Asian Cities Dominate the List of Most Expensive Locations for Working Abroad

Asian Cities Dominate the List of Most Expensive Locations for Working Abroad

Mercer’s 2017 Cost of Living Survey ranks Luanda, capital of Angola, Hong Kong, Tokyo, Zurich and Singapore as the top 5 most expensive cities for expatriates. The costliest city is Luanda which is driven up by cost of goods and security. Asian cities dominated the rankings with five in the top 10. Hong Kong, is followed by Tokyo (3), Singapore (5), Seoul and Shanghai (8).

“Asian cities dominated the rankings with five in the top 10.”

~ Mercer

The annual survey uses New York as its base point of comparison and includes more than 400 cities across five continents, measuring the cost of more than 200 items including housing, transportation, food, clothing, household goods and entertainment.

Related Reports: Bloomberg, Mercer


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Singapore and Hong Kong are the World’s Most Expensive Cities

Singapore and Hong Kong are the World’s Most Expensive Cities

According to the Economist Intelligence Unit’s Worldwide Cost of Living Survey, Singapore and Hong Kong have retained the top two spots as the world’s most expensive cities. Zurich was listed as the third most expensive and was the only European country amongst the top five most expensive cities. The rest of the cities are from Asia.

“According to the Economist Intelligence Unit’s Worldwide Cost of Living Survey, Singapore and Hong Kong have retained the top two spots as the world’s most expensive cities.”

~ Bloomberg

Tokyo jumped seven places to fourth position this year and Osaka climbed to fifth position, both strengthened by a surging yen. Seoul came in the sixth. Asia now accounts for 40% of the global economy.

Related Reports: Bloomberg, South China Morning Post

 


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Tudor Investment Corp to Close Singapore Desk

Tudor Investment Corp to Close Singapore Desk

Tudor Investment Corp has closed its Singapore desk as part of their global restructuring. Tudor had already dismissed 15% of their workforce last month as hedge funds have been struggling ever since the global financial crisis.

“Tudor had already dismissed 15% of their workforce last month as hedge funds have been struggling ever since the global financial crisis. “

~Reuters

Tudor has cut jobs ever since clients took out more than $2 billion this year due to lower than expected returns.  The job cuts impacted money managers who did not post profit or posted losses for the fund. Tudor’s main fund has lost 3.2% according to an investor document. Tudor has also began to hire scientists and mathematicians to help money managers with trading and step up with newer technologies.

Related Reports: Bloomberg, Business Times

 

About Tudor Investment Corp

The Tudor group of companies (“Tudor Group”) is a group of affiliated entities engaged in the management of client and proprietary assets. Paul Tudor Jones II formed Tudor Investment Corporation, the first of the Tudor Group companies, in 1980. The Tudor Group manages assets across fixed income, currency, equity and commodity asset classes and related derivative instruments in the global markets for an international clientele. The investment strategies of the Tudor Group include, among others, discretionary global macro, quantitative global macro (managed futures), quantitative equity systems and discretionary equity long

Visit: Tudor Investment Corp


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Indonesians Were Biggest Foreign Buyers of High End Units in Singapore

Indonesians Were Biggest Foreign Buyers of High End Units in Singapore

Demand for luxury housing is coming from wealthy indonesians in 2016. This year purchases by Indonesian nationals of homes valued at S$5 million or more has nearly quadrupled from last year’s total.  Indonesians were the top foreign buyers at OUE Twin Peaks tower which went on sale in July.

“This year purchases by Indonesian nationals of homes valued at S$5 million or more has nearly quadrupled from last year’s total,”

~Bloomberg

Although numbers in the official data are small, it showed that Indonesians bought 30 Singapore properties valued at S$5 million or more between start of the year and Aug. 17, compared with only eight such deals for entire 2015.  During the first half of this year, Indonesians bought 189 properties of all values in Singapore, 23 percent more than in the same period last year, data from Cushman & Wakefield Inc.

Related Reports: Bloomberg, Singapore Business Review

 

About Cushman & Wakefield

Cushman & Wakefield is an American commercial real estate services company. The company’s global headquarters is located in Chicago, with regional headquarters in New York(Americas), London (EMEA), and Sydney (APAC). Cushman & Wakefield is among the largest commercial real estate services firms with revenues of $5 billion. The firm operates in more than 60 countries and has 43,000+ employees.

Visit: Cushman & Wakefield

 


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Singapore Home Prices Post Longest Losing Streak

Singapore Home Prices Post Longest Losing Streak

Singapore home prices dropped for an 11th quarter, posting the longest losing streak on record. An index tracking private residential prices fell 0.4% in the three months ended 30th June from the previous quarter, capping the longest series of quarterly losses since 1975 when prices were first published according to data from the Urban Redevelopment Authority.

“Home values have dropped 9.4 percent from the peak in 2013 and sales have declined to about half the level that year.”

~Bloomberg

The government has signaled its reluctance to lift property tightening measures it brought in over the last seven years as it wants to avoid overheating in the market again. It is too early to relax the curbs, as doing so could result in a market rebound. Home values have dropped 9.4 percent from the peak in 2013 and sales have declined to about half the level that year.

Related Reports: Bloomberg

 

About Urban Redevelopment Authority

The Urban Redevelopment Authority is Singapore’s land use planning and conservation authority. Our mission is to make Singapore a great city to live, work and play. We strive to create a vibrant and sustainable city of distinction by planning and facilitating Singapore’s physical development in partnership with the community.

Visit: Urban Redevelopment Authority


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Singapore Loses Out to Hong Kong in Race to Be Most Competitive

Singapore Loses Out to Hong Kong in Race to Be Most Competitive

The latest results from IMD, a Swiss business school has put Hong Kong at the top of the world rankings for competitiveness. Singapore has dropped from third to fourth place. The IMD defines competitiveness as the ability of a country to create an environment in which businesses can generate sustainable value. The rankings are based on a combination of hard data and opinion surveys of more than 5,400 business executives covering four main areas: economic performance, government and business efficiency and infrastructure.

“The latest results from IMD, a Swiss business school has put Hong Kong at the top of the world rankings for competitiveness. Singapore has dropped from third to fourth place.”

~Bloomberg

Although both Hong Kong and Singapore boast low taxes, good infrastructure and easy procedures to open a business, Singapore has lost because exports in the trade reliant nation have come under pressure and there are now stricter rules on hiring foreign labour, which adds to business costs.

Related Reports: Bloomberg, Singapore Business Review

 

About IMD

IMD is a top-ranked business school. We are the experts in developing global leaders through high-impact executive education. All IMD programs and services focus on real-world challenges faced by executives. We work with our clients—individuals, teams and organizations—to resolve their issues, build capabilities and prepare for the future.

Based in Switzerland and also operating out of key locations worldwide including our Executive Learning Center in Singapore, IMD shares its host nation’s commitment to excellence while offering a unique global experience. Consistently at the top of rankings, we are intellectually and culturally diverse with no single dominant nationality and no one world view.

Visit: IMD


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