Singapore Economy

Singapore's GDP growth slows down to 3.8% in 2022 compared to 7.6% in 2021

In a breakdown, Singapore's manufacturing sector shrank by 3% year on year in the fourth quarter of 2022 and expanded by 2.6% in the whole year

Future Group trying to stall proceedings amid legal row with Amazon: SC

The Supreme Court said it 'was concerned' that the Future Group was trying to stall the proceedings before the Singapore Arbitral Tribunal

Manpower-short Singapore hopes foreign talent will 'anchor' in the country

Singapore, which is facing manpower shortage, hopes that the foreign talent will choose to "anchor" in the country and make it their home, but does not guarantee fast-track residency. "Granting PR (permanent residency) or citizenship to deserving global talent means that we can anchor them here to continue creating opportunities for Singapore and Singaporeans in the long run," Manpower Minister Tan See Leng told Parliament on Monday. Responding to a question, he said Singapore, though on a talent hunt globally, does not provide any guarantee or fast-track the PR (permanent residency) for employment pass or Overseas Networks and Expertise Pass holders. The minister was responding to an adjournment motion by Nominated Member of Parliament Raj Joshua Thomas, on building a global talent strategy. Thomas, a lawyer and the president of the Security Association Singapore, set out in the motion two main suggestions on how the government can bolster its global talent policy and ameliorate .

Singapore resurgence draws big money, bubble fears with high cost of living

Below the surface, things aren't quite so rosy. As the government mints new long-term visas to attract more high-paid talent, it faces a delicate balancing act to keep its people happy

Singapore further tightens monetary policy, rises mid-point of its dollar

The Monetary Authority of Singapore (MAS) further tightened its policy stand by raising the mid-point of the Singapore dollar Nominal Effective Exchange Rate policy band to its prevailing level

Singapore sees GDP at lower end of forecasts amid war, supply chain woes

The Southeast Asian financial hub is often seen as a bellwether for global growth as international trade dwarfs its domestic economy

Singapore slightly upgrades Q4 GDP, keeps 2022 forecast for growth at 3-5%

Gross domestic product (GDP) grew 6.1% year-on-year in the fourth quarter, the Ministry of Trade and Industry (MTI) said, slightly higher than the 5.9% growth in the government's advance estimate

DBS Bank profit rebounds in Q4, seen gaining as rates outlook improves

'Guidance for 2022 is in line with our current inputs but for the credit costs, and is likely to be the next driver of positive earnings revisions,' Guha said in a note

Business investment into Singapore dropped 31% in 2021, Covid blamed

Commitments for investments in fixed assets such as facilities, machinery and other equipment shrank to $11.8 billion.

DBS posts third-quarter profit jump, Singapore banks flag recovery

Friday's result rounded out a robust quarter for Singapore banks

Singapore deputy PM steps aside as future PM, in succession setback

Heng, who will turn 60 this year, is set to give up his portfolio as finance minister at the next cabinet reshuffle, which local media said is expected in about two weeks.

Singapore's manufacturing output surges 8.6% on year in January 2021

The Singapore Economic Development Board (EDB) said that the country's manufacturing output increased 8.6 per cent year on year in January 2021, compared to the 16.2 per cent increase last December

Singapore's GDP to grow by 4-6% in 2021, showing signs of recovery

The economy will grow by 4.0 to 6.0 per cent this year, said the Ministry of Trade and Industry (MTI), sticking to its forecast announced in November last year

Business investments into Singapore rise 13%, highest in over a decade

Commitments by total business expenditure, whose major components include wages and rental, fell 24% to S$6.8 billion

Singapore set for slow recovery from pandemic after worst recession

Singapore marked its worst ever recession in 2020 due to Covid, although contraction moderated in the fourth quarter as the city-state lifted curbs, putting the economy on path to a slow recovery

Singapore Oct manufacturing unexpectedly falls 0.9% y-o-y, misses forecast

Singapore's industrial output unexpectedly declined 0.9% year-on-year in October, missing economists' forecasts, hurt by a plunge in transport engineering, official data showed on Thursday.

Singapore October exports unexpectedly fall 3.1% y-o-y shipments drop

Singapore's October NODX unexpectedly fell 3.1% from a year earlier, coming in well below forecasts, as both electronics and non-electronics shipments dropped

Singapore Sep manufacturing jumps 24.2% year-on-year, biggest gain in 9 yrs

Singapore's industrial output beat forecasts to rise 24.2% year-on-year in September, its fastest pace in nine years, boosted by pharmaceutical manufacturing more than doubling during the month

Covid-19 impact: Hong Kong, Singapore property will part ways

Hong Kong's real estate investment market is as large as its gross domestic product; Singapore's half

Singapore planning to hike minimum pay for foreigners in financial services

The increase in salary will provide further support for the hiring of Singaporeans in the financial services sector, the Channel News Asia reported citing MAS, the de facto central bank