Philip Chua Business Blog

Archive for November, 2009

EVEN as a government-led panel prepares a blueprint for new ways to grow the economy, a think-tank has outlined what Singapore needs to do to remain competitive and relevant in the global marketplace.
Chief among the recommendations of the Asia Competitiveness Institute (ACI) is that businesses must address declining labour productivity levels by going beyond just getting workers to go for trainin… more

Instead they appointed Temasek unit ST Asset Management – a move backed by the independent directors – in a bid to revive the company’s flagging fortunes.

The move had been opposed by the previous manager, a unit of collapsed Australian investment bank Babcock & Brown, which fell victim to the financial crisis.

Babcock, the firm’s No. 1 shareholder with a 13.8 per cent stake, is in liquidat… more

A PROPOSAL to ban property agents from representing both the seller and buyer in the same transaction has generated strong public interest – with many giving the idea the thumbs up.
This practice, widespread in the HDB resale market, leaves the agent with a clear conflict of interest.
But there is likely to be resistance from some agents who stand to lose commissions if it is implemented.

The pr… more

A one-day preview at the upmarket Marina Bay Suites development saw invited buyers snap up most of the 90 units released for sale at average prices ranging from $2,200 to $2,500 per sq ft (psf).
At least 81 units were bought yesterday at the 99-year leasehold, 221-unit condominium in Marina Bay, whose launch had been delayed by almost two years, said a spokesman for Raffles Quay Asset Management, … more

A KIDNAP scam was thwarted by alert staff from a bank and a remittance company who promptly called the police on Monday afternoon.

Police said that the victim, a 55-year-old housewife, received a call at about 2.30pm while she was at home, from a male caller who spoke to her in Mandarin.

In the background, the victim said she heard what sounded like her 27-year-old son screaming for help befor… more

Stocks climbed Wednesday following a drop in weekly unemployment claims to the lowest level of the year and a rise in new home sales.







Business – Investing – Consumer spending – Labour economics – Economic data

In a hopeful sign for the economy, the number of newly laid-off workers filing claims for unemployment benefits fell below 500,000 last week for the first time since January.

Insurance – Jobless claims – Business – Financial Services – United States

Sales of new homes rose last month to the highest level in more than a year as strong activity in the South made up for weakness in the rest of the country.

Real estate – United States – Business and Economy – Guides and Directories – California

Consumers got back in the buying mood in October as their incomes grew modestly, an encouraging sign for the budding economic recovery.

Business – Wood and Plastics – Materials and Supplies – Construction and Maintenance – Heavy Timber Construction

Orders for big-ticket factory goods fell unexpectedly in October as the economy struggles to get back to full health.







FallFoliage – Recreation – Travel – Specialty Travel – Ecotourism