PRESS DIGEST - Singapore newspapers - August 27
SINGAPORE, Aug 27 (Reuters) - The following are stories from Singapore newspapers on Wednesday. Reuters has not verified these stories.
THE STRAITS TIMES
- A slump in July's manufacturing output has led economists to cut back their growth forecasts for the economy. Production fell 21.9 per cent year-on-year, worse than expected, and some economists now expect growth of as low as 3.3 percent for the year, down from 5 percent or more.
- Developer Wing Tai (WTHS.SI) said it is in no hurry to launch the two sites it owns in Singapore's prestigious Ardmore Park area, and sees home prices remaining mostly stable until at least 2010 despite some weakening in prices now.
- ASEAN has unveiled a set of new measures to push the region closer towards economic integration, including proposals towards dismantling non-tariff barriers and facilitating the flow of skilled workers like dentists and doctors.
BUSINESS TIMES
- Visitor arrivals continued to decline in July with a 3.8 percent drop compared to a year ago, in another indication that Singapore could fall short of its 10.8 million visitors target for the year. About 916,000 visitors travelled to Singapore last month, the highest since the start of the year, data from the Singapore Tourism Board (STB) showed.
- Parliament has passed a new bill for more foreign competition in the legal profession, allowing foreign firms to practise Singapore law through Singapore-qualified lawyers in some permitted areas. But areas of law such as litigation, conveyancing, family and probate law are excluded. ((Singapore Newsroom +65 6403 5677, singapore.newsroom@reuters.com))
