Latest news with #RaviMenon
Straits Times
3 days ago
- Business
- Straits Times
Don't count out globalisation: Ravi Menon
Sign up now: Get ST's newsletters delivered to your inbox Former MAS chief Ravi Menon said that globalisation will continue to take place, driven by economic and market forces in search of efficiency and growth. SINGAPORE – The fragmenting of the global economy will be an enduring trend, but this does not mean that the world will inevitably become less integrated and interdependent. Despite visible setbacks such as tariffs and rising protectionism, former central bank chief Ravi Menon argued on July 29 that globalisation will continue to take place, driven by economic and market forces in search of efficiency and growth. But given the opposing forces acting on the global economy, the onus is on countries to scan the horizon, discern underlying trends and shape a new form of globalisation, Mr Menon said at a July 29 conference organised by the Institute of Policy Studies and Singapore Business Federation. He noted that world trade reached recorded highs following the US-China tariffs imposed during the first Trump administration, and that today's highly integrated supply chains would be very difficult to untangle. The law of comparative advantage – which posits that countries benefit from specialising in producing goods and services they are good at – is also 'extremely difficult to dislodge', said Mr Menon, who became Singapore's first ambassador for climate action following his retirement from the Monetary Authority of Singapore on Jan 1, 2024. 'Business people know this – they see supply chains shifting and configuring, not completely collapsing and breaking down,' he said. 'Like water in nature, trade finds a way... maybe less efficient, more frustrated, but it seems to find a way.' Top stories Swipe. Select. Stay informed. Singapore Grace Fu apologises for Tanjong Katong sinkhole, says road may stay closed for a few more days Singapore Terrorism threat in Singapore remains high, driven by events like Israeli-Palestinian conflict: ISD Singapore S'pore can and must meaningfully apply tech like AI in a way that creates jobs for locals: PM Wong Singapore 7, including child and firefighter, taken to hospital after fire breaks out in Toa Payoh flat Sport IOC president Kirsty Coventry a 'huge supporter' of Singapore Singapore Man on trial for raping woman who hired him to repair lights in her flat Singapore Doctor who forged certificates for aesthetic procedures gets 4 months' jail Singapore ICA inspector obtained bribes in the form of sex acts from 6 foreign men in exchange for his help While an 'inordinate amount of attention' has been put on trade in goods, Mr Menon pointed out that globalisation consists of a range of other cross-border flows – such as in services, investment, finance and talent – and countries need to understand what is going on in each of them. At the panel discussion, there was broad agreement that the US, which had long promoted the global trading system, was no longer willing to do so. Former US trade negotiator Wendy Cutler said she does not see the US going back to being a global leader on issues such as trade and climate change, even after President Donald Trump's second term. 'It's going to be a very different (America), I don't see us again becoming the guardians and the leaders of this rules-based trading system,' said Ms Cutler, who is vice-president of the Asia Society Policy Institute. Short of that, there are things that the US and other countries can do to keep globalisation going, such as with smaller groups of like-minded countries working together and striking sectoral agreements, she added. Fellow panellist Muhamad Chatib Basri said one way that Asean countries can do so, perhaps even with external partners, is through flexible coalitions where common ground can be reached. The former Indonesian finance minister said such issues of mutual interest include pandemic resilience and energy security, particularly in renewables. Mr Menon highlighted two other ways in which a renewed globalisation could take shape: countries' desire for greater supply chain resilience, and new drivers of integration such as the digital and green economies. On the first, he noted that the trend is towards diversification and near-shoring to manage supply chain risks. Climate change and the attendant impact on food supplies and trade routes also mean countries need to go beyond traditional risk assessments to understand their supply chain vulnerabilities, he added. On the flipside, the likelihood is that the digital and green economies will be key pillars of future growth, which represent new opportunities for deeper economic integration between countries. These include areas such as common standards for environmental goods and services, the cross-border flow of green finance, and trading of carbon credits, said Mr Menon. But he emphasised that the most important enabler of continued globalisation is for countries to have sound economic and social policies that deliver shared prosperity at home. Much of the current backlash against globalisation is due to countries failing to upskill their workforce, bring in new investments, and consciously spread the benefits across their societies, he added. During the question-and-answer segment, Ambassador-at-Large Tommy Koh asked whether, in this new paradigm, countries should get used to a world without American leadership. He noted that the US today is against free trade, globalisation and multilateralism. It has also withdrawn from institutions such as the World Health Organisation and global pacts such as the Paris Agreement . Yet, all these things are not dead, he noted. 'America is important, but it is not indispensable. We should get used to the idea of a world without America,' he said to applause from the audience. Ms Cutler said in reply that the US is a diverse country, and that while President Trump is pursuing certain policies, it does not mean he has unanimous support from Americans. 'Maybe you don't like some of the stuff we're doing now, but that doesn't mean the world doesn't need or doesn't want America, or America can't help... or change, looking forward,' she said. 'So I would just caution everyone to avoid this black-and-white kind of description of where things stand.'
