Singapore Economy Can Increase By Up to 3% in 2024: Reports Singapore’s economy anticipates a growth ranging from 1% to 3% in 2024. A recent report by the Ministry of Trade and Industry (MTI) reveals the city-state’s robust third-quarter gross domestic product (GDP) growth of 1.1% year-on-year, surpassing both advance estimates and analysts’ expectations. …
Singapore Third in Asia and Tenth in the World in the Number of Unicorn Startups A new analysis of the global unicorn landscape reveals Singapore’s prominence as a producer of high-value unicorn start-ups. According to a recent study by FOREX.com and CB Insights, Singapore secures the 10th spot globally and 3rd in Asia. The country…
Singapore Becomes World’s 17th Most Sustainable Investment Destination With an impressive leap of 18 spots in the rankings, Singapore has firmly secured the 17th position in the highly esteemed 2023 Global Destination Sustainability Index. This advancement underscores the city-state’s commitment to making tangible strides towards a sustainable future. Within the Asia-Pacific region, Singapore proudly stands…
Singapore’s Digital Economy Fuels GDP Growth: Almost Doubles in Five Years In a report by Singapore’s Infocomm Media Development Authority, Singapore’s digital economy significantly contributed to its GDP, exceeding 17% in 2022. This is up from 13% in 2017. Furthermore, the total value of this digital economy reached SGD 106 billion in 2022, a substantial…
Singapore, Malaysia, and Indonesia Come Together for Regional Supply Chain and Manufacturing Singapore is fortifying its regional bonds with Malaysia and Indonesia to harness the evolving global manufacturing landscape. Jacqueline Poh, the Managing Director of Singapore’s Economic Development Board (EDB), unveiled this strategic alliance during a prominent LSEG and Reuters Newsmaker event. The three countries…
UK-Singapore Partnership: A Strategic Alliance for Prosperity and Security The Singapore government has sealed a pioneering partnership with the UK to bolster economic growth and enhance shared security. This monumental UK- Singapore partnership marks the United Kingdom’s first treaty since its departure from the European Union. The G20 Summit: A Venue for Collaboration British…
MAS Strengthening AML Framework for Single Family Offices in Singapore In a bid to close AML loopholes and standardize licensing exemption criteria for Single Family Offices (SFOs), the Monetary Authority of Singapore (MAS) has proposed a new AML framework. This move comes as SFOs witness strong growth in Singapore, prompting concerns about potential money laundering…
Singapore Avoids Technical Recession with Sufficient Economic Growth After growing slightly in the second quarter of this year, Singapore avoids technical recession by a narrow margin. The slowdown in the second quarter was because China’s global demand weakened, impacting trade flows. Seasonally, Southeast Asia’s economy grew 0.3% (quarter-on-quarter). This was followed by a 0.4 contraction…