Latest news with #SwatiPandey
Bloomberg
4 days ago
- Business
- Bloomberg
It's Not Just Trump Vs Harvard as Global Universities Turn Inward
I'm Malcolm Scott, international economics editor in Sydney. Today, Swati Pandey looks at the international student market. Send us feedback and tips to ecodaily@ And if you aren't yet signed up to receive this newsletter, you can do so here. Even before Trump began his calls for a cut to foreign student numbers at universities including Harvard and threatened funding for non-compliant schools, other major education destinations had already begun turning inward.
Bloomberg
24-05-2025
- Business
- Bloomberg
Singapore Is Warning of a Recession: Here's What to Look For
Each week we bring you insights into one of Asia's most dynamic economies. If you haven't yet, please sign up here. This week, Swati Pandey considers the government's recent economic warning, while Ainslee Asokan looks at events in neighboring Malaysia that show an evolving trend as the tariff war begins to influence behavior.
Yahoo
22-05-2025
- Business
- Yahoo
Singapore flags recession risks after strong start to 2025
By Swati Pandey (Bloomberg) – Singapore flagged the risk of a technical recession due to global tariff tensions even after its economy kick-started 2025 on a faster-than-expected note. Gross domestic product grew 3.9% in the three months through March from a year earlier, the Ministry of Trade and Industry said in its final estimate on Thursday. The figure compares with a median forecast of a 3.6% growth in a Bloomberg survey of economists, and the government's advanced estimate of 3.8%. On a seasonally adjusted quarterly basis, GDP fell 0.6%, versus a forecast of 1% contraction. The Singapore dollar and the benchmark Straits Times Index were little changed following the report. The MTI maintained a recently downgraded forecast for 2025 GDP growth at 0%-2% as US tariffs clouded the outlook for global trade. Prime Minister Lawrence Wong earlier warned that a recession can't be ruled out. 'A technical recession where you have two quarters of consecutive quarter-to-quarter negative growth, that is a possibility,' Beh Swan Gin, permanent secretary at the trade ministry, told reporters. 'That doesn't necessarily equate to a full-blown economic recession' as seen in the year-on-year GDP numbers. The last time Singapore had a technical recession was at the height of the Covid-19 pandemic in 2020. Prior to that the city-state had four straight quarterly contractions from the June quarter of 2008. The better-than-expected result in the first quarter was driven by manufacturing and export activity as businesses rushed to avoid the imposition of higher US tariffs. That momentum is now at 'risk of fading,' said Charu Chanana, the chief investment strategist at Saxo Markets, adding that 'fiscal buffers and proactive policymaking in Singapore offer room to cushion any external shocks.' The data shows how the US-China trade war and China's sluggish recovery were seeping deeper into the region at the start of the year. Since then, the world's two biggest economies have called a truce, agreeing to a 90-day negotiating window under which they have lowered tariffs on each other's goods. 'The global economic outlook remains clouded by significant uncertainty, with the risks tilted to the downside,' Beh said. The uncertainty could lead to a larger-than-expected pullback in economic activity, he said, adding that a re-escalation of tariff actions may trigger a full-blown global trade war. He also warned that disruptions to the global disinflation process and recession risks could destabilise capital flows. Against this background, the growth of 'outward-oriented sectors' such as manufacturing, wholesale trade, transportation and storage, is expected to slow this year. Finance and insurance sectors are also likely to be weighed down by weaker trading activity while the outlook for consumer-facing sectors is lacklustre. With trade accounting for about three times its GDP, Singapore remains acutely exposed to any sustained slowdown in global commerce. The trade ministry said it will adjust its growth forecast as needed. Key details from the GDP print: Manufacturing: up 4% y/y Construction: up 5.5% y/y Services-producing industries: up 3.6% y/y The Monetary Authority of Singapore will make a 'comprehensive assessment' in the run-up to its July policy meeting, MAS Deputy Managing Director Edward Robinson said at the same briefing. 'The policy stance remains appropriate as of now,' he said. Last month, the MAS eased its monetary policy settings for the second time this year. Bloomberg Economics expects a 0.9% growth this year, though it sees some upside risk from the 90-day US-China trade truce. Another supportive factor for Singapore was the outcome of this month's election. 'The strong showing of Singapore's ruling People's Action Party in the general election on May 3 reduces uncertainty at a critical juncture — as businesses and investors navigate US President Donald Trump's upending of global trade and security relationships,' said Tamara Mast Henderson, ASEAN economist for Bloomberg Economics. (Adds market reaction in third paragraph, analyst comment in seventh paragraph, chart.) More stories like this are available on ©2025 Bloomberg L.P.
