Category: Business

The local currency gains strength as MAS maintains a hawkish stance, while the Federal Reserve leans toward a dovish outlook.SINGAPORE: The Singapore dollar has reached its highest level in almost a decade, driven by traders reacting to the Monetary Authority of Singapore’s (MAS) relatively hawkish policy stance, especially in contrast to the Federal Reserve's dovish …

Despite the region's highest inflation rates, Singapore’s affluent show confidence in the country’s economic prospects.SINGAPORE: According to MDRi’s Economic and Spending Sentiment Report, released on Thursday (Aug 22), Singapore stands out in the Asia-Pacific (APAC) region with the highest number of respondents reporting an increase in their cost of living. The report also highlights that …

WP welcomes key shifts but urges further policy changes to address longstanding concerns.SINGAPORE: The Workers’ Party (WP), Singapore’s largest opposition party, responded positively to Prime Minister Lawrence Wong’s first National Day Rally speech on Sunday (Aug 18), applauding the policy changes announced and noting their alignment with WP’s past proposals. However, the party also called …

Prime Minister Lawrence Wong shared experiences from his personal life in his maiden National Day Rally, an approach which would resonate with a younger generation of Singaporeans born mostly after independence, said political observers.SINGAPORE: In his first National Day Rally, Prime Minister Lawrence Wong made significant and radical policy announcements, taking further steps towards a …

Positive performance in US and European markets boosts investor sentimentSingapore shares rose on Thursday, Aug 15, following a positive performance in the US and European markets overnight.The Straits Times Index (STI) climbed 0.3%, or 8.67 points, to 3,294.95 at 9:01 am, as reported by The Business Times.In the broader market, 73 stocks advanced against 48 …

Malaysian Prime Minister Anwar Ibrahim tightens his grip on the political landscape with a bold move to reform the civil service, but it could provoke resistance.KUALA LUMPUR: Prime Minister Anwar Ibrahim has made a surprising move by appointing a relatively unknown figure, Shamsul Azri Abu Bakar, as the Chief Secretary to the Government, a position …

Revised projections reflect steady growth but acknowledge global uncertainties.SINGAPORE: The Ministry of Trade and Industry (MTI) has narrowed Singapore’s GDP growth forecast for 2024 to a range of 2.0–3.0 per cent, revising the earlier projection of 1.0–3.0 per cent. The updated outlook follows an assessment of the nation’s economic performance in the first half of …

Charges filed against individuals linked to one of Singapore’s largest money laundering cases.SINGAPORE: Three men, aged between 26 and 41, are set to face court charges on Thursday (Aug 15) in connection with one of Singapore’s largest money laundering cases.Two of the individuals, former bank relationship managers, had worked with convicted criminals Su Baolin, Vang …

Revised from the earlier projection of 1%–3%, reflecting improved performance in the first half of the year.SINGAPORE: Singapore’s Ministry of Trade and Industry (MTI) announced on Tuesday (Aug 13) a narrowed gross domestic product (GDP) growth forecast for 2024, revising it to 2%–3%. This adjustment follows better-than-expected economic performance in the first half of the …

The Straits Times Index (STI) gains 0.4% amid strong performances in oil, gas, and banking sectors.SINGAPORE: Singapore stocks opened higher on Tuesday (Aug 13), bolstered by steady economic data for the second quarter. The nation’s gross domestic product (GDP) growth remained at 2.9% from April to June, matching earlier estimates and closely aligning with Q1’s …