SINGAPORE - Singapore's trade-sensitive economy has declined for a second straight quarter, the government said Friday, meaning the city-state has entered a recession for the first time in six years. ... more
GOLDMAN Sachs Group has lowered its forecast for the Singapore dollar after the central bank shifted policy to seek zero appreciation in the currency amid slowing global economic growth and an escalating credit crisis, Bloomberg news reported on Friday. ... more
SINGAPORE, Oct 10 - The problems afflicting U.S. and European banks will hurt Singapore and other emerging Asian economies for at least a year, Prime Minister Lee Hsien Loong said on Friday. ... more
SINGAPORE - Singapore's labour chief said on Thursday retrenchments and wage cuts in the city-state are likely if the global downturn continues, state television reported on its website. ... more
SINGAPORE'S economy shrank at an annualised, seasonally adjusted rate of 6.3 per cent in the third quarter, the government said on Friday, pushing the export-dependent economy into its first recession since 2002. ... more
SINGAPORE shares opened 7.3 per cent lower on Friday after Wall Street plunged overnight and government data showed the city-state was now in a recession. ... more
Singapore eased its monetary policy for the first time since 2003, declaring that it would slow the appreciation of the Singapore dollar, which is managed against a basket of currencies. ... more
HONG KONG - A STRING of bankruptcies in Hong Kong shows the days of easy money here are over, with more collapses likely if companies fail to manage their debt loads. ... more
SEOUL, SOUTH KOREA - SOUTH Korea's finance minister will plead with US bankers for extended credit lines for the country's banks as fears they might buckle under the strains of the global credit crisis hammered the stock market down as much as 9 per cent. ... more
TOKYO, JAPAN- A MASSIVE sell-off on Wall Street and escalating fears of a global recession sent Asian stocks plunging on Friday, with Japan's benchmark index plunging more than 10 per cent. ... more
TOKYO - THE credit crunch claimed its first victim among Japan's financial institutions Friday as hopes faded that Asia's largest economy would be relatively immune to the crisis. ... more
JAKARTA - INDONESIA suspended morning trading on the local stock exchange Friday as Asian markets plummeted, backing away from an earlier plan to reopen the bourse after a two-day halt, an official said. ... more
The world's economic powers faced huge pressure on Friday to contain the financial crisis as panic selling swept through European and Asian markets amid growing fears of a global economic recession. ... more
LONDON, ENGLAND - British bank Barclays Plc is likely to boost its capital by offering existing investors the chance to take preference shares or other instruments before it taps government funds, people familiar with the matter said. ... more
American International Group Inc has so far borrowed $70.3 billion under a U.S. government bailout loan even as regulators keep a close eye on how the insurer is using those funds, The Wall Street Journal said. ... more
TOKYO - THE world's major economies were to hold crisis talks later on Friday in an attempt to end a massive sell-off on the global stock markets, as Asian shares were hit by another day of panic selling. ... more
WASHINGTON - WITH financial markets seeing fresh panic, US authorities raised the prospect on Thursday of direct capital injections into troubled banks, and Europe's central bank opened up an unlimited cash lifeline. ... more
THE HAGUE - THE Dutch government will make available 20 billion euros (S$40 billion) to protect the financial sector against shocks from the world economic crisis, Finance Minister Wouter Bos announced on Thursday.
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