Tuesday , May 22 2018
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Singapore

Oil prices rise as China, US put trade war ‘on hold’

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SINGAPORE: Oil prices rose on Monday as markets reacted to news that China and the US have put a looming trade war between the world’s two biggest economies “on hold.” Brent crude futures were at $79.06 per barrel at 0650 GMT, up 55 cents, or 0.7 percent, from their last close. Brent broke through $80 for the first time since ... Read More »

SGX daily average trades up 12% to $1.3b in April

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SINGAPORE: The average daily value of trades on the Singapore Exchange (SGX) rose 12 per cent year-on-year in April to $1.3 billion although the average daily volume fell 26 per cent to 1.8 billion shares, according to the latest statistics from the market operator. Total turnover for April was $26.7 billion from 21 trading days, up 24 per cent from ... Read More »

Singapore Airlines to absorb regional wing SilkAir after upgrade

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SINGAPORE: Singapore Airlines said Friday it will absorb its struggling premium wing SilkAir following a multimillion-dollar upgrade as part of a reform drive to stay competitive. The move comes after the firm, facing tough rivalry in the high-end market from other full-service airlines and in economy class from budget carriers, last year consolidated its low-cost units TigerAir and Scoot into ... Read More »

Singapore non-oil exports recover to rise 11.8% in April, but electronics shipments continue to slide

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SINGAPORE – After shrinking for two straight months, Singapore’s non-oil domestic exports returned to growth in April as rising non-electronic exports outweighed a slide in electronics shipments. Non-oil domestic exports (Nodx) surged 11.8 per cent in April, blowing past economist estimates of a 7.3 per cent increase. This followed from a 3.2 per cent decline in March and a 6 ... Read More »

Oil markets firm amid OPEC cuts, Iran sanctions

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SINGAPORE: Oil prices were stable on Tuesday as ongoing production cuts by OPEC and looming US sanctions against Iran threatened to tighten the market amid signs of ongoing strong demand. Brent crude futures, the international benchmark for oil prices, were at $78.21 per barrel at 0639 GMT, virtually unchanged from their last close and not far off a three-and-a-half year ... Read More »

KrisEnergy posts Q1 loss of US$18.19 million

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Singapore : KRISENERGY slipped into the red in the first quarter despite higher sales of cargoes lifted from its oilfields. The oil and gas company, in which Keppel Corporation holds a significant equity stake, posted a loss after tax of US$18.19 million for the three months ended March 31, 2018, compared to a profit after tax of US$55.72 million for ... Read More »

Singapore retail sales drop 1.5% in March, as car sales slump again

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SINGAPORE – Retail sales dropped 1.5 per cent in March from a year ago, reversing the Chinese New Year-fueled 8.6 per cent jump seen in February, as car sales continued to slump. Excluding motor vehicles, takings at the till rose 2.6 per cent, according to Singapore Department of Statistics data released on Friday (May 11). The total retail sales value ... Read More »

Singapore fintech CCRManager wins funding from ex-Temasek banker

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CCRManager, a Singapore fintech that is tackling the secondary market in trade loans, has raised US$6.5 million in Series A funding from a group of investors led by veteran banker and ex-Temasek Holdings executive, Francis Rozario of Asia Capital and Advisors, it said on Tuesday. Mr Rozario will join its board of directors, said CCRManager in a media statement. Subscribers ... Read More »

Singapore must watch for winners and losers in the pursuit of free trade: Heng

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SINGAPORE: SINGAPORE needs to be conscious of how free trade can sieve out winners and losers, and ensure that people are not left behind amid the pursuit of free trade, said Minister for Finance Heng Swee Keat. Speaking at the Asean Conference on Thursday, Mr Heng was commenting on the impact of trade wars, amid simmering trade tensions between major ... Read More »

Singapore Central Bank Sees Steady Growth Amid Increasing Risks

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SINGAPORE: Singapore’s central bank sees “steady growth amid rising uncertainty,” holding onto projections for robust domestic and global demand in 2018 and betting that trade tensions won’t spoil the party. The global economy will expand 4.5 percent this year, according to the Monetary Authority of Singapore’s twice-yearly review released Friday. That would match last year’s rate that was the fastest ... Read More »

