Singapore Economic Development Board (EDB)

Boston Consulting Group’s venture arm plans new Singapore innovation centre

SINGAPORE (Nov 5): BCG Digital Ventures, the global corporate venture, investment and incubation arm of Boston Consulting Group, has announced plans to open a new Innovation Centre in Singapore in the first half of 2020.

This centre is part of plans to expand operations across Asia and will accelerate innovation across the region. It will also strengthen Singapore’s position as a hub in the global start-up ecosystem.

Singapore July factory output growth slows on-month, but beats forecast

SINGAPORE (Aug 24): Singapore's industrial production growth slowed slightly on-year in July from a month ago, but still came in above forecasts, data showed on Friday.

Manufacturing output in July rose 6.0% from a year earlier, data from the Singapore Economic Development Board showed, slower than the revised 8.0% on-year growth in June. The median forecast in a Reuters survey predicted a 5.4% expansion.

Singapore August factory output rises 19.1% on-year

SINGAPORE (Sept 26): Singapore's industrial production remained on a roll in August, growing more than expected due to robust electronics output, data showed on Tuesday.

Manufacturing output in August rose 19.1% from a year earlier, data from the Singapore Economic Development Board showed. The median forecast in a Reuters survey was for a 14.2% expansion.

On a month-on-month and seasonally adjusted basis, industrial production rose 0.6% in August, higher than the median forecast for a contraction of 0.4%.

Honeywell to open Asia Pacific's first industrial cyber security innovation centre in Singapore

SINGAPORE (June 8): Honeywell Process Solutions (HPS) will be establishing a new industrial cyber security centre of excellence (COE) for Asia Pacific in Singapore.

The COE features a state-of-the-art cyber security research and development lab, an advanced training facility and a security operations center that provides managed security services.

Supported by the Singapore Economic Development Board (EDB), the COE will be located at Honeywell’s office in Singapore’s Changi Business Park.

Keppel Infrastructure to develop gasification facility on Jurong Island

Image from Bloomberg

SINGAPORE (April 18): Keppel Infrastructure Holdings has signed an agreement with the Singapore Economic Development Board (EDB) to develop, own and operate a gasification facility on Jurong Island, Singapore.

Upon its completion, the facility will produce hydrogen, carbon monoxide, syngas and other industrial gases from a variety of potential feedstock including coal and refinery by-products.

P&G partners EDB to launch $140 mil digital innovation centre in Singapore

SINGAPORE (April 18): American multinational consumer goods company Procter & Gamble (P&G) today launched its first digital innovation centre in Singapore, with Minister for Trade and Industry S Iswaran present as the guest of honour.  

The inaugural E-Center, which is P&G’s first outside of the US, was established in partnership with the Singapore Economic Development Board (EDB).

Publicis announces plans to hire and train Singaporeans in digital and innovation capabilities

SINGAPORE (Feb 22): Publicis Communications Singapore says it is launching a new initiative to “create made-in-Singapore white label innovations catered for the global market”, which includes the hiring and training of Singaporeans to strengthen its employees’ digital and innovation capabilities.

Publicis Communications is the subdivision of French multinational advertising and public relations (PR) company Publicis Groupe.

3 ways Hyflux plans to raise global competitiveness in partnership with EDB

SINGAPORE (Feb 7): Hyflux is partnering the Singapore Economic Development Board (EDB) to bolster its global competitiveness via the means of investments across three fronts.   

These comprise making investments to improve manufacturing productivity; commercialise next-generation membrane technologies; and diversify from its traditional infrastructure business, says the local membrane maker in a Tuesday filing to the SGX.

Inbound investments to create fewer jobs in 2017: EDB

SINGAPORE (Feb 2): The Singapore Economic Development Board (EDB) announced Thursday that it has lowered its forecast for the number of jobs created from inbound fixed asset investments in 2017.

EDB is expecting to attract between $8-10 billion in inbound investments this year, which is expected to create 19,000 to 21,000 new jobs when the projects are fully implemented.

Last year, a total of $9.4 billion in fixed asset investments were made, which will result in some 20,100 new jobs – just within the 2016 jobs creation forecast range of between 20,000 and 22,000.

IBM and Bank of Tokyo-Mitsubishi UFJ launch blockchain partnership

SINGAPORE (Sept 16): IBM is working with the Bank of Tokyo-Mitsubishi UFJ (BTMU) to explore the use of blockchain technology in creating and managing business contracts and transactions.

The two partners hope to eke out efficiency by automating processes such as invoicing and payment.

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