Singapore
- World News
El Nino set to return in 2023, raising haze risk for Singapore
Haze is expected to once again rear its ugly head in Southeast Asia. The Meteorological Service Singapore has forecasted that El Nino conditions are expected to develop in the second half of 2023, following three years of La Nina conditions. This comes seven years after the last strong El Nino event. The Met Service also predicts that a positive Indian…
- World News
SET and SGX launch cross-border trading for Thai depositary receipts
The Stock Exchange of Thailand (SET) and the Singapore Exchange (SGX) announced a joint venture that enables the trading of three depositary receipts (DRs) of Thai-listed companies on the SGX. This innovative collaboration, launched yesterday, is the first of its kind under the Thailand-Singapore DR Linkage project and aims to boost the appeal of Thai-listed companies in the regional market by…
- World News
Singapore’s private home prices soar to US$1.2 million, topping Asia Pacific cities
The median price of a private home in Singapore reached US$1.2 million in 2022, making it the highest among Asia Pacific cities, according to a report by the Urban Land Institute (ULI) Asia Pacific Centre for Housing. Singapore is also ranked as the most expensive city in the region for renting a private home. The median private home price in…
- Business News
Temasek cuts staff pay after failed FTX crypto investment
Singapore-based investment company Temasek has announced that its investment team and senior management experienced a reduction in compensation following the firm’s failed investment in cryptocurrency company FTX. Temasek Chairman Lim Boon Heng stated that despite no misconduct by the investment team, they took collective accountability for the outcome. In November, Temasek Holdings revealed that it would write down its US$275…
- Business News
Singapore maintains 2023 growth forecast amid global economic risks
Singapore‘s Ministry of Trade and Industry (MTI) has announced that it is maintaining its growth forecast for 2023 at 0.5% to 2.5%, with growth expected to be around the mid-point of this range. This comes as the economy experienced a 0.4% year-on-year growth between January and March, primarily due to the manufacturing, wholesale trade, and finance and insurance sectors. The…
- Business News
Dyson aims to double product range, expand beyond home innovations by 2025
Dyson, renowned for its innovative household appliances, has been focusing on making everyday tasks more efficient and convenient for users. The development of such cutting-edge products often takes years and numerous prototypes, with Dyson’s bagless vacuum cleaner taking over five years and 5,127 prototypes to perfect. The company’s entrance into the beauty market with its hair dryer involved four years…
- World News
Singapore firms eye Central Asia’s growing consumer market for expansion
Central Asia, a region known for its landlocked countries, may not be the most obvious choice for Singaporean businesses looking to expand their horizons. However, Enterprise Singapore (EnterpriseSG) believes that the area’s growing consumer market and young population can offer early-mover advantages for companies, particularly in sectors such as urban infrastructure, technology, and innovative consumer products. Despite Central Asia’s strategic…
- Business News
Singapore leads Southeast Asia with 97% cashless payment adoption rate
In Singapore, a growing majority of people are opting for cashless payment methods, with the country’s adoption rate of such payments being the highest in Southeast Asia at 97%. This trend has been accelerated by the Covid-19 pandemic and an ongoing national drive for a less-cash society. Digital wallets are expected to overtake credit cards as the most popular online…
- World News
Singapore, China reaffirm partnership, explore digitalisation and sustainability cooperation
Singapore Deputy Prime Minister Lawrence Wong recently met with China’s Premier Li Qiang in Beijing, further strengthening the long-standing relationship between the two nations. The Prime Minister’s Office (PMO) noted that their partnership has been upgraded to an “All-Round High-Quality Future-Oriented Partnership.” The leaders discussed the growth of bilateral cooperation, including the three government-to-government projects in Suzhou, Tianjin, and Chongqing,…
- Business News
Singapore’s key exports drop for seventh month amid electronics slump
Singapore‘s non-oil domestic exports (NODX) suffered a decline for the seventh consecutive month, with a 9.8% drop in April compared to the same month last year. This is according to data from Enterprise Singapore, which also revealed an 8.3% contraction in March. The decline in April was worse than the 9.4% drop predicted by a Reuters poll. The slump in…
- Business News
UFC Gym eager to re-enter Singapore market after sudden closure of franchise
UFC Gym has expressed its keen interest in returning to the Singapore market and is committed to offering support to customers affected by the unexpected closure of its franchise in the country, according to CEO Adam Sedlack. He highlighted that Singapore continues to be an attractive market for the UFC Gym brand and their unique training approach. Members of UFC…
- Business News
WhatsApp in-chat payments roll out in Singapore: A new chapter for SMEs or a security risk?
