Singapore Property and Real Estate News Portal

Industry watchers say tech sector to face grim third quarter By Rachel Kelly, Channel NewsAsia | Posted: 30 May 2008 2247 hrs SINGAPORE: Exports to the US have taken a hit amid the ongoing sub-prime mortgage crisis in the US. And the tech sector, in particular, has been seeing sluggish sales. But analysts said that [...]

Singapore’s sovereign credit rating remains stable By Pamela Almeda, Channel NewsAsia | Posted: 30 May 2008 2325 hrs SINGAPORE: International ratings agency, Moody’s, said it has no immediate plans to review its sovereign credit rating for Singapore as the country has strong credit fundamentals, including robust external assets. Singapore has the highest triple-A sovereign rating [...]

World oil prices rebound Posted: 29 May 2008 0440 hrs NEW YORK: World oil prices rebounded to around 131 dollars per barrel on Wednesday, reversing earlier losses in volatile trade amid lingering worries about stretched energy supplies, analysts said. Prices gained as British Prime Minister Gordon Brown warned the world was facing a “great oil [...]

US economic growth revised higher to 0.9% pace Posted: 29 May 2008 2258 hrs WASHINGTON: US economic momentum posted a 0.9 percent annual growth pace in the first quarter of the year, the government said on Thursday in a report which calmed the nerves of some economists. In its initial revision of first quarter gross [...]

20 firms pledge to give one-off payout to help workers cope with inflation By Wong Siew Ying, Channel NewsAsia | Posted: 29 May 2008 1946 hrs SINGAPORE: About 20 companies have decided to adopt the National Wages Council’s recommendation to give their rank-and-file employees a one-off lump sum payment to help them cope with inflation. [...]

Pacific Star increases stake in Prime REIT to 50% Posted: 29 May 2008 2102 hrs SINGAPORE : Singapore-based real estate investment house Pacific Star Group has agreed to buy the 25 percent stake held by MEAG Munich Ergo Asset Management in Prime REIT Management Holdings. Prime REIT owns 100 percent of listed Macquarie Pacific Star [...]

Singapore proposes establishment of City Biodiversity Index By Wong Siew Ying, Channel NewsAsia | Posted: 29 May 2008 2218 hrs SINGAPORE : Singapore has proposed the creation of a “City Biodiversity Index”, and National Development Minister Mah Bow Tan said this will help cities evaluate progress in reducing biodiversity loss. Mr Mah was addressing delegates [...]

US stocks surge as oil prices fall Posted: 28 May 2008 0543 hrs NEW YORK: US stocks closed in positive territory on Tuesday as oil prices fell sharply from last week’s record highs above 135 dollars a barrel, providing a respite to rising inflation concerns. The Dow Jones Industrial Average advanced 68.72 points (0.55 percent) [...]

Oil prices tumble from record heights Posted: 28 May 2008 0425 hrs NEW YORK: Oil prices tumbled further from recent record peaks on Tuesday as traders sold off positions amid growing fears about energy US energy demand, analysts said. They said a report showing a slump in US consumer confidence, marking the largest such fall [...]

US dollar gains despite falls in US confidence, home prices Posted: 28 May 2008 0622 hrs NEW YORK: The US dollar gained against the euro and other major currencies on Tuesday, lifted by lower oil prices as the market shrugged off a weak reading on US consumer confidence and falling home prices. The single European [...]