Saturday, July 31, 2021
On June 21, Vietnam and Singapore agreed to set up a joint technical working group on Digital Partnership, examining the potential for developing a bilateral digital economy agreement. This initiative took place right before the High Level Opening of the Asia Europe Meeting (ASEM) High Level Policy Dialogue, indicating its importance...
Seah Hui Li rises before dawn every morning to make 400 traditional steamed buns filled with creamy red bean paste to sell in one of Singapore’s famed hawker markets. But as Covid-19 restrictions kept diners away, the 63-year-old stall holder struggled. Business is now looking up, thanks to an Instagram...
Singapore's count of millionaires could increase by more than 60 per cent from 2020 to 2025, according to Credit Suisse Group, part of a surge in millionaires expected in Asia as financial capitals emerge from the Covid-19 pandemic. Singapore may have 437,000 millionaires by 2025 compared with 270,000 in 2020,...
U.S.-headquartered semiconductor manufacturer GlobalFoundries announced Tuesday that it will build a new fabrication plant in Singapore to meet the unprecedented global demand for chips. The new facility will be developed in partnership with the Singapore Economic Development Board and with co-investments from committed customers, GlobalFoundries said. More than $4 billion...
Singapore-headquartered Carro, a Southeast Asian online automotive marketplace, said on Tuesday it has raised $360 million in its latest funding round led by SoftBank Vision Fund 2, becoming the region's latest unicorn. "The valuation for the company is well over a billion dollars," CEO and founder of Carro, Aaron Tan,...
Singapore's economy is likely to expand at a quicker pace this year than previously expected, as faster growth in manufacturing, non-oil domestic exports and finance and insurance outweigh slower growth in areas such as private consumption, a central bank survey showed on Monday. Gross domestic product is expected to grow...
Singapore will start a phased easing of its COVID-19 restrictions from next week, including allowing up to five people to gather from two currently, after a fall in the number of new infections, the health ministry said. The city-state had reimpose curbs on gatherings and public activities last month amid...
The public listings for two of Southeast Asia’s tech giants will likely pave the way for more high-growth businesses to emerge from the region, said venture capital firm 500 Startups. Contrary to concerns that regional heavyweights may “gobble up” smaller start-ups and stymie innovation, Vishal Harnal told CNBC that “couldn’t be...
Singapore, a regional hub for technology firms, will change its tax system as needed once there is a global consensus, its finance minister said on Tuesday, after the world's rich nations agreed there should be a minimum corporate tax rate of 15%. Singapore, a low-tax jurisdiction where several multinationals including...
Member nations of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on Wednesday officially agreed to allow the United Kingdom to start the process of joining the pact, Japan's economy minister said. Japanese Economy Minister Yasutoshi Nishimura told reporters he welcomed the start of Britain's joining process after hosting...
Singapore announced S$800 million ($605 million) in additional support for businesses and individuals affected by restrictions imposed this month as it confronts a recent uptick in Covid-19 cases. The measures include wage subsidies and rental relief for sectors particularly affected such as food and beverage as well as retail, the...
Singapore’s economy expanded more than first thought in the first quarter and the government maintained its growth forecast for the year, but struck a cautious note about recovery due to uncertainties from the COVID-19 pandemic. Gross domestic product (GDP) grew 1.3% year-on-year in the first quarter, the Ministry of Trade...

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