Singapore and Cambodia to strengthen cooperation in renewables, carbon markets, agri-trade
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CNA
29 minutes ago
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Philippine annual inflation quickens slightly, but no bar to more rate cuts
MANILA :Philippine annual inflation quickened slightly in June, driven by increased utility costs, but remained below the central bank's target range and left the door open for further interest rate cuts to support economic growth. The consumer price index rose by 1.4 per cent year-on-year in June, marginally above May's 1.3 per cent pace but below the median 1.5 per cent increase forecast in a Reuters poll. This brought the year-to-date average inflation to 1.8 per cent, below the central bank's 2 per cent to 4 per cent target for 2025. The slight price uptick last month was due to increases in housing, water, electricity, gas, and other fuel prices, which accelerated to 3.2 per cent from 2.3 per cent in May, the statistics agency said on Friday. This was partially offset by a record 14.3 per cent decline in rice prices, which helped ease food inflation. "Inflation is projected to remain below the lower end of the target in 2025, primarily due to the continued easing of rice prices," the central bank said in a statement. Core inflation, which strips out volatile food and energy prices, was unchanged at 2.2 per cent in June. BSP Governor Eli Remolona said on Thursday that low inflation could give the central bank room to cut rates two more times this year to help shore up economic activity amid growing external risks. The BSP cut its key policy rate for a second consecutive time in June, bringing it to 5.25 per cent, its lowest level in two and a half years. The next policy meeting is scheduled for August 28.
CNA
38 minutes ago
- CNA
Man charged with damaging PAP campaign posters in Hougang on Polling Day
SINGAPORE: A 57-year-old man was charged in court on Friday (Jul 4) with breaking flag poles and damaging People's Action Party (PAP) campaign posters on GE2025 Polling Day. Seng Guan Heng was handed five charges: Mischief, intentional harassment, causing annoyance while drunk and two counts of criminal force. According to charge sheets, the Singaporean broke the flag poles of two PAP flags and damaged five posters worth about S$205 (US$161) at an open carpark at Block 328, Hougang Avenue 5 at about 11.20pm on May 3. He then allegedly cursed at a group of PAP volunteers, using Hokkien vulgarities and pointed his middle finger at them. Seng is also accused of pushing two men on their chests, and shouting while drunk at the carpark. He appeared alone in court on Friday and said he would plead guilty. He told a Mandarin interpreter that he has to travel regularly for work, giving dates for travel to Vietnam and Indonesia. "Mr Seng, once you are charged in court, you cannot travel freely, and each time you travel you have to make an application to the court for permission, and that requires an increase in bail amount ... it is not a matter of you informing (the court)," said the judge. The case was adjourned to August for a further mention. In response to queries from CNA, PAP's candidate for Hougang SMC Marshall Lim said the matter is now before the courts, and "we should let the legal process take its course". "Politics can and should involve passionate debate and advocacy, but there is no place for violence in our discourse. Let us always remember that regardless of our political views, we are all fellow Singaporeans," said the lawyer. "Our differences should inspire meaningful dialogue and a search for common ground, reflecting our commitment to unity in diversity." He had obtained 37.85 per cent of the vote share in Hougang against Mr Dennis Tan Lip Fong from the Workers' Party. If convicted of mischief, Seng can be jailed for up to two years, fined, or both. If convicted of intentional harassment, he could be jailed for up to six months, fined up to S$5,000, or both. If found guilty of using criminal force, he can be jailed for up to three months, fined up to S$1,500, or both.
CNA
an hour ago
- CNA
CNA938 Rewind - Private health insurance premiums on the rise: Should I relook my portfolio?
Health Minister Ong Ye Kung says there is a need to set the private healthcare financing system on a more sustainable footing. With the costs of private health insurance and healthcare rising, is it time to relook at one's portfolio? Andrea Heng and Hairianto Diman speak with Chuin Ting Weber, CEO and Chief Investment Officer at MoneyOwl, to find out more.
