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☆ Asia markets poised to fall ahead of central bank decisions from Japan and Australia
▼ + stars: | 2024-03-19 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Kazuo Ueda, governor of the Bank of Japan (BOJ). Asia-Pacific markets were set to fall ahead of central bank monetary policy decisions from the Bank of Japan and the Reserve Bank of Australia. All eyes will be on the BOJ amid expectations that the central bank could end its negative interest rate policy after 17 years. Economists polled by Reuters expect the central bank to raise its rates to 0% from the current -0.1%. Separately, the RBA is forecast to hold its benchmark interest rate at 4.35% for its third meeting in a row.

Persons: Kazuo Ueda Organizations: Bank of Japan, Reserve Bank of Australia, Reuters Locations: Asia, Pacific

The Bank of Japan (BOJ) headquarters is seen beyond the cherry blossoms in Tokyo on March 20, 2023. Asia-Pacific markets were set for a mixed open Monday as investors brace for a week of central bank meetings. The U.S. Federal Reserve will start its Federal Open Market Committee meeting on Tuesday. A Reuters poll of economists is expecting the Fed to hold its benchmark interest rates steady at 5.25% to 5.5%. In Asia, the Reserve Bank of Australia is expected to keep its cash rate steady at 4.35% when it concludes its meeting on Tuesday.

Organizations: Bank of Japan, U.S . Federal Reserve, Open, Reserve Bank of Australia, Bank of England Locations: Tokyo, Asia, Pacific, Europe

☆ Apple is reportedly in talks to license Google's Gemini for generative AI on iPhones
▼ + stars: | 2024-03-18 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

(Photo by Lionel BONAVENTURE / AFP) (Photo credit should read LIONEL BONAVENTURE/AFP via Getty Images)Apple is reportedly in talks with Google to let the iPhone maker license and build its Gemini artificial intelligence engine into the iPhone, according to a Bloomberg report. Gemini is Google's suite of generative AI tools, which ranges from chatbots to coding assistants. Apple could launch the iOS 18 — its latest operating system for the iPhone — at its Worldwide Developer's Conference in June. Apple also recently held discussions with OpenAI and has considered using its model, according to the people cited by Bloomberg. However, the report said "the two parties haven't decided the terms or branding of an AI agreement or finalized how it would be implemented."

Persons: Lionel BONAVENTURE, LIONEL BONAVENTURE, OpenAI, haven't Organizations: Google, Facebook, Apple, Getty, Bloomberg, Worldwide Developer's Conference Locations: Paris, AFP

☆ 2 experts suggest these 8 side hustles to try this year if you're looking to make money outside your job
▼ + stars: | 2024-03-16 | by ( Madison Hoff | ) www.businessinsider.com time to read: +10 min

AdvertisementSide hustles can include building a profitable business, spending a few minutes on an online gig like survey work, or working a job that falls outside your typical 9-to-5. AdvertisementPet sitting or other kinds of care workAnother side job could be watching someone's pets or care-related side hustles. AdvertisementFood deliveryThere are several food delivery platforms people can try as a side job, such as Uber Eats. "You may be really passionate about art or that creative side, but that's not something that you do in your day job," Caban said. Have you made money from a side job or a side hustle?

Persons: Instawork's Kira Caban, Ted Rossman, —, Kira Caban, it's, Gen Zers, Rossman, Caban, Davis, Taylor Swift, Scott, Meghan Lim, Lim, Uber, Erin Couch, Couch Organizations: Service, Instawork, Business, BI, Baseball, Connect Locations: Nashville

☆ Asia markets set to fall after hot U.S. inflation report; first estimates from Japan's wage negotiations expected
▼ + stars: | 2024-03-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A man walks past the People's Bank of China (PBOC) building on July 20, 2023 in Beijing, China. (Photo by Jiang Qiming/China News Service/VCG via Getty Images China News Service | China News Service | Getty ImagesAsia-Pacific markets were set to fall after producer prices in the U.S. grew faster than expected in February, coming in at 0.6% last month. Excluding food and energy prices, core PPI climbed 0.3% in February. Economists polled by Dow Jones had expected a 0.3% gain for headline PPI and a 0.2% increase for the core reading. Investors in Asia will be watching out for any news from Japan's spring wage negotiations, with first estimates expected to come out later in the day.