Singapore’s Global Innovation Alliance network expands to Bangkok

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SINGAPORE: Singapore’s Senior Minister of State (SMS) for Trade and Industry & National Development, Dr Koh Poh Koon, officially launched the Global Innovation Alliance (GIA) Bangkok in Thailand on 27 April. GIA Bangkok aims to strengthen innovation linkages between Singapore and Bangkok and serve as an entry point for Singapore entities to connect with the local innovation and business community. The GIA ... Read More »

Singapore’s factory output grew 5.9% in March

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SINGAPORE: Singapore’s industrial production (IP) grew 5.9% YoY in March 2018. Excluding biomedical manufacturing, output grew 8.6% YoY. The electronics cluster continued on an expansionary path for the 25th consecutive month and gained 12.4% YoY in March, mainly supported by the continued growth in the semiconductors (+18.8% YoY), which has been growing at a double-digit pace for the past 25 ... Read More »

Singapore manufacturing output rose 5.9% in March as semiconductors stayed strong

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SINGAPORE: Singapore’s factory output grew 5.9 per cent in March compared to a year ago, comparable to economists’ predictions of a 5.7 per cent rise, according to preliminary Economic Development Board figures on Thursday (April 26). Excluding biomedical manufacturing, which tends to be volatile, output grew 8.6 per cent year on year. However, on a seasonally adjusted basis, manufacturing output ... Read More »

Singapore March industrial output seen up 5.4 percent

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SINGAPORE: Singapore’s industrial production is expected to have risen at a slightly slower annual pace in March than the previous month, a Reuters poll showed on Tuesday. Manufacturing output in March is likely to be up 5.4 percent from a year earlier, according to a Reuters poll of 10 analysts. The manufacturing output data is expected to grow despite a ... Read More »

Industries highest salary increment in Singapore

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Singaporean employees across various industries, it further revealed the top five industries with the highest salary increment with or without a promotion. The hotel  hospitality (23.6%) industry was found to be the top when it comes to salary increments that come with a promotion, followed by the food and beverage catering  restaurant (18.3%), and manufacturing  production (17.1%) industries. When it ... Read More »

ASEAN weekly outlook talking points

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SINGAPORE:  Singapore Dollar came under selling pressure against their US counterpart towards the end of last week. Hawkish Fed commentary from Board of Governors member Lael Brainard helped push local bond yields higher . Simultaneously, the S&P 500 declined. This kind of trading environment also didn’t bode well for some other sentiment-linked ASEAN bloc currencies. With the markets appearing to refocus on ... Read More »

Singapore Medical Group faces alleged trademark infringement for SW1 acquisition

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SINGAPORE: Singapore Medical Group (SMG) said on Friday night that a suit had been brought against it on Oct 30 last year, relating to alleged trademark and copyright infringements by an aesthetic company that SMG acquired in March this year. The suit was commenced by Eastlife, Maxglobe and other plaintiffs, against SMG and other defendants, including SMG’s two new doctors, ... Read More »

Economic development and outlook in Singapore

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SINGAPORE: Singapore economy grew 3.5% in 2017 supported by the 3.1% growth in the fourth quarter from a year earlier, easing from growth of 5.4% in the previous quarter. A continued rise in demand for electronic gadgets, growth in exports and boosted investment spending due to the recent US tax reform have all been contributors. While growth is expected to stabilise in ... Read More »

Singapore’s industrial property market is bottoming out

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SINGAPORE: Maybank KE analyst Chua Su Tye noted that overall industrial leasing activity jumped 35% YoYin the first two months of 2018, the strongest since 3Q2013 (+27% YoY). This is supported by rising business optimism: a 1% net weighted balance of firms surveyed by the Economic Development Board (EDB) in 4Q2017 was positive on the manufacturing sector outlook for the six months from ... Read More »

Singapore dollar likes Japan trade data more yen for now

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SINGAPORE: Exports increased only 2.1% y/y versus 5.2% expected. While this was worse-than-expected, imports declined by 0.6% y/y. The latter was expected to rise 6.3%, making the miss here more intense than the former. When net exports are positive, it may add to growth. This is because it’s one of the four components of calculating GDP. Not long after the ... Read More »