Daily Briefing: MAS warns of disastrous effect of trade conflicts; Is the property market heading towards stabilization

And here are five easy ways to earn extra cash in Singapore.

The global economy will face “disastrous consequences” if U.S. protectionist measures proposed by incoming President Donald Trump prompt trade wars, the head of Singapore’s central bank said. Some of the possible actions -- such as rejecting a U.S.-Pacific trade deal, extra taxes on U.S. importers and labeling major trade partners as currency manipulators -- “may well attract retaliatory measures,” Ravi Menon, managing director of the Monetary Authority of Singapore, said in a speech at a local conference on Monday. Read more here.

Singapore's once-bubbly property market has been stabilizing in the wake of a slew of cooling measures, the city-state's central bank chief said. "The measures that have been taken have -- with each passing month and quarter I think we can say with a little more confidence -- made a fair amount of progress towards stabilizing the market," Ravi Menon, managing director of the Monetary Authority of Singapore (MAS), said at the UBS Wealth Insights conference in Singapore on Monday. Check out the full story here.

According to the BBC, Singapore is one of the costliest countries to live in. With the prices of food and daily necessities increasing faster than wages, it is no wonder that many of us are looking to make some extra cash on the side. Here are five easy-to-implement ways to generate some additional income without quitting your day job.