09 May '11, 12pm

Financial and economic crisis possible if US loses AAA rating: GIC

SINGAPORE : A major financial and economic crisis could erupt if the US loses its triple A credit rating in a disorderly manner, according to the Government of Singapore Investment Corp (GIC). Dr Tony Tan, Deputy Chairman and Executive Director of GIC, made the comments at the investment firm's 30th anniversary conference. He also said that this makes the future economic and investment environment unusually uncertain. The global economy is on a firmer footing now, shown by stronger jobs data out of the US economy last Friday. Non-farm payrolls, the key measure of employment in the US, showed 244,000 jobs were added to the economy last month. But there are fresh concerns on the triple-A credit rating of US government debt, which has already been put on negative watch by ratings agency Standard and Poor's. And GIC said such a downgrade could cause another financial and econo...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

Tweets

Risk of crisis if US loses AAA rating: GIC

todayonline.com 09 May '11, 9pm

SINGAPORE - A major crisis could erupt if the United States loses its triple-A credit rating, according to Government of S...

Singapore GIC Warns Of Risk If US Loses AAA Rat...

sharesinv.com 10 May '11, 3am

Government of Singapore Investment Corp (GIC) Deputy Chairman Tony Tan said Monday that a major financial and economic cri...

Dollar slips on poor US economic data

channelnewsasia.com 19 May '11, 11pm

NEW YORK - The dollar lost ground to the euro Thursday against the euro on a sheaf of poor reports that suggested the US e...

US stocks sink amid economic woes

channelnewsasia.com 13 May '11, 9pm

NEW YORK: US stocks ended the week mired in red Friday as investors shrugged off US inflation and consumer confidence repo...

Analysts warn of looming threats to global economic recovery

Analysts warn of looming threats to global econ...

channelnewsasia.com 13 May '11, 3pm

SINGAPORE : Analysts warn that looming risks such as large fiscal deficits and high inflation are potential dampeners of e...

GE: New economic problems have set in post cris...

channelnewsasia.com 03 May '11, 6am

SINGAPORE : Finance Minister Tharman Shanmugaratnam has said that a new set of economic problems have set in post-global c...