Retail, F&B, services sectors appeal for aid to weather second Phase 2(HA)

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Retail, F&B, services sectors appeal for aid to weather second Phase 2(HA)

Singapore Business2021-07-23

These sectors have been greatly affected by the 16-month “roller coaster” of tightening and loosening restrictions. The rest toPhase 2 (Heightened Alert) will undoubtedly impact the services sector ...

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Jenjorjack
·2021-07-23
Any help is appreciated during such times. Get vaccinated and rest more
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Tigertraders
·2021-07-23
Oh dear…. ;(is
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IronRoar
·2021-07-23
yea yea
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Jo2406
·2021-07-23
Wow
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Given the location of the newly found clusters especially in wet markets and food centres, these places serve a porous group of people, including vulnerable seniors, which then ‘increases the risk of undetected cryptic transmission,’” said UOB Economist Barnabas Gan, partially referencing a Ministry of Health announcement.\nThe economy as a whole might not suffer as much as the above sectors, Gan added, given the high growth seen in the manufacturing, finance and insurance, business services, and infocomm sectors.\n“While Phase 2 (HA) will likely impact the services sector, especially the food & beverage and retail industries, Singapore’s externally-facing sectors should remain relatively unscathed,” he said.\nFor its part, OCBC Bank called the return to Phase 2 (HA) a “setback” to economic growth, which was expected to recover in the second quarter.\n“The fiscal impact could be cumulative, depending on whether policymakers can squeeze out more from development project deferrals/savings and whether the duration is extended beyond one month. Hence, a larger FY21 deficit may be reasonable to expect if there are more of such episodes, and a tap on reserves may also be possible,” OCBC said in a report.\nOCBC said gross domestic product growth could fall under 7% this year following the reinstatement of tighter restrictions, whilst UOB, represented by Gan, retained its 6.5% forecast.\nThe government, in the announcement made by the Ministry of Health, said that it will announce a support package for affected businesses and workers in the coming days.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":175206006,"gmtCreate":1627031757005,"gmtModify":1703482840327,"author":{"id":"3554873215379647","authorId":"3554873215379647","name":"Jenjorjack","avatar":"https://static.tigerbbs.com/d9d4687aa5519f0d2fb1b18f916be861","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":6,"crmLevelSwitch":1,"idStr":"3554873215379647","authorIdStr":"3554873215379647"},"htmlText":"Any help is appreciated during such times. Get vaccinated and rest more&nbsp;","listText":"Any help is appreciated during such times. Get vaccinated and rest more&nbsp;","text":"Any help is appreciated during such times. Get vaccinated and rest more","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/175206006","repostId":1124111606,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":175209583,"gmtCreate":1627031551842,"gmtModify":1703482835186,"author":{"id":"4087967453749230","authorId":"4087967453749230","name":"Tigertraders","avatar":"https://static.tigerbbs.com/4181acfd075639c4037ab285ddc75802","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"4087967453749230","authorIdStr":"4087967453749230"},"htmlText":"Oh dear…. ;(is&nbsp;","listText":"Oh dear…. ;(is&nbsp;","text":"Oh dear…. ;(is","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/175209583","repostId":1124111606,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":175646873,"gmtCreate":1627030623192,"gmtModify":1703482812798,"author":{"id":"4087734129298080","authorId":"4087734129298080","name":"IronRoar","avatar":"https://static.tigerbbs.com/cf9c156b794329cc799b0ee28ca0b9b2","vip":1,"crmLevel":3,"crmLevelSwitch":1,"idStr":"4087734129298080","authorIdStr":"4087734129298080"},"htmlText":"yea yea","listText":"yea yea","text":"yea yea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/175646873","repostId":1124111606,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":175648683,"gmtCreate":1627030571042,"gmtModify":1703482811308,"author":{"id":"4088551245218400","authorId":"4088551245218400","name":"Jo2406","avatar":"https://static.tigerbbs.com/4bb694491c13b847902f15acae1dcfcb","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4088551245218400","authorIdStr":"4088551245218400"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/175648683","repostId":1124111606,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":33,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}