THE Economic Development Board (EDB), which has been hugely successful in attracting big foreign companies to set up job-creating operations in Singapore, is now turning its sights on rich individuals.

It has teamed up with the Ministry of Manpower (MOM) to scour the globe for rich, entrepreneurial foreigners to start businesses in Singapore - creating vital new jobs.

Together, EDB and MOM will run Contact Singapore - an 11-year-old programme previously run by MOM alone. Contact Singapore’s main objective was getting talented individuals to work in the Republic.

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Inflation is greater worry for S’pore

CONSUMERS in the United States need to repair their balance sheets. They are heavily leveraged. They need to save more.

We are looking for signs of recovery for the US housing market. The reduction in property values has a wealth effect and will affect consumer spending.

We are looking at a U-shaped recovery at least over the next two years or so. We will be examining the financial reports of the players, to see if they have hit the bottom.

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