Singapore Economy

Singapore official says country's talent strategies must remain flexible

Singapore's talent strategies must remain flexible amid heightened disruption brought about by AI and other technologies and shifting workforce demands, a senior government official said on Friday. To keep our competitive edge as a global business node, we must continue to strengthen our position as a global hub for talent, by attracting talent from around the world, while also investing in our local talent pipeline, a Senior Parliamentary Secretary for Manpower Shawn Huang said. At the same time, we must not overlook soft skills that are AI resilient, such as creativity, critical thinking, emotional intelligence and leadership, which will become more valuable as AI increasingly handles routine tasks," the Channel News Asia quoted Huang as saying when asked about the island state's latest ranking on attracting global talent. Singapore was ranked the world's most attractive place to develop, attract and retain talent, topping the Global Talent Competitiveness Index for the first ...

Singapore tourism board partners with IndiGo to boost India travel

The Singapore Tourism Board has signed an initial pact with domestic carrier IndiGo to boost tourism and travel between the two countries, a statement said on Thursday. Under the year-long strategic pact, the two partners will promote the island-city nation as a leading leisure and business destination for Indian travellers and boost bookings through the airline's extensive network, it said. India, according to STB, remains one of Singapore's top three tourism source markets, building on its strong performance in 2024. The collaboration is the first memorandum of understanding (MoU) with an Indian airline, and IndiGo's first with a national tourism board. In the first half of 2025, Indian visitor arrivals exceeded 5,00,000, supported by excellent air connectivity, as per STB. More than 270 weekly flights connect Singapore to 15 Indian cities via Changi Airport. "As we celebrate 60 years of India-Singapore diplomatic relations in 2025, our expanded collaboration with IndiGo and

Singapore's top students fight for elite college club spots amid job crunch

As hiring gets tighter, the number of graduates from popular business and administration courses has climbed for most of the past decade

Singapore PM Lawrence Wong says government to engage US-China honestly

A key priority for Singapore Prime Minister Lawrence Wong will be to deepen the trade-focused country's relations with the major powers, especially the US and China, engaging them honestly in a principled manner while not getting caught in their rivalry. Speaking after his newly re-elected government was sworn-in on Friday, Wong stressed, Where our interests align, we will work with them (the US and China). Where they do not, we will stand firm and protect Singapore's security and sovereignty. He also added that the first priority would be to secure an "assured place" for Singapore in this "changed world". Singapore, said Wong, will also seek new ties with countries in parts of the world, like Africa and South America, where it does not have much presence yet. In a world of shifting alliances, we will be a steady and constructive partner, one willing and able to contribute to peace and stability, to advance dialogue and fraternity, and support a rules-based global order, he said.

Singapore votes amid US-China trade tensions, ruling PAP seeks re-election

A total of 2,758,846 registered Singaporean voters are heading into polling booths for the 19 General Election 2025 (GE2025) to elect the next government which is set to face strong global headwinds caused by trade tariffs announced by the United States, the biggest trading partner of the Southeast Asian city-state. Voting began at 8 am on Saturday at 1,240 stations set up island-wide, with polling polling booths set to be be closed at 8 pm and results expected late at night. Prime Minister Lawrence Wong, completing nearly a year in office, is seeking a fresh mandate for the ruling People's Action Party (PAP), which has governed the city-state since independence and steered its development into a global financial hub. Singapore is in the cross road between US and China trade war, a diplomatic source said, adding that the trade focused island has strong diplomatic and economic relations with both the giant economies, a fall off from which will affect its future progress. Multination

US tariffs signals end to era of free trade: Singapore PM Lawrence Wong

Wong also criticised the US's policy to address the country's trade imbalances by imposing tariffs. Wong believes that running a trade deficit is not inherently negative

Singapore's PM Wong likely to ramp up spending going into election year

Wong, who is also finance minister, is expected to focus on bringing down living costs and boosting social aid when he delivers a budget speech later today

Singapore's DBS surges to record on higher margins, capital return plans

DBS's net interest margin, a key profitability gauge, rose to 2.15 per cent during the quarter from 2.13 per cent a year earlier

Singapore concerned over increasing 'sham marriages' with foreign women

Singapore authorities are concerned over the increase in sham marriages or marriages of convenience between Singaporean men and foreign women, which most of the time involves a syndicate and could lead to social problems. The Immigration and Checkpoints Authority (ICA) has highlighted the concern and reported that "sham marriages" have increased to 32 cases between January and September last year compared to just four cases during the same period in 2023. A media report cited ICA as saying that arrests of people involved in "sham marriages" followed vigorous investigations into a suspected syndicate arranging such arrangements between Singaporean men getting paid for marrying foreign women. "Sham marriages" in Singapore often involve a foreign woman paying a Singaporean man money for a union to be arranged, so she can get a permit to stay or work here, reported The Straits Times on Sunday. A marriage of convenience is when two people tie the knot for the sole intention of acquiring

MAS fines JPMorgan $1.8 mn over misconduct by relationship managers

MAS said in a statement that JPMorgan Chase did not have adequate processes and controls to ensure that relationship managers adhered to pre-agreed spreads with clients

Tenants in Singapore may have upper hand in 2025 as leasing market cools

After jumping nearly 60 per cent in three years, the island-wide rental index has softened by 4 per cent over the last four quarters

Singapore hides repression, corruption, says son of its ex-PM Lee Kuan Yew

Singapore has become much more repressive, and corruption in the Asian financial hub has worsened in the decade since the death of former Prime Minister Lee Kuan Yew, according to his youngest son who fled to Britain to seek asylum from what he described as a campaign of persecution to silence him. Lee Hsien Yang, who has been granted political refugee status in the UK, told The Associated Press that Singaporean authorities have weaponised the country's laws against critics and that he is just the most prominent example of a growing number of Singaporeans fleeing abroad to seek protection from their own government. Lee cited a tightening of laws on security and rights of assembly and a sharp increase in the number of asylum-seekers from the city-state over the past decade under the rule of his estranged brother, Lee Hsien Loong, who was prime minister until he stepped down earlier this year. Singapore has this veneer that purports to be a sort of affluent, democratic, free country.