The Hindu
25-07-2025
- Business
- The Hindu
Review of Work, Wisdom, Legacy, essays compiled by Y.V. Reddy and others
Work,Wisdom, Legacy is an intellectually stimulating anthology that gathers reflections from 31 prominent Indian figures, offering a panoramic view of what work means in the Indian context—across generations, professions, and value systems. Compiled by former RBI Governor Y.V. Reddy alongside Ravi Menon, Shaji Vikraman, and Kavi Yaga, the book is as much about personal journeys as it is about societal evolution through the lens ofwork. Each essay, distinct in voice and perspective, forms part of a larger tapestry that explores the ethics, purpose, and transformation of work. What makes the collection powerful is not just the stature of its contributors—which includes policymakers like Yashwant Sinha and P. Chidambaram, business leaders like N.R. Narayana Murthy and K.V. Kamath, and thinkers like Arun Shourie—but the honesty and nuance they bring to their experiences. Reflections on the journey Rather than reducingworkto a matter of efficiency or economic necessity, the essays reflect on its moral and emotional dimensions. For instance, many authors examine how early family values, personal mentors, or pivotal career moments shaped their philosophies. There's a recurring emphasis on integrity, humility, and the pursuit of excellence, not merely for material reward, but for fulfilment and legacy. Y.V. Reddy's essay, 'God Laughs and Other Reflections,' provides a foundational tone for the book. Drawing on personal anecdotes, he articulates the importance of what he calls the three Is: intellect, industry, and integrity. His reflections suggest that the people we choose toworkwith—and the values they uphold—are as significant as theworkitself. This sentiment is echoed across the anthology, making a subtle but strong case for ethics in public and private life. What also emerges is Reddy's broader philosophical stance, captured in his emphasis on 'assessing, not judging' others, an approach that encourages empathy and perspective over prescriptive thinking. At the book's launch, fellow contributors echoed how this mindset shaped their professional ethos, adding that the essays offer not just inspiration but introspection. The volume's strength also lies in its diversity. The authors span various domains, governance, law, banking, entrepreneurship, media, and each brings a distinct outlook. For example, some grapple with the shift from state-led development to liberalisation, while others discuss the challenges of leadership in a corporate environment undergoing rapid technological change. The essays are not instructional; they're contemplative. They do not prescribe a single definition of success but invite readers to define it for themselves. Contemporary relevance The editors skilfully avoid making the book feel nostalgic or dated. Instead, the essays collectively offer a timeless relevance. As India's youngworkforce navigates a volatile, competitive, and digitised job landscape, this book becomes a quiet guide, urging readers to look inward even as they strive outward. Work,Wisdom, Legacy does not just celebrate achievements. It honours the long, often winding road to meaningful work. In doing so, it urges the reader to consider legacy not as the residue of power or wealth, but as the impact one has on others, through decisions, actions, and values. In a time when conversations aboutworkare often framed around burnout, hustle, and metrics, this book is a welcome change. It's reflective, rooted, and deeply human. Work, Wisdom, Legacy: 31 Essays from India Compiled by Y.V. Reddy, with Ravi Menon, Shaji Vikraman, Kavi Yaga Orient BlackSwan ₹850
ME Construction
21-07-2025
- Business
- ME Construction
Sobha Realty announces the Sobha Privy Collection and launches ‘The S'
Property Sobha Realty announces the Sobha Privy Collection and launches 'The S' By The new tower is envisioned as an equilateral triangle sculpted at the apex of the district's canal arc Sobha Realty has unveiled its Sobha Privy Collection brand, which is said to encompass a new era of ultra-luxury living that embodies the design philosophy – The Art of Sublime. Sobha Privy Collection is characterised by seven fundamental principles – expansive living spaces, iconic addresses, unparalleled finesse, exceptional service, exclusive amenities, extraordinary privacy, and a distinct quality that elevates each home above the rest, said a statement. Marking the launch of the new brand, the developer has unveiled a new ultra-luxury development, 'The S' at Sobha Hartland II. According to the firm, this architectural landmark, the final and tallest reveal within the masterplan, is inspired by the 'The S' on Sheikh Zayed Road. The new tower is envisioned as an equilateral triangle sculpted at the apex of the district's canal arc, providing breathtaking 270-degree panoramic views across Downtown Dubai, the central lagoon, and beyond, the firm said in a statement. Ravi Menon, Chairman of Sobha Group said, 'Sobha Privy Collection reflects our pursuit of purity in design and perfection in detail. With 'The S' at Sobha Hartland II, we are presenting residences that speak the language of