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Expats in Singapore, Hong Kong watch with envy as world opens up

Singapore and Hong Kong, among the world’s most open economies, have practically shut their doors for more than a year to keep Covid-19 in check. But as US and Europe emerge from the pandemic, the cities’ businesses and…

Global home prices rise most since 2006, fueling bubble concerns

Housing prices worldwide are rising the most since before GFC, following a market frenzy seen in places from New Zealand to Canada to Singapore during the pandemic. Average prices jumped 7.3% in the 12 months to Mar, the…

Big tech drawn to new Singapore carbon offset trading market

Some of the world’s largest tech corporations – from Google to Microsoft and Amazon – are in talks with a new carbon offset trading platform in Singapore that would be among the first to be backed by a…

Amazon leads tech invasion of Singapore offices that banks ruled

In the financial mecca of Singapore, a new crowd is flocking to its offices: technology companies. Steadily growing their footprint in recent years, tech behemoths are chipping away at the dominance of banks in the island-state’s CBD. Exemplifying…

The super rich are choosing Singapore as the world’s safest haven

When Singaporean car dealer Keith Oh first read the FB message, he wasn’t sure it was real. A Chinese client ordered a S$1.1 million Bentley—sight unseen—over the social network. “They just asked for the price and when we…

Singapore’s richest property family warns of cooling measures

The Singapore government may step in to introduce property curbs if home prices keep rising, according to the city-state’s richest property family, marking the first time a developer has waded in on the issue. City Developments Ltd Chairman…

Standard Chartered considers slashing Singapore office space

StanChart is weighing options to downsize its office space in what could become the biggest floor cuts by a bank in Singapore in recent years, according to people familiar with the matter. The London-based bank is weighing options…

Crunchtime for cash at Singapore’s famed hawker food stalls

Singapore officials trying to digitize the economy are targeting a tricky group of holdouts: elderly vendors who run the country’s famed hawker stalls. Most of these stalls have been cash-only businesses though, and that’s part of the challenge…

Singapore is now the world’s best place to be during covid

The Covid-19 news from Apr is a mixed bag. While the world topped one billion doses of vaccines administered in an unprecedented global effort, virus variants are challenging the fight and driving overall infection levels to fresh records.…

Blackstone eyes more Singapore property after $132 million deal

Blackstone Group is seeking to invest in more properties in Singapore to capitalize on rising demand for office space among technology firms expanding in the city-state. The plans come after the US private equity firm announced that it’s…

Singapore keeps dorm migrants segregated even as covid abates

It’s been a year since migrant workers in Singapore were confined to dormitories to prevent an outbreak of Covid-19 in their ranks from spreading across the island. Now, weeks after new cases among the labourers dropped to almost…

Singapore dealer prepares vault for 15,000 tons of silver

Inside a six-story high warehouse near Singapore’s Changi airport, a vast hangar-like space is waiting to be filled with a precious metal that usually plays second fiddle to its more lustrous sibling. The vault that’s being built by…

Singapore’s biggest bank to cut office space in home market

DBS Group is poised to trim office space in Singapore, the latest bank to pare its footprint in the city-state during the coronavirus pandemic. SEA’s largest bank plans to surrender about two and half floors, or 75,000 sqft,…

Singapore minister warns home buyers about rising rates

Singapore’s government is warning home buyers to think carefully about purchasing properties as interest rates increase in tandem with those in US, potentially boosting debt servicing costs. “The risk of rising interest rates is a reminder that everyone…

Singapore property dynasty’s China deal is a cautionary tale

When Singapore’s richest property family invested in a Chinese real estate group, the deal was touted as “game-changing” for its expansion in Asia’s largest economy. Almost a year later, it has instead become a cautionary tale for firms…

Singapore’s public housing prices soar as frenzy grips market

Million-dollar price tags on a record number of Singapore’s public housing sales are a sign the city-state is joining the frenzy gripping property markets from Hong Kong to Toronto. Twenty-three resold government-subsidized flats were purchased for at least…

KKR-backed PropertyGuru weighs U.S. listing via SPAC

PropertyGuru (PG), the Singaporean online real estate firm backed by private-equity firms KKR & Co. and TPG Capital, is considering a US listing through a merger with a special purpose acquisition company, according to people familiar with the…

Singapore minister flags risks of low rates on property market

Singapore’s DPM warned that low-interest rates can lead to distortions in asset prices, amid speculation that the government may take fresh steps to cool the housing market. “The interest rates today are ultra-low, and in some cases even…

No festive bump for Singapore restaurants over Lunar New Year

Singapore restaurant owners face a gloomy Lunar New Year, with Covid-related interruptions signalling that even countries with a good handle on cases will suffer until the pandemic is under control globally. A labor-supply crunch in the F&B sector…

Singapore sees people travelling this year as vaccines roll out

Countries could relax border controls and allow more travel if there’s a set of standards for vaccine certification that immigration authorities can use to help determine entry policies, Singapore Transport Minister Ong Ye Kung said. “That is really…

Singapore property firms face setback as workers stay home

Singapore’s battered property firms are hitting a snag in their recovery after rising coronavirus infections led to an extension of remote work in the city-state. Shares of commercial developers and REITs have fallen since authorities announced last month…

Foreign buying of Singapore private homes hits 17-year low

Foreigners snapping up private apartments in Singapore declined to a 17-year low in 2020 as travel restrictions and lockdowns during the coronavirus pandemic deterred them from coming to the city-state. Purchases of units fell to 742 last year,…

Scion of Singapore’s richest family strives to salvage China deal

Pressure is mounting on an heir to Singapore’s biggest family fortune as he seeks to salvage the troubled property investment at the centre of an ambitious expansion into China. In the past month, Sherman Kwek, the 45-year-old CEO…

JPMorgan’s new Singapore home still trying to find tenants

Three years ago, it was touted as a development that would rejuvenate Singapore’s CBD. But an upcoming building in the city-state could have fallen victim to the pandemic, which has upended the office market as work from home…

Singapore may act to stall rising home prices, analysts say

Singapore may be considering another round of measures to cool residential prices, according to market analysts, who see recent ministerial remarks as a signal for the possible move. Comments made by the city-state’s DPM indicate the government is…

Blackstone buying Lucasfilm Singapore facility for $132 Million

Blackstone Group is looking to purchase Lucasfilm’s building in Singapore for about S$175 million, according to people familiar with the matter. The company has started the process of buying the building known as The Sandcrawler, pending regulatory approval,…

Singapore Changi reinvents itself for return of business travel

Singapore’s Changi Airport, routinely voted the world’s best and a key part of the city-state’s psyche, is reinventing itself for the Covid era and beyond. In a bid to keep people engaged until life returns to normal, it’s…

Singapore’s Changi gets ready with tons of dry ice for vaccines

In balmy Singapore, a tiny island nation that sits almost directly on the equator, it’s usually flowers, meat and seafood that gets whipped away into SATS Ltd’s cool rooms upon landing at Changi Airport. Now one of the…

Singapore Port in advanced talks for Lim family’s terminal stake

Singapore’s state-backed operator Jurong Port is in advanced talks to buy a stake in a petroleum storage hub from the family behind collapsed oil trader Hin Leong Trading according to people with knowledge of the situation. The deal…

Singapore set to have flying electric taxi service by 2023

Singapore is set to host the world’s first electric-powered air taxi service by the end of 2023, according to Volocopter GmbH, which is developing the vertical-takeoff craft. The German manufacturer is committed to starting operations within three years…

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