Thursday , July 20 2017
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Singapore exports rebound in June after 2 months of flat growth


SINGAPORE: Non-oil exports in Singapore rose 8.2 per cent last month from a year ago after flat growth in the previous two months, trade agency International Enterprise (IE) Singapore said on Monday (Jul 17). However, on a month-on-month seasonally adjusted basis, exports were down 2.7 per cent, with the decline in electronic shipments outweighing the increase in non-electronic shipments, IE ... Read More »

Singapore June marine fuel sales fall to their lowest this year

marine fuel

SINGAPORE: Sales of marine fuels in June in Singapore, Asia’s biggest ship fuelling port, fell 6.1 percent from a year ago to 3.836 million tonnes, the lowest since September, data from the Maritime and Port Authority of Singapore (MPA) showed on Thursday. The June quantities were 8.2 percent lower than in May when 4.181 million tonnes were sold, the second-lowest ... Read More »

Singapore June exports expected to rise on firm electronics shipments


SINGAPORE: Singapore’s non-oil domestic exports in June were expected to rise from a year earlier, helped by continued strength in electronics shipments and recovering from two consecutive months of contraction, a Reuters poll found on Friday. Non-oil domestic exports in June were expected to have risen 4.1 percent from a year earlier, according to the median forecast in the survey ... Read More »

Singapore Q2 GDP grows 0.4% q/q, dodges recession

gdp growth

SINGAPORE: Singapore’s trade-reliant economy grew in the second quarter from the quarter before, dodging a recession, thanks to solid gains in the manufacturing sector. The economy expanded 0.4 percent in the April-June period from the previous three months on an annualised and seasonally adjusted basis, the Ministry of Trade and Industry said on Friday in a statement. Revised data showed ... Read More »

Singapore, China enjoy strong bilateral ties that have adapted to changes

economic ties

SINGAPORE: Singapore and China have built a strong bilateral relationship that has adapted with the changing needs of both countries over the years, said Deputy Prime Minister Teo Chee Hean on Thursday (Jul 13) at the FutureChina Global Forum, where he reiterated Singapore’s support for China’s Belt and Road Initiative. He noted that Prime Minister Lee Hsien Loong and Chinese ... Read More »

Singapore May retail sales rise 0.9% from year earlier

People enter and  exit a Macy's department store in Boston's Downtown Crossing district, Wednesday, July 11, 2007.  As merchants reported their June sales results Thursday July 12, 2007, the disappointments cut across many segments of the retail  industry including Macy's Inc. Macy's suffered a 2.7 percent drop in same-stores sales, worse than the 0.8 percent decline expected. (AP Photo/Steven Senne)

SINGAPOREL: Singapore’s retail sales in May rose from a year earlier due to an increase in sales of petrol, data showed on Wednesday. Total retail sales rose 0.9 percent from a year earlier, after increasing by a revised 2.7 percent in the previous month, according to data from the Singapore Department of Statistics. Compared with a year earlier, petrol sales ... Read More »

DBS Bank of Singapore sees imports rising 9% this year


SINGAPORE: Imports are likely to grow percent to 9 percent this year on sustained domestic demand, although such increase would be slower than the 18.4-percent expansion a year ago, DBS Bank of Singapore said Monday. The bank said in a report the sluggish import growth figures in the past two months simply reflected high base effects. “Despite the last two ... Read More »

Oil edges up but market still under pressure


SINGAPORE: Oil prices recovered some losses on Monday after a 3 percent fall in the previous session, but markets remain under pressure from high drilling activity in the United States and ample supplies from producer club OPEC. Brent crude futures, the international benchmark for oil prices, were at $46.80 per barrel at 0703 GMT, up 9 cents, or 0.2 percent, ... Read More »

Singapore to release advance Q2 GDP estimates on July 14


SINGAPORE: The Ministry of Trade and Industry said on Friday (July 7) that it will release the advance gross domestic product (GDP) estimates for the second quarter of 2017 on July 14 at 8am. The Singapore economy has been outperforming projections recently, expanding by 2.7 per cent year-on-year in the first quarter of this year. For the second quarter, private-sector ... Read More »

Singapore to remain attractive for healthcare IPOs

IPO (Initial Public Offering) on coin stacks with white backgrou

SINGAPORE: It is home to one of the world’s biggest healthcare groups, IHH. Whilst the consumer and the professional services sectors are seen to rise and continue their uptrend, Singapore will see a new potential with the healthcare sector. According to a new study by the PwC, healthcare is one of the more well-developed sectors in the city-state with one ... Read More »