grandeur, stillness, elegance, and enduring value for those who resonate with the extraordinary.' Loai Al Fakir, CEO of Provident Real Estate added, ''The S' wasn't just another development; it was a project that demanded attention. From the design to the delivery, Sobha Realty brought something truly refined to the table, and we knew right away it was worth backing. Being part of its success wasn't just exciting; it reaffirmed why we do what we do.' Extending beyond a single address, Sobha Privy Collection comprises a selection of residences across the developer's projects, including the mansions and villas at Sobha Hartland II Estates, duplexes and Penthouses at SeaHaven, The S – Sheikh Zayed Road, and now, 'The S' at Sobha Hartland II. Each home is shaped with layouts, locations, personalised details, and a quiet focus on privacy, coming together to reflect the care and craft that define the Sobha way, the developer explained. Huimin Wang, Managing Director of Fastway Real Estate commented, 'When Sobha Realty introduced The S on Sheikh Zayed Road, it represented a bold vision of luxury; brought to life with unmatched precision and craftsmanship. Now, as it reaches completion, it stands as a testament to that promise and to everyone who believed in it from the very beginning.' Residences begin from the eighth floor upward, preserving uninterrupted vistas and heightened privacy. The S is a 71-storey tower with just two expansive, villa-scale residences per floor. The design features a floor-to-floor height of four metres with a clear unobstructed glazing expanse, intuitive spatial separation, panoramic master suites, private terraces, and spa-inspired bathrooms bathed in natural light, the statement outlined. At The S, residents experience luxury from the moment they arrive, with a stunning triple-height grand lobby, and concierge and valet services. Every element is shaped by Sobha's hallmark: an obsessive attention to detail refined over decades of craftsmanship. Designed for the global connoisseur, Sobha Privy Collection presents homes as rare and considered, as the lives they are meant to reflect, it added. The S, the final chapter in the Sobha Hartland II story, pays homage to Sobha's legacy while forging a new path. Offering experience of space, tranquility, and refined living. With future additions planned across waterfronts, islands, and skyline-defining destinations, Sobha Privy Collection continues to redefine the modern concept of prestige, rooted in timeless principles of clarity, craftsmanship, and The Art of Sublime, it concluded.
Khaleej Times
18-07-2025
- Business
- Khaleej Times
Sobha Privy collection redefines luxury living amid Dubai's HNWI influx
Dubai's rise as a magnet for millionaires is reshaping the city's real estate narrative. According to Henley & Partners, the UAE is projected to welcome the highest number of high-net-worth individuals globally in 2025, with around 9,800 millionaires expected to relocate. This influx is accelerating demand for residences that offer more than luxury; homes that reflect stature, legacy, design excellence, and a transformed living. Leading this evolution is Sobha Realty, the global luxury developer renowned for its 'Art of The Detail' philosophy. With the Sobha Privy Collection, the company presents an ode to the 'Art of Sublime' living, crafted for those who seek the exceptional. Described by Ravi Menon, chairman of Sobha Group, 'It's a reflection of our pursuit of purity in design and perfection in detail. We are presenting residences that speak the language of grandeur, stillness, elegance, and enduring value for those who resonate with the extraordinary.' The collection includes signature residences across Sobha's flagship developments. These feature the grand villas and mansions at Sobha Hartland II Estates, sky-mansion penthouses at Sobha SeaHaven, and the iconic 'The S' on Sheikh Zayed Road. The newly launched The S at Sobha Hartland II, inspired by 'The S' on Sheikh Zayed Road, is the tallest tower in the award-winning community and the latest addition to Sobha Privy Collection. With its bold equilateral-triangle form and 270-degree Downtown views, each residence features 4-meter floor-to-floor height and unobstructed glazing expanse that amplifies space, light and views. According to Loai Al Fakir, CEO of Provident Real Estate, who previewed 'The S': ''The S' wasn't just another development; it was a project that demanded attention. From the design to the delivery, Sobha Realty brought something truly refined to the table, and we knew right away it was worth backing. Being part of its success wasn't just exciting; it reaffirmed why we do what we do.' While Huimin Wang, managing director of Fastway Real Estate, said: 'When Sobha Realty introduced 'The S' on Sheikh Zayed Road, it represented a bold vision of luxury; brought to life with unmatched precision and craftsmanship. Now, as it reaches completion, it stands as a testament to that promise and to everyone who believed in it from the very beginning.' As Dubai continues to magnetise the world's ultra-wealthy, Sobha Privy Collection reflects not just the city's growth, but its transformation into a true global capital of refined living.