Persons: Jiang Qiming, Dow Jones Organizations: People's Bank of China, China News Service, Getty Images China, Service, Getty, PPI, Nikkei, People's Bank of Locations: Beijing, China, Asia, Pacific, U.S, Chicago, Osaka, People's Bank of China, Australia

☆ At 23, she landed a job at a 3-star Michelin restaurant. Less than 2 years later, she left to run a food stall in Singapore.
▼ + stars: | 2024-03-14 | by ( Marielle Descalsota | ) www.businessinsider.com time to read: +9 min

Shanice Lim left a Michelin-starred restaurant to run a hawker stall in Singapore. She decided to follow in her grandmother's footsteps and run her own hawker stall. nasi lemak stall in singapore Marielle Descalsota/Business InsiderLim said her efforts have paid off and that she now has a base of customers who don't hesitate to pay SG$5 for her nasi lemak. I wanted to put my brand out there so everyone could have good nasi lemak," Lim said. There isn't much money to be made running a hawker stall.

Persons: Shanice Lim, Lim's, —, Shanice, Lim, Lim's nasi lemak, Marielle, nasi lemak —, Khir Johari, hawker, KF, it's, It's, nasi lemak, Seetoh, nasi, she's, Elizabeth Chan, lemak, Chan, har, wasn't Organizations: Michelin, Service, Culinary Institute of America's, hawker, Business, SG, National Environmental Agency, NEA, Singapore Food Agency, singapore Marielle Locations: Singapore, Culinary Institute of America's Singapore, Singapore —, European, Zen, Malay, lemak, Bedok, hawker, Urban, New York City, nasi lemak, singapore

☆ Asia markets set for mixed open as Wall Street rally falters; India wholesale inflation on deck
▼ + stars: | 2024-03-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Beautiful and colorful aerial view of Mumbai skyline during twilight seen from Currey Road, on February 16, 2022 in Mumbai, India. Pratik Chorge | Hindustan Times | Getty ImagesAsia-Pacific markets are set for a mixed open after Wall Street's tech-fueled rally dissipated, with Nvidia falling 1.1%, Meta slipping 0.8% and Apple dropping 1.2%. On Thursday, investors will assess India's wholesale inflation, while also monitoring any news coming out of Japan's spring wage negotiations. Japan's wage negotiations wrapped up on Wednesday, with the first overall estimate due out on Friday. Japan's Nikkei 225 is set to fall following these reports as markets price in the possibility of the BOJ tightening policy.

Persons: Pratik Organizations: Hindustan Times, Getty, Nvidia, Apple, Bank of Japan, Japan's Nikkei Locations: Mumbai, India, Asia, Pacific, Chicago, Osaka, Australia

☆ Singapore bumps up 2024 GDP forecast on manufacturing growth; lowers headline inflation outlook
▼ + stars: | 2024-03-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Singapore's economy expanded by a slightly more modest pace than initially expected in 2023, as manufacturing activity contracted and services growth slowed. Singapore's economy in 2024 is forecast to grow faster than estimated earlier, while the outlook for inflation has been revised lower, the Monetary Authority of Singapore's survey showed Wednesday. The survey of forecasters has pegged this year's growth at 2.4% and headline inflation at 3.1%, compared with the December survey's estimates of 2.3% GDP growth and inflation at 3.4%. Singapore's manufacturing sector — which makes up over 20% of the country's GDP — is now expected to grow at 4% in 2024, up from 2.3%. While economists raised their forecasts for the manufacturing, finance and insurance, and construction sectors, the outlook for the wholesale and retail trade, as well as accommodation and food services sectors was revised lower.

Organizations: Monetary Authority Locations: Singapore

☆ Asia markets set for positive open after U.S. stocks jump on inflation data
▼ + stars: | 2024-03-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Commercial and residential buildings are illuminated at dawn in Seoul, South Korea, on Saturday, Oct. 21, 2023. Asia-Pacific markets were mostly set to rise after Wall Street jumped overnight, following U.S. inflation data that largely met expectations. February U.S. consumer price index climbed 0.4% on the month and 3.2% year over year, the Bureau of Labor Statistics said on Tuesday. Economists polled by Dow Jones had forecast a 0.4% increase month on month and 3.1% year over year. Core inflation, which strips out food and energy from the headline reading, climbed 0.4% in February, compared to a forecast gain of 0.3%.

