China hits back hard in global trade war with tariffs on US goods
China announced additional tariffs of 34 per cent on US goods on April 4, striking back at US President Donald Trump and escalating a trade war that has fed fears of a recession,
EU hits back at Trump’s trade war with US$28 billion in tariffs on US imports
The 27-nation bloc faces 25 per cent import tariffs on steel and aluminium and cars and “reciprocal” tariffs of 20 per cent from Wednesday for almost all other goods.
‘Larger-than-expected’ tariffs mean higher inflation, slower growth: US Fed chief Powell
Mr Powell spoke as equity markets from Tokyo to London to New York continued a swoon that has wiped some 10 per cent off major US stock indexes
Singapore retail sales fall worse-than-expected 3.6% in February; tariffs darken outlook
Data from the Singapore Department of Statistics (SingStat) on April 4 showed retail sales slipped 3.6 per cent year on year in February – partly due to the timing of Chinese New Year.
S’pore spared from worst-case scenario on Trump tariffs, but likely to be hit by global trade slowdown
Concerns over the outlook were reflected in the stock market, with the benchmark Straits Times Index closing 0.3 per cent down at 3,942.23 points on April 3.
Economists cut growth forecasts for Asia after Trump tariffs
Credit ratings agency Fitch warned that if tariffs remain in place for a prolonged period, “many countries will likely end up in a recession. You can throw most forecasts out the door”.
US emerges as biggest loser in markets from Trump’s tariffs
US equity index futures tumbled more than 4 per cent after Trump announced a sweeping series of tariffs following the market close on Wednesday (Apr 3),
UOB lowers interest rate on flagship One Account following OCBC’s 360 Account cut
With effect from May 1, the maximum interest rate will be cut to 3.3 per cent per annum on the first $150,000, down from 4 per cent.
See Trump’s list: More than 180 countries and territories facing reciprocal tariffs
But that halved figure includes “the combined rate of all their tariffs, nonmonetary barriers and other forms of cheating,” he said.
HDB resale prices rise 1.5%, slowest growth in five quarters
In tandem with the slower market conditions, the resale volume in the first quarter of this year - up to Mar 27 - is 6,392, said HDB. This is 7.7 per cent lower than that in the same period last year.
More funds and products expected, as market awaits details about Singapore’s S$5 billion equities push
In February, 5,590 SBF units in varying stages of completion were rolled out. They were oversubscribed, with more than 22,000 applicants for the flats.