Zawya
18-07-2025
- Business
- Zawya
Sobha unveils ultra-luxury Privy Collection in Dubai
Sobha Realty, a leading global luxury developer, has announced the launch of Sobha Privy Collection, a new pinnacle in ultra-luxury living, rooted in the design philosophy: The Art of Sublime. The Sobha Privy Collection is defined by seven core tenets: expansive spaces, iconic addresses, uncompromising finesse, exceptional service, exclusive amenities, extraordinary privacy, and a distinct quality that sets each home a cut above the rest; all serving as the common thread across each residencem, said the developer in a statement. Marking entry into this elite zone is the new uber-luxe development– The S at Sobha Hartland II. This tower is a striking architectural landmark and the final, tallest reveal within the award-winning Sobha Hartland II masterplan. Inspired by the iconic 'The S' on Sheikh Zayed Road, the new tower is envisioned as an equilateral triangle sculpted at the apex of the district's canal arc, offering 270-degree panoramic views across Downtown Dubai, the central lagoon, and beyond, it stated. Commenting on the launch, Ravi Menon, the Chairman of Sobha Group, said: "Sobha Privy Collection reflects our pursuit of purity in design and perfection in detail. With 'The S' at Sobha Hartland II, we are presenting residences that speak the language of grandeur, stillness, elegance, and enduring value for those who resonate with the extraordinary." Conceived for global elites, 'The S' at Sobha Hartland II is imagined as a rarefied reserve of form, flow, and finesse. Residences begin from the eighth floor upward, preserving uninterrupted vistas and heightened privacy. The S is a 71-storied tower with just two expansive, villa-scale residences per floor. The design embodies a quietly opulent rhythm, featuring a floor-to-floor height of 4m with clear unobstructed glazing expanse, intuitive spatial separation, panoramic master suites, private terraces and spa-inspired bathrooms bathed in natural light. At The S, residents experience luxury from the moment they arrive, with a stunning triple-height grand lobby, and concierge and valet services. Every element is shaped by Sobha's hallmark: an obsessive attention to detail refined over decades of craftsmanship, said the developer. Extending beyond a single address, Sobha Privy Collection comprises a handpicked selection of residences across the developer's most elite developments, including the mansions and villas at Sobha Hartland II Estates, Duplexes and Penthouses at SeaHaven, The S - Sheikh Zayed Road, and now, 'The S' at Sobha Hartland II. Each luxury home is shaped with thoughtful layouts, exceptional locations, personalised details, and a quiet focus on privacy, coming together to reflect the care and craft that define the Sobha way. Reflecting on the exclusive experience at 'The S' on Sheikh Zayed Road, Loai Al Fakir, CEO of Provident Real Estate, said: "The 'S' wasn't just another development; it was a project that demanded attention. From the design to the delivery, Sobha Realty brought something truly refined to the table, and we knew right away it was worth backing. Being part of its success wasn't just exciting; it reaffirmed why we do what we do." Adding to this sentiment, Huimin Wang, Managing Director of Fastway Real Estate, said: "When Sobha Realty introduced 'The S' on Sheikh Zayed Road, it represented a bold vision of luxury; brought to life with unmatched precision and craftsmanship. Now, as it reaches completion, it stands as a testament to that promise and to everyone who believed in it from the very beginning." Designed for the global connoisseur, Sobha Privy Collection presents homes as rare and considered, as the lives they are meant to reflect, said the Dubai developer. As the final chapter in the Sobha Hartland II story, The S reflects Sobha's legacy while charting a new path, demonstrating more than traditional luxury by delivering a deeper experience of space, calm, and refined living. With future additions envisioned across waterfronts, islands, and skyline-defining destinations, Sobha Privy Collection continues to shape a modern vocabulary of prestige anchored in the timeless principles of clarity, craft, and The Art of Sublime.-TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
