Reuters
9 May 2008
SINGAPORE, May 9 (Reuters) - Singapore's sovereign fund GIC, one of the world's biggest state-owned investors, warned on Friday that risks to the global economy could rise in the next 12 months due to falling house prices and a spike in energy costs.
The comments by Government of Singapore Investment Corp Deputy Chairman Tony Tan come after he cautioned last month that financial markets would remain fickle and the world could face its worst recession in 30 years -- a scenario that was widely perceived as being too gloomy.
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