Tag: Singapore economy

SG Budget 2020: Analysts estimate Covid-19 relief package of S$700m

Singapore—The national Budget is scheduled to be announced on Tuesday (Feb 18) with analysts expecting that a virus relief package of at least S$700 million will be included. A senior economist at DBS, Irvin Seah, has been quoted by Reuters as saying, "The latest...

Chan Chun Sing: Singapore’s workforce needs right balance of local and foreign manpower

Singapore— Minister for Trade and Industry Chan Chun Sing said in Parliament on Tuesday (Feb 4) that the country’s workforce needs the ‘right mix’ of local and foreign manpower in order to "punch above our weight.” For this to happen, he added, requires consistent fine-tuning. “To...

Wuhan virus outbreak will affect Singapore’s economy this year: Chan Chun Sing

Singapore — The Wuhan novel coronavirus that has affected more than 2,700 people, killed over 80 and spread to several nations will have a negative impact on Singapore's economy this year, according to Trade and Industry Minister Chan Chun Sing. Mr Chan said this at...

PM Lee says 2020 Budget will be “strong, and suitable to the state of the world”

Singapore—At the tail end of his visit to South Korea for the ASEAN-Republic of Korea (ROK) Commemorative Summit, Prime Minister Lee Hsien Loong took a few minutes to talk to the press about next year’s national Budget, saying it would be “strong, and suitable...

Singapore economy experiences growth but less than what was predicted by economists

Singapore was able to veer away from a technical recession as its economy grew by 0.1% in the 3rd quarter, the Ministry of Trade and Industry announced Monday (Oct 14). However, the growth was below the 0.3% that was foreseen by economists in a previous...

Chan Chun Sing—Singapore’s economy will be affected if turmoil in HK continues

Singapore— The country’s Minister for Trade and Industry Chan Chun Sing warned of the “negative spillover impact” that Singapore and other countries in the region will experience if the protests that have disrupted Hong Kong over the past 13 weeks continues to go on. Because...

Due to slowing economy, Singapore SMEs rank revenue growth as top priority over innovation

Over 82% of Singapore businesses surveyed in the recent Singapore Chinese Chamber of Commerce and Industry (SCCCI) poll said their main concern at the moment is to achieve revenue growth. The survey polled 972 respondents, of which 95% were SMEs. This concern is the result of...

Singapore ranked world’s most competitive economy for 2019

The Switzerland-based research group IMD World Competitiveness Centre ranked Singapore as the world’s most competitive economy besting 63 other economies in a report released today (May 29). Getting the top spot – its first time since 2010 – was due to an advanced technological infrastructure,...

Chan Chun Sing urges Singapore to brace for fallout from US-China trade war

Singapore — The country’s Trade and Industry Minister has highlighted the seriousness of trade tensions between the United States and China. Chan Chun Sing stressed in a May 14 (Tuesday) public Facebook post that Singapore must be ready to face challenges resulting from this...

Singapore begins to feel effects of US-China trade war, posting export declines

For the first time in eight months, Singapore’s exports fell in November. Exports to China, which is the country’s biggest market, have continued to diminish, reflective of slower economic growth in China. Industry experts around the globe have expressed concerns about how ongoing trade tensions...