Singapore Property and Real Estate News Portal

NEW YORK – Merrill Lynch & Co said on Friday that the majority of its best-performing financial advisors will join Bank of America Corp (BOA) when that bank buys Merrill at the end of the year. More than 6,200 advisors accepted a retention package offered by BOA that was targeted at the top-producing brokers, a [...]

HONG KONG – Hong Kong is heading for a record HK$80 billion (US$10.3 billion) budget deficit for 2008/09 after offering tax concessions and handouts and as a weakening economy depresses public revenues, Deloitte forecast on Thursday. Analysts say Hong Kong’s economy is heading for recession within the next six months, after four years of robust [...]

One billion Asians affected by surging food prices Posted: 01 May 2008 0026 hrs MADRID : One billion people in Asia are seriously affected by surging global food prices, the director general of the Asian Development Bank, Rajat Nag, said on Wednesday. “This includes roughly about 600 million people who live on just under a [...]

Strengthening Singapore dollar helps to manage rising costs By Lynda Hong, Channel NewsAsia | Posted: 20 April 2008 1929 hrs SINGAPORE: Strengthening Singapore dollar has helped to manage rising costs as Singapore is dependent on imports, said Defence Minister Teo Chee Hean at a Pasir Ris-Punggol GRC event on Sunday. At the same time, he [...]

S’pore’s rice supplies safe despite export restrictions By Hoe Yeen Nie, Channel NewsAsia | Posted: 19 April 2008 1939 hrs SINGAPORE: Singapore’s rice supplies are safe even as global rice exporters such as Thailand impose export restrictions. This assurance came from Senior Minister of State for Trade and Industry, S Iswaran who added that Thailand [...]

Online hawker food price guide to be introduced in May By Channel News Asia | Posted: 18 April 2008 2210 hrs SINGAPORE: An online hawker food price guide will soon be available to give customers a comparison guide. The guide, to be put up in May by the Consumers Association of Singapore (CASE), will offer [...]

Chinese Premier Wen calls for stronger efforts on inflation Posted: 17 April 2008 1709 hrs BEIJING : Chinese Premier Wen Jiabao has called for stronger efforts to rein in soaring food and other prices after the release of data showing inflation at near 12-year highs, state press reported Thursday. Wen said more must be done [...]

Oil prices hit record high US$115.45 per barrel Posted: 17 April 2008 1736 hrs LONDON : The price of New York crude oil hit a record high 115.45 dollars on Thursday, boosted by falling US energy reserves and a weak dollar that attracts investors into commodities, analysts said. New York’s main oil futures contract, light [...]

China food costs soar, Philippines unveils plan Posted: 16 April 2008 2110 hrs MANILA – The Philippines announced Wednesday it would spend one billion dollars to increase rice production, while China said food prices were up 21 percent in the face of a deepening global food crisis. With public anger spilling over into unrest in [...]

Food prices up but not expected to spike sharply By Wong Mun Wai, Channel NewsAsia | Posted: 16 April 2008 1809 hrs SINGAPORE : The prices of some food items are up because energy and commodity prices have risen. But according to Senior Minister of State for National Development and Education Grace Fu, prices are [...]