Billionaire developer Kwek Leng Beng said last year that skyrocketing prices and restrictive rules made buying residential land in Singapore “suicidal.” That hasn’t stopped international developers from rushing in.
Singapore will bar an Indonesian warship named after marines who bombed a building on the island in 1965 from calling at its ports and naval bases or taking part in joint military exercises, said Defence Minister Ng Eng Hen.
Indonesia’s top army officials will skip the Singapore Airshow as tensions escalated between the two nations after Indonesia stood by its decision to name a navy ship after marines who bombed a building on the island in 1965.
Indonesia is growing at 6 percent, has rejoined the ranks of investment-grade nations, and after decades under the corrupt and repressive Suharto, has reaffirmed its place as the world’s third-largest democracy. Yet somehow enough Indonesians remember the Suharto years fondly that his Golkar Party has hopes of regaining power in upcoming elections.
The political party that has ruled Singapore since independence in 1965 is seeking to overhaul its image with voters after the narrowest election victory on record signaled a shortfall in support among younger voters.
Economic miracles sometimes need course corrections, even in Singapore, which last year was home to more U.S. dollar-millionaire households per capita than any other country, according to Boston Consulting Group Inc.