Singapore Property and Real Estate News Portal

US income, spending up 0.2% in April Posted: 30 May 2008 2239 hrs WASHINGTON : US consumer spending and incomes both rose 0.2 percent in April, data showed Friday, suggesting sluggish growth in the world’s biggest economy is continuing. The report, in line with analyst forecasts, indicated a slowdown from March when spending rose 0.4 [...]

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 [...]

Oil eases below US$124 a barrel Posted: 13 May 2008 1125 hrs SINGAPORE : World oil prices eased further on Tuesday, trading below 124 dollars a barrel as a firmer dollar encouraged profit-taking in a market that remains well-supported, analysts said. New York’s main oil futures contract, light sweet crude for June delivery, was 37 [...]

Concern mounts as oil price nears US$120 Posted: 23 April 2008 1051 hrs SINGAPORE – International concern mounted as world oil prices edged closer to US$120 a barrel Wednesday and the world’s top producer called for calm. Analysts said a weakening US dollar, supply worries in Nigeria and the OPEC cartel’s reluctance to increase output [...]

UBS still faces risk from sub-prime crisis, says CEO Posted: 23 April 2008 1943 hrs BASEL, Switzerland : UBS, the biggest Swiss bank, warned on Wednesday that it still faced some risk from the US sub-rime crisis after wracking up losses exceeding 37 billion dollars (23.4 billion euros). Shareholders are gathered here for the annual [...]

US dollar weakens on renewed credit fears Posted: 22 April 2008 0519 hrs NEW YORK: The US dollar traded mainly lower on Monday as worse-than-expected earnings from Bank of America renewed concerns about the strength of US financial markets, traders said. Market participants focused more heavily on financial market news amid a lack of US [...]

ECB board members warn on inflation and interest rates Posted: 22 April 2008 1825 hrs BERLIN : European Central Bank governing council member Yves Mersch is surprised that analysts still expect a cut in eurozone interest rates, according to a newspaper interview released on Tuesday. Meanwhile the head of the French central bank warned that [...]

UBS explains huge sub-prime losses in 50-page report Posted: 21 April 2008 1848 hrs ZURICH: Switzerland’s biggest bank UBS said on Monday that weak risk control and a pay structure that invited risky deals were among key factors leading to its massive sub-prime-related losses. A 50-page report to shareholders, a summary of a document the [...]

GIC says world could be facing worst recession in 30 years By Ng Baoying, Channel NewsAsia | Posted: 21 April 2008 1311 hrs SINGAPORE: The world could be facing its worst recession in 30 years, said Deputy Chairman and Executive Director of the Government of Singapore Investment Corp (GIC) Dr Tony Tan. He shared this [...]

AT&T to slash about 4,500 jobs Posted: 19 April 2008 0120 hrs WASHINGTON: US telecommunications giant AT&T Inc. said Friday it will reduce its workforce by 1.5 percent, primarily among management employees, as part of its plan to streamline operations. The company said it expects to take a pre-tax charge of 374 million dollars during [...]