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Singapore economy slows down in year end of 2014

Singapore’s economy in the last quarter of 2014 tapered off with a 1.5 percent growth year on year after expanding by 2.8 percent in the third quarter, said the Ministry of Trade and Industry (MTI).
Singapore’s economy in the last quarter of 2014 tapered off with a 1.5percent growth year on year after expanding by 2.8 percent in the thirdquarter, said the Ministry of Trade and Industry (MTI).

According to MTI, the manufacturing sector in October-Decemberexperienced a year-on-year slide of 2 percent after recording anexpansion of 1.7 percent in the third quarter.

Meanwhile, theconstruction sector in the September-December period was marked by aslight 0.8 percent rise in growth compared to the same quarter of 2013,0.5 percent less than the previous quarter.

The slowing growthwas attributed in particular to the decrease in private house pricewhich dropped 1 percent in the fourth quarter, marking five consecutivequarters’ fall.

Based on the statistics, MTI estimated thatSingapore's economy grew at 2.8 percent in 2014, lower than its previousforecast of around 3 percent.-VNA

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Malaysia's Petronas Twin Towers (Photo: AFP)

Malaysia plans sales, service tax hikes

The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
Philippines seizes 175 million USD meth haul

Philippines seizes 175 million USD meth haul

Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
Permanent Secretary of the Thai Ministry of Commerce, Vuttikrai Leewiraphan. (Photo: thainews.prd.go.th)

Thailand engages USTR🤪 on five-point trade proposal

Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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