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Globally, private banking client assets grew to US$394 billion in 2020, up 9 per cent year on year. This is notable as our private bank client assets comprise a quarter of the US$1.6 trillion wealth balances in wealth and personal banking, up 12 per cent year on year. Significantly, Asia continued to be a substantial contributor in net

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Globally, private banking client assets grew to US$394 billion in 2020, up 9 per cent year on year. This is notable as our private bank client assets comprise a quarter of the US$1.6 trillion wealth balances in wealth and personal banking, up 12 per cent year on year. Significantly, Asia continued to be a substantial contributor in net

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The more US foreign policy changes, the more it remains the same. Expectations for dramatic alterations tend to rise based on the presidential candidate's campaign rhetoric, but these tend to remain unfulfilled. Thu, May 13, 2021 - 5:50 AM. Leon Hadar

btworld@sph.com.sg.

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Tue, Apr 27, 2021 - 12:29 PM. Michelle Zhu michellezhu@sph.com@MichZhuBT. 108 Robinson Road when it was known as Finexis Building. PHOTO: DTZ. PGIM Real Estate has acquired 108 Robinson Road for US$107 million, as part of its deeper push into Asia. It comes as the real-estate unit of PGIM - the investment management business of Prudential WWW.BUSINESSTIMES.COM.SG www.businesstimes.com.sg

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An Everest permit alone costs US$11,000 and climbers pay upward of US$40,000 for an expedition. But the warmer weather that ushers in safer conditions for scaling Nepal's dangerous, snow-capped peaks has coincided with a deadly second wave of Covid-19 infections, with active cases in the country rising six-fold in the last two weeks. WWW.BUSINESSTIMES.COM.SG www.businesstimes.com.sg

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Wed, May 05, 2021 - 12:12 AM. A coalition of musicians and human rights groups urged music streaming company Spotify on Tuesday to rule out possible use of a speech recognition tool it recently developed to suggest songs - describing the technology as "creepy" and "invasive". In January, Sweden-based Spotify patented a technology

that

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An Everest permit alone costs US$11,000 and climbers pay upward of US$40,000 for an expedition. But the warmer weather that ushers in safer conditions for scaling Nepal's dangerous, snow-capped peaks has coincided with a deadly second wave of Covid-19 infections, with active cases in the country rising six-fold in the last two weeks. WWW.BUSINESSTIMES.COM.SG www.businesstimes.com.sg

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Wed, May 05, 2021 - 12:12 AM. A coalition of musicians and human rights groups urged music streaming company Spotify on Tuesday to rule out possible use of a speech recognition tool it recently developed to suggest songs - describing the technology as "creepy" and "invasive". In January, Sweden-based Spotify patented a technology

that

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An Everest permit alone costs US$11,000 and climbers pay upward of US$40,000 for an expedition. But the warmer weather that ushers in safer conditions for scaling Nepal's dangerous, snow-capped peaks has coincided with a deadly second wave of Covid-19 infections, with active cases in the country rising six-fold in the last two weeks. WWW.BUSINESSTIMES.COM.SG www.businesstimes.com.sg

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Wed, May 05, 2021 - 12:12 AM. A coalition of musicians and human rights groups urged music streaming company Spotify on Tuesday to rule out possible use of a speech recognition tool it recently developed to suggest songs - describing the technology as "creepy" and "invasive". In January, Sweden-based Spotify patented a technology

that

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For luxury homes priced at S$5 million and above, the number of caveats lodged by Singaporeans jumped 44%; buyers included owner-occupiers and investors. Thu, May 13, 2021 - 5:50 AM. Fiona Lam fiolam@sph.com.sg@FionaLamBT. Owner-occupiers are turning to larger, more luxurious residential properties as many spend more time at home

due to the

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Blue Origin to begin space tourism ticket sales Wednesday. Wed, May 05, 2021 - 9:08 PM. Blue Origin, billionaire Jeff Bezos' rocket company, is poised to open up ticket sales on Wednesday for suborbital sightseeing trips on its New Shepard spacecraft, a landmark moment as US firms strive toward a new era of private commercial space travel.