Persons: Dow Jones Organizations: Wall, of Labor Statistics Locations: Seoul, South Korea, Asia, Pacific

☆ Asia markets set for mixed open ahead of Japan's corporate inflation; Nikkei poised to slide further
▼ + stars: | 2024-03-12 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

People commuting to work in the morning cross a pedestrian crossing in Tokyo on February 15, 2024. Asia-Pacific markets are set for a mixed open ahead of Japan's corporate inflation figures for February, as well as trade data from the Philippines. Japan's corporate inflation rate for January is expected to come in at 0.5%, according to a Reuters poll. Investors will also be keeping an eye on inflation figures out of India as well as the U.S. later Tuesday, which could give a clue as to when the Federal Reserve will cut interest rates.

Organizations: Federal Reserve Locations: Tokyo, Asia, Pacific, Philippines, India

☆ Asia markets poised to fall after Wall Street rally pauses; China exits deflation territory as prices rise
▼ + stars: | 2024-03-11 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Customers at a fresh food market in Shanghai, China, on Monday, Aug. 7, 2023. Bloomberg | Bloomberg | Getty ImagesAsia-Pacific markets were set to fall Monday after Wall Street's rally took a breather, with artificial intelligence darling Nvidia finishing down more than 5% in its worst session since late May. Separately, China recorded its first month of inflation in four months with the country's consumer price index climbing 0.7% year on year in February. In Australia, the S&P/ASX 200 started the week down 1.21%, retreating from its all-time high and snapping a three-day winning streak. Japan's Nikkei 225 is also set to fall, with the index likely slipping below the 39,000 mark for the first time since Feb. 21.

Persons: Wall Organizations: Bloomberg, Getty, CPI, Reuters, Nikkei Locations: Shanghai, China, Asia, Pacific, Australia, Chicago, Osaka

☆ I was a commando who trained with Navy SEALs. Dealing with risky situations helped me navigate the corporate jungle.
▼ + stars: | 2024-03-10 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +6 min

It's now been 10 fulfilling years that I have spent in the private sector. But if I were to liken corporate life to my military experience, I would compare working in the private sector to parachuting. Some mourn the loss of camaraderie and the sense of purpose when one leaves the army for the private sector. And in the military, things are straightforward. AdvertisementSo, it's true that the private sector is inherently transactional, albeit in a different way.

Persons: Kwong Weng Yap, —, Yap, Singapore's, Lim Chuan Poh, It's, I've, you'll, Kwong Weng Organizations: Singapore Armed Forces, Service, National Cadet Corps, NCC, SAF, Navy, Defence Force, Enterprise Singapore Locations: Singapore, Australia, Yap, Myanmar, Vietnam, Southeast Asia, Ukraine, China

A man takes photos of a view showing residential and commercial buildings, from an observation deck beneath the YTN Seoul Tower, commonly known as the Namsan Tower, in Seoul on September 3, 2021. Asia-Pacific markets rose after comments from U.S. Federal Reserve Chair Jerome Powell hinted that interest rate cuts may not be too distant if inflation signals support policy easing. Speaking to the Senate Banking Committee, Powell didn't offer an exact timeline for rate cuts, but noted they would go down soon. "We're waiting to become more confident that inflation is moving sustainably at 2%. When we do get that confidence, and we're not far from it, it'll be appropriate to begin to dial back the level of restriction," Powell said in response to a question about rates and inflation.

Persons: Jerome Powell, Powell, we're Organizations: U.S . Federal, Senate Banking Locations: Seoul, Asia, Pacific, U.S

☆ Asia markets poised to rise after Wall Street rebound; trade data from Australia and China awaited
▼ + stars: | 2024-03-07 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

The sails of the Opera House are illuminated with projections on the opening night of Vivid Sydney 2023 in Sydney, Australia, on Friday, May 26, 2023. Anadolu Agency | Anadolu Agency | Getty ImagesAsia-Pacific markets are set to rise as investors await trade data from Australia and China on Thursday. This also follows comments from U.S. Federal Reserve chair Jerome Powell, who reiterated his stance that while the central bank could start cutting rates, it is "not immediately ready." In Australia, the S&P/ASX 200 rose 0.14%, nearing its all time high of 7,745.6 hit on March 1. Futures for Hong Kong's Hang Seng index stood at 16,565, higher than the HSI's close of 16,438.09 and on pace to extend gains on Wednesday after it rose almost 2%.

