Growth in Asia will likely be slower than previously thought as a slowdown in China's economy hurts demand, the Asian Development Bank said, and urged policymakers in the region to strengthen financial-system buffers against external shocks.
Retail investors will enjoy a boost in protection with new rules for investments linked to gold and other physical assets. The enhancements also allows flexibility for accredited investors (AIs) to decide on the level of regulatory protection they want to be entitled to.
Smaller audit firms in Singapore who work on non-listed companies were found wanting after an annual inspection of their work by the industry's regulator. The Accounting and Corporate Regulatory Authority (Acra) released on Tuesday (Sept 22) the annual report of its Practice Monitoring Programme which noted an overall general improvement in the audits of listed companies.
Singapore state investor Temasek Holdings has committed a total of US$65 million (S$91.8 million) along with other investors in a venture capital fund being raised by Singapore-based Jungle Ventures, which will put money into about 20 technology startups.
A platform that will focus on adapting research in 3D printing technologies to applications for manufacturers in Singapore was launched on Tuesday (Sept 22).
The ringgit added to Monday's decline after the New York Times reported the US Justice Department has started an investigation into allegations of corruption associated with Malaysian Prime Minister Najib Razak and people close to him, spurring a surge in debt insurance costs.
Home prices in Australia posted their biggest quarterly gain in over five years in April to June, led again by Sydney which logged its biggest rise on record. But data from the Australian Bureau of Statistics (ABS) on Tuesday (Sept 22) also highlighted the patchy nature of the country's housing market, with cities in resource-rich states such as Western Australia suffering declines as the mining boom fades.
China top govt think tank says economy may grow 6.9% this year
China's economic growth will likely slow to 6.9 per cent this year amid gloomy short-term macroeconomic trends and the threat of deflation, state media quoted an annual report from a top government think tank as saying.