Economy

Singapore’s middle class is feeling the pinch as the cost of car ownership soars to record heights. Residents are concerned and frustrated by the latest record-breaking Certificate of Entitlement (COE) prices, which include a stunning US$150,000 for a Toyota Corolla. In Singapore, the COE system restricts vehicle ownership and places a major financial burden on potential car buyers. The rise …

Singapore, recognized for its economic success and excellent level of living, is facing an urgent problem: skyrocketing rental rates. Rent increases are not only affecting individuals’ daily life, but they are also posing a huge political challenge to the administration. The affordability crisis is creating worries about economic inequality, social cohesion, and the total cost of life in the city-state …

An agreement was inked by the central banks of South Korea and Indonesia to encourage local currency exchanges between the two nations. The agreement intends to lessen the dependence on the US currency in bilateral commerce and investment. During a virtual meeting on Monday, the agreement was signed by the governors of the Bank of Korea, Lee Ju-yeol, and the …

The revisions to Japan’s visa policy may result in an inflow of skilled workers from the Philippines, Indonesia, and Vietnam. The new visa categories will enable foreign employees with specific talents to stay in Japan for up to ten years, an increase from the present five-year restriction. While this may provide new chances for Southeast Asian employees, there are questions …

In the face of Yemen’s increasing humanitarian catastrophe, the UN has issued an urgent plea for action to prevent starvation. The situation has been exacerbated by the continuing fighting and a blockade of the country’s major port, which prevents crucial supplies from reaching millions of people in need. Mark Lowcock, the United Nations’ humanitarian head, has warned that the situation …

Wealthy Chinese people have been flocking to Singapore in recent years, enticed by its business-friendly atmosphere, strategic position, excellent quality of life, and well-developed wealth management sector. This development, however, has not been without controversy, prompting worries about future social and economic issues for the local community. In this essay, we look at why Singapore has become a magnet for …

Wealthy Chinese residents in Singapore have a taste for luxury real estate and automobiles, although investment activity seems to be lagging, signaling a change in investment tendencies. According to recent reports, wealthy Chinese expats in Singapore are increasingly investing in high-end real estate and luxury automobiles in order to diversify their assets and enjoy the benefits of luxury living. The …

Recent cryptocurrency hearings in Singapore have revealed some legal idiosyncrasies and novelties, highlighting the need for clearer regulations. In a recent case, a judge ruled that cryptocurrencies are not securities and are therefore exempt from Singapore’s Monetary Authority’s regulatory supervision. Nonetheless, the same judge ruled that the exchange of cryptocurrencies falls under the Payment Services Act, which regulates payment systems …

BDO Unibank, the largest bank in the Philippines, has partnered with Hyakujushi Bank, a regional bank established in Japan, in a move that will increase BDO’s presence in the Japanese market and provide enhanced financial services to both Japanese and Filipino customers. Under the terms of the agreement, BDO and Hyakujushi Bank will work together to provide trade financing, remittance …

According to a report by Bloomberg, the real estate market in Singapore is observing rapid growth as demand continues to remain high. This comes as no surprise. The price of private residential property in the first quarter of 2023 rose by 2.9%, which is a higher increase than the previous quarter’s 2.1% rise (which was the highest quarterly increase on …