Hot Topics on Regional Economy

Oct 2022

Singapore’s growth to slow ‘below trend’ in 2023, dragged down by external-facing sectors: MAS

SINGAPORE’S economic growth is expected to slow to a pace that is “below trend” next year, weighed down by key external-facing sectors such as manufacturing and financial services, the Monetary Authority of Singapore (MAS) said in its half-yearly macroeconomic review on Thursday (Oct 27).

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Asia could be a bright spot amid global downturn next year, economists say

Asia — especially Southeast Asia — remains a bright spot, even as the global economy looks set to head into recession next year, economists say. The strong economic rebound in Asia earlier this year has lost its momentum due to three “formidable headwinds” — that is, rising interest rates, the war in Ukraine and the impact of China’s subdued economic activity, the International Monetary Fund said last week.

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MAS launches crypto consumer protection playbook, seeks public feedback on proposals

THE Monetary Authority of Singapore (MAS) has released a consultation paper to get conversations started on reducing risks for retail customers dabbling in cryptocurrency. Among the suite of measures it has proposed to this end are the restricting of cryptocurrency trading via credit, implementing customer-knowledge assessments, and prohibiting crypto service providers from lending out customers’ digital-payment tokens.

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Singapore sees fewer unicorns in 2022 as economic headwinds grow

New unicorns have been few and far between here this year amid a poor global economy that is hitting investor confidence and fund-raising prospects. Only four unicorns – unlisted start-ups valued in excess of US$1 billion (S$1.4 billion) – have been minted, compared with 11 last year, noted Mr Peter Ong, chairman of trade agency Enterprise Singapore (EnterpriseSG), on Thursday.

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