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S&P gives Singapore top AAA rating

Standard and Poor’s Ratings Services (S&P) has issued a top AAA unsolicited rating on Singapore following the country’s 2015 budget announcement.
Standard and Poor’s Ratings Services (S&P) has issued a top AAAunsolicited rating on Singapore following the country’s 2015 budgetannouncement.

Singapore’s 2015 budget shows “the strength of thegovernment’s institutional and governance effectiveness” even as itspopulation ages at one of the fastest rate in Asia.

The 68.2 billion SGD budget focuses on dealing with long termchallenges in addition to retrain workers and increase support for localhouseholds and capacity of transportation and health services. It willhelp maintain Singapore’s position both regionally and globally.

The Singaporean government forecast a projected budget deficit of 6.7billion SGD in the 2015 fiscal year ending March 2016. S&P estimatesthat the general government account will remain in surplus over the2014 and 2015 fiscal years.-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)

ඣ 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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