News releases - Recent global and Singapore news releases issued by Ernst & Young - Ernst & Young - Singapore

News releases

Recent global and Singapore news releases issued by Ernst & Young.

February 2012 

• US Treasury and IRS releases proposed FATCA regulations
  Singapore, 9 February 2012
  The US Treasury and Internal Revenue Service (IRS) released the proposed Foreign Account Tax Compliance Act (FATCA) regulations on 8 February 2012. FATCA is a new US law aimed at foreign financial institutions (FFIs) and other financial intermediaries to prevent tax evasion by US persons through the use of offshore accounts.
• Singapore takes third spot on Globalization Index 2011
  Singapore, 8 February 2012
  Singapore ranks third after Hong Kong and Ireland on Ernst & Young’s Globalization Index 2011, which measures the world’s 60 largest economies according to their degree of globalization relative to their GDP. The overall rank for Singapore remains the same as last year.
• Most Asian Oil & Gas deals in 2011 are outbound investments to secure energy supplies
  Singapore, 6 February 2012
  Globally, 1,322 oil and gas transactions were announced in 2011, an increase of more than 5% compared to 1,258 in 2010, proving that this remains one of the most resilient global sectors for mergers and acquisitions.
• Events of 2011 will continue to shape the Oil and Gas industry in 2012
  Singapore, 3 February 2012
  Key events and trends in 2011 frame Ernst & Young’s Oil & Gas expectations for 2012. Issues such as geopolitical upheaval, the Fukushima nuclear power plant disaster, high oil prices, as well as environmental and safety concerns have all provided real challenges in the period under review. On a more positive note, shale gas developments have surged ahead in China, Poland and Argentina.
• Rapid-growth markets will continue to contribute nearly half of the world’s growth over the next three years
  Singapore, 2 February 2012
  While rapid-growth markets (RGMs) will remain a major destination for investors, in the near term, they are showing the strains from the falloff in demand from the Eurozone, as well as the buffeting to financial markets and business confidence over the past few months. As a result, growth in 2012 is expected to be lower than forecast by Rapid-Growth Markets Forecast (RGMF) in October.

January 2012 

• Resilient rapid-growth markets to fend off strain of Eurozone crisis
  Singapore, 19 January 2012
  Slackening demand, turbulent and volatile markets and credit liquidity problems in Europe are beginning to squeeze rapid-growth markets (RGMs) but not to the extent of derailing robust economic performance. The RGMs are expected to grow collectively by 5.3% this year, in stark contrast to the mild recession expected in the Eurozone in H1 2012 and modest growth in the US, according to Ernst & Young’s quarterly Rapid-Growth Markets Forecast (RGMF) released today.
• Mark Weinberger elected next Global Chairman and CEO of Ernst & Young
  Singapore, 17 January 2012
  Ernst & Young is delighted to announce that Mark Weinberger has today been named its next Global Chairman and CEO. Weinberger will succeed current Global Chairman and CEO Jim Turley, who announced recently that he will retire on 30 June 2013, having led Ernst & Young since 2001.
• Ernst & Young Asean Art Outreach program presents Strange Dreams, a solo debut in Singapore by Vietnamese surrealist artist Phạm Huy Thông
  Singapore, 10 January 2012
  Ernst & Young opens Strange Dreams, the tenth exhibition of its Asean Art Outreach program today. In this exhibition, Vietnamese artist Phạm Huy Thông explores social and economic issues facing his country, and draws inspiration from Vietnamese mythology and modern society.