Digital payments are transforming rapidly, and WhatsApp’s recent decision to launch in-chat payments in Singapore highlights this change. The move by Meta, WhatsApp’s parent company, is expected to have a significant impact on local businesses and increase competition among the region’s e-payment providers. However, concerns also arise around security, privacy, and the potential for scams and fraud. With a user…
- Business News
OCBC reports record net profit in Q1 as strong net interest income growth boosts earnings
Singapore‘s second-largest lender, Oversea-Chinese Banking Corp (OCBC), has reported a 39% increase in first-quarter profit compared to a year ago, driven by robust net interest income expansion. OCBC, also the second-largest bank in Southeast Asia by assets, revealed a net profit of US$1.42 billion between January and March, up from US$1.02 billion during the same period last year, significantly surpassing…
- World News
Resumption of live pig exports from Indonesia’s Pulau Bulan to Singapore could take a year
The Singapore Food Agency (SFA) has indicated that it could take up to a year for Indonesia’s Pulau Bulan to resume live pig production and exports. Singapore halted imports of live pigs from the island after African swine fever (ASF) was detected in some pig carcasses last month. The affected carcasses, part of a consignment of live pigs from Pulau…
- World News
Singapore’s prime minister urges ASEAN to work towards a joint power grid
Following the success of the Lao PDR-Thailand-Malaysia-Singapore power integration project, Singapore’s Prime Minister, Lee Hsien Loong, 70 years old, called on ASEAN yesterday to continue working towards a joint power grid. A regional power grid will strengthen energy security, and resilience in member states, and advance regional decarbonisation, Lee said. The Lao PDR-Thailand-Malaysia-Singapore project demonstrates that “multilateral power trading in…
- World News
Scoot flight horror: Technical fault sparks panic among passengers on Singapore to Bangkok route
Passengers on a Scoot flight from Singapore to Bangkok feared for their lives when a technical fault caused the aircraft to catch fire yesterday afternoon. Pictures taken by a passenger on the TR605 flight showed a plume-filled cabin. The Airbus A321 departed Bangkok at 3.56pm and was due to arrive in Singapore at 7.15pm. As a result of the technical…
- Business News
Singapore aims to shed stopover status and hit pre-pandemic tourist numbers by 2024
Australians, Bryan and Christine Mansfield were delighted to start their three-day holiday in Singapore, marking the beginning of their golden jubilee celebrations delayed due to the COVID-19 pandemic. Like other tourists, Singapore was their first foreign destination since 2020 when the pandemic halted international travel. Although Singapore served as a layover before proceeding to their main destinations within the Southeast…
- Business News
Singaporean youth moving back with parents due to skyrocketing rents
Singapore sees rising rents amidst the COVID-19 pandemic, forcing some young tenants to return to their parent’s homes or face soaring rental fees. Since the onset of the pandemic, the number of Singaporeans and permanent citizens under 35 years old living alone increased from 15,900 in 2019 to 25,000 in 2020. However, data from the Urban Redevelopment Authority and 99.…
- Business News
Singapore car COE prices to remain high due to limited supply and strong demand
Prices for Singapore’s Certificate of Entitlement (COE) are likely to remain high as demand continues to outstrip limited supply. Despite a dip in premiums for cars after the latest bidding exercise closed on 4 May, it is too early to tell if prices have peaked, said analysts who forecast that COE premiums for cars may rise in the next few…
- Business News
Keppel Corp announces major restructuring and growth plans
Singapore‘s Keppel Corp, a former conglomerate with operations in a variety of sectors including data centres and renewable energy assets, unveiled a significant corporate restructuring plan today. The reorganisation will see the company divided into three distinct units – fund management, investment, and operating platforms, aiming to simplify and foster growth. The fund management arm will concentrate on raising funds,…
- World News
Singapore woman caught fleeing after scalding water attack
