Singapore economy

2019 GDP growth to ease to 'slightly above midpoint' of 1.3-3.5% forecast: MAS
SINGAPORE (Apr 26): MAS expects GDP growth to come in slightly above the mid-point of 1.3-3.5% forecast range in 2019, as growth momentum of the global economy has moderated at the turn of the year amid sluggish trade. This was according to the Guide to the Macroeconomic Review April 2019, released by the Monetary Authority of Singapore’s (MAS) Economic Policy Group on Friday morning. On ...
Singapore's pre-election cabinet change sets Heng up for top job
(Apr 23): Singapore’s Finance Minister Heng Swee Keat was promoted to deputy prime minister on Tuesday, a move that further positions him to succeed Prime Minister Lee Hsien Loong. Heng will become Lee’s deputy on May 1 while retaining the finance post, the prime minister’s office said in an emailed statement. He will also continue chairing the Future Economy Council and National ...
Singapore in talks with more electric car companies after Dyson
SINGAPORE (Apr 22): Following Dyson’s plans late last year to manufacture its first electric car in Singapore, the city-state is now in talks with other makers of green vehicles to set up shop on the island. Singapore is pitching its connectivity to global markets through free-trade agreements, its high-skilled workforce and stringent protection of intellectual property, which is critical ...
Singapore central bank keeps policy settings as growth slows
(Apr 12): Singapore’s central bank kept its monetary policy settings unchanged on Friday, striking a dovish tone as it sees the economy growing below potential. After tightening policy twice last year, the Monetary Authority of Singapore -- which uses the exchange rate as its main policy tool -- left the slope and width of the currency band unchanged, as well as the level at which it is ...
It's all work, all play in Singapore if urban plan gets go ahead
(Apr 5): Living where you work and play may not seem like the ideal balance in terms of escaping the grind, but it’s a key plank of Singapore’s vision for its central business district. Like many cities’ financial centres, Singapore’s is bustling by day and close to deserted during a weekend. The government hopes to change that and laid out details of how it aims to go about it in an ...
Singapore casinos $9 bil expansion sparks price concern
(Apr 4): Genting Singapore and Las Vegas Sands Corp’s pledges to put $9 billion into tourist attractions in Singapore to keep their exclusive casino operating licenses was met with little enthusiasm by analysts and investors. At least six analysts downgraded Genting in the wake of the news, citing the hefty price tag for the license extension and the government’s plan to raise gambling ...
Genting Singapore inks new deal for $4.5 bil expansion of Resorts World Sentosa; exclusivity period for IR extended to end-2030
SINGAPORE (Apr 3): Genting Singapore is committing to an investment of some $4.5 billion for the expansion of the integrated resort (IR) at Resorts World Sentosa (RWS), which will see the property increase its gross floor area by approximately 50%. In view of the substantial investment and to provide business certainty, the government has agreed to extend the exclusivity period for the two ...
MAS seen to maintain monetary policy stance as growth slows sharply: Maybank
SINGAPORE (Apr 3): Maybank Kim Eng expects the Monetary Authority of Singapore to maintain its current monetary policy stance at the April meeting as growth slows sharply and core inflation eases. This comes after two straight tightening moves in Apr and Oct last year, when the MAS steepened the S$NEER appreciation bias slightly. Dampening growth outlook is a stronger Singapore dollar; ...
Investment banking fees fall a quarter to US$173 mil in 1Q: Refinitiv
SINGAPORE (Mar 28): Singapore investment banking activities generated US$172.8 million ($234 million) in fees in the first quarter ended Wednesday, which was 24.8% lower compared to a year ago. This according to the latest 1Q19 Singapore Investment Banking Review preliminary data published yesterday by Refinitiv, formerly the Financial and Risk Business of Thomson ...
Singapore will invest $724 million in technology transformation
(Mar 28): Singapore will allocate $724 million under a current plan to transform its economy into one that relies more on fields such as research and on companies that create new markets and jobs. The additional investment includes $500 million for digital technologies such as artificial intelligence, super-computing and robotics under the five-year plan ending 2020, a government advisory ...