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Breakfast Brief All you need to know to start your day, right in your inbox. Today's Paper Today’s print edition of BT, delivered to your inbox. Daily Debrief A round-up of all the important things that happened today. BT Lifestyle Wine and dine or plan your next holiday with BT’s weekend newsletter. WWW.BUSINESSTIMES.COM.SG www.businesstimes.com.sg

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Buyer from Fujian pays S$39.3m for Sentosa Cove villa. The price works out to nearly S$2,012 per square foot based on the land area of 19,550 sq ft. Thu, Apr 15, 2021 - 5:50 AM. Kalpana Rashiwala kalpana@sph.com.sg@KalpanaBT. The villa along Ocean Drive is one of fewer than 10 sea-facing bungalows on Sentosa Cove with a land area

exceeding

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PHOTO: REUTERS. Britain's biggest banks have made "hollow" carbon-reduction pledges and are key financiers of coal, a campaign group said in a report Tuesday ahead of the UK hosting a climate summit. Barclays, HSBC, Lloyds, NatWest and Standard Chartered provided US$56 billion to coal firms over two years to late 2020,

according to

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Dennis Tay. Founder of Naiise. 14/01/2017 - 05:50. by. Tay Suan Chiang taysc@sph.com.sg@TaySuanChiangBT. Dennis Tay knew that he wanted to be an entrepreneur even before he started Naiise, the retail store for all things well-designed. He knew it before he enrolled in entrepreneurship at the Singapore Institute of Management-RMIT

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Addressing these challenges will require urgent actions and sustained commitment says Avanade. “The sole purpose of a business is to generate profits for its shareholders” - This was the thinking that the Nobel Prize-winning economist, Milton Friedman, espoused in the 1970s. Fast forward half a century later, businesses reside in a very

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Breakfast Brief All you need to know to start your day, right in your inbox. Today's Paper Today’s print edition of BT, delivered to your inbox. Daily Debrief A round-up of all the important things that happened today. BT Lifestyle Wine and dine or plan your next holiday with BT’s weekend newsletter. WWW.BUSINESSTIMES.COM.SG www.businesstimes.com.sg

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Buyer from Fujian pays S$39.3m for Sentosa Cove villa. The price works out to nearly S$2,012 per square foot based on the land area of 19,550 sq ft. Thu, Apr 15, 2021 - 5:50 AM. Kalpana Rashiwala kalpana@sph.com.sg@KalpanaBT. The villa along Ocean Drive is one of fewer than 10 sea-facing bungalows on Sentosa Cove with a land area

exceeding

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Wilmar International led the Q1 2021 consideration tally, buying back 8,141,700 shares in the quarter at an average price of S$5.29. As of March 31, the leading agribusiness group had purchased 0.83 per cent of its issued shares (excluding treasury shares) on the current

mandate.

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PHOTO: REUTERS. Britain's biggest banks have made "hollow" carbon-reduction pledges and are key financiers of coal, a campaign group said in a report Tuesday ahead of the UK hosting a climate summit. Barclays, HSBC, Lloyds, NatWest and Standard Chartered provided US$56 billion to coal firms over two years to late 2020,

according to

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Dennis Tay. Founder of Naiise. 14/01/2017 - 05:50. by. Tay Suan Chiang taysc@sph.com.sg@TaySuanChiangBT. Dennis Tay knew that he wanted to be an entrepreneur even before he started Naiise, the retail store for all things well-designed. He knew it before he enrolled in entrepreneurship at the Singapore Institute of Management-RMIT

University.

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Addressing these challenges will require urgent actions and sustained commitment says Avanade. “The sole purpose of a business is to generate profits for its shareholders” - This was the thinking that the Nobel Prize-winning economist, Milton Friedman, espoused in the 1970s. Fast forward half a century later, businesses reside in a very

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Home > Government & Economy COVID-19'S IMPACT ON SINGAPORE ECONOMY ALREADY EXCEEDS SARS, RECESSION

POSSIBLE: PM LEE

Fri, Feb 14, 2020 - 2:45 PM PM Lee said he was visiting the airport and speaking with a range of workers there, as Changi Airport is on the front line of this fight.

CMG FILE PHOTO

The impact from the novel coronavirus outbreak on Singapore's economy has already exceeded that of Sars (severe acute respiratory syndrome) back in 2003, Prime Minister Lee Hsien Loong said on Friday, warning that a recession could be a possibility. The impact, particularly over the next few quarters, will be significant as the country battles a "very intense outbreak", said PM Lee during a visit to Changi Airport Terminal 3. "It's already much more than Sars, and the economies of the region are much more interlinked together. China, particularly, is a much bigger factor in the region," he said. "I can't say whether we will have a recession or not. It's possible, but definitely our economy will take a hit." Singapore was first hit by Sars on March 2003. It took five months, until July that year, for the disease to be eradicated in the

Republic.

