Straits Times: Growth forecast too high?

Poor consumer demand may stall second half rebound; all signs point to slower pace of 3-5%
By Ignatius Low, Money Editor
IS THE official growth forecast of 4 to 6 per cent for the Singapore economy too high?
Could we instead be heading for a much lower clip, like (gasp) 3 per cent?
Three months ago, most people [...]

Straits Times: More financial turmoil to come

One year later, the US sub-prime crisis is spreading to Asia
By Bryan Lee, Economics Correspondent
Nobody seems any wiser as to how long the financial turmoil will last and what the final bill will be. But the worst may be yet to come as the pain is starting to spread to the wider economy, which [...]

Straits Times: No quick rebound for economy

Tharman signals that weak global economy could hit Singapore hard
By Clarissa Oon, Political Correspondent
THE Singapore economy is grinding towards a slowdown, and Finance Minister Tharman Shanmugaratnam said yesterday that growth is unlikely to rebound ‘anytime soon’.
It is the clearest signal yet from the Government that the weakening US and global economy is hitting [...]

Business Times: U.S.A – Pending home resales rise 5.3% in June

LATEST US DATA
Lower prices draw buyers back into housing market
(WASHINGTON) More Americans unexpectedly signed contracts to purchase previously owned homes in June, a sign that lower prices are drawing some buyers back into the market.
The index of pending home resales rose 5.3 per cent after a revised 4.9 per cent decline in May, the National [...]

Business Times: Hiap Hoe JV gets Balestier hotel plot for S$73.3m

Rising construction costs could have made URA award to low bid, some say
By KALPANA RASHIWALA
THE Urban Redevelopment Authority has finally awarded a hotel plot at Balestier and Ah Hood roads opposite Sun Yat Sen Nanyang Memorial Hall – 22 days after the tender closed.
The winning bid from HH Properties, a joint-venture between Hiap [...]

Business Times: Property behind 14% rise in F&N Q3 profit

APB Q3 net profit after exceptionals jumps 22% to S$37.4 million
By EMILYN YAP
DEVELOPMENT property was the key bottom line driver for Fraser & Neave (F&N), which yesterday reported a 14 per cent rise in net profit after exceptionals to $110.3 million for its third quarter ended June 30, 2008.
This translates to earnings per share [...]

Business Times: Marina Bay Sands rises out of sight to stay on track

40% of project is underground; shopping mall rents average $50 psf
By ARTHUR SIM
(SINGAPORE) The lay of the land may still look relatively flat overthe Marina Bay Sands site but the integrated resort will open on time.
That is because – away from the limelight – almost 40 per cent of the development is underground and progressing [...]