Singapore

Singapore's economy expands more than estimated on services

Singapore’s economy grew at a faster pace than economists estimated in the fourth quarter of 2017, boosted by services such as finance and insurance.Gross domestic product rose at a seasonally adjusted and annualized rate of 2.8 percent from the previous three months, according to preliminary figures from the trade ministry on Tuesday. The median estimate of eight economists in a Bloomberg survey was 1.6 percent.

2 January 2018
0

ASEAN in 2018

The Southeast Asian region, like every other part of the globe has had a tempestuous year in 2017 with many hurdles thrown its way. From the ongoing humanitarian crisis in Myanmar’s Rakhine State to Duterte’s war on drugs, it is undeniable that the region is still finding its footing on rights and democracy.While these issues may or may not see a resolution in 2018, there are other things that the Association of Southeast Asian Nations (ASEAN) bloc can look out for.

1 January 2018
0

Singapore's Keppel Offshore fined $422 million for illegal payments

Keppel Offshore & Marine Ltd., the world’s biggest builder of oil rigs, agreed to pay $422 million to end a U.S. bribery probe into illegal payments to officials at Petroleo Brasileiro SA, Brazil’s state-owned oil company, and to the then-governing political party.Keppel units paid about $55 million to win 13 contracts with Petrobras and another company, U.S. prosecutors said in a press release after an American subsidiary pleaded guilty in federal court in Brooklyn, New York.

28 December 2017
0

Greying Singapore embraces technology to face health challenges

Singapore is embracing technology and focusing more on personal health, as an expected doubling of seniors over the next two decades forces the nation to confront politically sensitive decisions on financing and immigration.While Singapore’s aging population is something to celebrate in reflecting longevity, it’s also forcing the city state to become more nimble in how it approaches the challenges, Chee Hong Tat, senior minister of state for health and communications and information, said in

21 December 2017
0

Singapore issues cryptocurrency warning

Singapore, on Tuesday, issued a warning about cryptocurrencies after a recent surge in prices sent investors flocking to bitcoin."The Monetary Authority of Singapore advises the public to act with extreme caution and understand the significant risks they take on if they choose to invest in cryptocurrencies," the city-state's central bank said in a statement.

20 December 2017
0

Singaporean chip assembler Global A&T files for bankruptcy in NY

Global A&T Electronics, a Singapore-based chip assembler that took on hefty debt a decade ago through a buyout by TPG Capital and Affinity Equity Partners, filed for bankruptcy as a 2013 debt exchange came back to haunt it.The chip-assembler listed debt of more than $1 billion and assets of over $500 million in Chapter 11 papers filed Sunday in U.S.

18 December 2017
0

Chocolate industry giants capitalize on Asia's changing tastes

In a country long renowned for its cocoa beans, it’s a little ironic that until recently, Indonesia’s inhabitants haven’t had much of a taste for chocolate.The average Indonesian eats just 300 grams of chocolate annually, a sliver of the nine pounds or so put away by the average American, according to Euromonitor. But as incomes rise, tastes are slowly changing and global industry giants are positioning themselves to take full advantage of the sugar rush to come.

18 December 2017
0

Singapore's home sales gain with annual tally highest since '13

Singapore’s home sales rose in November, extending gains for a year that is already the best since 2013, as developers marketed more projects.Developers sold 785 units last month, up from a revised 760 in October, according to Urban Redevelopment Authority data released Friday.

15 December 2017
0

Vietnam’s promising future for women in companies

According to a recent report, Vietnam seems to have a bright future for gender diversity in the Southeast Asia region as there is a higher illustration of women serving as board of directors and chief executive officers in comparison to Malaysia, Indonesia and Singapore.The Boston Consulting Group (BCG) reported that some 25 percent of CEOs on board of directors in Vietnam are women. Currently, women hold 14 percent of CEO or board level positions in Malaysia and 10 percent in Singapore.

14 December 2017
0

Harsh Singapore laws stifling free speech: HRW

Singapore is increasingly using harsh laws to severely restrict freedom of speech and assembly, Human Rights Watch said Wednesday, urging authorities to let people publicly debate matters of national interest.A report from the New York-based rights group said that while the financial hub was an economic success, it was time to relax tough regulations which are not in line with international human rights standards."Singapore promotes itself as a modern nation and a good place to do busine

13 December 2017
0

Asia's top inflation-targeting bank may be preparing to hike

A small economy that’s constantly battling risks beyond its control like typhoons and oil prices has been one of the most successful in managing inflation in Asia.The Philippine central bank, which has an annual inflation target that’s currently set at two percent to four percent, met its goal six times in the past eight years and the two times it failed were because prices were too low.

13 December 2017
0