Indian Outsourcing Companies that process mortgages are seeing a decline in work orders and loss of revenues because of the US sub-prime problem. Several companies have re-deployed their staff. Others fear there could be layoffs if the crisis in US worsens further.
Foreign Funds Outflows From Singapore Treble to $207 m.
Overseas Investor Pull Out $4b from Asia Pacific region after Strong Rebound in Stocks! Hong Kong was the Only Exception. Investments there by foriegn funds more than doubled to US$67.2 million. This was after China said it would allow its citizens to invest directly in Hong Kong equities.
The Monetary Authority Of Singapore yesterday raised its inflation forecast for this year to between 1 and 2 %. This comes after last week's consumer price figures showed a 2.6% rise. The figures in June showed a 1.3% rise instead.
Source: The Straits Time
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