Latest news with #risingcosts
Independent Singapore
3 days ago
- Business
- Independent Singapore
Trade costs force 42% of Singapore firms to raise prices, HSBC finds
Photo: Depositphotos/realinemedia SINGAPORE: Rising costs due to tariffs and other trade-related factors, the biggest concern for almost six in 10 Singapore businesses, have led 42% of companies to increase their prices, according to Singapore Business Review , citing a recent HSBC report. In addition to those that have already raised prices, 44% plan to do so soon, and 42% have increased their inventory levels to manage supply disruptions. Rising costs and supply disruptions have also led eight in 10 businesses to reconsider their long-term strategies. Meanwhile, 86% say uncertainty around trade has made them more cautious to expand or invest. When it comes to international trade growth in the coming years, 83% of Singapore companies feel less confident compared to their global peers. In terms of trade dynamics, half of Singapore firms plan to increase trade with South Asia, including ASEAN, India, and China. Beyond Asia, 46% aim to trade more with Europe, and 38% with the Middle East. Last week, Ang Yuit, president of the Association of Small and Medium Enterprises (ASME), warned that some Singapore firms could go into 'life support mode' once the 90-day pause on US tariffs ends. /TISG Read also: 42% Singapore employers to expand their permanent headcount in H12025, with more focus on non-monetary perks Featured image by Depositphotos (for illustration purposes only)
CTV News
6 days ago
- Business
- CTV News
High costs force organizers in Timmins to cut some events, including Ribfest
Two organizations in Timmins say rising costs have forced them to cancel two high-profile summer events in the city, including Ribfest.
Yahoo
18-05-2025
- Business
- Yahoo
Edinburgh cafe closes business with a 'heavy heart' due to 'rising costs'
An Edinburgh café owner has been forced to close their doors for good due to rising costs. The White House Kitchen on Niddrie Mains Road in the Craigmillar area of the city shared the sad news with their loyal customers on social media, saying that many factors, including rising costs, have led to this difficult decision. They wrote: "It is with a heavy heart that we announce the closure of our business. This decision has been incredibly difficult for us, but due to rising costs and various other factors over the years, we can no longer continue operating. READ MORE: Edinburgh filmmaker warns 'we need to be honest about what's happening on schemes' READ MORE: Edinburgh man called 999 and warned 'I have a knife' as he walked down train tracks "We sincerely thank all of our loyal customers, both regulars and newcomers, for their support throughout the years. Your kindness and patronage have meant the world to us. "Thank you once again for being a part of our journey." The White House Kitchen offered breakfast and brunch options at an affordable price and will be sorely missed by those in the community. One person commented: "I'm going to miss this place, pure great people. You all done amazing." Another added: "Sad." The café has now closed permanently with immediate effect. It comes after a vital community pantry on the same street was forced to close their doors after they were unable to secure funding. The Green House Pantry offered its members, who paid a weekly subscription of just £4.50, access to food and essentials including fresh fruits and vegetables. The service also hosted free workshops and classes in cooking and food growing. It hoped to create a 'sense of control' when it came to food and community. Sadly, when they were unable to secure funds they faced an "unavoidable" closure and ceased operations on April 11. Their statement at the time read: "It is with great sadness and regret that the community alliance trust has taken the decision to close the Green House Pantry. "This was a very difficult decision to make and is unavoidable. We have not been able to secure funds to cover the pantry's core costs - staff, rent, electricity etc. "We are sorry that we do not have any alternative. We will continue to supply fresh fruit and vegetables to other local food outlets e.g. at The Hay and The Thistle. "The closure will be effective from April 11." Join Edinburgh Live's Whatsapp Community here and get the latest news sent straight to your messages.
