Burma govt denies holding $11B in S’pore banks
Singapore city as seen from the harbor. (Photo: Reuters) (13 Sep) - Burma’s government on Thursday denied reports that it holds up to US$11 billion worth of foreign reserves in several bank accounts in Singapore. The figure was first mentioned by an independent financial researcher, who said that World Bank and Asian Development...
Household debt: Singapore’s ‘Achilles heel’?
Is household debt Singapore's 'Achilles Heel'? (13 Sep) - Singapore stepped up efforts to contain a rapid increase in household debt by tightening rules around unsecured credit late Wednesday – a move viewed by economists as a preemptive strike ahead of a rise in borrowing costs in the country. "The central...
Mass immigration has made Britain a less competitive economy
1,300 migrants a day pour into UK. (11 Sep) - When Mark Carney went to Nottingham last week to make his first speech as Governor of the Bank of England, media attention focused, naturally enough, on his reference to Jake Bugg, who we are told is a pop singer of some sort. Amazingly, Mr Carney had been to one of his gigs. Yet...
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