Hot Topics on Regional Economy

Jul 2023

Singapore avoids technical recession as economy grows 0.7% year-on-year in second quarter

Singapore’s economy avoided a technical recession in the second quarter, growing 0.7% year-on-year and 0.3% quarter-on-quarter, advanced estimates showed. Economists polled by Reuters expected to see growth of 0.3% quarter-on-quarter and 0.6% year-on-year.

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China’s economic recovery continues to lose momentum as manufacturing activity contracts for fourth straight month in July

China’s factory activity picked up in July but remained in contraction for a fourth straight month amid an overall slowing economic recovery, while expansion in the non-manufacturing sectors slowed this month, data released on Monday showed.

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Singapore's GIC bets on China after scoring 8-year-high returns

Singapore sovereign wealth fund GIC (GIC.UL), one of the world's biggest investors, plans to continue investing in China despite geo-political tensions after chalking up its best showing in eight years in the financial year ended March. Its group chief investment officer Jeffrey Jaensubhakij told Reuters GIC was keen to invest in Chinese companies that do business within China and do not export to the United States.

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Battery recycling firms to build new plants to cope with EV population growth

The two battery recycling companies here are planning to build new plants in anticipation of a sharp increase in recycling volume as Singapore’s electric vehicle (EV) population grows.

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