Category: Business

Consumers are increasingly willing to invest in high-quality, alcohol-free drinks. Money Mind explores this burgeoning beverage movement that shows no signs of slowing down.SINGAPORE: The global beverage industry is undergoing a transformation as non-alcoholic and low-alcohol drinks gain traction, fueled by a growing wellness movement worldwide. More customers are now willing to spend a premium …

In a challenging global landscape, Prime Minister Lee Hsien Loong discusses the economic impacts of the Ukraine conflict and the urgent need for transformation.Prime Minister Lee Hsien Loong announced on Sunday (May 1) that Singapore may face a recession within the next two years, particularly due to the ongoing war in Ukraine.“At the beginning of …

An Overview of Recent Measures and Their ImplicationsSINGAPORE: In response to rising inflation, the Monetary Authority of Singapore (MAS) tightened its monetary policy on Thursday (Apr 14) with a significant two-in-one action. This marks the third tightening in just six months and the most aggressive move to date.While the tightening was anticipated due to ongoing …

Government Initiatives Respond to Rising Global Gas Prices and Supply RisksSINGAPORE: The Energy Market Authority (EMA) announced on Thursday (Mar 30) that measures designed to enhance Singapore's energy security will be extended until the end of June. This decision comes in response to the ongoing global energy crisis and the conflict in Ukraine.The EMA highlighted …

Unpacking the Implications of the Latest Budget ChangesAs Speaker of Parliament Tan Chuan-Jin concluded the Committee of Supply debates last Friday, it marked the end of the significant Budget 2022 discussions.From postponed GST hikes to doubled GST vouchers, increased carbon taxes, and higher taxes for the wealthy, the reception to Budget 2022 has been largely …

Support Package Proposed Amid Rising Fuel CostsIn light of escalating fuel costs, Leader of the Opposition Pritam Singh has urged Manpower Minister Tan See Leng to consider a support package for taxi and private-hire drivers to alleviate the financial strain caused by increasing petrol and diesel prices.In a Facebook post on Tuesday (March 15), Mr. …

Addressing the Disconnect in Legislative DiscourseThis week was meant to be a pivotal and hopeful moment. With a new Finance Minister presenting his inaugural Budget speech and Singapore gradually emerging from the pandemic, the question of how the nation will navigate this new reality looms large. The parliamentary debate has commenced, and it should have …

Urging Unity, Finance Minister Highlights Importance of Foreign Workers in SingaporeIn Parliament, Finance Minister Lawrence Wong addressed Singapore’s foreign worker shortage, stating it will be resolved "within the next few months." He cautioned against allowing "anti-foreigner sentiments" to take hold in Singapore, noting that some MPs have been vocal on this issue without specifying names.Concluding …

Opposition Leader Calls for Alternative Revenue Streams InsteadIn Parliament on Monday (Feb 28), Leader of the Opposition Pritam Singh expressed the Workers’ Party's opposition to the planned Goods and Services Tax (GST) hike, stating that they would contest Budget 2022. Several WP MPs, including He Ting Ru, Louis Chua, and Jamus Lim, who is an …

Ministry of Manpower Enforces Strict Measures Against Unethical Employment PracticesSINGAPORE: The Ministry of Manpower (MOM) has taken enforcement action against an average of 102 employers each year for collecting kickbacks from migrant workers between 2016 and 2020, Senior Minister of State for Manpower Koh Poh Koon informed Parliament on Tuesday (Mar 1).On average, each offending …