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"That was, I think, very fast. I expect it not to be so fast this

time," he said.

Singapore is grappling with containing Covid-19, which was first reported in the Chinese city of Wuhan in December 2019. The number of confirmed cases in Singapore has been rising steadily - there are 58 so far, with at least five local clusters. Eight new cases - all with links to previous ones - were announced on Thursday

.

The tourism industry has been one of the hardest hit sectors. Already, the government is bracing for tourist arrivals to drop by between 25

and 30 per cent

this year.

On Friday, PM Lee told reporters at Changi that he was visiting the airport and speaking with a range of workers there, as Changi Airport is on the front line of this fight. While flights are down by a third and businesses have been hard hit, staff and crew have to stay at their posts and keep Singapore open for business. "I came to see how they work, to ask after them, make sure that they are well, make sure they have what they need to do their jobs, and are well supported and all right - and are confident and know what's happening," he said. PM Lee added that he was glad that the workers he met were in good

spirits.

"We are keeping them informed and where they have issues, we are dealing with those issues, and making sure that the people are confident that they can do their jobs," he said. Asked whether Singapore was already witnessing widespread transmission of the pathogen within the community, and if it should shift its approach in dealing with the novel coronavirus, PM Lee said Singapore was not at that point yet, adding that shutting down the country was

also not an option.

"But it's an evolving situation. Every day brings new developments and we cannot be sure which way it will go. So we have to watch and we have to respond quickly but you have to go, you have to make a judgment at each point, what is the right thing to do now," he said. "We have to keep on, keep Singapore going and we have to keep making a living. Life has to go on. So we have to calibrate and judge as we go on each step, what is the most prudent thing to do." During the 1.5-hour visit, PM Lee, who was accompanied by Senior Minister of State for Health and Transport Lam Pin Min and Mrs Lee, spoke to staff involved in virtually all sectors of airport

operations.

From baggage handlers, cleaning staff, immigration and customs officers to cabbies, most staff delivered a grim report of how the virus has impacted business. Trolley service officer Molly Goh, 62, said she estimated that the number of travellers has plunged by about half. Taxi driver V A Moorthy told PM Lee that his income has dropped by about 30 per cent, and that cabbies have to wait upwards of an hour for a fare at the airport. "We have to try and get more tourists to come, everyone is suffering," said Mr Moorthy, 61.

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GOVERNMENT & ECONOMY CHINA SAYS 6 HEALTH WORKERS DIED FROM VIRUS, 1,716 INFECTED SHELL SENDS SOME SINGAPORE STAFF HOME AFTER COVID-19 SCARE JAPAN TO BEGIN MOVING SOME OFF QUARANTINED CRUISE SHIP CHINA'S CORONAVIRUS TOLL REVISED DOWNWARD AFTER DEATHS DOUBLE-COUNTED CPF INTEREST RATES TO REMAIN UNCHANGED FOR SECOND QUARTER THIS YEAR CRUISE PASSENGERS LAND AFTER TWO WEEKS AT SEA OVER CORONAVIRUS FEARS Facebook LinkedIn Twitter Pinterest Reddit Email Print

BREAKING NEWS

05:35 PM

Feb 14, 2020 05:35 PM

Stocks

MALAYSIA: SHARES CLOSE HIGHER ON FRIDAY MALAYSIA share prices closed higher on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 5.3...

05:30 PM

Feb 14, 2020 05:30 PM

Companies & Markets

KRISENERGY UNIT FACES STATUTORY DEMAND; ANOTHER SUBSIDIARY TRANSFERS OFFSHORE PRODUCTION INTEREST MAINBOARD-LISTED oil and gas company KrisEnergy, which is in the throes of debt restructuring, has been hit with a...

04:36 PM

Feb 14, 2020 04:36 PM

Stocks

EUROPE: STOCK MARKETS OPEN LOWER European stock markets mostly fell at the start of trading on Friday, with London's benchmark FTSE 100...

04:35 PM

Feb 14, 2020 04:35 PM

Banking & Finance

JGBS STEADY TO SLIGHTLY WEAKER ON SUPPLY CONCERNS Japanese government bond (JGB) prices were steady to slightly softer on Friday following weak results of a...

04:26 PM

Feb 14, 2020 04:26 PM Energy & Commodities GOLD EASES FROM ONE-WEEK PEAK AS EQUITIES GAIN DESPITE VIRUS FEARS Gold eased from a more than one-week high on Friday, as hopes for global measures to soften the blow of...

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