Singapore economy

Singapore's lowest GDP growth in 2 years comes with manufacturing warning
SINGAPORE (Feb 15): Singapore's economy grew at its slowest pace in more than two years in the fourth quarter, data showed on Friday, and the city-state's trade ministry warned that manufacturing is likely to face significant moderation this year. Weakening growth momentum for Singapore's open economy -- a high-tech manufacturing base and transportation hub -- underscores the risks to Asia's ...
Singapore wins top central bank award; Flug is governor of year
(Feb 6): The Monetary Authority of Singapore was named central bank of the year for its strong track record of stability and push to develop the city state into a financial technology hub. The annual award, adjudicated by Central Banking journal, cited the MAS’s property cooling measures, an upgrading of its regulatory and supervisory practices and a willingness to spur new technologies as ...
Singapore among few Asian countries forecast to enjoy real wage growth this year
SINGAPORE (Jan 31): Singapore’s workforce is due for an average salary increase of 4% this year compared to 3.7% predicted in 2018, according to a forecast issued today by consulting firm Korn Ferry. The data was drawn from Korn Ferry’s pay database of over 20 million job holders in 25,000 organisations across more than 110 countries. It showed predicted salary increases as forecasted by ...
Singapore proposes stricter rules for ride-hailing operators
(Jan 25): Singapore is proposing to step up regulation of ride-hailing companies such as Grab and Go-Jek, bringing rules for the services in line with taxi operators in a bid to better protect the safety of commuters and drivers. The city-state’s regulators asked for public comment on the subject through Feb 21 because of the gaps in how street-hailing and ride-hailing services are managed, ...
A US$41 billion flash crash in Singapore gives traders a fright
SINGAPORE (Jan 25): What was shaping up to be a ho-hum market open in Singapore suddenly became the most dramatic session in years, with a haphazard spree of sell orders causing a US$41 billion ($55.8 billion) crash in the city’s biggest stock. Jardine Matheson Holdings, the flagship investment firm of a 186-year-old conglomerate that hadn’t posted a double-digit stock decline since ...
Singapore is seeing an unprecedented mortgage slowdown
SINGAPORE (Jan 25): Rising interest rates and the latest round of property curbs have put the brakes on mortgage demand at Singapore’s banks, potentially further dragging down the city’s housing market. Home-loan growth slowed to 1.9% in the first 11 months of 2018, less than half the 4.2% increase posted in 2017, the latest Monetary Authority of Singapore data show. Mortgage ...
Singapore economy grows 3.3% in 2018
SINGAPORE (Jan 1): Singapore’s economic growth held above 3% for a second year, Prime Minister Lee Hsien Loong said, calling on the nation to rally around a new team of leaders and ensure continuity as he prepares to step down. Gross domestic product expanded 3.3% in 2018, Lee said in his New Year message on Monday. That matches the median estimate in a Bloomberg survey of 14 economists. ...
Singapore's manufacturing output increased 7.6% in Nov
SINGAPORE (Dec 26): Singapore’s manufacturing output increased 7.6% in November on a year-on-year basis, reported the Economic Development Board (EDB) on Wednesday. Excluding biomedical manufacturing, output grew 5.3%. On a three-month moving average basis, manufacturing output rose 4.5% in November 2018, compared to a year ago. On a seasonally adjusted month-on-month basis, manufacturing ...
STI more likely to trade between 2,800-3,200: OCBC
SINGAPORE (Dec 24): OCBC Investment Research is projecting for the Straits Times Index (STI) to trade as high as 4,125 in 2019 in a bull case scenario.  As at Dec 5 this year, the index traded at 3,156, 18% down from Bloomberg’s target of 3,721. The research house’s base case is for the STI to trade at around 3,632 with a potential upside of 17% from Dec 5 levels, based on 7% ...
RHB sees dimmer outlook ahead as NODX contracts 2.6% in Nov
SINGAPORE (Dec 18): RHB Research is expect real export growth to moderate to 3.9% in 2018 and 3.6% in 2019, after Singapore’s non-oil domestic exports (NODX) contracted by 2.6% y-o-y in November. “The dimmer outlook for the advanced and regional economies will likely translate to a more modest external environment for Singapore,” says RHB’s Singapore research team in a Monday ...