Singapore recession likely bottomed in 1st quarter, but weak recovery seen, central bank says

September 15th, 2009 WASHINGTON - Federal Reserve Chairman Ben Bernanke said Tuesday that the worst US recession in seven decades has "very likely" come to an end, but warned the country's economy will remain weak for some time. The US central bank head said there was general agreement among economists that the United States would return to growth in the third quarter of this year and continue to pick up in 2010.

August 18th, 2009 Oil hovers near $67 amid mixed economic signalsSINGAPORE — Oil prices hovered near $67 a barrel Tuesday in Asia as investors looked for clues on the strength of the global economic recovery. Benchmark crude for September delivery was up 12 cents to $66.87 a barrel by midday in Singapore in electronic trading on the New York Mercantile Exchange.

August 17th, 2009 Oil falls below $66 on weak US consumer confidenceSINGAPORE — Oil prices fell below $66 a barrel Monday in Asia on investor concerns that crude demand will remain weak amid a slow global economic recovery. Benchmark crude for September delivery was down $1.63 to $65.88 a barrel by late afternoon in Singapore in electronic trading on the New York Mercantile Exchange.

August 17th, 2009 Oil falls below $67 on weak US consumptionSINGAPORE — Oil prices slipped below $67 a barrel Monday in Asia on investor concerns crude demand will remain weak amid a slow global economic recovery. Benchmark crude for September delivery was down 59 cents to $66.92 a barrel by midday in Singapore in electronic trading on the New York Mercantile Exchange.

August 11th, 2009 Singapore Q2 GDP jumps revised 20.7 percentSINGAPORE — Singapore revised slightly higher its economic growth in the second quarter, but warned U.S. consumption must pick up to sustain the recovery.

July 27th, 2009 Global consumer confidence improves in Q2LONDON — Consumer confidence around the world improved in the second quarter, according to a survey by researchers Nielsen, suggesting that the public is embracing the idea of a global economic recovery. The Nielsen Global Consumer Confidence Index rose to 82 in June, an increase of 5 points from March, spurred by renewed consumer optimism and stock market gains in emerging markets and key Asian countries.

July 24th, 2009 SKorea's economy grows 2.3 percent in 2nd quarterSEOUL, South Korea — South Korea's economy recorded its strongest growth in 5½ years in the second quarter as increased government spending and record low interest rates insulated it from the global recession. Asia's fourth-largest economy expanded 2.3 percent in the three months ended June 30, the Bank of Korea said Friday in a report.

July 23rd, 2009 Canada's central banks says recession overOTTAWA — Canada's central bank is declaring the recession essentially over, saying Canada's economy will begin growing this summer after nine months of stagnation and lead most of the industrialized world next year. Bank of Canada Governor Mark Carney said Thursday the economy will grow this quarter.

July 16th, 2009 Singapore central bank posts $6.3 billion lossSINGAPORE — Singapore's central bank said the financial crisis and global recession battered its assets last year, dragging it to a loss of more than $6 billion. The bank, known as the Monetary Authority of Singapore, said Thursday it suffered a net loss of 9.2 billion Singapore dollars ($6.3 billion) in its fiscal year ended March, or about 3.5 percent of the bank's average assets.

July 14th, 2009 Singapore's economy emerges from recession in Q2SINGAPORE — Singapore's economy grew for the first time in a year, soaring 20 percent in the second quarter, a sign Asia is emerging from the global slump. Gross domestic product jumped an annualized, seasonally adjusted 20.4 percent in the three months through June from the previous quarter, the Trade and Industry Ministry said Tuesday in a statement.

July 8th, 2009 Singapore bans 10 firms from selling risky bondsSINGAPORE — Singapore's central bank has banned some of the island's biggest financial institutions from selling structured notes after they improperly marketed $367 million of the bonds that were linked to Lehman Brothers Holdings Inc. The 10 banks and brokerages can't sell structured notes for between six months and two years, the central bank, known as the Monetary Authority of Singapore, said in a statement late Tuesday.

June 16th, 2009 TORONTO - The worst is over for the global economy and a recovery is likely to begin later this year, says a bank report released here Monday. The global economic crisis has bottomed out and positive indicators have begun to emerge, said the report by the Royal Bank of Canada which is the top bank in the country.

May 4th, 2009 Singapore stocks rise 5.6 percent to 6-month highSINGAPORE — Singapore stocks jumped to a six-month high Monday on growing investor optimism that the worst of the global economic downturn may be over. The Straits Times index rose 108.43, or 5.6 percent, to 2,028.71.

April 21st, 2009 Australia in recession, central bank chief saysSYDNEY — Australia has followed the rest of the world into a recession, the central bank chief said Tuesday. But Reserve Bank of Australia Governor Glenn Stevens emphasized that "sensible" policies remained in place and that the government had not been forced to bailout the banking sector.

March 16th, 2009 SINGAPORE - Singapore's economy is expected to recover slightly in the final quarter of 2009, just after sliding even deeper into recession during the first three quarters of the year, a survey by the city-state's central bank showed Monday. A poll of 20 economists and analysts by the Monetary Authority of Singapore in February showed they expect Singapore's gross domestic product (GDP) to fall 8.5 percent in the first quarter 2009 compared to the same period a year ago.