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Daily Briefing: Singapore banks grapple with weaker credit; Residential sales up 4.4% in Q3
And Singapore slides down in most liveable cities ranking.
Weaker corporate balance sheets and currency market volatility pose risks to Singapore lenders, though the local banking system remains resilient, the Monetary Authority of Singapore said Friday. Non-performing loans have increased, and moves in emerging Asian currencies"could exacerbate foreign currency mismatch risks for banks in Singapore," the Singapore central bank said in its annual financial stability report. Read more here.
Singapore saw residential sales volume increase 4.4 percent quarter-on-quarter to 4,153 units in Q3 2015 compared to the 29.9 percent quarter-on-quarter decline seen over the same period last year, revealed a DTZ report. This was the highest recorded volume in the year, most of which was buoyed by the primary market, said the report. Find out more here.
Singapore ranked seventh in the Global Liveable Cities Index, collated by theAsia Competitiveness Institute (ACI) at the National University of Singapores (NUS) Lee Kuan Yew School of Public Policy. A ranking of the most liveable cities in the world, the index determines liveability in five aspects environmental friendliness and sustainability. Read more here.
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