Persons: Jerome Powell Organizations: Opera, Vivid, Anadolu Agency, Getty, U.S . Federal, Japan's Nikkei Locations: Sydney, Australia, Asia, Pacific, China, U.S, Chicago, Osaka

☆ Asia markets poised to slip ahead of Chinese government's report card at 'Two Sessions' meeting; gold sets new record
▼ + stars: | 2024-03-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

Delegates attend the closing session of the Chinese People's Political Consultative Conference (CPPCC) in Beijing in 2022. Asia-Pacific markets were set to fall ahead of China's "Two Sessions" meeting, with investors watching out for its economic plans, including the country's gross domestic product growth target. Chinese Premier Li Qiang is expected to deliver the government's work report on Tuesday, though the traditional press conference with the premier has been scrapped. Separately, the Caixin services purchasing managers' index reading for China will be released later in the day. On the economic data front, investors also await South Korea's revised GDP numbers for the fourth quarter of 2023, as well as inflation figures from Japan's capital city of Tokyo.

Persons: Li Qiang Organizations: Political Consultative Locations: Beijing, Asia, Pacific, China, Tokyo

☆ This analyst predicted the Nikkei would cross 40,000. Here's where he thinks it'll go next
▼ + stars: | 2024-03-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +4 min

Koll was referring to the asset and equity bubble Japan saw in the late 80s, which resulted in the Nikkei hitting its 1989 highs. In July last year, Koll told CNBC's "Street Signs Asia" he expected the Nikkei to hit 40,000 "over the next 12 months." watch nowWhen asked what drives his optimism, Koll told CNBC on Monday that it was in part due to Japan's ability to be a "capital value-creating superpower." There is no question that Japanese 'salarymen CEOs' created more fundamental economic value than Wall Street's superstar CEOs. He said Japanese CEOs are the "undisputed global champions of delivering on the hard part, true economic value creation."

Persons: Jesper Koll, Koll, CNBC's, Fumio Kishida, Wall, Warren Buffett, Berkshire Hathaway Organizations: Nikkei, Monex Group, CNBC, Bank, Monex, Wall, Berkshire, Mitsubishi, Mitsui, Sumitomo Locations: Tokyo, Japan, Itochu

☆ Japan's Nikkei smashes 40,000 point barrier, Asia markets poised to track Wall Street gains
▼ + stars: | 2024-03-04 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

A screen displays the Nikkei 225 Stock Average figure on the trading floor at the Nomura Securities Co. headquarters in Tokyo, Japan, on Jan. 11, 2024. Japan's Nikkei 225 crossed the 40,000 mark on Monday, setting a new record high and leading gains in Asia as other markets also rose, tracking gains on Wall Street as both the S&P500 and the Nasdaq Composite hit fresh all-time highs on Friday. Investors will also be watching China's "Two Sessions" meetings today. The "Two Sessions" refer to the concurrent annual meetings of China's legislature, the National People's Congress, and the country's top political advisory body, the Chinese People's Political Consultative Conference. At the meetings, China premier Li Qiang is expected to deliver the government's work report, which details economic and policy goals for the world's second-largest economy, including its gross domestic product growth target.

Persons: Li Qiang Organizations: Nomura Securities Co, Japan's Nikkei, Nasdaq, National People's Congress, Political Locations: Tokyo, Japan, Asia, China

☆ Why South Korea's Japan-style measures to boost its stock market may not work
▼ + stars: | 2024-02-28 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +3 min

An inflatable bull during a ceremony marking the first day of trading of the year at the Korea Exchange (KRX) headquarters in Seoul, South Korea, Tuesday, Jan. 2, 2024. SeongJoon Cho/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesSouth Korea's Japan-style measures for improving corporate governance may not be enough to boost its undervalued stock markets and tackle the so-called "Korea discount." Asia's fourth-largest economy is striving to boost stock market valuations that are considered much lower compared to peers, with analysts referring to the phenomenon as the "Korea discount." The 'chaebol' problemSouth Korean markets are made up of corporations called "chaebols," which are large family-owned global conglomerates, typically controlled by the founder's family. "The behavior that leads to South Korea's low stock prices is motivated, and therefore seeking to coax South Korean controlling families into 'being nice' to minority stockholders is unlikely to be successful," Pines said.

