you wish to be offered to ...
Source: AFP The International Monetary Fund said Monday that Japan ought to triple its consumption tax to help bring down some of its huge debt. Japan’s current tax rate on consumption is only five percent, one of the lowest rates in the world, said Anoop Singh, the IMF chief for Asia. “It has been ...
by Jared Heng Slackening demand, market volatility and eurozone woes are starting to squeeze rapid-growth markets (RGMs), but not to the extent of derailing robust economic performance, according to Ernst & Young. Ernst & Young’s quarterly Rapid-growth Markets Forecast (RGMF) released on Thursday said RGMs are expected to grow collectively by 5.3 per cent this ...
Source: Reuters The World Bank warned developing countries on Wednesday to prepare for the “real” risk that an escalation in the euro area debt crisis could tip the world into a slump on a par with the global downturn in 2008/09. In a report sharply cutting its world economic growth expectations, the World Bank said ...
Source: Reuters Mazen Dajani, chief executive of Jordan’s CTI Group, said the Arab Spring accomplished what the global financial crisis of 2008-9 did not: it pushed his company, one of the world’s largest shippers of cement, into the red. CTI’s shipments to Egypt plunged during the uprising against Hosni Mubarak early last year and have ...
Source: AFP Warnings from Iran that it will try to close the vital Strait of Hormuz in response to further Western sanctions sent oil prices markedly higher on Tuesday. New York’s main contract, light sweet crude for February delivery rose US$1.66 from Friday’s close to reach US$101.34 a barrel. In London, Brent fetched US$109.27, ...
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Source: Bloomberg Saudi Arabia, the world’s largest exporter of oil, replaced its central bank head and economy minister as it presses forward with a record spending plan aimed at reducing unemployment and reliance on crude exports. Fahad al-Mubarak was appointed central bank governor, replacing Muhammad al-Jasser, who was named economy and planning minister, state run ...
Source: Reuters The looming new year may well bring as much financial turbulence as tumultuous 2011 but global investors reckon “panic” is no longer an option and just protecting your money will require taking on at least some risk. For all this year’s left-field shocks — the euro sovereign debt and banking minefield, an unprecedented ...
Source: AFP The eurozone debt crisis is cooling the global oil market rapidly but likely sanctions against Iran are holding prices up for now, the IEA said on Tuesday. The International Energy Agency again cut its forecast for growth of global demand for this year and next, sharply by about 200,000 barrels a day. And ...