Singapore announces new measures to tackle money laundering activities

Singapore intends to flag and strike off companies that are inactive, increase data sharing across government agencies, and from next week educate non-regulated sectors

India's role in global economy offers opportunities for S'pore: SICCI chief

India's growing role in the global economy presents Singapore with opportunities for collaboration across economic, technological and geopolitical spheres, Singapore Indian Chamber of Commerce and Industry chairman Neil Parekh has said. The Indian-origin business leader's comments came as Singapore Prime Minister Lawrence Wong announced the elevation of the India-Singapore strategic partnership to comprehensive strategic partnership on Thursday. Parekh was speaking at the inaugural "Singapore India Forum The Next Phase" which was attended by some 350 members of the Singapore business community. By strengthening its relationship with India, Singapore can further solidify its position as a pivotal player in the evolving global landscape, given that the two countries have a long-standing partnership that has deepened over the years, Parekh said. "This strong relationship between both governments has fostered continuous engagement at multiple levels, between government entities and ..

Singapore economy grows 2.7%, fastest in 18 months as outlook improves

Separate data showed annual core inflation came in at 3.1 per cent in April, matching the rate in March

Ex-PM Lee lauds SICCI for aiding Singapore firms in Indian market outreach

The Singapore Indian Chamber of Commerce and Industry (SICCI) has helped strengthen economic links between Singapore and India by providing local firms with market outreach and advisory on the Indian market, former Prime Minister Lee Hsien Loong has said. These efforts have helped us to benefit from India's tremendous growth potential, Lee said in a farewell letter to the SICCI after relinquishing the premiership on Wednesday in a political leadership renewal process of the People's Action Party which has ruled the prosperous city-state for six decades. He noted SICCI's significant contribution to Singapore's economic growth, highlighting, You helped many local Indian firms grow their businesses through transformation, innovation, and overseas expansion. SICCI has also been a close partner of the government, providing valuable feedback on government policies, said Lee who led Singapore for 20 years and now sits as a senior minister in the Cabinet headed by Lawrence Wong -- sworn in

Wong to be sworn in as Singapore's PM as Loong bows out after 20 years

Singapore's deputy leader Lawrence Wong is set to be sworn in Wednesday as the nation's fourth prime minister in a carefully planned political succession designed to ensure continuity and stability in the Asian financial hub. A US-trained economist, Wong (51), succeeds Lee Hsien Loong (72), who stepped down after two decades at the helm. Lee's resignation marked the end of a family dynasty led by his father Lee Kuan Yew, Singapore's charismatic first leader who built the colonial trading outpost into a business-friendly, affluent country during 31 years in office. Wong, a civil servant turned politician, came to prominence while coordinating Singapore's successful fight against COVID-19. But he wasn't the first choice for the top job. Heng Swee Keat, a former central bank chief and education minister, was the anointed successor but he withdrew his nomination in 2021. Wong was then picked by the ruling People's Action Party in 2022 to fill the vacuum and was quickly promoted to deput

Govt delegation visits Singapore to boost bilateral trade, collaboration

An Indian government delegation has visited Singapore to bolster trade relations and attract investment to the country. The delegation, led by Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh, engaged in productive discussions with high-ranking government officials in Singapore and participated in investor roundtables on Monday. Singh also addressed the India-Singapore Trade Roundtable on the Food and Machinery Sector, organised by the Federation of Indian Chambers of Commerce & Industry (FICCI) and the High Commission of India in Singapore, in partnership with the Singapore Business Federation. The event served as a platform for Indian and Singaporean businesses to explore avenues for enhancing trade, joint ventures, technology exchanges, and partnerships, a FICCI official said on Tuesday. The visit of the delegation was aimed at inviting investors to India and enhancing trade ties between India and Singapore, the official said. Singh .

DBS cuts CEO Piyush Gupta's pay by $3 million on digital banking outage

DBS shares rose as much as 2.8%, the most in six weeks, out-pacing the city-state benchmark stock index

S'pore committed to foster world where dialogue a path to resolve conflicts

Singapore is deeply committed to fostering a world where the rule of law is upheld and where dialogue and negotiation are the chosen pathways to resolving conflicts and disputes, the country's President Tharman Shanmugaratnam has said. The prosperous city-state also supports stronger international cooperation to prevent crises from occurring, and to be prepared in advance for any shocks to the system when they do occur, the president on Saturday told 460 newly minted officers of the Singapore Armed Forces (SAF). In a speech at the officer cadet commissioning parade, the president noted that the foundations of the international order were under strain, just when the need for global cooperation and the rule of law was greatest. "On its part, Singapore continues to be deeply committed to fostering a world where the rule of law is upheld, and where dialogue and negotiation are the chosen pathways to resolving conflicts and disputes," he said. However, this ability to engage with other