By Gracia Chiang

Call it down and out of Singapore.

Amid leaner economic times, companies here are cutting costs and one option is to reduce the number of expatriates.

At least one employer - Fortis Bank - has asked some of its foreign staff to pack their bags, and the recent job cuts announced by financial giant Citigroup could see more departures.

Fewer Shoppers?

Jostle for customers starts now as retailers expect cautious spending

By Tan Dawn Wei

Is it going to be 'ho, ho, ho' - or 'ho, ho, hum' - for business this Christmas?

That's the challenge facing retailers here as they gear up for their most important sales period - the year end. This can easily account for 30 to 40 per cent of their entire year's sales, said Mr Steven Goh, spokesman for the Orchard Road Business Association.

But given the economic downturn, retailers and malls expect shoppers to tighten purse strings and look out for bargains.

For more The Straits Times stories, click here.