Singapore PMI down to 50.7 in June


SINGAPORE: The Nikkei Singapore Purchasing Managers’ Index, or PMI, fell to 50.7 in June from 51.4 in May. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction. The latest figure shows the country’s business activities grew at a slower pace than the previous month. In June, growth in new business eased to the lowest ... Read More »

Singapore banks’ system loan growth slows to 0.4% in May


SINGAPORE: Loan growth could hit 6% in FY17. Maybank Kim Eng reported that system loan growth in May moderated to +0.4% MoM/+5.1% YoY (Apr: +1% MoM/+6.4% YoY), in line with their expectation. “Our loan growth assumption for Singapore banks is +6% YoY for FY17, as banks stand to benefit from the recovery in the domestic economy. We see upside risk ... Read More »

Singapore private home prices dip 0.3% in Q2


SINGAPORE: Private home prices in Singapore declined 0.3 per cent in the second quarter of 2017, easing slightly from the 0.4 per cent drop in the first quarter, according to flash figures released on Monday (July 3) by the Urban Redevelopment Authority (URA). This means that overall private housing prices have fallen for 15 straight quarters, or since the fourth ... Read More »

Singapore boosts economic ties with Chengdu

economic ties

SINGAPORE: Singapore was Chengdu’s second largest foreign investor in 2016. In continuous efforts to strengthen Singapore-Sichuan economic ties, International Enterprise (IE) Singapore signed a Memorandum of Understanding (MOU) with the Commission of Commerce of Chengdu today to help Singapore companies expand their presence in Sichuan (Chengdu) Free Trade Zone (FTZ), specifically in Trade and Logistics, Financial and Professional Services, and ... Read More »

Singapore sees 1.4% inflation in May


SINGAPORE:  Singapore’s Consumer Price Index (CPI) rose 1.4 percent in May, compared to the 0.4 percent of CPI-All Items inflation in April, said the Ministry of Trade and Industry and the Monetary Authority of Singapore (MAS) in a joint release on Friday. The inflation growth is attributed to the rise in the cost of housing maintenance and repairs on a ... Read More »

Singapore’s May manufacturing output grows at slower pace of 5%


SINGAPORE: Singapore’s manufacturing output rose by 5 per cent in May from a year ago, easing from the 6.7 per cent increase in April, as the electronics segment grew at a slower pace. This marks the 10th straight month that manufacturing output has grown year-on-year, according to figures released by the Economic Development Board on Friday (June 23). Leaving out ... Read More »

Singapore’s economy expected to grow by 2.7% in 2017

high growth rates

SINGAPORE: The Singapore economy is forecast to grow by 2.7 per cent this year despite uneven sector performance, noted a report by the Institute of Chartered Accountants in England and Wales (ICAEW) out on Thursday (June 22). This projection is up from the 2 per cent growth Singapore achieved in 2016. The better showing will largely be driven by “improved ... Read More »

Singapore LNG performs first small-scale reload on Cardissa


SINGAPORE: Singapore LNG (SLNG) has completed its first small-scale reload this week, filling the fuel tanks of the LNG bunker-supply newbuilding Cardissa. The operation took place on Jurong Island, at SLNG’s secondary jetty, which is designed for LNG carriers in the 60,000m³-265,000m³ size range. As the smallest vessel to call there to date was of 65,000m³, SLNG carried out compatibility ... Read More »

Singapore signs multilateral convention to implement tax treaty


SINGAPORE: Singapore has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting. The Multilateral Instrument was signed in Paris by Sim Ann, Senior Minister of State, Ministry of Culture, Community and Youth, and Trade and Industry. It was the first signing ceremony for the Multilateral Instrument, with over 60 jurisdictions signing the ... Read More »

Singapore exports down 1.2% in May, second straight month of decline


SINGAPORE: Non-oil domestic exports (NODX) in Singapore fell by 1.2 per cent in May over the same time last year, according to statistics released by trade agency International Enterprise (IE) Singapore on Friday (Jun 16), continuing its slide from the previous month. Exports in May rose a seasonally adjusted 8.1 per cent month-on-month after the previous month’s 9 per cent ... Read More »