Advance estimates Singapore's economic growth in the third quarter of this year will be released at 8am on Oct 14, the Ministry of Trade and Industry (MTI) said on Wednesday (Oct 7). At the same time, the Monetary Authority of Singapore's (MAS) will announce its semi-annual monetary policy decision.
Business optimism plunged to near contractionary levels this quarter, after two consecutive quarters of increase previously. Research firm Dun & Bradstreet's latest Business Optimism Index (BOI), conducted every quarter, showed that the percentage of companies expecting higher profits and sales volumes has fallen over the previous quarter.
Companies should adopt global standards to build trust in their products and better integrate into global supply chains, said Minister of State for Manpower Teo Ser Luck.
The outlook of Singapore Real Estate Investment Trusts (S-Reits) remains positive despite the softer demand and rising supply, credit rating agency Moody's said. S-Reits' earnings will maintain their healthy growth for at least another year on the back of previous acquisitions, Moody's said in a report issued on Wednesday.
Malaysia's ringgit headed for its biggest three-day rally in two years as trade data beat estimates and Brent crude extended its advance above US$50 a barrel, helping shore up revenue for Asia's only major oil exporter.
The Bank of Japan held off on expanding stimulus on Wednesday, even as slumping exports and falling oil prices threaten its rosy projection that the economy is on track to hit its ambitious 2 per cent inflation target next year.
Samsung flagged a nearly 80 per cent jump in quarterly profit on Wednesday, as sales of chips and displays offset stiff competition in smartphones from Apple and cheaper Chinese rivals.