Persons: SeongJoon Cho, James Lim, Jonathan Pines, Federated Hermes, Daniel Tan Organizations: Korea Exchange, Bloomberg, Getty Images Bloomberg, Getty, Financial, FSC, Samsung Electronics, LG, SK, Hyundai, Dalton Investments, Japan, Korean Stock Exchange, Federated, Grasshopper Asset Management, CNBC Locations: Seoul, South Korea, Japan, Korea, Tokyo, Asia, Singapore

☆ Bank CEO shrugs off U.S. war on 'woke' capital, says ESG investing is good for business
▼ + stars: | 2024-02-27 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Bill Winters, Chief Executive Officer at the Standard Chartered Bank, attends a panel session of the World Governments Summit in Dubai on February 12, 2024. Ryan Lim | Afp | Getty ImagesStandard Chartered chief executive Bill Winters says environmentally conscious investing can be good for business, dismissing the impact of a U.S. crusade against mission-driven investments. In the United States, for example, Republican lawmakers have decried ESG as a form "woke capitalism" that seeks to prioritize liberal goals over investment returns. But one of the stats that I love is the biggest renewable power center in the United States is the state of Texas, right? Signage atop the Standard Chartered Plc headquarters building, center, in Hong Kong, China, on Monday, Feb. 19, 2024.

Persons: Bill Winters, Ryan Lim, ESG, Winters, CNBC's, — Organizations: Standard Chartered Bank, World Governments, Afp, Getty, Standard, Democratic, Chartered Plc, Bloomberg Locations: Dubai, U.S, United States, Texas, Hong Kong, China

☆ Ashwath Kaushik: Record-breaking 8-year-old chess prodigy tells CNN he wants to become a ‘world champion’
▼ + stars: | 2024-02-23 | by ( Ben Church | ) edition.cnn.com time to read: +4 min

I felt amazing, just unbelievable,” adds Ashwath, who started playing chess when he was just four years old and quickly fell in love with the “really fun” game. Ashwath was then given a chess board and it wasn’t long before he started beating his parents and grandparents. “A world champion,” he says, without hesitation, when asked what he wants to become when he’s older, before adding: “That will be a bit of time. Carleton Lim/Singapore Chess FederationGiven his rapid development as a chess player, Ashwath is unlike most eight-year-olds, but, in many ways, he’s also like any other child his age. Proud parentsWith the help of his parents, Ashwath also streams some of his games and puzzles online and set up a YouTube channel where he has previously showcased his skills.

Persons: Ashwath Kaushik, Poland’s Jacek Stopa, Leonid Ivanovic –, Ashwath, Stopa, “ I’ve, ChessKid.com, Rohini Ramachandran, ” Ashwath, I’ve, – Ashwath, ”, he’s, he's, Carleton Lim, ” Ramachandran, We’ve Organizations: CNN, CNN Sport, Singapore, Federation Locations: Switzerland, Serbian, Ashwath

☆ Review: A Teenage Pianist Takes on the Canon at Carnegie Hall
▼ + stars: | 2024-02-22 | by ( Zachary Woolfe | ) www.nytimes.com time to read: +1 min

It was that rare occasion on Wednesday: There was an encore at Carnegie Hall. I mean a literal, French-for-“again” encore, when a musician, brought back at the end of a concert by applause and more applause, gives another rendition of a piece he has already played. Bowing modestly after making his Carnegie debut with a confident, supple, eventually dazzling performance of Chopin’s 27 études, the teenage pianist Yunchan Lim had given three eloquent encores of other Chopin works. So he returned to the stage and started the gentle undulations of the A-flat major étude he had played some 40 minutes earlier — now with even more flowing naturalness. Lim was courting comparison with himself after a concert spent courting comparison with the canon.

Persons: “, Yunchan Lim, Chopin, Lim, Chopin’s Organizations: Carnegie Hall, Carnegie

☆ Ashwath Kaushik: 8-year-old prodigy makes history after beating chess grandmaster
▼ + stars: | 2024-02-20 | by ( Ben Church | ) edition.cnn.com time to read: +2 min

At eight years, six months and 11 days, Ashwath Kaushik made history on Sunday by becoming the youngest player ever to beat a chess grandmaster in a classical tournament game. The youngster, who lives in Singapore, achieved the feat after beating Poland’s Jacek Stopa, 37, in round four of the Burgdorfer Stadthaus Open in Switzerland. “It felt really exciting and amazing, and I felt proud of my game and how I played, especially since I was worse at one point but managed to come back from that,” Kaushik told Chess.com after beating Stopa. Ashwath has earned the attention of some of the chess world's biggest names like Anish Giri. Every day is a new discovery, and we sometimes stumble in search of the right pathway for him,” his father, Kaushik Sriram, told Chess.com.