A woman in Singapore was arrested after an allegedly planned attack where she poured scalding hot water on a man and then tried to flee the country by ferry. The 28 year old woman was picked up by authorities on Thursday on a ferry bound for Indonesia, just before it hit international waters. The incident occurred near Balam Road in…
- Environment News
Japan voted top sustainable country, Thailand ranked fifth
Japan has been praised by fellow Asian countries for its sustainability and conservation efforts in a new poll with Thailand claiming fifth place, would you believe? Over 13,000 respondents from more than ten countries participated in the Sustainable Impact Survey 2023 conducted by the online travel agency Agoda. The respondents were asked to rank countries based on their sustainability efforts, and…
- World News
Bangladeshi man arrested for trying to enter Singapore by walking along Causeway
A Bangladeshi man was arrested after trying to enter Singapore through the Causeway train tracks. Immigration and Checkpoints Authority (ICA) arrested the man after he was spotted walking along the tracks. Upon reprimanding him, police say he was not carrying any identification or travel documents. According to Channel News Asia, the ICA wrote about the situation on Facebook. “The man…
- World News
Singapore 2 year old girl run over, possibly by her father
Tragedy struck a family in Singapore on Monday when a two year old girl died in a freak accident. The young girl was run over by a van in a car park in the Woodlands area of the city-state, possibly by her father. Emergency services raced to the scene after the incident was reported on Woodlands Street at 2.40pm. The…
- Visa Information
Thailand still pushing its unattractive LTR 10-year visa
The Government of Thailand is once again, making unsubstantiated claims regarding its 10-year, multiple entry Long Term Residence (LTR) visa programme. The government still reckons the LTR programme will attract one million foreigners over five years and act as a catalyst to boost the nation’s tourism and promote economic growth in Thailand. According to the VN Express yesterday, the secretary…
- Thailand News
Thai Airways cabin crew forgets to collect meal trays before landing on Singapore-Bangkok flight
Thai Airways is ‘”urgently investigating” why cabin crew failed to collect meal trays on a Singapore – Bangkok flight before landing on the runway at Suvarnabhumi Airport after an irked passenger recorded the incident on TikTok. TikTok user Praewa Nang Mana (@Praewa_panicha) posted a clip of food trays sitting on the foldable tables of three seats. As the plane lands,…
- China News
Chinese billionaire tech banker Bao Fan is missing
Chinese billionaire tech banker Bao Fan is missing. The disappearance of the China Renaissance renegade chair is not a huge surprise but raises fears of a fresh crackdown on China’s finance industry With billionaire boss either banged up or on the lam, Renaissance, one of the country’s top investment banks has plunged into turmoil. ‘Do not believe the rumours’ Bao…
- World News
Singapore sees first Covid vaccine death
The Ministry of Health (MOH) in Singapore announced the death of a 28-year-old Bangladeshi man, likely related to a Covid-19 vaccine. He died away 21 days after receiving the Moderna/Spikevax vaccine. The State Coroner has confirmed that the cause of death was myocarditis, an inflammation of the heart muscle. The MOH has also stated that the man’s death was a “medical…
- World News
Singaporean salon Strip in trouble over orangutan ad
Singaporean hair removal salon chain Strip has been the centre of a social media storm in China due to their use of an orangutan in an advertisement in the country. The ad for Strip’s salons in Shanghai caused anger among social media users who accused the company of shaming women who do not remove their body hair. In response to…
- World News
PIL launches weekly service to link key ports in Thailand, Philippines, Singapore
Pacific International Lines (PIL) is set to revolutionize Southeast Asian shipping with its new weekly direct service, the Thailand Philippines Straits Service (TPS), launching on February 15, from Manila, Philippines. This service will bring the key ports of Thailand, the Philippines, and Singapore closer together and enhance PIL’s connections in the region. A consortium of vessels with an average capacity…