Bloomberg
15-05-2025
- Business
- Bloomberg
RBA Urged to Defy Expectations And Keep Rates on Hold
Good morning, it's Amy here in Melbourne with your Friday newsletter. Today's must-reads: • Ex-RBA board member urges rate pause • Our latest podcast on banks • Rio Tinto's aluminum plans Former Reserve Bank of Australia board member Warwick McKibbin thinks the central bank should keep interest rates unchanged next week. He spoke with my colleague Swati Pandey, citing fiscal stimulus and global uncertainty. Most economists and traders expect the RBA to cut its key rate to a two-year low of 3.85% on Tuesday.
Chicago Tribune
25-04-2025
- Business
- Chicago Tribune
Northbrook OKs cannabis infuser facility that makes THC gummies
A company that makes THC-laced gummies and vape pens has received approval to manufacture in Northbrook, though no products will be sold onsite. Village trustees gave a Skokie company a special use permit earlier this month to operate a cannabis infuser facility in an industrial district in the northwest corner of the village. Cheetah Illinois, LLC, plans to manufacture and distribute resin vape pens and cannabis-infused gummy products, Northbrook senior planner Swati Pandey said in a report to the Village Board. The board voted unanimously to approve the proposal as part of its consent agenda on April 8. Cheetah's Big Cat gummy contains 50mg of live resin, is gluten free and comes in four flavors, including blood orange, mango, watermelon and grape limeade, company officials said. 'Product development lead was (a) former Michelin star chef who brings experience in creating and commercializing high quality and shelf stable retail products,' they said in a 34-page report provided to the Village Board. Cheetah plans to lease 14,549 square feet at 306-310 Era Drive, located in an I-1 restricted industrial district, Pandey said. The property is one of two spaces leased at the site and is currently vacant, she said. 'The subject property would be purchased by 306 Era Drive LLC, and the current and future owner have consented to this use,' Pandey said. 'The applicant has stated that they will not grow any cannabis on the subject property.' All operations will take place inside Cheetah's building, including delivery of supplies and pick-up of products in an existing loading bay accessed through a garage door on the north side of the building, she said. 'There will be no on-site retail sales or cannabis dispensary options at this facility,' Pandey said. Cheetah officials are in the process of obtaining an Illinois infuser license from another company, they said. Production cannot begin until the license is transferred and approved by the Illinois Department of Agriculture. Cheetah plans to operate on the site from 8 a.m. to 6 p.m. Monday through Saturday and remain closed on Sundays, the report said. The company plans to hire 15-25 employees, it said. The report outlined high security measures for receiving, handling, storing and processing THC oil. It said day-to-day operations will include: A licensed transporter will deliver THC oil through docks inside the building. Cheetah will document all oil received at the site. The company will store all THC oil in a secured vault. Cheetah will remove the oil from the vault only when it will be infused into its vape pens or gummy products. After infusion, the THC oil will be returned to the secured vault. 'At no point shall Cheetah LLC handle or store any THC oil or other materials outside the building, and Cheetah LLC shall conduct all of its operations within the interior of the building on the property,' the report said. The company will not produce cannabis concentrate to convert into resin, oil or other forms, said Anthony Ochs, an attorney for Cheetah. 'Cheetah will not be processing, growing or manufacturing hard materials,' Ochs said. 'Instead, Cheetah's operations will be to take finished THC oil and put them in products they design like parts of their vape pens or gummies.' The company plans to install security cameras inside and outside the building, Pandey said. The security plan was reviewed and approved by the Northbrook Police Department, she said. The proposal requires 70 parking spaces, including parking for an existing tenant, Pandey said. The property currently contains 77 spaces, she said.