Persons: there’s, Ashwath Kaushik, Poland’s Jacek Stopa, Leonid Ivanovic –, Ashwath, Stopa, ” Kaushik, Chess.com, Anish Giri, Carleton Lim, Ashwath’s, ”, Kaushik Sriram Organizations: CNN, Stopa, Singapore Chess Federation Locations: Singapore, Switzerland, Serbian, India

☆ Kim Jong Un has broken with decades of North Korean policy – does it mean he’s planning for war?
▼ + stars: | 2024-02-16 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +14 min

The two sides have been cut off from each other since 1953, when an armistice ended the Korean War, and remain technically at war. Yoon and Biden have sharpened their countries’ deterrence plans and coordination in the face of North Korea’s threats and weapons development. If anything, some analysts believe, North Korea’s public statements signal that North Korea is abandoning its reunification policy in pursuit of peace on the peninsula. Vladimir Smirnov/AFP/Getty ImagesAn ‘emboldened’ KimThe North Korean leader may also feel more confident about his arsenal and his options as he watches a shifting global landscape. “Kim Jong Un is wary of a full-scale provocation by the South Korean military disguised as a military exercise and has vowed to occupy South Korean territory without hesitation,” said Lim in Changwon.

Persons: Kim Jong, South Korea –, ” Kim, ”, Kim, ’, Robert Carlin, Siegfred Heckler, Chul Lim, “, Joe Biden, Donald Trump, Edward Howell, Yoon Suk Yeol, Ayse, ” He’s, Yoon, Biden, Seoul . Kim, Trump, Lim, “ That’s, Kim Jong Un, Vladimir Putin, Vladimir Smirnov, ’ Kim, “ Kim Jong, …, Rachel Minyoung Lee, Howell, “ Kim Jong Un, Lee, Japan – Organizations: CNN, South, Korean Central News Agency, Reuters, North Korea Research Center, University’s Institute, Far Eastern, University of Oxford, Japan, Ewha Womans University, US, North, Russia's Vostochny, Getty, Stimson, –, White, United Nations Security Council, West, South Korean Defense Ministry, ”, Trump, North Korean Locations: Ukraine, Gaza, North Korea, South Korea, Korea, Republic of Korea, Kim, Washington, Seoul, Tokyo, United States, Korea’s, Changwon, Pyongyang, Russia, United Kingdom, Japan, Guam, Gon, Seoul ., Russian, Russia's, China, Iran, denuclearization, Western, North, Moscow, Beijing, Oxford, Jeju, South, “

☆ Singapore pledges to support households and companies as costs rise; budget deficit widens in 2023
▼ + stars: | 2024-02-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

SINGAPORE — Singapore's budget deficit widened more than expected in 2023 but the country expects a small surplus in the 2024 financial year, Deputy Prime Minister and Finance Minister Lawrence Wong said in his budget speech on Friday. The budget deficit for 2023 was revised to $2.67 billion (3.6 billion Singapore dollars), representing about 0.5% of its gross domestic product, Wong told parliament. Wong said a small surplus of SG$800 million is expected for the 2024 financial year, which runs from April 1, 2024 to March 31, 2025. In his budget speech, Wong announced that the city-state will increase support for households and companies in as the country continues to grapple with higher prices. The total bill for these added household measures will come up to an additional $1.41 billion, or 1.9 billion Singapore dollars.

Persons: Lawrence Wong, Wong, Singapore's Organizations: Finance Locations: SINGAPORE

☆ Japan is no longer the world's third-largest economy as it slips into recession
▼ + stars: | 2024-02-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Japan has lost its spot as the world's third-largest economy to Germany, as the Asian giant unexpectedly slipped into recession. Fourth quarter GDP sharply missed forecasts for a 1.4% growth in a Reuters poll of economists. On a quarter-on-quarter basis, GDP slipped 0.1%, compared with a 0.3% rise expected in the Reuters poll. Germany, on the other hand, saw its nominal GDP grow 6.3% to reach 4.12 trillion euros, or $4.46 trillion based on last year's average exchange rate. Nominal GDP measures the value of output in current dollars, without adjusting for inflation.

Organizations: Nikkei, Bank of Locations: Tokyo, Japan, Germany, Bank of Japan

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