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Once again, we are ranked near the top of the table. But this time, it’s for raising electrical tariffs! HK electricity producer CLP Power released a media statement last month that included a table of 21 major cities ranked by how much electricity tariffs they have raised since 2005. Thanks to our formidable Singapore Power [...]
URA has released the Q3 2008 flash estimate of the price index for private residential property. It showed a decline of 1.8% – the first decline in 4 years. [Update 24 Oct: URA has released the full Q3 statistics - private residential property prices registered a decline of 2.4%, a bigger decline than what the [...]
The Straits Times Index peaked at 3,875.77 on 11 October 2007, exactly 364 days ago. Today, in the wake of an official technical recession, the STI index plunged to its new multi-year low, closing at 1,948.33. This is 50% from the peak. Will it go lower before it starts to creep up again? No one [...]
Read the full article at Stock Market Index Fell 50% from PeakIt’s official. Singapore is in recession, or “technical recession” to be precise. After 2 consecutive quarters – i.e. Q2 2008 and Q3 2008- of economic contraction, our economy is now in what economists call a technical recession. For the past 2 quarters, we achieved negative growth. As with all recessions, expect to witness more retrenchments, [...]
Read the full article at Singapore in Technical RecessionWhile markets around the world plunge into their multi-year lows, employees here and abroad worry about job security, and their families cope with rising prices, our all-loving number one telco is raising its residential subscription rates by 10%. SingTel CEO Allen Lew justified the increase, saying: “Manpower costs in the last ten years alone have [...]
Read the full article at SingTel Raises Subscription Price by 10%Hong Kong’s largest electricity producer, CLP Power, is reducing electrical tariff by 3%, as reported by Hong Kong news media such as this article in The Standard. Yes, reducing, not increasing. Yet, people in HK are complaining. They were expecting a bigger cut! “The Democratic Party’s Fred Li Wah-ming said he was disappointed by the [...]
Read the full article at HK Electricity operator cuts price of electricity by 3%. What about Singapore?Property prices in Hong Kong nosedived 10% in the past 3 months, and are likely to drop a further 10% by year end. You heard it right – a 20% decline in HK housing prices. This is according to a report from HK China News Agency (see Zaobao.com article). A $1m house will now sell [...]
Read the full article at Hong Kong Property Prices Plunged
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